Cement News tagged: Corporate
Fujairah Cement approves Sohar Cement venture
The Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital.
Kenya: dispute over stalled cement plant
Local politicians in Kenya’s West Pokot county have clashed over delays which have seen the construction of a proposed cement plant make little progress for years, the Daily Nation reports. Despite being announced a decade ago, building has yet to begin and local politicians appear split over whether to invite in new investors. The originators of the project, India’s Sanghi Group, retain th...
India Cements: 1Q16 EBITDA edges up to INR2.05bn
India Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing h...
China: Taiwan Cement expects 2H16 pick up in demand
Cement sales in China will pick up in the second half of the year, on the back of a recovering demand from infrastructure projects and residential building in the country, according to Taiwan Cement Corp. “We saw strong infrastructure spending in China supported cement demand in the first half, which is expected to continue growing for the rest of the year,” Taiwan Cement Senior Vice Presid...
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal
HeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the ...
Dalmia quarterly results
Dalmia Bharat announced its unaudited consolidated financial results for the quarter ended 30 June 2016. Dalmia performed well in the period, achieved through a focus on branding, customer centricity and cost optimisation. The company reported that it achieved an EBITDA margin of 29 per cent and its sales volume increased 22 per cent YoY. It also worked towards expanding its sustainable foo...
Sagar Cement to invest US$22m in new capacity
India-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down l...
US: HeidelbergCement moves closer to acquiring Essroc
HeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. Heid...
Cementos Argos 2Q16 US results remain strong
For the second quarter Cementos Argos' cement volumes decreased by 1.9 per cent, totalling 3.5Mt, as a result of a challenging market environment in Colombia. These results were compensated by the US regional division, where Cementos Argos grew 16.3 per cent. In the ready-mix segment the company sold 3Mm 3 , up 1.1 per cent from the previous year. Cementos Argos registered double-digit grow...
Philippines: Republic Cement confident despite environmental crackdown
Republic Cement has vowed to continue with its expansion plans and has said that it is "ready" to face an environmental audit from the Filipino government, ABS-CBN News reports. The Department of Environment and Natural Resources has recently handed out suspensions to 10 mining companies over safety violations and has challenged the country’s largest coal mining firm, Semirara, to make the ...
India: JK Lakshmi to expand Rajasthan mine
JK Lakshmi Cement has received environmental clearance for expansion of its limestone mine output in Rajasthan, entailing an investment of INR1.20bn (US$17.94m). The mined limestone will be supplied to a cement plant in Sirohi, says India Infoline news service. "The Environment Ministry has examined the proposal of JK Lakshmi Cement and granted the environment clearance for expansion of its ...
Egypt: Siemens to launch Sicement Electrification system
Siemens Egypt will on Thursday launch its new Sicement Electrification System at the “Bringing Power to Cement Industry” forum in Cairo, Daily News Egypt reports. Egyptian cement manufacturers have been hit by rising costs of power as the government has reduced subsidies on natural gas. At the same time, cement consumption has been rising and production hit 70Mt in 2015, the government calc...
Denmark: FLSmidth 2H16 revenues fall 19%
FLSmidth's revenue decreased 19 per cent to DKK4135m (US$620.7m) in 2Q16 (2Q15: DKK5093m or US$764.5m). The revenue improved sequentially from 1Q16 but was nevertheless lower than expected in 2Q16. The gross profit in 2Q16 decreased to DKK1078m from DKK1327m in 2Q15, corresponding to a gross margin of 26.1 per cent (2Q15: 26.1 per cent). The gross margin is still holding up despite prici...
United States: Sunrise reports progress on Pozz Ash project
Sunrise Resources has said that it has made “positive progress” in the development of its natural pozzolan Pozz Ash cement, Proactive Investors reports. Based on preliminary results from a concrete producer testing the product, Sunrise has concluded that Pozz Ash has good commercial potential providing the cement’s clay content can be reduced.
Germany: KHD suffers 1H16 revenue fall by 25.5%
KHD's 1H16 revenue amounted to EUR66.6m, considerably lower than the figure for the previous year (EUR89.4m). Reasons for the decrease of 25.5 per cent are the relatively low order backlog at the beginning of the year, delays in project execution, reductions in order value and order intake that did not materialise in the 1H16. The gross profit for the first half-year was EUR-2.1m (previous y...
Magnesita reports US$45.4m net income in 1H16
Brazil-based Magnesita Refratários SA registered net income of US$45.4m between January and June of 2016, after a US$5m loss in the first half of 2015. The performance was driven by better operational results and foreign exchange variation. The company's adjusted EBITDA reached US$80.5m, with a 16.5 per cent margin, compared to a 15.4 per cent margin in the first semester of 2015. Consolidated...