Cement News tagged: Corporate
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...
India: Barak Cements to expand Assam grinding unit
Barak Valley Cements Ltd is considering the expansion from 750tpd to 1000tpd (0.33Mta) of its cement grinding plant in Karimaganj, Assam, India, according to a BSE filing. The company is expected to proceed in applying for the required permits and clearances.
Arabian Cement profits fall 41% in 1Q 2016
Arabian Cement (Egypt) reported a 40.5 per cent fall in earnings in the first quarter of 2016. According to consolidated financial results, the company earned EGP34.15m (US$3.85m) in Q1 2016, compared with EGP57.37m (US$6.47m) over the same period last year. Further, its first quarter unconsolidated profits decreased 40.5 per cent YoY to EGP33.32m from EGP56.03m. In 2015, the company's cons...
European Commission gives green light to HeidelbergCement's Italcementi acquisition
HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The European authority accepts the proposed divestment of operations in Belgium, i.e. Italcementi’s local subsidiary Compagnie des Cements Belges SA (CCB), to avoid anti-competition issues in Europe. “We are very pleased with the positive decision of the European Commission”, says Dr Ber...
US performance gives Cementos Argos strong 1Q16
In the 1Q16 Cementos Argos reported an income of COP2.2trn (US$720.1bn), up 334 per cent compared to the same period in 2015. EBITDA ascended to COP425bn, a 38 per cent increase, while the EBITDA margin increased 60 basic points to close at 19.2 per cent. In March the company paid two loans acquired in 2015 with Banco de Crédito del Perú, totalling COP100bn. With this transaction, Grupo A...
Luxembourg: worker killed at Rumelange plant
A worker has been killed after falling into a grinder at Cimalux’s Rumelange plant, reports the Luxemburger Wort. The plant is a subsidiary of the Dyckerhoff Group, which in turn is owned by Buzzi Unicem, and produces clinker for plants in Luxembourg and Germany. The worker, who has not been named, is a 59-year-old French citizen who was pronounced dead on the scene. An investigation int...