Cement News tagged: Corporate
KHD sees slight rise in 1H revenue
German equipment and cement industry services specialists KHD Humboldt Wedag reported a slight increase in first-half revenue compared to the same period of last year but saw a low order intake due to poor market conditions. In a statement released today, the company said its performance in the first six months to the end of June 2014 “continued to be affected by weak market conditions and ...
R&I upgrades Taiheiyo to BBB+
Rating and Investment Information Inc (R&I) has upgraded Taiheiyo Cement to to BBB+ from BBB. The outlook is ‘Stable’. The ratings agency notes that after seeing demand plummet in key markets of Japan and the US in FY09 (ended March 2010), Taiheiyo Cement has since improved its cost structure by slashing fixed expenses through the streamlining of its production and supply structure and reduc...
Ceskomoravsky full-year profit hit by low domestic consumption levels
Ceskomoravsky Cement, the leading cement producer in the Czech Republic, posted a profit of CZK586m (EUR21.122m) last year, continuing a decline that began in 2009. The wholly-owned HeidelbergCement group company saw sales revenue down by CZK100m to CZK2.68bn, Ceskomoravsky Cement said in its annual report. The decline is attributed to falling domestic consumption which last year was down ...
AdBri 1H net profit falls, revenue edges ahead
Adelaide Brighton reported a 3.9 per cent rise in first-half revenue to AUD602m, as improved pricing and increased cement from the residential sector on the eastern seaboard offset a decline in project volumes in South Australia and a reduction in lime sales volumes. The company reported a net profit for the half year ended 30 June 2014 of AUD51.2m, down 15.9 per cent compared to the same ...
Dalmia plans merger of listed cement units
India-based Dalmia Group is considering merging its two listed cement units, OCL India and Dalmia Bharat, according to local press reports citing sources with knowledge in the matter. Following the merger, the swap ratio wil favour shareholders of OCL India, reports India Investment News. As part of the restructuring process, Dalmia Bharat also aims to merge its unlisted subsidiary Dalmia Bha...
Lafarge Cement Wapco pretax profit and revenue rise
Lafarge Cement Wapco reported a double-digit rise in pretax profit and revenue for the first half of 2014 as demand remained strong despite the rainy season slowing building activity. The company, which last month merged with Lafarge’s South African subsidiary, reported a pretax profit of 29 per cent rise in first-half to NGN17.74bn (US$85m). Revenue rose by 12 per cent to NGN55.35bn (US$341...
Cementarnica Usje 1H14 net profit up 28% YoY
Macedonian producer Cementarnica Usje AD Skopje said on Tuesday its consolidated net profit rose 28 per cent to MKD789.2m (EUR12.8m) in the first half of 2014. Operating revenue rose by 15 per cent to MKD2bn in the six months to the end of June while operating costs increased five per cent to MKD1.3bn, Usje said in a consolidated financial statement. Usje is Macedonia’s sole cement produce...
Fitch: Votorantim Cimentos ‘backbone’ of parent rating
Fitch has affirmed the ratings for Votorantim and its subsidiaries, highlighting that its cement division continues to be the “backbone of the parent company's rating”. The ratings agency notes that Votorantim Cimentos (VCSA) is the key operating subsidiary of Votorantim Participacoes SA (VPAR). "VCSA is poised to improve its operating cash flows due to investments that have increased its ce...
KHD replaces existing bonding line facility with 'long-term solution'
KHD Humboldt Wedag International AG (KHD) has replaced its existing bonding line facility with a new "long-term solution", the German equipment specialists said in a statement released yesterday. KHD has cancelled its existing bonding line facility with a consortium of banks, which had issued bank guarantees of over EUR80.3m as per 31 December 2013. It has replaced this facility with two bil...
Lafarge Zambia reports first-half profit rise
Lafarge Zambia reported a 66 per cent rise in first half profit to ZMK181m (US$29,86), due in part to favourable volumes and cost control measures. Company chief executive officer, Emmanuel Rigaux, highlighted that the results improved despite domestic and export markets facing challenges with stiffening competition, cost inflation and a number of changes in the regulatory environment. "Toge...
China Shanshui Cement 1H hit by lower prices
China Shanshui Cement Group Ltd announced its unaudited interim results for the six months ended 30 June 2014 which saw softer demand and lower average selling prices dent profitability. During the reporting period, the Group's revenue reached CNY7349m (US$1.19bn) while gross profit was CNY1534m. Profit attributable to equity shareholders amounted to CNY168m with basic earnings per share rea...
Hungary: HCM needs help to relaunch cement production
Hungarian cement producer Hejocsabai Cement es Meszmu (HCM) will need government support to restart cement production at its Miskolc works, according to the company's managing director, Janos Kalman. The project could only be carried out after receiving the required permits and a "specific government decision" could speed up the process. HCM intends to invest HUF9bn (US$38m) on taking t...
Taiwan Cement hikes prices 3.2%
Taiwan Cement announced a rise of cement prices in Guangdong and Guangxi, China, by CNY10 (US$1.63)/t or 3.2 per cent to CNY320/t. The company said that as the China market has entered peak season, cement stocks in the Pearl River Delta have been falling, enabling price rises to go ahead. Taiwan Cement said it would keep a close eye on the market's reaction and does not rule out a furthe...
TCL shareholders axe old board
Six directors have resigned from the board of Trinidad Cement Ltd (TCL) in a meeting held in Port-of-Spain on Tuesday following a dramatic compulsory meeting of shareholders fed up with the dire financial performance of the indebted Caribbean cement producer. Businessman Wilfred Espinet was elected Chairman of the new TCL board, along with retired public servant Alison Lewis, Jamaican busine...
FLSmidth wins DR Congo plant project
FLSmidth has won a contract worth EUR68m from Nyumba Ya Akiba SARL to supply a complete package of equipment and engineering for a greenfield cement plant in the Democratic Republic of Congo. The plant will be located in the province of Bas-Congo, approximately 250km west of the capital Kinshasa. Nyumba Ya Akiba SARL is a joint venture between Pakistani Lucky Cement Ltd and the Rawji Group o...
Fauji Cement full-year net profit rises 27% YoY
Pakistan-based producer Fauji Cement reported a net profit of PKR2.39bn (US$23.7m) for the fiscal ending 30 June 2014, up 27 per cent YoY compared to PKR1.88bn in the year before. An increase in cement prices and lower financial charges contributed to the Fauji Cement’s earnings, a report by Global Research said. During the fourth quarter, earnings declined 46 per cent QoQ to PKR403m due...