Cement News tagged: Corporate
Cementos Argos reports solid final quarter performance
Cementos Argos reported a solid performance in 4Q15, with double-digit growth in consolidated revenues and a significant increase in consolidated EBITDA. The growth resulted not only from increased volumes in most regional divisions but also from a recovery in the USA group area, structural improvements in efficiencies and a well implemented price strategy, the company said. Consolidated rev...
Pakistan: Pioneer Cement reports earnings of PKR988m in 1HFY16
Pioneer Cement Ltd reported first-half earnings of PKR988m (US$9.45m) versus PKR1.292bn a year earlier, translating into a decline of 24 per cent. In a communication to the Pakistan Stock Exchange, the company said turnover rose from PKR3.9bn to PKR4.37bn over the half-year period. Distribution costs climbed to PKR28.15m from PKR25.96m in 1HFY14-15 but financing costs fell to PKR12.74m from P...
Semen Indonesia full-year net profit falls
PT Semen Indonesia Tbk reported an 18.7 per cent drop in 2015 net profit to IDR4.52trn (US$336.56m) versus IDR5.56trn a year earlier. In its financial report published Tuesday, the company's 2015 revenues totalled IDR26.95trn, virtually flat from the IDR26.99trn in 2014 amid sluggish demand. The company's president director Suparni attributed the fall in net profits to the increase in ele...
New managing director of PPC Zimbabwe appointed
PPC has appointed Kelibone Masiyane as managing director of PPC Zimbabwe. Following the recent re-deployment of former managing director of PPC Zimbabwe Njombo Lekula as the managing director of PPC's international operations, the country's executive team has been further strengthened through a number of new appointments. "Kelibone's promotion will see him assume overall responsibility for P...
Ethiopia: Messebo in solid AF supply agreement
The Egyptian Company for Solid Waste Recycling (ECARU), a subsidiary of Qalaa Holdings’ Tawazon, has signed a five-year contract with Ethiopia’s Messebo Cement to supply biomass to gradually replace coal. As stipulated by the agreement between the two companies, ECARU will be the technology and service provider responsible for collecting, transporting and processing local biomass that will ...
Vassiliko Cement expects "significant" improvement in 2015 financial results
Vassiliko Cement Works Public Co said it expects to show a "significant" improvement in financial results in 2015 compared to the year before. "The upward trend of the first nine months of 2015 continued in the last quarter, the results of which are expected to be even higher," Cyprus' sole cement producer said in a statement.
South Africa: NUM signs one-year wage agreement with LafargeHolcim
South Africa's National Union of Mineworkers (NUM) signed a one-year wage agreement with the local unit of cement maker LafargeHolcim, it said on Monday, ending a strike that had just entered its second week. NUM said its members will receive an eight per cent pay increase and other benefits including raises on housing grants and allowances for taking on temporary positions. (Source: Reuters)
Bestway consolidated turnover up 45.5%
Bestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices. The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PK...
India: Shree Cement receives first non-coal mining lease in Chhattisgarh
Shree Cement has won the first ever non-coal mining lease auctioned by the state government of Chhattisgarh, India. The Indian Bureau of Mines (IBM) price of limestone in Chhattisgarh was INR483.17/t. Shree Cement offered to pay INR284/t — the highest bid that was 58.95 per cent of IBM price. The auction process continued for over five hours on Thursday. In all, 192 bids were submitted. “T...
Weaker exports reduce clinker production at Toral de los Vados, Spain
Clinker production at Cementos Cosmos' Toral de los Vados factory in Spain declined by 10 per cent in 2015 to 600,840t. The drop in production has been mainly attributed to lower exports. According to the director of the factory, Jaime Santoalla: “Our lack of competitiveness is leaving us out of some export markets. In addition, there is also the economic crisis in Brazil, a country that ...
Italcementi increased net loss
Italcementi's turnover improved by 3.5 per cent in 2015 to EUR4301.6m, but EBITDA declined by 10.3 per cent to EUR584m and the trading profit fell by 36.6 per cent to EUR148.4m. The pretax profit was more than halved falling from EUR79.6m to EUR30.9m. The net attributable loss emerged 12 per cent higher at EUR120m. The net debt was 0.6 per cent higher at EUR2169.7m, giving a gearing level o...
Restrepo appointed VP of Cementos Argos division
Camilo Restrepo has been appointed the new Vice President of Cementos Argos' Caribbean and Central American regional division, the company announced yesterday. Mr Restrepo began his career with Cementos Argos in 2005 as a research and development analyst and subsequently became an environmental professional and R&D Manager. In 2012 he was appointed as the company's Vice President of Innovati...
Paraguay: INC kiln out for fuel conversion
Paraguay’s Industria Nacional del Cemento (INC) will switch off its kiln in July to carry out a three-month fuel conversion at its Vallemi plant, according to Jorge Méndez, INC’s CEO. It is expected that the kiln will be fired up again in October, using petcoke instead of the current fuel oil. At present the company is preparing a call for tender to clinker suppliers for the delivery of ar...
Summit Materials sees volumes and prices increase across most lines
Summit Materials saw volume and prices increase across most lines of business in 2015, with revenue rising by 20.5 per cent led by its West and Cement segments, the company said in a statement. Tom Hill, CEO of Summit, stated: “2015 marked a significant year of progress for our company, in which we meaningfully enhanced our materials exposure, improved our capital position and met or exceed...
Lafarge halts EUR20m investment in Sagunto plant, Spain
The management of Lafarge yesterday made public its decision to halt the expansion of its quarry and its plant at Sagunto, Spain, due to “the uncertainty created by the new local government and the lack of viable alternatives,” according to El Mercantil Valenciano. The cement producer had intended to spend around EUR20m in upgrading its plant. In 2013 Lafarge and the town council of Sagunto ...
KHD informed of arbitration award
KHD Humboldt Wedag International said it has been informed of an award from a Portuguese arbitration court, whereby KHD and its subsidiary Humboldt Wedag Inc (USA) are jointly ordered to pay damages to a customer in South America. Humboldt Wedag Inc’s arbitration claim for disbursement of outstanding payments, reimbursement for a called bank guarantee, as well as additional compensation (for...