Cement News tagged: Corporate
Eagle Materials advances cement volumes by 13%
In the first quarter of its financial year to 31 March, Eagle Materials' turnover, including its share of the Texas Lehigh cement joint venture, increased by 3.3 per cent to US$322.4m. The trading profit advanced by 17.9 per cent to US$71.2m and after an interest charge 13 per cent lower at US$3.9m, the pretax profit was up by 20.4 per cent to US$67.3m and the net attributable profit rose b...
Nigeria: Ashaka Cement signs NGN11bn coal power agreement
Ashaka Cement plc has signed a NGN11bn (US$35m) contract with China-based RUNH Power Corp Ltd for the construction of a 16MW lignite-fired coal power plant at its cement plant in Gombe State, Nigeria. The power plant will be operated by firing coal from Ashaka Cement-owned local coal mine reserves located in Maigana, 140km distance from the cement works. Scheduled for completion in 2018...
Lafarge Africa in 2Q16
Lafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$9...
India: Lakshmi Cement gets green light to expand Sirohi limestone mine
Lakshmi Cement has been given environmental clearance to expand its opencast limestone mine in the Sirohi district of Rajasthan. Under the proposals, the mine’s capacity will be expanded from 8 to 13Mta. The firm had originally applied for permission for the project in March 2013, but environmental clearance was not given until July 2016. Work on the 390.625ha site is expected to commence i...
Cementir to acquire HeidelbergCement’s Belgian operations
Cementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated...
Siam City Cement to acquire Holcim Lanka
Siam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC...
Bangladesh: Premier Cement expansion plan
Premier Cement Mills Ltd has plans to more than double its production capacity, with an approximate investment of BDT4bn (US$51m). Current production capacity stands at 6000tpd and will be increased to 16,000tpd. Of the BDT4bn investment, BDT2.09bn (US$26.7m) will be used for equipment and machinery import, and the remaining BDT1.91bn (US$24.4m) for construction and other local purposes. ...
HeidelbergCement India sees revenue rise by 7.2%
In its earnings statement for 1QFY16-17, HeidelbergCement India reported that its revenues rose by 7.2 per cent YoY, while net profits rose from INR34.4m (US$0.5m) to INR262.6m (US$3.9m). According to reports in Mint, the company has benefitted from lower fuel and electricity prices as well as rising demand. While revenues exceeded market expectations, operating profits were below foreca...
Saudi Arabia: Najran Cement reports lower 2Q16 profits
Najran Cement in Saudi Arabia has announced lower earnings during the second quarter of 2016, according to a bourse filing. Earnings fell 56.8 per cent YoY to SAR33.6m (US$8.96m) from SAR77.83m due to lower sales volumes. The gains made by an increase in average sales prices and a fall in selling and distribution expenses were offset by a slowdown of building and higher energy prices. In...
Titan Cement brings 0.2Mta plant online in Uzbekistan
Titan Cement has commenced production at a new cement works in Karauzyak, Karakalpakstan in Uzbekistan. The 0.2Mta plant represents an investment of UZS10.6bn and is expected to employ 200.
EBRD postpones its decision on 20% stake in Holcim Azerbaijan
The European Bank for Reconstruction & Development's (EBRD) Board of Directors has postponed the pending decision on raising the bank’s stake in the equity capital of Holcim (Azerbaijan) OJSC up to 20 per cent but retains plans to double its participation in the cement producer. "Now the consideration of this matter is scheduled for 7 September 2016," said the EBRD. Previously, the matter ...
UK: Breedon to complete Hope acquisition in August, 1H16 results
Following the conclusion of the Competition & Markets Authority's (CMA) review, Breedon Aggregates expect to complete the acquisition of Hope Construction Materials Limited (Hope) on 1 August 2016 (subject to final clearance from the CMA). On completion, the enlarged group will be renamed Breedon Group plc, subject to approval by its shareholders at an Extraordinary General Meeting on 21 Ju...
Egypt: Suez Cement 1H16 sales up 6%
Suez Cement Group of Companies (SCGC) 1H16 results showed that growth slowed in 2Q16, due to lower demand during the holy month of Ramadan and June. However, overall, the domestic cement industry grew 7.6 per cent in 1H16 versus 1H15. Cement prices continued to improve, following 1Q16 trends to jump four per cent during April, May and June. That being said, prices were still three per cent ...
Peru: Cementos Pacasmayo 2Q16 revenues up 9%
Cementos Pacasmayo SAA has announced its consolidated results for the 2Q16, stating that volumes of cement, concrete and blocks rose 4.8 per cent during the period and revenues increased 9.1 per cent to PEN301.7m (US$90.6m). Consolidated EBITDA of PEN93.1m (US$27.9m) was up 15.7 per cent, excluding PEN8.8m non-operating income booked in 2Q15. However, when including this income, EBITDA was ...
Ghana: Dangote Cement takes delivery of 1000 trucks
Dangote Cement Ghana has received delivery of a fleet of 1000 trucks as part of its plan to expand its distribution network in the country, Star FM reports. The firm states that the purchase is the largest of its kind by any Ghanaian company and will create up to 5000 direct and indirect jobs. Managing Director of Dangote Cement Ghana, Tor Nygard, said of the vehicles: “These are compone...
LafargeHolcim receives go-ahead for Indian streamlining
India’s Cabinet Committee on Economic Affairs has given its blessing to LafargeHolcim’s proposals to simplify the structure of its remaining operations in the country. The company is now awaiting the formal sign-off of the Foreign Investment Promotion Board, but this is expected shortly. Under the proposals, LafargeHolcim will increase its stake in Ambuja to 61.14 per cent, while Ambuja its...