Cement News tagged: Corporate
Nigeria: Dangote begins construction of Itori-Ibese road
Dangote has begun construction of a network of concrete roads in Nigeria, beginning with a 24km stretch linking Itori and Ibese in Ogun state, Leadership reports. Speaking at the inauguration of the first road, Aliko Dangote said that concrete roads offered a means to address the infrastructural challenges faced by African nations. Dangote said: “We have also recently been finally awarde...
India: Ambuja Cement to expand Rupnagar grinding plant
Ambuja Cement has announced that it plans to upgrade the capacity of its grinding plant in Rupnagar in Punjab by 0.9Mta, taking its output to 3.4Mta. The project, which is estimated to cost just INR10.5m (US$156,071), is to be achieved through process optimisation and it is not anticipated that the upgrade plant will require more power than the 15.8MW it currently has access to. In March...
India: Talavadi Cement plans new plant
Talavadi Cements, a subsidiary of Birla Corporation, is planning an integrated cement plant at Bari village, district, Satna, Madhya Pradesh. The plant will manufacture 2Mta of clinker and 3Mta of cement and will have a 35MW captive power plant and an 8MW waste heat recovery system. JM Environet is the environmental consultant. The project is waiting for environmental clearance, but land a...
Cemex Holdings Philippines set for record IPO
Cemex Holdings Philippines Inc has obtained regulatory approval to launch an initial public offering (IPO) worth PHP39.74bn (US$854.3m), which could be the largest stock market debut in the country. Cemex intends to use proceeds for repayment of up to US$504m of short-term loan from a related party. The debt was incurred in connection with the acquisition of operating subsidiaries—Apo C...
Sri Lanka: LafargeHolcim to exit market
LafargeHolcim is to sell its operations in Sri Lanka - a bagging plant, a grinding plant and the island's only integrated facility - as part of its wider divestment strategy, EconomyNext reports. At least three local firms are though to be interested in bidding for Holcim Lanka, which generated 1.7Mt of sales in 2015 with revenues of LKR23.4bn (US$158m).
Burkina Faso: CIMAF begins construction of second plant
Ciment d’Afrique (CIMAF), a subsidiary of Morocco’s Addoha Group, has begun the construction of its second cement plant in Burkina Faso, the North Africa Post reports. The grinding plant, located in Bobo-Dioulasso, is being constructed for a cost of around €25m (US$28m) and will have a capacity of 0.7Mta when it is completed, in about 18 months’ time. CIMAF has an existing 0.5Mta plant i...
Saudi Arabia: Hail Cement resumes production
Hail Cement Company has resumed production after a stoppage for scheduled maintenance. According to the company's statement on the Saudi Stock Exchange Tadawul,” the financial impact of the stoppage will be reflected on the results of the second quarter of 2016. The cement firm previously announced that the production line was going to stop for annual maintenance for the furnace and the ...
Hong Kong: Allied cement proposes name change
Allied Cement aims to improve its core competitiveness and the Board believes that the proposed change of company name to Tongfang Kontafarma Holdings Ltd would better reflect the expansion of the group’s business scope and diversified operations. The Board is of the view that the proposed name change is in the best interests of the company and the shareholders as a whole, and provide the ...
Falling profits in South America, Egypt and Portugal hit Cimpor results
Cimpor has reported a first-quarter turnover 28.7 per cent lower at EUR454.1m and EBITDA fell by 35.1 per cent to EUR80.1m. The trading profit (EBIT) dropped by 51.9 per cent to EUR35.6m. The net financial charge edged ahead by 0.7 per cent to EUR75.8m to give a pretax loss of EUR40.3m, compared with EUR1.3m a year earlier. At the net attributable level there was a loss of EUR40.7m, compared w...
Lithuania: Akmenes Cement suffers losses of EUR5m
Akmenes Cementas last year saw its net losses soar to EUR4.864m, more than a five-fold increase from EUR902,400 in 2014. Annual revenue fell by 6.5 per cent to EUR55.44m, Akmenes Cementas said its annual report filed with Lithuania's Center of Registers. The company's total cement sales rose by eight per cent in 2015 from 2014 to 979,000t, including 513,000t in the domestic market (52 per c...
India: Five bidders still in running for Lafarge
The Financial Express reports that Lafarge India has reduced the number of bidders vying to acquire its assets to a shortlist of five: Cemex, Anhui Conch Cement, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market, although Piramal and Nirma both operate in other sectors in the country. Lafarge India’s assets a...
Nepal: Arghakhanchi Cement organises construction training
Arghakhanchi Cement has organised training seminars on building materials and earthquake-resilient construction for workers in Kathmandu, Republic reports. The company also provided free health services to participating construction workers.
Philippines: Holcim Q1 revenues up 17.2%
Holcim Philippines have released trading figures for 1Q2016, revealing that revenues have increased 17.2 per cent YoY to PHP10.1bn (US$216m), reports InPR. The company attributed its good performance to higher private spending and to increased government infrastructure investment, of which PHP760bn (US$16.25bn) of funding has been allocated. Holcim Philippines quarterly results showed op...
Tanzania: Tanga Cement to double clinker capacity
The Tanga Cement Company Limited (TCCL) has announced plans to raise output to 1.2Mt once the new kiln line is operational at its plant in northeastern Tanzania, East African Business Week reports. Construction of the new kiln is to begin shortly and will raise capacity at the Tanga plant from its current level of 0.5Mta. Grinding capacity is already thought to be 1.2Mta, meaning that the p...
India: JK Cement annual profits down 35.3%
The Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m). Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year ...
Arabian Cement Q1 profits drop 41%
Arabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16. The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidated financial results. Further, the unconsolidated profits for 1Q also fell 40.5 per cent YoY to EGP33.3m, from EGP56m. In 2015 Arabian Cement’s consolidated profits decreased 26 p...