Cement News tagged: Corporate
Bosnia: TCK sees net profit rise to EUR7.1m in 2015
Bosnian cement producer Tvornica Cementa Kakanj (TCK), owned by HeidelbergCement, saw its net profit jump to BAM13.8m (US$7.88m), up 22 per cent from BAM11.3m in 2014. The company’s operating revenue edged up 1.4 per cent YoY to BAM62.1m in 2015. Operating costs decreased to BAM48.2m from BAM49.7m in 2014, TCK said in its financial report sent to the Sarajevo Stock Exchange.
BBMG sees net profit slip 16.7%
BBMG Corp reported a fall in net profit for 2015. Its net income fell 16.7 per cent to CNY2.02bn (US$310m), declining for a second straight year. The cement and building materials supplier aims to bring in revenues of CNY41bn in 2016, roughly level with last year's CNY40.9bn, it said in a filing to the Shanghai stock exchange.
Holcim Madagascar successfully tests HFO
Holcim Madagascar has successfully concluded a first test of Tsimiroro heavy fuel oil (HFO). The oil will be used for drying of raw materials before grinding. “The first HFO test was positive and technically satisfactory. But the process will not be limited to a single test. A further test will be carried out after the rainy season,” said Pascal Naud, CEO of Holcim Madagascar. The second tes...
USA: GCC Dacotah unveils US$90m investment
GCC Dacotah has announced a US$90m investment to upgrade and restart Kiln Line 6 at its cement plant in Rapid City, South Dakota. Mayor Steve Allender welcomed the news. "Construction is a major industry in Rapid City and the region, and this cement plant has a long history of providing cement for the state and region. It's very good for Rapid City. We are a growing community; the business com...
Cambodia: work begins on Kampot cement plant
Work started last weekend on Cambodia’s largest cement plant, which will be built in Kampot province with an investment of US$262m by Chip Mong Insee Cement. Chip Mong Insee is a joint venture with Thailand’s Siam City Cement and was formed in December 2012. The new plant will have a cement capacity of 5000tpd. Leang Khun, the president of Chip Mong Group, said during a ceremony at the site ...
Vietnam: Hon Quan cement plant under consideration
ThaiGroup JSC, formerly known as Xuan Thanh Group Joint Stock Company, is considering construction of a cement plant in Hin Quan, Vietnam. The investment would be approximately VND12trn (US$533.33m) in the southern province of Binh Phuoc. The 4.5Mta Xuan Thanh Binh Phuoc cement plant would be built between 2016-20 as part of the plan to develop the country's cement industry by 2020. A...
Bahrain: 10% stake in Falcon Cement snapped up
Abu Dhabi Financial Group (ADFG) will buy a 10 per cent of Bahrain-based Falcon Cement Company from the Bahraini Islamic investment bank GFH Financial Group. The US$120m integrated cement plant has a production capacity of 0.35Mta, which is expected to rise to 0.85Mta by the end of 2016 after a second production line is added. The plant manufactures ordinary Portland cement and sulphate resist...
Lafarge India initiates sale of cement units
French cement-maker Lafarge's India arm has initiated the process of sale of its India business with the appointment of two investment bankers. The business comprising cements plants with a production capacity of 11Mta is valued at about INR110bn (US$1.647bn), the Business Standard reported. Piramal Enterprises, JSW Cement, CRH, KKR and Blackstone are cited as likely buyers, according to th...
HeidelbergCement's refinancing for Italcementi acquisition reduced
HeidelbergCement priced a eurobond issue under its EUR10bn Euro Medium Term Note (EMTN) programme with an issuance volume of EUR1bn and a maturity date of 30 March 2023. The bond was issued at the upper end of the volume and the lower end of the coupon range. Demand was very high, said HeidelbergCement. The bond was more than three times oversubscribed. The proceeds will be utilised for gener...
ThyssenKrupp Industrial Solutions to expand in MENA
Thyssenkrupp sees future growth in the MENA, and particularly in Saudi Arabia and Egypt, for its industrial solutions business area. Boris van Thiel, thyssenkrupp's CEO of the MENA region, said thyssenkrupp sees a huge potential especially in the area of energy efficiency programmes and downstream value chains. Mr Van Thiel further said that the importance of the MENA region for its busines...
Ambuja Cement prepares for 6-7% growth in 5 years
India’s second-largest cement producer, Ambuja Cement, expects cement demand to grow by 6-7 per cent in the next five years as the Indian government ramps up infrastructure investment. In 2015 the domestic cement sector expanded by 1-2 per cent. To meet this future demand, the company plans to build an integrated cement works at Marwar Mundwa in Nagaur district, Rajasthan, with associated g...
ACC forecasts 6% demand growth in 2016
India’s ACC predicts domestic cement demand to rise by six per cent in 2016 as spending on housing and infrastructure increases. The company’s clinker and grinding facilities in Jamul and Sindri are nearing completion, with commissioning expected in April-June.
Ecocem to invest EUR5m in two UK terminals
Ireland-based Ecocem will open a new terminal at Runcorn, on the Manchester Ship Canal, to help the company import into the UK, and plans a second terminal later this year in the southeast of the country. The two terminals represent an investment of EUR5m. The closure of steel plants and coal-based power stations in the UK has led to a decreased supply in key raw materials for blended cemen...
LafargeHolcim brands CRH purchase write-down claims "without merit"
CRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of th...
Cement Australia stake up for sale?
One of the two main shareholders of Cement Australia is reported to consider a potential sale of its 50 per cent stake, according to market sources. The value of Cement Australia is being discussed at US$800m, according to reports in Business Spectator. One theory suggests that Holcim could carry out the divestment ahead of plans to sell of its US$3bn Australia and New Zealand division ...
Ukraine: Pushka Cement reports UAH5.8m loss in 2015
Kramatorsk-based Pushka Cement Plant in the Donetsk region of Ukraine has preliminarily reported loss of UAH5.835m (US$219,364) for 2015. The Eurocement Ukraine subsidiary reported a loss of UAH17.178m in 2014. The assets of the company made up UAH 70.195m, receivables UAH 53.927m and current liabilities UAH 0.111m.