Cement News tagged: Corporate
India: petition fails to stop Birla Corp and Reliance deal
Calcutta High Court justice Jyotirmoy Bhattacharya on Thursday dismissed petitions filed by a Birla faction seeking injunction in Birla Corporation's (Birla Corp) plan to buy Reliance Infrastructure's cement business for an enterprise value of INR4.8bn (US$711m). The Birlas sought an order to postpone the high profile cement deal entered between MP Birla Group's Birla Corporation and Anil Amb...
India: Ramco 4Q16 results
Ramco Cements has announced a more than two-fold increase in its net profit to INR2bn (US$30m) for the its fourth quarter ended 31 March 2016, compared to INR934m (US$13.8m) for the same quarter in the previous year. The company’s total income increased by 1.85 per cent to INR10.1bn (US$150.7m) compared to INR9.9bn (US$148m) for the quarter ended 21 March 2015. The company also reported a t...
Egypt: Helwan Cement Company orders Gebr Pfeiffer mill
The Helwan Cement Company, an Italcementi subsidiary, has ordered a new Gebr Pfeiffer coal mill for its cement works. Delivery of the mill will start as early as the end of 2016. The MPS 3350 BK vertical roller mill has an installed gearbox power of 1050kW and is designed to grind 80tph of coal to a product fineness of 12 per cent residue on 90µm and 60tph of petcoke to a product fineness o...
Georgia: HeidelbergCement Caucasus expects July 2016 work start for Kaspi
HeidelbergCement Caucasus (HCC) announced it will renovate and develop its cement plant in Kaspi in the Shida Kartli region of Georgia in the next two years. Preparation works in Kaspi started at the end of last year with the main works anticipated to start in July 2016. The development initiative represents a total investment of US$120m, of which US$100m will be spent on installing a new d...
Oman: Raysut Cement launches one of largest cement silos
Oman’s Raysut Cement Co recently launched a new multi-chamber silo at its site in Salalah. The new silo will be able to store 20,000t and is considered one of the largest cement silos in the region with a diameter of 30m and 43m high. The three chambers have a storage capacity between 3000-12,000t each and will be used for ordinary Portland, sulphate-resistant and oil well cement. Bulk cemen...
Indonesia: Conch/Papua Cement plant to open in July
The Jakarta Post reports that the joint-venture between Conch and SDIC Papua Cement Indonesia will commence operations at its new plant in Manokwari, West Papua, in July. The plant is being constructed at a cost of US$400m and will have an initial capacity of 1.5Mta. Demand for cement in Indonesia has grown steadily and is predicted to reach new heights this year driven by government inf...
India: JK Lakshmi Cement 4Q net profit soars
JK Lakshmi Cement’s net profit soared in the quarter ended 31 March 2016 from INR60.5m (US$ 0.90m) to INR483.8m YoY. Total 4Q revenues of the company jumped 27 per cent from INR5.782bn in FY14-15 to INR7.351bn. The commissioning of the Durg plant in March 2015 helped production increase by 42 per cent in the quarter. "Company's steep growth in production and sales along with its relentl...
Trinidad Cement to pay first dividends in 8 years
Trinidad Cement Ltd (TCL) will pay a dividend to shareholders in July. This ends an eight-year period in which shareholders received no returns from the stock. Trinidad Cement last paid a dividend in December 2007. At four cents a share the total payout will amount to TT$15m (US$2.2m). The board of directors said they approved the interim payment after considering contractual, economic, fina...
USA: Lafarge cancels Joppa expansion
Lafarge North America has put an end to expansion plans at the Joppa Cement Plant, Massac County, Illinois. A spokeswoman for Lafarge, Robin De Carlo, said that the cancellation of plans to install a third kiln at the Illinois plant was due to the two kilns already in operation meeting current needs. Lafarge purchased the Joppa Cement plant in 1991.
Tanzania: Tanga Cement seeks to cut costs as profits fall
Tanga Cement has said that it will concentrate on cutting costs in an effort to counteract falling revenues, the Citizen reports. The company, whose profit fell to TZS8.24bn (US$3.8m) in 2015, held its annual general meeting this week. Speaking at the event, Board Chairman, Lau Masha, said: "Improving operational efficiency and containing production costs continues to be a major focus for t...
Brazil: Magnesita 1Q16 income
Magnesita Refratários SA announced a net income of US$22.7m between January and March of 2016. The publicly-traded Brazilian Corporation focusses on mining and the production and sale of refractory materials and industrial minerals. Magnesita’s EBITDA reached US$39.1m in 1Q16 with a 16.9 per cent margin, while the registered net revenue for the period was US$234m. CEO of Magnesita, Octav...
Rizkan Chandra new Semen Indonesia President Director
Semen Indonesia's Board has elected Rizkan Chandra as new President Director at its Annual General Director. The current term of his appointment runs until 2020. Mr Chandra was born in Jakarta on 27 January 1969. He majored in Informatics Engineering ITB and obtained his masters in Management of Technology at the National University of Singapore. He previously served as Director of PT S...
Barbados: Arawak reports improved performance
Arawak Cement Co Ltd of St Lucy, Barbados, announced a turnaround in its finances in 2015. While it did not release any hard data, it described 2015 as a “very encouraging” year. The company reported improved operational efficiencies and a 20 per cent rise in exports when compared with 2014. Chairman Arun Goyal said the improved performance resulted from strategic initiatives and “an adhere...
Zimbabwe: Sino Zimbabwe sales decline
Sales for Sino Zimbabwe Cement Company (SZCC) have declined by 15 per cent in the first quarter, in comparison with the same period last year. A further decline in sales this quarter has been projected by the company, which has cited a difficult operating environment and liquidity problems as some of the reasons for the decline. Wang Yong, SZCC managing director, said that the situation had...
Semen Indonesia to invest US$2.2bn over next five years
Semen Indonesia President Director, Rizkan Chandra, has announced that his company is to invest IDR30tn (US$2.2bn) over the next five years. The funding will be split between existing operations, entry into new markets and downstream acquisitions. According to reports on Deal Street Asia, Semen Indonesia is looking to acquire majority interests in ready-mix and precast businesses. The firm ...
Zimbabwe: Dangote investment
Nigerian billionaire Aliko Dangote has said he will not rescind on the decision to invest in Zimbabwe, despite negative reports concerning the country’s economy. Mr Dangote said in an interview that he currently has a team in Zimbabwe finalising logistics and making preparations to begin operations. His conglomerate intends to set up a cement manufacturing plant capable of producing 1.5Mt pe...