Cement News tagged: Corporate
Indonesia: Indocement hopes for strong consumption growth
Indocement Tunggal Prakarsa President Director, Christian Kartawijaya, has predicted that cement consumption in Indonesia could grow by 3-5 per cent in 2016, having grown by 3.4 per cent in 2015. According to the Jakarta Post, Mr Kartawijaya highlighted government investment in infrastructure and falling interest rates as the key drivers of higher demand. The Indonesian government has al...
PT Semen Padang issued new forest mining licence
PT Semen Padang has been granted land use of a forest area covering an area of 243.3ha in Indonesia. In accordance with IPPKH and Permit Mining limestone (IUP 412ha) owned since 1996, PT Semen Padang can continue its activities in excavating limestone in the Bukit Tarjarang area and in Bukit Karang Putih as it has done since 1910. The mining of limestone in Bukit Tarjarang is particularly as...
India: ECO Cement to produce for Prism Cement
Cogencis EquityWire reports that ECO Cement (ECL) and Prism Cement have reached an agreement whereby the former will manufacture and supply cement to the latter. "The arrangement with ECL is expected to help the company optimise its logistic costs as well as improve local availability in its strategic markets of Bihar," Prism Cement said. ECL operates a cement-grinding plant with a capac...
India: Sagar Cements ordered to stop mining in Sulthanpur forest
Sagar Cements have been ordered by the National Green Tribunal (NGT) to cease mining activity in Sulthanpur forest in Telangana following a complaint that the company was encroaching on forest land. According to reports in the Hindu, Sagar have been accused of illegally mining in the forest reserve. The Director of Mines and Geology has asked the firm to cease activity in the reserve area. ...
Ireland: Irish Cement challenging compulsory land purchase
A High Court challenge has been set in motion by Irish Cement, opposing an order allowing the compulsory purchase of its Co Limerick lands to expand the harbour facilities at Foynes. The compulsory purchase order (CPO) covering 37.5ha of Irish Cement’s property was granted to Shannon Foynes Port Company in March. Denis McDonald, counsel for Irish Cement, has said that An Bord Pleanála d...
North America: Lehigh Hanson and Essroc closer to integration
Integration of Lehigh Hanson and Essroc Cement is one step closer, with a scheduled mid-summer closing, as reported by Aggregate Research. With the merger of HeidelbergCement and Italcementi, the amalgamation of two of the US cement subsidiaries is moving ever closer. Shareholders of both firms were informed of Competition Bureau of Canada approval, as well as the forthcoming US Federal Trade...
India: Dalmia removes barrier to Lafarge-Holcim merger
An application for withdrawal made by Dalmia Cement Ltd has been accepted by The Competition Appellate Tribunal (COMPAT). Dalmia Cement had previously challenged an approval given for the merger by the Competition Commission of India (CCI). Dalmia Cements cited recent developments in the Mines and Minerals Act and uncertainties in legislation regarding mining and prospecting licences as reason...
Pakistan: Bestway Cement pretax profits up 45%
In an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attri...
India: Birla sees Q4 profit rise to US$17m
Birla Corporation has released its earnings figures for the three months to 31 March 2016, during which time the firm achieved a profit of INR1.16bn (US$17.4m), up fourfold on a year earlier, the Hindu reports. Revenue for the quarter rose by nine per cent to INR8.7bn (US$131m). Full-year earnings saw total income rise by two per cent to INR32.7bn (US$492m), while profits were down 10.3 per...
India: Grasim and UltraTech well positioned for growth
Grasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three p...
Buzzi Unicem: 1Q16 sales up 2.8%
Buzzi Unicem reports that during the 1Q16 group cement sales were up 2.8 per cent from the first quarter of 2015, reaching 5Mt. The volume trend was favourable in the United States (+16.3 per cent) and fairly stable in central Europe and Italy. Eastern Europe reported a decrease of 9.2 per cent, mainly due to the declines recorded in Russia and Ukraine. Ready-mix concrete sales posted a slight...
Martin Marietta reports strong Q1 profit advance
Martin Marietta Materials, one of the top five US aggregates producers, has announced a first-quarter turnover 16.2 per cent ahead at US$734.0m and EBITDA rose by 67.3 per cent to US$152.6m. The trading profit was more than trebled, rising from US$.25.6m to US$83.8m and after a net interest charge that was 3.6 per cent higher at US$20m and after other items, the pretax profit emerged at US$64....
China: BBMG can be optimistic for 2016
Beijing Building Materials Group (BBMG) is looking favourably to the rest of the year as an upturn in its Chinese cement sales and higher prices are forecast. However, expansion overseas is not yet seen as a priority despite the Chinese President, Xi Jinping's, desire for Chinese firms to expand across southeast Asia. "Management remains positive on the demand pick-up in the region, given ...
Oman’s Raysut Cement Somaliland terminal on track
Raysut Cement said its project with Barwaaqo Cement Co in Berbera, Somaliland, is progressing well. The Oman-based cement producer signed a joint venture agreement with the Barwaaqo Cement Co in September 2014 for building a 12,000t bagging and distribution terminal at Berbera. The project reflects an investment of US$7.5m and is expected to support the company’s expansion. At its Raysut w...
Vietnam: Loesche to supply new Long Son Cement plant
Loesche GmbH, Germany, has signed a new contract with Sinoma-NCDRI, China, to supply a new mill to Long Son Company in Vietnam. Long Son is building a new cement plant at Dong Son Bim Son and the equipment is to be delivered in the next 8-9 months. Loesche will supply a type LM 56.4 mill with a performance of 520 t/h. The gearbox of this mill has a power output of 3,600 kW.
Malaysia: Hume Industries wants more time for land extension
Hume Industries Bhd is seeking a 24-month extension from the Securities Commission (SC) in order to acquire occupation certificate for its Sabah industrial land. The firm had in April 2014 sought SC's approval for the purchase of the full equity interests in Hume Concrete Sdn Bhd (then known as Hume Industries (Malaysia) Sdn Bhd) and Hume Cement Sdn Bhd. Among the requirements set by the ...