Cement News tagged: Corporate
Belarusian Cement to merge with Minsk Silicate Materials
Belarusian Cement Plant, located in the Kostiukovichi Mogilev region, is set to incorporate OAO Minsk Silicate Materials Plant. The merger is due to be finalised by December 2016. The Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares valued at BYN10 (US$4.97) each. These will be transferred to the state, expanding the state-owned stake in th...
CRH more than doubles EBITDA to EUR1.12bn in 1H16
CRH plc announces that its 1H16 sales increased by 35 per cent to EUR12.7bn and EBITDA more than doubled on the same period a year ago to EUR1.12bn. Building material sales rose on a proforma basis by eight per cent on 2015, including an increase of 13 per cent in the Americas, three per cent up in Europe and four per cent ahead in Asia. After depreciation and amortisation charges of EUR532m...
Aalborg Portland close to sealing Belgian acquisition
Danish cement company Aalborg Portland has acquired Belgian cement company Compagnie des Ciments Belges (CCB) for DKK2.30bn (US$349.81m). The acquisition increases Aalborg Portland's operations by 20 per cent and boosts its turnover from DKK6.5bn posted in 2015 to over DKK8bn. Henning Brook, CFO at Aalborg Portland, states that the acquisition will only marginally affect the financial r...
Bolivia: Soboce receives new kiln
Bolivian cement company Sociedad Boliviana de Cemento (Soboce) has received a vertical kiln, the first to will installed in Bolivia, as part of Illimani LP12 project. An FLSmidth OK 36-4 mill will also be fitted into the firm's Viacha factory. The plant currently produces over 0.9Mta of cement but will see a capacity raise by 136 per cent to 2Mta. The project is 45 per cent complete and r...
Pakistan: Cherat Cement sees FY1516 profits rise 9%
Cherat Cement Company has reported a rise in net profits of 9.1 per cent for the year ending June 30, 2016, Pakistan's The News reports. Profits reached PKR1.4bn (US$13.3m) on sales revenues of PKR7.1bn – the latter up by 7.8 per cent. Faizan Ahmed of JS Global said that the rise was drive by stronger sales and falling energy prices, stating: “Most of the increase in dispatches was led by l...
Cemex to commission new 1Mta Colombian plant in December
Cemex expects to bring its new cement plant in Maceo, Antioquia, Colombia online at the end of this year, according to Carlos Jacks, president of the Mexico-based cement producer. The new works will have a capacity of 1Mta and represents an investment of US$360m. The project also includes the construction of a 40km-long concrete access road which connects the works to the motorway system.
Egypt: South Valley profits up 33%
South Valley Cement announced a net profit increase of 33 per cent for the 1Q16. A net profit of EGP42.85m (US$4.82m) was registered in the quarter compared to EGP32.35m for the same quarter in the previous year. Revenues for the company reached EGP254.82m (US$28.7m) in 1Q16, a YoY increase of 14.3 per cent compared to EGP223m for 1Q15.
Argos Board approves sale 20% stake in Argos Panamá
The Board of Cementos Argos has approved the sale of 20 per cent of shares of Argos Panama for the sum of US$126m. Buyer is the Grupo Provivienda, controlled by Federico Salazar, a Colombian-Panamanian investor. The company is part of the Grupo Cusecar, which has 22 years of experience in the construction sector in Panama and Central America. The sale is part of Cementos Argos’ plan to ...
China: Anhui Conch profits down 29% for 1H2016
In its trading statement for the first six months of 2016, Anhui Conch has reported that its net revenues fell one per cent YoY to CNY24bn (US$3.6bn), while profits slipped further, falling by 28.8 per cent to CNY3.4bn (US$506m). The company noted that while Chinese demand for cement continued to grow in the first half of 2016, intense competition and overcapacity had had a negative effect ...
Peru: Cementos Pacasmayo to split operations
Cementos Pacasmayo SAA and subsidiaries announced that its Board of Directors have approved the separation of its phosphate operations Fosfatos del Pacifico (FOSPAC) from its cement operations. Ownership of FOSPAC will be transferred to separate entity FOSSAL, which will hold 70 per cent ownership whilst 30 per cent remains with MCA Phosphates PTE, a division of Mitsubishi Corp. Chairman of...
Birla completes acquisition of Reliance Cement
Birla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya ...
Cementos Avellaneda to invest in Canuelas logistics centre
Argentina’s Cementos Avellaneda will invest in a logistics centre in Canuelas. The company, which is a joint venture between Votorantim Cimentos and Cementos Molins, acquired a 9000m 2 plot in an industrial complex alongside Route 6. Initial plans are to build a 1500m 2 warehouse, an office and a truck parking area. During a second stage, the company has the option to build a concrete pla...
Peru: Votorantim to buy assets of Cementos Orotongo
Votorantim Cimentos has made an agreement with Concesur (Consorcio Cementero del Sur) to purchase the cement assets of Cementos Orotongo acquired by Votorantim in 2012 from Cimpor. The deal is worth US$4m and includes a project to set up a US$125m cement plant at La Joya with a capacity for 650,000tpa of cement and 1500tpd of clinker. This plant project was originally planned in 2011. Voto...
Sri Lanka: Tokyo Cement increases profits by 38%
Tokyo Cement Plc saw its April-June quarter net profit increase 38 per cent YoY to LKR643.8m (US$4.42m) amid strong top-line gains and better cost management. Group turnover for the quarter rose nine per cent YoY to LKR7.5bn, while cost of sales rose at six per cent, allowing the group to post a gross profit of LKR1.8bn, up 20 per cent YoY. The group was able to keep its operational co...
Pakistan: Gharibwal Cement to increase its capacity
Gharibwal Cement (GWLC) has announced plans to expand its clinker capacity by 8000tpd, translating into 2.4Mta. Along with the brown field expansion, the company will also install a waste heat recovery system and a new cement mill for this purpose. Work on this project will start during the current fiscal year. GWLC has also announced a contract to install vertical grinding mill with a cap...
Uganda: residents decry lack of consultation over mining licence award
Residents of Moroto district have accused Uganda’s Ministry of Energy and Mineral Development of acting illegally in awarding a mining licence to Tororo Cement without first consulting local communities, the Daily Monitor reports. Local people have protested against Tororo’s limestone mining operations in Kosiroi by blocking trucks from entering or leaving the site. They accuse the company ...