Cement News tagged: Corporate
Anhui Conch Cement reports decline in operating profit
Operating profit at Anhui Conch Cement fell 31 per cent YoY to CNY7.05bn (US$1.1bn) in the nine months through September on the back of weaker demand and pricing competition. Revenue dropped 13 per cent to CNY37.9bn, the Shanghai-listed company reported Tuesday.
CIMAF inaugurates Cameroon plant
Ciment de l’Afrique (CIMAF), a subsidiary of the Addoha Group of Morocco, has opened its new factory in Cameroon. The new plant, located in the industrial area of Bonaberi in Douala, was inaugurated by the Prime Minister of Cameroon, Philemon Yang. Commissioning of the plant comes nearly a year after the start of cement production by the plant with a current capacity of 500,000tpa.
SCCC third-quarter net profit down on weaker demand and pricing
Siam City Cement Co (SCCC) of Thailand posted a 3Q15 net profit of THB823m (US$23.1m), falling 22 per cent YoY. Lower domestic cement demand and selling price led the company's income to fall five per cent YoY to THB7419m. Although exports to neighbouring countries (eg, Cambodia, Myanmar, and Laos) grew, it was not strong enough to offset declining domestic sales as price competition intens...
HAZEMAG supplies Lehigh Cement (USA)
Lehigh Cement Company (Heidelbergcement Group) ordered a semi-mobile limestone crushing plant at HAZEMAG for its Union Bridge works, USA. The plant will process up to 2500tph of limestone with a feed size of up to 2000mm. The material is discharged by means of a HAZEMAG apron feeder HAF 25160 from a 400t feed hopper. The fines in the feed material are screened at 100mm on a HAZEMAG roller scr...
Oman: OCC net profit impacted by gas price hike
Oman Cement Co (OCC) reported a 38.7 per cent fall in net profit for the nine-month period ended 30 September 2015, mainly due to the increase in gas prices from the beginning of this year. During the period net profit dropped to OMR6.99mnfrom RO11.41mn a year earlier. The decrease in profit is mainly due to higher energy costs incurred by the company as a result of the doubling of gas prices...
LafargeHolcim reportedly plans to launch downsizing plan in Spain
LafargeHolcim plans to launch a downsizing plan for 15 per cent of its workforce in Spain, according to local press reports. The launch of the downsizing plan was attributed to the difficulties that the company faces in Spain, due to the low cement demand in the country and the overlapping of workforces following the merger of Lafarge and Holcim, market sources said. LafargeHolcim currentl...
Penta Machinery is the new Distributor for Terex MPS Products in Uganda and Kenya
Terex® Minerals Processing Systems, a leader material processing technology for modular, portable and static crushing and screening equipment, announced the appointment of Penta Machinery as a new Distributor for Kenya and Uganda. Penta Machinery will now provide coverage for new equipment purchases and service and support in Kenya and Uganda. Customers’ needs will be met by a dedicated team ...
Peru: Unacem nine-month net income up 16.2%
Peru's largest cement producer Unacem boosted net income by 16.2 per cent over the nine months to the end of September 2015 due to higher prices and lower costs. Unacem posted a PEN176m (US$55m) profit as sales rose 5.5 per cent to PEN1.37bn in the first three quarters of this year, the Lima-based company said in a corporate filing to securities regulator SMV. The company said it cut operati...
SCG reports third-quarter results, names new chief
Siam Cement Group (SCG), Thailand's largest industrial conglomerate, said on Wednesday its quarterly net profit rose 15 per cent YoY as improved margins from petrochemical products offset weak performance of cement and packaging businesses. July-September net profit was THB9bn (US$253.59m). But profit dropped 19 per cent from the previous quarter due to weaker chemical prices and inventory l...
Japan: Sumitomo Osaka Cement operating profit seen rising
Japan-based Sumitomo Osaka Cement's group operating profit is expected to jump 13 per cent for the April-September half on rising sales and declining coal prices, according to a Nikkei earnings preview report. The profit of around JPY10bn (US$82.1m) would be a record for the half, surpassing guidance of JPY9.1bn. Sales likely grew three per cent to around JPY115bn, edging above guidance of JP...
Dangote Cement 9M15: new operations help offset weaker domestic demand
Dangote Cement said nine-month profit gained 12 per cent as its new operations across the African continent helped offset weaker demand in its home market of Nigeria. Net income was NGN158bn (US$794m) in the nine months through September, compared with NGN141bn a year earlier, the company said in a statement on Monday. Sales rose 18 per cent to NGN366bn. Lower oil prices and a weaker currenc...
Eagle Materials reports record quarterly cement earnings and volumes
Eagle Materials Inc posted yesterday record quarterly Cement and Paperboard division operating earnings as demand for the company's building materials and construction products remained strong in each of its regional markets “Eagle's construction products and building materials businesses continued to perform exceptionally well during the second quarter, with the Cement and Paperboard busi...
Lafarge Africa Plc profit slips 6.5%
Lafarge Africa Plc has reported a profit after tax of NGN29bn (US$145.7m) for the nine months ended 31 September 2015, compared with NGN31bn recorded in the corresponding of 2014. The company said Nigerian unit Ashaka Cement's numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations. It added that industrial performance ...
Lafarge Malaysia Bhd considers Sarawak investment
Lafarge Malaysia Bhd is considering to re-operate in Sabah and Sarawak regions amid the huge potential, its newly-appointed president and chief executive officer, Thierry Legrand, has indicated. Mega projects in the region include the MYR16.1bm Pan Borneo Sarawak Highway. Mr Legrand told local press that the company would consider proposing the usage of cement and concrete-based material in ...
ARM swings to nine-month net loss, Kenya
Athi River Mining (ARM) posted an after-tax loss of KES469m (US$4.6m) for the nine months to the end of September 2015, largely attributable to the depreciation in regional currencies against the dollar. The cement maker, which reported an after tax profit of KES1.1bn in the same period of 2014, said revenue for 9M15 rose seven per cent to KES11.7bn, thanks to increased cement sales in Kenya ...
LafargeHolcim successfully completes squeeze-out of Lafarge SA
LafargeHolcim today announced on Friday it has successfully implemented the squeeze-out of Lafarge SA. With this the shares of Lafarge SA are now delisted from Euronext Paris as of today. "The completion marks an important and final step in the merger process of the Group’s legacy companies and allows LafargeHolcim to continue focusing on delivering the synergies and progress with the integrat...