Cement News tagged: Corporate
Sri Lanka: Tokyo Cement launches skyscraping brand
Tokyo Cement Group has launched its Nippon Cement-Pro brand. This is a new brand of high-performance cement specially formulated for high-rise buildings/skyscrapers and large-scale projects that require high quality and ultra-strong concrete. With buildings that require more than 30 floors becoming a norm as a result of Sri Lanka's expanding economy, Nippon Cement Pro, offers contractors, ci...
China Shanshui weighs up fundraising options following default
China Shanshui Cement says it is exploring a range of option to raise funds after defaulting on a CNY2bn (US$3.36m) bond last week. The options include issuing new shares to existing or other investors, restructuring part of its assets and securitising some of its assets by creating mortgages, the company said in a filing to the Hong Kong Exchanges & Clearing on Monday. “Each of these propos...
Kenya: ARM seeks KES10.7bn in private bond
ARM Cement is set to raise up to KES10.7bn (US$105m) in debt funding from private investors, to retire short-term debts, Kenya's Business Daily newspaper reported . The cement manufacturer is now raising the amount through a privately placed five-year bond whose offer opened on Thursday last week and runs until 2 December. “The proceeds from the five-year bond will be used to replace exist...
KHD Humboldt Wedag nine-month performance
KHD Humboldt Wedag reported a 26.2 per cent decline in consolidated revenue for the first nine months of the year to EUR125.4m, primarily due to the low order backlog at the beginning of the financial year, the company said in its 3Q15 interim report released last week. Significant contributions to revenue in this nine-month reporting period came primarily from projects in Russia and North A...
Loesche to complete grinding series for Angola plant
Sinoma International ordered Loesche's complete grinding series for the cement plant of Nova Cimangola SA in Luanda, Angola. These will be the first Loesche vertical roller mills in Angola. The order for Nova Cimangola SA includes one cement raw material mill of the type LM 48.4, with a capacity of 400tph and two cement mills of the type LM 46.2+2 C/S, which are designed to have a capacity of...
Morocco: Cimar sees 7.6% EBITDA rise in 3Q15
Italcementi-owned Ciments du Maroc (Cimar), Morocco, saw its turnover rise 1.8 per cent to MAD823m (EUR77.4m) in 3Q15, according to analysts at BMCE Capital Bourse. The figures do not reflect the current slowdown in public works and a lack of investment in social housing, which saw cement and clinker flows fall by 15.8 per cent QoQ (-4.2 per cent in 9M15). The rise in the cement price as wel...
CRH sues for return of files seized in competition inquiry
Irish building materials major CRH has gone to the High Court to seek the return of documents seized by the Competition and Consumer Protection Commission (CCPC) in a "dawn raid" in May, The proceedings relate to a raid carried out on CRH subsidiary Irish Cement earlier this year as part of a competition inquiry. CRH has now lodged court proceedings seeking a declaration that certain se...
Fujairah Cement Industries net profits rise 45%
Fujairah Cement Industries (FCI) announced a 45 per cent increase in its net profits for the first nine months of 2015, compared to the same period last year. Profits reached AED24.7m (US$6.7m) in the first nine months this year, up from AED17.06m (US$4.64m) in the same period of 2014. The statements also showed a rise in the sales by about 1.5 per cent to AED454.27m, from AED447.4m in 2014....
FLSmidth 3Q order intake increases 16%
FLSmidth reported that its overall order intake increased 16 per cent to DKK5151m in the third quarter of 2015. Meanwhile the order backlog decreased 16 per cent to DKK16,666m. Revenue fell by seven to DKK4609m while EBITA was down by 27 per cent to DKK 358m. Net profit amounted to DKK -84m (3Q14: DKK 215m) The Danish equipment supplier highlighted that reported numbers in 3Q were impacted...
Northern Cement Co nine-month net profit drops, Jordan
Northern Cement Company posted a drop of 22.7 per cent in its nine-month profit, as it slipped to JOD10.9m (US$15.3m) this year, down from JOD14.1m ($19.8) last year. In 1H15, the Amman-listed company’s profits fell into 24.15 per cent decline, reaching JOD7.42m (US$10.4m). Northern Cement Co, located in Muwaqqar, 40km east of Amman, was established in 2007 and started supplying cement to th...
Cementos Portland to refinance EUR817m debt, reports 9M15 results
Cementos Portland is currently analysing “various alternatives” to refinance EUR817m of debt, 59 per cent of its total liabilities, which expires in 2016. "The debt refinancing of the syndicated loan that matures in 2016 is ongoing and the company works in different scenarios with FCC in a coordinated way," said the cement maker on the occasion of the presentation of its quarterly results. ...
Lafarge begins public offer for Heracles shares, Greece
The Greek Capital Market Commission has approved a Lafarge Cementos SAU information bulletin over a public offer to the shareholders of Heracles Cement SA, submitted on 30 July 2015. The public offer envisages the acquisition of all common nominal voting shares of Heracles at a price of 1.23 euros per share incash. The public offer period began yesterday and ends on 11 December 2015. Followi...
Cemex recognised for environmental disclosure
Cemex announced that it was ranked second in the Latin American Climate Disclosure Leadership Index, a ranking compiled by CDP that recognises leading companies in the disclosure of data related to environmental and CO2 emissions performance. Cemex earned this honour for its sound sustainability practices and its comprehensive disclosure, which earned a score of 99 out of 100 for the transpa...
Buzzi boosted by strong US performance
Buzzi Unicem's turnover for the first nine months improved by 5.2 per cent to EUR1998.1m while EBITDA rose by 16.4 per cent to EUR352.1m. The trading profit was ahead by 52 per cent to EUR206.9m and net financial charges rose by 65.2 per cent to EUR83.8m. T he contribution from associates increased by 38.0 per cent to EUR50m and the pre-tax profit was ahead by 46.9 per cent to EUR178.9m. Th...
Bestway Cement 1QFY16 turnover jumps 38%
Pakistan's largest cement producer, Bestway Cement Ltd, announced financial results for first quarter from July to September 2015. Turnover on a consolidated basis jumped by 38 per cent from PKR6.8bn to PKR9.4bn (US$89m). This was largely attributed to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices during the quarter. Gross margin of PKR3.7bn gre...
Cementir: good Nordic & Malaysia results
Cementir's turnover for the first nine months of 2015 edged ahead by 0.7 per cent to EUR719.7m as good Nordic and Malaysian performances offset the weakness experienced in Turkey, Egypt and China, while Italy was broadly stable. EBITDA, however, did decline by 1.9 per cent to EUR125.3m and the trading profit came down by 5.7 per cent to EUR63m. After a net financial income of EUR0.6m compare...