Cement News tagged: Corporate
Siam Cement announces tech investment plan
Siam Cement Group (SCG) has announced it plans to spend THB200–250bn (US$6.1-7.7bn) for a new five-year investment budget for the 2015-2019 period although president and CEO, Kan Trakulhoon said the final sum was expected to surpass the current five-year budget. In the new budget period, the company intends to become a technology-driven firm and is eying investment in a European tech compan...
China: Anhui Conch boosts profits and Gansu Shangfeng Cement invests
Anhui Conch Cement reports that its net profit attributable to equity shareholders for the first nine months of 2014 rose 51.8 per cent YoY to CNY8173m (US$1.3bn). The company’s basic and diluted earnings per share were CNY1.54. The revenue was CNY43,675m, an increase of 18.01 per cent from a year earlier. For the third quarter of 2014, Anhui Conch's net profit rose 1.2 per cent YoY to CNY2352...
Aditya Birla Group bids for Lafarge, Holcim units
India's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippines, valued at US$1.4bn. The group had started operations in the Philippines several years ago and earmarked Brazil as a key place for expansion three years ago. "Aditya Birl...
Peru: Cementos Pacasmayo to rebound in 4Q14
Peru’s Cementos Pacasmayo is expected to see a two per cent YoY drop in output volumes in 3Q14, according to investment bank JP Morgan. However, the cement producer is forecast to rebound in the 4Q14 by two per cent and recorded gains of eight and nine per cent in 2015 and 2016, respectively. The bank also has good news for Cementos Pacasmayo’s EBITDA margin as it foresees a 0.6 percentage ...
Saudi Cement posts stable 3Q profit
Saudi Cement reported a modest rise in 3Q net profit from SAR229m (US$61m) to SAR232m in the year-ago period, according to a bourse filing. The company attributed the rise to improved efficiencies although quarterly cement sales fell due to declining domestic demand.
Lafarge Pakistan launches new precast cement
Lafarge Pakistan held a launch ceremony for its new specialised OPC, Stallion, an early-setting cement formulated to meet the needs of the precast industry. Marketing director, Rizwan Jamil, said, “Pakistan’s cement industry remains quite basic due to lack of initiatives by the players. Lafarge Pakistan is committed to lead the change by bringing new innovative value offerings tailored to ...
Trinidad Cement 9M14 revenues rises TTD97.2m
Trinidad Cement Ltd (TCL) has seen its revenues rise by TTD97.2m (US$15.4m) in the first nine months of 2014. Revenues increased to TTD1.587bn from TTD1.49bn when compared with the same period last year. Profit after taxes amounted to TTD63.7m compared with TTD78.9m in the prior-year period. The advance has been attributed to growth in the domestic cement markets of Trinidad and Jamaica while...
Thailand: Siam Cement suffers market dip
Thai domestic cement demand dipped around three per cent YoY in 3Q14, as no new infrastructure projects broke ground during 9M14, while many old projects were completed, claims the Nation paper. The weaker demand probably squeezed the ex-factory price by THB25-50/t QoQ to THB1925-1950/t (US$59.60/t to US$60.40/t) in 3Q14, which would be flat YoY. Sales of building materials in Thailand are...
UltraTech sees 47% rise in net profit
UltraTech Cement reported a 47 per cent YoY increase in its consolidated net profit to INR4.16bn (US$67.9m) for July-September, driven by a strong volume growth of 11 per cent and additional volumes from Jaypee’s cement units acquired last year. In July-September 2013, the company’s net profits reached INR2.83bn. Revenues for the period rose from INR48.49bn in 2013 to INR57.72bn in 2014. On...
TPI Polene to invest THB3bn to double WtE power plant capacity
TPI Polene, Thailand’s third-largest cement producer intends to spend THB3bn (US$93m) to double the capacity of its waste-to-energy (WtE) power plant in Saraburi to 120MW. Pakkapol Leoprirut, assistant vice-president for finance, said the company's waste-to-energy power plant had been producing 60 MW to serve the cement work. with all new output will also serve the same plant. The new works...
Sagar Cement posts INR2.82 net profit
India-based reported a net profit of INR2.82bn in the quarter ended 30 September 2014, compared with a INR115m loss the previous year. The cement maker’s revenues rose by 23.6 per cent to INR1.25 in the July-September quarter. The other income of the cement company included INR3.49bn profit that was realised from the sale of its stake in tthe joint venture with Vicat group.
Cemex Lloseta completes environmental upgrade
Cemex’s 0.804Mta Lloseta plant in Mallorca, Spain, has concluded its US$16m environmental upgrade. The work included noise abatement systems, paving roads for heavy traffic as well as erecting covered raw material and coal storage silos. The plant also raised alternative fuel use from five to 35 per cent and installed more efficient burners, effectively reducing CO2 emissions by 3.8 per cent ...
Maruxa Suarez is new Lafarge Villaluenga plant director
Maruxa Suarez has been appointed as the new plant director of Lafarge’s Villaluenga de la Sagra works in Toledo, Spain. She replaces Mariano Garcia Hoyos, who was appointed industrial director of Lafarge Malaysia. With degrees in Chemistry from the University of Cordoba and in Biochemistry from the University of Sevilla, Ms Suarez holds a Master in Biotechnology. She has been employed by L...
Matteo Rozzanigo new FYM CEO
Matteo Rozzanigo has been appointed as CEO of FYM, Italcementi’s Spanish subsidiary. He is tasked with positioning the company in a cement market, which is expected to stabilise and recover slowly after a prolonged crisis period. He replaces Mario Domenico Bracci, who held the post for the past three years and will now assume responsibilities for Ciments Maroc. Mr Rozzanigo hold an Industr...
Holcim and Lafarge to identify non-core assets in India for divestment
Holcim and Lafarge have begun an internal process in India to identify assets which have to be divested to adhere to the requirements of the country’s Competition Commission. Two sources familiar with the matter told The Economic Times of India that: “Both the companies are running processes to understand which are the plants and operations which are not linked to their strategic global pla...
Siam Cement 3Q earnings’ outlook
Siam Cement is expected to post a weak net profit for the third quarter of 2014, down 29 per cent YoY and 18 per cent QoQ, according to analysts at SCB Securities. The YoY drop reflects: no extra gain from the revaluation of its investment of THBt1.7bn as in 3Q13, the absence of 3Q13's THB840m inventory gain from its chemical unit and a slight decline in contribution from cement and buildin...