Cement News tagged: Corporate
QNCC full-year profit up 10%
Qatar National Cement Company (QNCC) reported a 10.28 per cent rise in net profit to QAR463.5m (US$127.3m) for the 12 months to the end of December 2015 compared to QAR420.3m in the same period in 2014. Earnings per share grew to QAR 8.58 in 2015 compared to QAR7.78 a year earlier, according to a Qatar Stock Exchange bulletin. QNCC Board of Directors have recommended distribution of 40 per ce...
Hanson UK appoints new CEO
Daniel Cooper has been appointed chief executive officer of Hanson UK, replacing Patrick O’Shea, who stepped down at Christmas after eight years at the head of the construction materials business. Daniel was previously northern regional general manager for Hanson Australia. He graduated from Murdoch University in Perth with a double major in commerce and economics and joined Pioneer Concrete ...
Bolivia: Oruro plant online in 2017
Work on the new Oruro cement works in Caracollo, owned by Empresa Pública Productiva Cementos de Bolivia (Ecebol), is steadily progressing. Following an inspection of the construction of the Oruro cement works in Caracollo, engineering works have advanced by 17 per cent and the overall project has been completed by around a quarter. Therefore, the commissioning of the plant is expected in 2...
UltraTech 3Q revenues rise 5%
Indian cement major UltraTech Cement reported five per cent revenue growth for the 3QFY15-16, driven by seven per cent volume growth while the cement pricing environment remained subdued. During the September-December 2015 period, consolidated net sales increased to INR61.08bn (US$898m) versus INR58.32bn in the corresponding period of the previous year. EBIT stood at INR12.45bn, up by 18 p...
Holcim Indonesia completes acquisition of Lafarge Cement Indonesia
Holcim Indonesia Tbk has acquired Lafarge Cement Indonesia, following the merger of the two parent companies. The company has signed a conditional purchase agreement with respect to the purchase of all the shares owned by Financière Lafarge SA of Lafarge Cement Indonesia on 29 December 2015. Closing of the transaction is dependent on the fulfillment of several conditions, including ap...
Southern Province Cement 4Q15 results beats estimates
Saudi-based Southern Province Cement Co (SPCC) posted a strong set of results for 4Q15, with net profits at SAR298m (US$79.5m), coming in ahead of Al Rajhi Capital and consensus estimates of SAR263m and SAR257m, respectively. The rises came on the back of increased sales volumes and lesser use of imported clinker, which in turn led to lower cost of goods sold, Al Rajhi Capital said. The c...
Sagar reportedly in talks to buy Jaypee's Andhra Cements
Sagar Cements is in advanced talks to acquire Andhra Cements from the Jaypee Group, the Economic Times (ET) of India has learnt from two sources. JSW Cement is another potential contender, according to the sources. Andhra Cements has two plants in the southeastern Indian state of Andhra Pradesh with a combined capacity of 2.6Mta. It also has a 25MW captive power plant under construction. Th...
SCC Cement-Building Materials division facing near-term challenges
Siam Cement Co (SCC) is expected to report good fourth-quarter earnings, but its Cement-Building Materials' (CBM) division is expected to come under pressure from depreciation expenses related to Asean cement plants and weaker consumption in its home market of Thailand, Bualuang Securities writes. The research house expects SCC to report a consolidated 4Q15 net profit of THB9.5bn, up eight ...
Saudi Cement Co reports drop in 4Q profit
Saudi Cement Co reported a 32.8 per cent drop in fourth-quarter net profit on account of lower sales and an impairment charge for two kilns. In the three months to the 31 December 2015, the cement producer posted a net profit of SAR180m (US$48.03m), down from SAR268m in the corresponding period of 2014, the company said in a bourse filing. The drop was attributed to lower sales, and booking a...
KKR to swap stake in Dalmia Cement with listed parent
Private equity firm KKR is swapping its stake in Dalmia Cement for a piece of its public listed parent, according to a stock market disclosure on Friday. "Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR600 crore [INR6bn/US$88.7m] in cash," Punit Dalmia,...
Philippines: Republic Cement & Building Material plans to delist
Republic Cement & Building Materials Inc (RCBM) has applied for delisting of its shares from the Philippine Stock Exchange (PSE), effective 15 March 2016.The move follows the acquisition by AEV CRH Holdings of RCBM. Last August AEV CRH conducted a tender offer for 649.08m common shares held by RCBM’s minority shareholders at PHP10.26 (US$0.21) each. As of 15 September, RCBM’s publicly-owned c...
HeidelbergCement issues EUR625m of debt certificates
HeidelbergCement has successfully issued debt certificates in the amount of EUR625m, thereby further strengthening its financing structure. Due to high demand, it was possible to significantly increase the issue volume from initially EUR400mto EUR625m, the German building materials major highlighted. The newly-issued debt certificates, with a maturity date of 20 January 2022, consist of two t...
Anglo American completes exit from Tarmac
Anglo American plc announces that it has completed the sale of its interests in the operating joint venture entities which have historically operated under the Tarmac name in the UAE, Oman and Qatar to Colas Moyen Orient SAS, a subsidiary of Colas SA, a road and transport infrastructure construction company forming part of the Bouygues Group. The sale to Colas of an additional non-operating jo...
Bestway boosted by Pakcem contribution
Bestway Group of the UK, parent company of Pakistan's largest cement producer, announced that its consolidated turnover for the year ending 30 June 2015 increased by 20 per cent to GBP3.06bn from GBP2.55bn in 2014. Profit before tax for the year ended 30 June 2015 was up 39.9 per cent to GBP373.8m from GBP267.1m in 2014. All group businesses continued to be profitable, the group noted. Commen...
Algeria: GICA breaks production record in 2015
Groups industrial des cements d’Algérie (GICA) broke its production record in 2015 when it manufactured 12,143,557t of cement, up five per cent when compared with its output of 11,55,280t in 2014. The volumes produced by the group’s 12 cement plants were “all sold in the domestic market, thereby honouring all orders and requirements expressed by the construction market,” said GICA. In t...
China Resources warns of significant decrease in full-year attributable profit
China Resources Cement said it expects profit attributable to the owners for the year ended 31 December 2015 to significantly decrease as compared with that of the previous year. Such decrease is primarily attributable to the lower selling prices of cement and clinker in China in 2015 as compared with those in 2014. It is also due to the depreciation of the yuan against other currencies since...