Cement News tagged: Corporate

Semen Indonesia in joint venture talks

10 February 2014, Published under Cement News

Semen Indonesia is in early talks to establish joint ventures with three potential partners, the company’s president director, Dwi Soetjipto, has revealed. Speaking to local press, Dwi said that three investors have “declared their interest to create joint ventures with Semen Indonesia,” including investors from Indonesia and overseas. Indonesia’s leading cement producer is still reviewi...

KHD misses 2013 margin guidance, Germany

23 January 2014, Published under Cement News

KHD Humboldt Wedag of German has said it will miss its margin guidance for the 2013 financial year due to “unexpected profit deterioration in the latest cost estimations of a few major projects.” In a statement released yesterday, the Germany-based equipment supplier said that according to preliminary unaudited figures, it will close 2013 with a “significant increase in revenues”, EBIT o...

Attock Cement first-half profit declines, Pakistan

24 January 2014, Published under Cement News

Pakistan producer Attock Cement reported a nine per cent decline in net profit for the the first half of FY14 to PKR871m (US$8.26m). “The decline in profitability of the company is due to a higher tax rate,” JS Global Capital analyst Atif Zafar said, adding that inflationary pressures, particularly higher electricity rates in August last year negatively affected earnings.  In the second qua...

Unye Cimento to open Romanian branch

24 January 2014, Published under Cement News

Turkish cement producer Unye Cimento Sanayi ve Ticaret is to open a branch for the import, export and sale of bulk and bagged cement in Romania’s Black Sea town of Mangalia, the company said. The branch will take over the operations of the company’s Romanian unit Unye Cem SRL, Unye Cimento said in a bourse filing on Tuesday, without providing further details.

Huaxin expects strong rise in full-year net profit, China

Huaxin expects strong rise in full-year net profit, China

22 January 2014, Published under Cement News

Huaxin Cement expects net profit to increase by between 105-125 per cent YoY in 2013 compared to a profit of CNY556m in 2012 when it suffered from severe pricing competition. The Hubei Province-based producer, part of the Holcim Group, attributes the profit growth to increasing sales and reduced production costs.

Sai Son Cement reverses losses, Vietnam

22 January 2014, Published under Cement News

Vietnamese producer Sai Son Cement (SCJ) swung to a net profit of VND7.1bn (US$80,648) in the fourth quarter of 2013 after a net loss of VND2bn in the same period the year before. Revenue amounted to VND104bn (US$4.93m) in the final quarter of last year, compared to VND72bn over the same period of the previous year. For the full year, SCJ reported VND7.6bn net profit on revenue of VND320bn c...

Egyptian court accepts Assiut appeal

Egyptian court accepts Assiut appeal

23 January 2014, Published under Cement News

An Egyptian court has accepted an appeal by Assiut Cement, overruling a decision to annul an agreement under which Cemex acquired a controlling stake in the Egyptian unit. The case has now been referred to an administrative court, a Cemex official has said. In 1999, Cemex bought a controlling stake in Assiut Cement from Egypt’s state-owned Metallurgical Industries Holding Co as part of the g...

Bim Son Cement sales reach 3.9Mt in 2013

21 January 2014, Published under Cement News

Vietnam-based producer Bim Son Cement JSC (BCC) sold 3.9Mt of cement and clinker in 2013, comprising 3.4Mt of cement and 588,000t of clinker. The company’s clinker output was more than 3.9Mt last year. Its revenue rose by 0.6 per cent YoY to VND3.8trn, the Dau Tu newspaper reported. For this year, Bim Son Cement targets output of more than 3Mta of clinker, while cement and clinker sales will...

UltraTech quarterly profit hit by subdued demand

23 January 2014, Published under Cement News

UltraTech Cement, the leading cement producer in India, reported a 38.43 per cent decline in net profit for the last three months of 2013 as sluggish demand leads to a weaker pricing environment. Net profit during the October-December quarter fell to INR370 crore compared to INR601 crore in the same period of 2012.  Net sales in the three month period also declined marginally to INR4786 cro...

Tabuk full-year net earnings decline, Saudi Arabia

20 January 2014, Published under Cement News

Tabuk Cement' FY13 net earnings decreased 5.86 per cent in 2013 to SAR173.4m (US$46m) from SAR184.2m the year before. The Saudi-based producer said net earnings in the fourth quarter of 2013 also fell by 16.26 per cent YoY to SAR38.1m (US$10.2m) compared to SAR45.5m in the comparative period of 2012.  

Jidong sees strong rise in 2013 net profit

20 January 2014, Published under Cement News

Tangshan Jidong Cement Co Ltd expects net profit to be between CNY306m and CNY360m (US$50.6m-59.48m) in 2013, a YoY increase of 70 per cent to 100 per cent, the company said. The Hebei Province-based cement manufacturer attributes the profit growth to an improved reduction in production costs and increasing sales volume.

UK regulator demands domestic shake up

23 January 2014, Published under Cement News

The structure and conduct of the UK cement sector restricts competition, costing consumers around GBP50m annually, and therefore requires decisive market intervention, according to the conclusions of the two-year investigation by the UK’s Competition Commission published this week. The investigation did not, however, identify any problems with the markets for aggregates or RMC. The Commissio...

Fitch Affirms Cementos Pacasmayo rating

16 January 2014, Published under Cement News

Fitch has affirmed ratings of Peruvian cement producer Cementos Pacasmayo. The ratings Outlook is Stable. The following ratings have been affirmed: • Foreign currency Issuer Default Rating (IDR) at 'BBB-' • Local currency IDR at 'BBB-' • US$300m senior unsecured notes at 'BBB-'. Fitch said the ratings reflect the company's solid business position as the only cement producer in Peru's nort...

Yamama Cement net profit rises 6.4% YoY

16 January 2014, Published under Cement News

Yamama Cement Co of Saudi Arabia said yesterday its net profit for 2013 rose by 6.4 per cent to SAR870m (US$232m), up from SAR818m a year ago. The increase was attributed to a rise in extraordinary gains from the sale of stakes in affiliate companies, Yamama Cement said without giving exact figures. The operating profit declined to SAR829m from SAR863m.

Conch expects strong rise in 2013 profit

17 January 2014, Published under Cement News

Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013. In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19.  According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to...

Semen Indonesia eyes further Asian expansion

15 January 2014, Published under Cement News

Following the acquisition of a majority stake in Vietnam-based cement producer Thang Long Cement in 2012, Semen Indonesia is now setting its sights on expanding into Bangladesh as well as completing a deal in Myanmar this year. “We will probably acquire grinding mills in Bangladesh [...] but not this year,” Semen Indonesia corporate secretary Agung Wiharto told the Jakarta Post. Wiharto ...