Cement News tagged under: Pioneer Cement Ltd
Pioneer Cement to acquire Galadari Cement06 October 2017, Published under Cement NewsPioneer Cement Company Ltd (PIOC) in a stock filing informed that it has signed a Memorandum of Understanding with sponsors of Galadari Cement (GULF) Ltd (GCGL) to acquire 100 per cent stake of the company. GCGL was incorporated in 1980 with acquisition of land at District Hub, in Baluchistan province of Pakistan, while formal construction of plant had begun during 1998. The plant's main equipment was procured from European manufacturers. However, due to legal and inheritance issues the ... |
Pioneer Cement net income rises 16%28 September 2017, Published under Cement NewsPioneer Cement Ltd posted a net income of PKR2.91bn (US$27.6m) in the fiscal year ended on 30 June, up 16 per cent compared with PKR2.51bn in the previous year, according to a company notice to the Pakistan Stock Exchange (PSX). Revenues of the company surged by 13 per cent YoY mainly driven by clinker sales made to Fauji Cement during the year. Gross margins of the company remained above industry average of 40 per cent, however, they dipped slightly by 100 basis points YoY to 42 per ce... |
Pakistan: Pioneer Cement inks agreements with Sinoma-Chengdu09 February 2017, Published under Cement NewsPioneer Cement Ltd (PIOC) informed Pakistan Stock Exchange (PSX) that it has signed a contract with Sinoma-Chengdu of China for procurement of its new cement works, a 12MW waste heat recovery power unit and a 24MW coal-fired power plant. PIOC has cement production capacity of over 2Mta but has operated at a meager 60 per cent utilisation level (FY12-FY16), despite local industry demand witnessing robust growth, says a local research house. This has been a result of lower crushing capacit... |
Pakistan: Pioneer Cement starts its WHR plant in Punjab province19 December 2016, Published under Cement NewsPioneer Cement Ltd has informed Pakistan Stock Exchange (PSX) that its 12MW Waste Heat Recovery power plant (WHRPP) has started operations on from 15 December at Jouharabad, Khushab district, in central Punjab province. It will impact positively on the financial results of the company in the years to come. The company is also in the final stages of selecting a of supplier for installation of a new production line having capacity of 7000tpd clinker at the existing site. The negotiations a... |
Pakistan: Pioneer approves new 7000tpd plant05 July 2016, Published under Cement NewsPioneer Cement (PIOC) informed Pakistan Stock Exchange (PSX) on 4 July that the company’s board of directors has approved a capacity expansion plan for a new 7000tpd cement plant. The present Chenki unit, Khusshab district, produces 2Mta of cement in the heart of Punjab province, 250km away from Lahore and 120km away from the M2 motorway. The board also directed company management to consider the possibility of acquiring other cement manufacturer (though no name or structure has been d... |
Pakistan: Pioneer Cement sets up 12MW WHR plant23 June 2016, Published under Cement NewsPioneer Cement Ltd (PIOC) has signed an agreement with CITIC industries for a 12MW Waste Heat Recovery System (WHR) at its plant, Chenki district, Khushab on the banks of Jhelum River in Punjab province of Pakistan. The cost of the project is PKR1.5bn (US$14.32m) and will come on stream FY19. The plant is expected to meet about 38 per cent of the company’s total electricity requirement. |
Pakistan: Pioneer Cement reports earnings of PKR988m in 1HFY1625 February 2016, Published under Cement NewsPioneer Cement Ltd reported first-half earnings of PKR988m (US$9.45m) versus PKR1.292bn a year earlier, translating into a decline of 24 per cent. In a communication to the Pakistan Stock Exchange, the company said turnover rose from PKR3.9bn to PKR4.37bn over the half-year period. Distribution costs climbed to PKR28.15m from PKR25.96m in 1HFY14-15 but financing costs fell to PKR12.74m from PKR33.68m in the comparative period of the previous year. Revenues rose by 11.4 per cent YoY. Pionee... |