Cement News tagged: Corporate
Malaysia: YTL profit increases 40.5% YoY
Malaysian construction conglomerate YTL Corp Bhd saw its profit increased 40.5 per cent to MYR1.93bn (US$601.7m) for the nine months ended 31 March 2014 compared to the same period of the previous year thanks to better performances from its cement, property development and investment and hotel divisions. Despite strong growth in its group profit, YTL’s revenue declined a marginal 1.9 per cen...
Akmenes profit falls by a third, Lithuania
Akmenes Cementas, Lithuania’s only cement manufacturer, last year saw its audited net profit fall by 36.3 per cent to LTL11.676m (EUR 3.38m), from LTL18.329m in 2012. Annual revenues decline by 0.4 per cent to LTL247.557m, from LTL248.43m in the previous year, the company said in its 2013 report submitted to the Center of Registers. Volume sales rose by 6.8 per cent to 1.066Mt from 998,00...
AfriSam launches Supplier Development Centre
AfriSam recently successfully opened its Supplier Development Centre in support of the company’s Enterprise Development Programme which has been implemented as part of a transformation drive in the country, especially in areas where the company operates. The aim of the Supplier Development Programme is to identify black-owned Small, Medium and Micro Enterprises (SMMEs) close to the company’s ...
Cementos Molins posts 1Q14 net profit of EUR6.5m
Spain-based Cementos Molins released its first-quarter 2014 results, showing a net consolidated profit of EUR6.5m, up 37 per cent when compared to 1Q13. The group’s domestic companies saw a loss of EUR7.4m although they ‘improved’ their YoY results by increasing clinker exports and implementing cost-cutting measures, helping to mitigate the effect of lower sales in Spain. Cementos Molins’...
Chettinad purchases shares in Anjani Portland
Chettinad Cement Corporation Ltd has purchased approximately 20.58% of shares of Anjani Portland Cement Ltd from shareholders. Chettinad Cement has reportedly acquired 3784.014 shares through off market purchase for a price of INR61.75/share (US$1.05). Chettinad Cement, based in Chennai, India, announced its plans to acquire Anjani Portland Cement, based in Andhra Pradesh (AP), in March 201...
PPC: first-half cement sales edge higher
PPC announced its group cement sales were two per cent higher for the first half of the year to the end of March 2014. Improvements in export sales and the consolidation of sales from its Rwanda operation and newly-acquired Safika Cement business were partly offset by declining sales volumes in South Africa and Botswana. Group revenue increased by nine per cent to ZAR4157m (2013: ZAR3812m) ...
Italcementi sets Ciments Francais bid price
Italcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m.
Lafarge denies claims of market dominance, Kenya
Lafarge has denied claims by Kenya’s antitrust authority that the cement producer may be flouting domestic competition rules and said it wants to work with the government to boost returns in the nation’s cement industry, reports Bloomberg. The Competition Authority of Kenya is probing the company’s influence on prices through its 59 per cent stake in Bamburi Cement Co and 42 per cent interes...
Goltas Goller Bolgesi Cimento inks loan for investment finance
Turkish cement maker Goltas Goller Bolgesi Cimento Sanayi ve Ticaret said Friday it will sign a US$42m loan agreement with local lender Yapi Kredi to finance its investments. The company will mortgage a US$54.6m property located in the southwestern Turkish province of Isparta as collateral for the loan, it said in a bourse filing.
Cemex announces new chairman of the board and new CEO
Cemex announced today that its board of directors has unanimously appointed Rogelio Zambrano as chairman of the board of directors and Fernando A Gonzalez as CEO, effective immediately. The move follows the sudden death on Monday of Lorenzo Zambrano who had led the Monterrey, Mexico-based Cemex for almost three decades. Mr Rogelio Zambrano previously served as a member of the Board of Di...
Titan recovers in southern Europe and Florida
Titan's first quarter turnover improved seven per cent to EUR251.8m, under the new accounting rules that ignore the turnover of joint ventures, and the EBITDA staged a 30.9 per cent recovery to EUR30.5m. The pre-tax loss was reduced by 58.7 per cent to EUR9.7m while the net attributable loss declined by 59.4 per cent to EUR11m. Net debt at the end of March, however, was down by 9.2...
Kenya: Lafarge under competition probe
Kenya’s antitrust authority may force Lafarge SA to sell some of its domestic interests if the cement maker is found to be flouting domestic competition rules, according to Bloomberg reports. The Competition Authority of Kenya is probing Lafarge’s influence on Kenya’s cement industry through its 59 per cent stake in Bamburi Cement Co and 42 per cent shareholding in East Africa Portland Cement...
EAPCC issues profit warning
East African Portland Cement Co Ltd (EAPCC) expects profit for its full year through June to fall by more than 25 per cent, it said on Friday. The company blamed rising competition in the sector and high staff costs for the forecast. "These challenges have had an adverse effect on sales revenues whilst staff and other unavoidable costs were incurred," EAPCC said in a statement.
Eagle boosted by cement and plasterboard, USA
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March advanced by 36.7 per cent to US$1009.8m. Of this total turnover, cement represented 42.5 per cent, plasterboard accounted for 38.3 per cent, aggregates and concrete for 11.4 per cent and plasterboard liner for 7.7 per cent. The trading profit rose by 64.5 ...
Cementarnica Usje Skopje quarterly net profit more than doubles
Macedonian producer Cementarnica Usje Skopje said on Wednesday its net profit more than doubled to MKD301.4m (US$6.7m) in the first quarter of 2014 from MKD140.6m a year ago. The country's sole cement manufacturer saw operating income rise by 49 per cent YoY to MKD841.9m in the first quarter while operating costs increased by an annual eight per cent to MKD568.5m, Usje said in its income stat...
Egypt: Arabian Cement Co IPO over-subscribed
Egypt's Arabian Cement Company's initial public share offer was 18.5 times oversubscribed, an official at advising bank CI Capital told Reuters on Tuesday. The offer raised US$110m with 85.2 million shares sold in the offer, placed at 9 Egyptian pounds ($1.28) per share, said Hesham Gohar, managing director for investment banking at CI Capital, which was co-bookrunner on the offer alongside E...