Cement News tagged: Corporate
Quinn Cement signs agreement for new cement silos
Quinn Cement (NI) Ltd and Warrenpoint Harbour Authority (WHA) have signed contracts, which will see the construction five new cement silos at Warrenpoint Harbour, with a total storage capacity of 7500t dedicated to the export of bulk cement from the Quinn Cement operations in Ireland. The 10-year renewable agreement between Quinn Cement and WHA involves a GBP2.5m investment by Quinn. Work on...
CMS cement division sees decline in pretax profit
Cahya Mata Sarawak Bhd (CMS) of Malaysia said group revenue rose seven per cent to MYR1.79bn (US$430m) in 2015 from MYR1.67bn a year earlier, mainly driven by the Construction Materials & Trading Division and Construction & Road Maintenance Division. Group pretax profit increased by 12 per cent to MYR381.65m in 2015 from MYR341.45m in 2014, primarily due to higher revenue recorded by the tw...
Lafarge Malaysia sees stable 2015 pretax profit
Lafarge Malaysia Bhd reported a pretax profit of MYR345.157m (US$82.86m) for the financial year ended 31 December 2015 versus MYR345.183m a year earlier. Revenue rose to MYR2.75bn, up from MYR2.743bn previously, the company said in a filing to Bursa Malaysia. Meanwhile, 4Q15 pretax profit decreased by 7.8 per cent mainly due to the one-off acquisition expenses incurred as well as higher f...
Spain: Cementos Molins 2015 profit up 65% YoY
Cementos Molins posted a consolidated net profit of EUR50.8m in 2015, representing a 65 per cent rise YoY. The Spanish cement producer’s overseas companies saw profits rise by 9.3 per cent to EUR64m while the domestic arm continued to note net losses despite a 52.6 per cent YoY improvement. Cementos Molins is currently investing in production units in Mexico, Bolivia and Colombia.It is build...
Sabanci net profit up 7.6% in 2015
Turkish conglomerate Sabanci Holding posted a net profit of TRL2.236bn (US$750m) in 2015, up 7.6 per cent from a year earlier, it said in a filing to the Istanbul stock exchange on Monday. The holding's sales rose 10 per cent to TRL30bn in the same period. The company further said it is looking to hold an initial public offering of its energy company and a secondary float of shares in its re...
S&P: West China Cement stays on CreditWatch Positive
Standard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management tea...
US Concrete continues expansion in New York Metropolitan area
US Concrete, Inc announced yesterday that it has acquired the assets of Greco Brothers Concrete of LI, Inc (Greco), a ready-mixed concrete producer located in Brooklyn, NY. Greco currently operates two ready-mixed concrete plants and a fleet of 37 mixer trucks. The assets of Greco will be integrated into US Concrete’s existing New York operation, Ferrara Bros, LLC (Ferrara Bros). Greco has a...
UltraTech Cement signs binding MoU for Jaiprakash Associates cement units
India's UltraTech Cement Ltd said on Sunday it had entered a binding memorandum of understanding to acquire Jaiprakash Associates Ltd's cement plants for INR165bn (US$2.457bn). The assets have a total cement capacity of 22.4Mta, including 4Mta under implementation, and are situated in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. “T...
Moody's downgrades Votorantim Cimentos' ratings to Ba2, outlook is negative
Moody's Investors Service downgraded Votorantim Cimentos SA's senior unsecured rated debt to Ba2 from Baa3. At the same time, Moody's withdrew Votorantim Cimentos' issuer rating and assigned a Ba2 Corporate Family rating. The outlook was changed to negative. The rating action follows Moody's downgrade on 24 February 2016 of Brazil's government bond rating to Ba2 from Baa3. In addition, Moody...
Cimpor books major loss in 2015
Cimpor's turnover declined by 4.3 per cent in 2015 to EUR2492.7m while EBITDA came off by 18.6 per cent to EUR525.7m. The trading profit emerged 30.2 per cent lower at EUR313.3m and the net financial charge increased by 9.3 per cent to EUR406.1m, giving a pretax loss of EUR92.8m compared with a profit of EUR77.3m in the previous year. A EUR12.4m tax credit helped to reduce the net attributable...
Adelaide Brighton reports record revenue
Adelaide Brighton has reported record revenue of AUD1413.1m (US$1017.35m) for 2015, representing a YoY increase of 5.6 per cent supported by cement and lime volumes, improved prices and the contribution of acquisitions made in the second half of 2014. Net profit after tax (NPAT) attributable to members of AUD207.9m for the year ended 31 December 2015. Property contributed AUD34.9m to NPAT o...
Higher cement volumes drive Elementia’s 4Q and full-year revenue growth
Mexico-based Elementia reported consolidated revenues for 4Q15 rose by five per cent YoY to MXP4.02bn and by 11 per cent over the full year to MXP15.33bn, mainly due to higher volume sold by its cement division. In line with management expectations, revenues from the cement business for the full year totalled MXP2.37bn, a 36 per cent increase compared to MXP.175bn a year earlier. This was ma...
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...