Cement News tagged under: Dewan Cement Ltd
Pakistan: Kohat Cement interest in Dewan Cement23 December 2016, Published under Cement NewsKohat Cement Company Ltd has joined the race to acquire Dewan Cement’s North plant, a 1.134Mta facility located at Hattar industrial estate in northern Pakistan. The company has informed the Security & Exchange Commission of Pakistan and Pakistan Stock Exchange on 16 December that its Board of Directors has decided to participate in the bidding process for the purchase of North cement plant and its related assets from Dewan Cement Ltd. As a result, it has authorised the management to condu... |
Pakistan: Fecto Cement joins race for Dewan assets14 December 2016, Published under Cement NewsFecto Cement has announced that it intends to enter a bid for Dewan Cement’s North plant, a 1.134Mta facility located in Hattar. Earlier this month, Lucky Cement indicated that it would put in a bid for the Hattar plant, while The News reports that a Chinese firm is also in the process of carrying out a due diligence investigation. In a trading update released to the Pakistan Stock Exchange, Fecto Cement said that sales revenues for the first quarter of FY2017 were up by 16.3 per cent to ... |
Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq09 December 2016, Published under Cement NewsLucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News. Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamabad – is well suited. The Basra plant, which Lucky holds as a joint-venture with an Iraqi partner, ... |
Pakistan: Dewan Cement to sell its North cement plant28 November 2016, Published under Cement NewsDewan Cement Ltd has appointed Next Capital Ltd as the financial advisor for sale of its North cement plant, Kamilpur, near Hattar in Khyber Pakhtunkhwa, Pakistan. Next Capital Ltd will explore the possibility of sale of the North plant which has a production capacity of 3800tpd. The Board announced that this plant sale would be run in parallel with the potential sale of 51 per cent of the shares of the company held by Dewan Muhammad Yousuf Farooqui and his associates. |
Pakistan: Dewan Cement profits up 61%01 November 2016, Published under Cement NewsDewan Cement Ltd (DCL) posted a net profit of PKR268m (US$2.55m) for the quarter ended 30 September, a 61.4 per cent increase YoY from the PKR166m registered last year. Company revenue increased 14 per cent YoY (-18 per cent QoQ) to PKR2.94bn, mainly as a result of increasing dispatches and rising prices following a higher federal excise duty on cement manufacturers. Gross margins remained unchanged from the previous year’s figure of 19 per cent. The company report added that “subpar gros... |
Pakistan: Dewan Cement earns profits of US$14.25m03 October 2016, Published under Cement NewsDewan Cement Ltd informed Pakistan Stock Exchange (PSX) that it earned a profit after tax of PKR1.49bn (US$14.25m) in FY16 ending on 30 June 2016 compared to PKR709.66m in corresponding period last year. It translates a hefty growth of 110 per cent in profit on YoY basis. A notice duly signed by Muhammad Hanif German, company secretary and Haroon Iqbal, director, has stated that company sale was increased to PKR12.87bn in FY16 from PKR11.24bn of previous financial year. The company incur... |
Pakistan: Dewan Cement denies Anhui Conch interest16 September 2016, Published under Cement NewsChina's Anhui Cement Co Ltd is reported by Pakistan's local media to have set its eyes on Dewan Cement Ltd (DCL) as it seeks business opportunities in Pakistan. While DCL shares have been trading heavily as a result in the past few months, DCL has denied rumours of a takeover. DCL Director, Haroon Iqbal, and Company Secretary, Muhammad Hanif German, said in response to a Pakistan Stock Exchange (PSE) query whether any Chinese company is buying a substantial stake in the company, "Chinese... |
Pakistan: Environment agency orders two plant closures24 June 2016, Published under Cement NewsPakistan’s Environmental Protection Agency (EPA) has ordered two cement plants to close for filing to install measures to control dust emissions, according to reports in the local press. The plants affected belong to Dewan Cement and Kohat Cement. A spokesperson for the EPA said that both companies had been told to act to curb dust pollution but not done so to date. Dewan Cement’s Hattar plant had been given an eight-month grace period to install German-built dust mitigation technology, ... |
Pakistan: Dewan denies sale of 50% stake23 May 2016, Published under Cement NewsIt has been rumoured that 50 per cent of Dewan Cement Ltd (DCL) shares are being sold to undisclosed strategic buyers. As a result the company’s share value and volume experienced heavy activity in the past weeks on the Pakistan Stock Exchange (PSE). DCL has denied any such sales to the PSE, claiming, “Many shareholders for their personal benefits circulate rumours and speculation, to which we have no control. Further we hereby confirm that we have nothing to do with the trading volume in D... |
Pakistan: Dewan Cement restructuring debt22 June 2015, Published under Cement NewsDewan Cement Ltd (DCL) has taken steps to ease debt burden and improve production efficiency. According to a local brokerage house, the company has taken the first step in converting its debt amounting PKR450m into equity by issuing 45m shares and is planning to further convert debt amounting to PKR500m into 50m shares to its director. This will lower Dewan's financial leverage thereby helping it obtain a loan to meet its working capital requirements. Moreover, management intends to resch... |