Cement News tagged: Corporate
USA: Martin Marietta elects new Board members
Martin Marietta Materials Inc has appointed a new independent director to its Board of Directors. John J (Jack) Koraleski, former chairman of the Board of Directors and CEO of Union Pacific Corporation, was elected to Martin Marietta's Board of Directors on 15 August 2016. Mr Koraleski, 65, will serve on Martin Marietta's Audit Committee, Management Development and Compensation Committee, an...
India: Shree Cement profits hit US$76m in 1QFY16-17
In its trading results for the first quarter of FY2016-17, Shree Cement has seen its profits improve to INR5.1bn (US$76m). This represents an increase of 388 per cent on the same period last year. Cement sector revenues rose by 51 per cent to INR22.9bn (US$342m). Declining power and fuel costs helped Shree’s bottom line. These fell by 21 per cent to INR3.3bn (US$49m). The company has als...
Krasnoselskstroymaterialy chases profits in Poland and Russia
Belarus cement producer Krasnoselskstroymaterialy is optimistic that its finances will return to the black by the end of 2016, reports BelTA news agency. The enterprise will seek to boost its exports to Russia and Poland while raising its output of cement. "We have refocussed our enterprise and penetrated new markets in Poland and Kaliningrad Oblast. When we only started to penetrate them...
Nepal: Arghakhanchi Cement to expand capacity to 1Mta
Arghakhanchi Cement is to spend NPR4.13bn (US$38.6m) expanding the output of its cement plant from 1200tpd to 3000tpd, giving it a nominal capacity of around 1Mta. The Kathmandu Post reports that the company has also opened a letter of credit to buy a factory based on VRM technology from FLSmidth. Managing director, Rajesh Agrawal, said: “If we don’t increase our capacity and achieve econom...
UAE: Fujairah Cement sees 48% drop in revenues
Fujairah Cement Industries saw its revenues fall by 48 per cent to AED164.2m in 1H16 from AED315m in 1H15. The UAE-based company saw its profit for the period ended 30 June 2016 more than halve from AED33.3m to AED16.5m.
Tanzania: Tanga Cement 1H16 profits rise 55%
Tanga Cement has realised 55 per cent increase in net operating profit for the past six months despite strong competition from other cement companies as well as cheap cement and clinker imports. Board Chairman, Lawrence Masha, said the company has more than doubled clinker production from 0.45Mta to 1.23Mta. The output increase follows the commissioning of the second kiln at the plant, whic...
Canada: Quebec state investment fund to take controlling stake in McInnis
The Caisse de Dépôt et Placement du Québec has agreed to plans to inject an additional CAD250m (US$193m) into McInnis’s Port-Daniel integrated plant project under a deal which sees the state investment fund take a controlling interest in Beaudier Ciment, McInnis’s majority shareholder. Reuters quotes a spokesperson for the Caisse as stating that the project faced cost overruns of up to CAD5...
United States: Kosmos Cement plant suffers fatality
A person has died after a workplace accident at the Cemex-owned Kosmos Cement plant in Louisville, Kentucky, USA Associated Press reports that local police attributed the accident to a mechanical failure in a pulley system. An investigation is currently underway and the victim has yet to be identified. In April, Kosmos Cement agreed to pay a US$400,000 after admitting negligence that led...
India: Birla Corporation sees Q1 cement profits rise 441%
Birla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m). Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 1...
Jordan: Northern Cement 2Q16 profits drop
Northern Cement Company have reported a 7.6 per cent decline in profits to JOD3.79m (US$5.4m) for the second quarter of 2016, compared to profits on JOD4.1m seen in the same period last year. Profits for the first half of the year also fell, dropping 8.71 per cent YoY. Profits for the first half of 2016 were JOD6.8m compared to JOD7.4m in the first half of 2015.
India: Mangalam Cement conducts new milling trial
Mangalam Cement has undertaken a trial run of its new 0.75Mta grinding unit, located at Aligarh in Uttar Pradesh. The new unit brings Mangalam’s capacity up to 4.0Mta.
McInnis Cement breaks ground on US cement terminal
McInnis Cement officially broke ground at the new cement company's first US terminal in the Port of Providence. The overall cost of the project is expected to reach US$22m when completed by year-end. Construction will begin shortly on the existing ProvPort warehouse, which will be transformed into a world-class receiving and storing facility. McInnis Cement will also build a modern rail and tr...
India: Prism Cement returns to profit for 1QFY16-17
Prism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9...
Indonesia: Indocement cuts production by 1Mt
PT Indocement Tunggal TBK will cease operations at two production lines at its Citeureup plant due to the national cement excess, resulting in a 1Mta drop in output levels. The fall in cement sales in the country resulted in Indocement seeing its domestic sales volume drop 3.7 per cent to 7.9Mt QoQ in 2Q16. However, exports for the company increased by 190,000t when compared to the same per...
India: UltraTech’s plan for Bokaro plant moves forward
UltraTech Cement’s project to build a new 1.5Mta plant at Bokaro in Jharkhand has moved a step closer to realisation after the district authorities gave it their support, the Times of India reports. Rai Mahimapat Ray, managing director of the Bokaro Industrial Area Development Authority, said: "We discussed the additional land requirements for a railway siding, levelling of the allotted 50-...
Nigeria: Dangote Cement to switch to using coal
Dangote Cement has announced plans to begin its own coal mining operations as it switches away from gas as a means for powering its plants. The company will begin producing coal at the Ankpa mines in Kogi State from 4Q16. Previously, Dangote had used natural gas as a fuel for its plants, but interruptions to supply and the revaluation of the naira have caused the company to seek alternative...