Cement News tagged: Corporate
India: Prism Cement 4QFY16 profits fall 95% YoY
Prism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline. Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent. Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen.
Brazil: LafargeHolcim opens new production line in Barroso
LafargeHolcim has begun production at a new line in its Barroso plant in the state of Minas Gerais, Brazil. The new line raises the plant's capacity to 3.6Mta. Equipment includes the world's largest vertical cement mill, with 450tph production capacity as well as a Horomill for raw material grinding with low power consumption, and a fully-automated quality control laboratory. The new line w...
Creditors seek to sell Hyundai Cement stake
Creditors of Hyundai Cement seek to sell their majority stake in the South Korean cement producer as early as July, according to local news reports. State-run Korea Development Bank (KDB), the largest stakeholder of Hyundai Cement with a 27.94 per cent stake, and other creditor banks including KEB Hana Bank hold a combined 95 per cent stake. The speeding up of the sales process comes as...
China: West China Cement to agree to Anhui Conch ownership
Yesterday, shares in West China Cement rose nearly six per cent on news that a sufficient majority of option-holders had agreed to an acquisition by largest listed Chinese peer, Anhui Conch Cement, reports the Australian Financial Review. The deal should have the government's blessing as further consolidation is needed in the sector. Last week, the State Council reiterated its desire for a m...
LafargeHolcim appoints head of organisation and Algeria CEO
LafargeHolcim has appointmented Caroline Luscombe as the group’s new head of organisation and human resources and member of the executive committee from 1 July 2016, based in Zurich. Caroline will take over responsibility for organisation and human resources from Jean-Jacques Gauthier, chief integration officer – organisation and human resources, who will be taking up a post as country CEO Alg...
France: Daniel Group to buy Lafarge quarries
Daniel Group is to buy three assets of Lafarge in France. The Baudreix-Mirepeix site comprises a 200,000tpa alluvial gravel quarry and a concrete plant. The agreement will also include the acquisition of the 350,000tpa Louvie-Juzon, an open pit limestone quarry, as well as a further concrete plant. These purchases add to the offer of the construction material specialist, which aims to broaden...
Indonesia: PT Semen Baturaja acquires syndicated plant loan
Semen Baturaja plans an IDR3.32trn (US$245m) unit in Baturaja, Ogan Komering Ulu, South Sumatra and to carry this project the company has sought a loan from PT Bank Negara Indonesia and PT Bank Pembangunan Daerah Sumatera Selatan dan Bangka Belitung, or Bank Sumsel Babel. IDR1.4trn will come from Bank Negara and the remaining IDR100bn will be leant by Bank Sumsel Babel. The new plant, wh...
Lafarge Africa appoints new group managing director
Lafarge Africa Plc has announced the appointment of Michel Puchercos as its new group managing director/CEO. A French national, Mr Puchercos has worked in South Korea, Kenya, Uganda, Tanzania and France and speaks various languages including French, English, Korean, Spanish and Swahili. He started his career in 1982 at the French Ministry of Agriculture, where he was head of two departm...
Russia: Spassktsement net profit falls to RUB365.25m in 2015
Net profit of Spassktsement OAO fell to RUB365.25m (US$5.45m) in 2015, a drop from RUB1.05bn over the same period in 2014, the company reported. Revenue increased in the accounting period by 0.71 per cent to RUB6.04bn from RUB6bn over 2014. The costs of goods sold grew by 10.79 per cent to RUB3.2bn from RUB2.88bn. Meanwhile, profit from sales fell by 29.49 per cent to RUB921.22m from RUB1.31bn.
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...