Cement News tagged: Corporate

Cemex Czech Republic reports net loss in 2018

20 August 2019, Published under Cement News

Cemex Czech Republic reported a net loss of CZK307.1m (US$13.18m) in 2018, declining from a profit of CZK194.9m in the previous year. However, sales increased 70 per cent to CZK3.81bn, with more than 98 per cent generated on the domestic market. The results were positively impacted by a merger with Cemex Cement and Cemex Development, according to an annual report. "The company recorded a YoY ...

Tanga Cement sees 25% increase in revenue for 2018

20 August 2019, Published under Cement News

Tanzania’s Tanga Cement reported a 25 per cent YoY increase in revenue to TZS215bn (US$93.56m) for 2018, up from TZS172bn in the previous year. Gross profit rose 91 per cent to TZS56.2bn from TZS29.4bn. EBITDA surged 304 per cent to TZS34.4bn from TZS8.5bn, on the back of improved sales volumes, margins and operational efficiency, according to its annual report. Operating profit recovered fr...

Nepal's cement producers recommend barring FDIs

19 August 2019, Published under Cement News

Nepal’s cement producers have recommended barring foreign direct investments (FDI) in the sector during a discussion with Matrika Prasad Yadav, the Minister for Industry, Commerce and Supplies, according to The Rising Nepal. "We will have become self-reliant in cement and by the end of 2020, we will have product surplus. Bringing in more FDI in large cement industry will be suicidal for the ...

Wagners' annual net profit drops by 49%

19 August 2019, Published under Cement News

Wagners in Australia has seen its annual net profit drop by 48.5 per cent to US$12.8m. The construction group blames its dispute with Boral for the poor business results. The building materials group has reported a 32 per cent fall in earnings from its core construction, materials and services business to AUD30.1m (US$20.38m) after its decision to stop selling cement to Boral. About 40 per ce...

Gebr Pfeiffer opens new CIS region subsidiary

Gebr Pfeiffer opens new CIS region subsidiary

19 August 2019, Published under Cement News

Gebr Pfeiffer has opened a subsidiary OOO "Gebr Pfeiffer GUS" based in Moscow, Russia. The subsidiary will serve orders in Russia, Ukraine, Kazakhstan, Belarus and Uzbekistan. The new subsidiary has been established to be closer to the customers and thereby further intensify Gebr Pfeiffer's close contacts and long-term relationships. The team will be headed by General Director Alex Nickel and...

Power Cement suspends its older production capacity

19 August 2019, Published under Cement News

Power Cement Ltd of Pakistan has suspended a third of its cement output due to lack of demand and falling prices. Pakistan's second largest cement producer has close 3150tpd of its production at its Nooriabad Dadu plant, which it says is no longer viable with the high production costs. It is left with 7700tpd of newer operational capacity at Nooriabad Dadu, while FLSmidth is currently compl...

Lugait Cement plant upgrades to meet Mindanao's rising demand

Lugait Cement plant upgrades to meet Mindanao's rising demand

16 August 2019, Published under Cement News

Holcim Philippines, Inc (LafargeHolcim group) is preparing to start work on the modernisation of its Lugait Cement plant in Misamis Oriental as it expects continued growth in Mindanao demand. Mindanao's cement demand comes not just from the two primary cities of Davao and Cagayan de Oro, but also from Zamboanga, Dipolog, Butuan, and other secondary cities. "For so long, Visayas demand has al...

Shree Cement records 37% net profit increase

16 August 2019, Published under Cement News

India’s Shree Cement has reported a six per cent YoY increase in consolidated revenue for the quarter ending 30 June, rising to INR33.54bn (US$470.4m) from INR31.63bn. Net profit surged 36.8 per cent to INR3.82bn from INR2.79bn. The cement segment saw an 8.5 per cent rise in revenue to INR31.15bn, compared with INR28.69bn in the year-ago period. While cement sales volumes contracted 13 per ce...

Grasim Industries's net profits rise by 28% in 1QFY19

15 August 2019, Published under Cement News

Grasim Industries (Aditya Birla Group) recorded a consolidated net profit rise of INR17,860m (US$250.4m) for the June quarter, up by 27.86 per cent, with strong performances from its subsidiaries UltraTech Cement and Aditya Birla Capital. The company’s total income increased by 12.72 per cent to INR19,091bn during April-June 2019, up from INR16,937bn. Revenues form the cement business during...

Suez Cement records EGP293m net loss in 1H19

15 August 2019, Published under Cement News

Egypt’s Suez Cement recorded a net loss of EGP293.4m (US$17.69m) for the first half of 2019, down from an EGP238.2m profit in the year-ago period. Revenues declined 16.7 per cent YoY to EGP3.3bn from EGP3.96bn. Standalone losses widened to EGP590.5m, compared to EGP165.6m in the 1H18.

Tourah Cement sees net loss widen 205%

15 August 2019, Published under Cement News

Egypt’s Tourah Cement has seen its net losses widen 204.7 per cent YoY for the first six months of 2019, surging to EGP461.25m (US$27.78m) from EGP2.24m in the 1H18. On a quarterly basis, the company’s net loss advanced to EGP50.9m in the 1Q19 from EGP13.8m in the corresponding period of 2018.

Birla Corp announces INR50bn expansion plans

15 August 2019, Published under Cement News

India’s Birla Corp has announced plans to increase its total cement capacity to 25Mta by 2025, with an investment of INR50bn (US$701.5m). The new capacity will be shared between the company’s existing facilities and those acquired from Reliance Cement. The first phase of expansion will see an investment of INR24.5bn in a new integrated plant at Mukutban, Nagpur, to boost overall capacity to...

Taiwan Cement Corp records 6% decline in revenue

14 August 2019, Published under Cement News

Taiwan Cement Corp has announced a 5.9 per cent YoY fall in revenue for the second quarter of 2019, falling to TWD31.36bn (US$1bn) from TWD33.32bn. Pretax profit saw a decline of five per cent to TWD9.33bn, while net profit rose 2.3 per cent to TWD7.23bn from TWD7.06bn.

OYAK targets British Steel bid

14 August 2019, Published under Cement News

Turkish cement producer OYAK has become the front runner in the bidding to buy British Steel. The Turkish pension fund has been talking with the UK government to takeover British Steel via Ataer Holding, a wholly owned investment vehicle of OYAK, reports the Financial Times. OYAK is already a diversified company with businesses in cement, agriculture, mining and energy and a joint venture wit...

Argos sees net income grow to US$22m in 1H19

16 August 2019, Published under Cement News

Argos has announced that the company's net income grew by 33.5 per cent to US$22m in 1H19. Argos revenues also expanded by 10.6 per cent to US$1.419m, while EBITDA registered an increase of four per cent to total US$262.4m. Cement shipments were just under 8Mt, 1.2 per cent higher than in 1H18 and concrete dispatched were 5Mm 3 , down 2.5 per cent in 1H18 due to heavy rainfall in some par...

West China Cement reports 23% increase in profit

13 August 2019, Published under Cement News

West China Cement Ltd has announced a 22.7 per cent increase in profit to CNY793.5m (US$112.3m) for the 1H19, compared with CNY646.7m in the year-ago period. Revenue climbed 27.2 per cent YoY to CNY3.31bn from CNY2.6bn, while EBITDA advanced 5.9 per cent to CNY1.38bn. Total cement and clinker sales volumes rose 5.1 per cent to 8.61Mt from 8.19Mt, with cement sales consisting of 8.45Mt of the ...