Cement News tagged: Corporate

CNBM begins restructuring cement business

05 March 2021, Published under Cement News

China National Building Materials (CNBM) has begun restructuring its cement business and has subsequently sold China United Cement, Sinoma Cement, as well as a 99.9 per cent stake in South Cement and a 95.7 per cent stake in Southwest Cement, to its Xinjiang Tianshan Cement subsidiary for a total consideration of CNY88.25bn (US$13.64bn).  Tianshan Cement will issue 442,343,026 consideration...

Stock depletion temporarily stops Cimenterie Nationale deliveries

05 March 2021, Published under Cement News

Lebanon-based Cimenterie Nationale has announced it will stop deliveries temporarily on 6 March due to the depletion of its stock. According to L’Orient-Le Jour, the cement producer’s decision is the result of the sector’s chaotic management and a lack of a long-term plan. Since the end of October, and after two exceptional exemptions, cement companies no longer have access to their quarries...

Cementarnica Usje sees profit up 20%

05 March 2021, Published under Cement News

North Macedonia's Cementarnica Usje (Titan) has seen a 20 per cent YoY increase in net profit to MKD1.5bn (US$29.3m) for 2020. Operating revenue edged up to MKD5.06bn from MKD5.03bn in 2019. Domestic sales rose three per cent YoY to MKD3.2bn, while sales on foreign markets fell 2.6 per cent to MKD1.6bn. Operating expenses also dropped by 5.9 per cent YoY to MKD3.4bn in 2020, as costs for...

Southern Province Cement reports 32% profit increase

05 March 2021, Published under Cement News

Saudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year. The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement. Its revenue also advanced 27....

Hanson appoint cement business technical development manager

Hanson appoint cement business technical development manager

05 March 2021, Published under Cement News

Hanson UK (HeidelbergCement group) has appointed Michael Wildmore as a technical development manager for their cement business. He joins the company’s technical services team, which offers customers help and support sustainability, concrete mixes and production optimisation. "I have worked within the Hanson UK business for over a year and am delighted to have the opportunity to join the ...

Cahya Mata Sarawak sees gradual increase in cement demand

04 March 2021, Published under Cement News

Malaysia-based Cahya Mata Sarawak Bhd (CMS) can expect an improved financial performance this year, given the anticipated gradual recovery in the demand for building materials in Sarawak following the relaxation of movement restrictions. TA Securities Research said CMS management expects demand for cement to be around 1.6Mt in 2021, backed by ongoing infrastructure projects such as the P...

Caribbean Cement reports 13% increase in revenue

Caribbean Cement reports 13% increase in revenue

04 March 2021, Published under Cement News

Jamaica's Caribbean Cement Co has reported a 13 per cent YoY increase in revenue to JMD20.1bn (US$132.94m) in 2020. The rise in revenue has been attributed to stronger domestic demand. The company also saw earnings before taxation of JMD4.4bn, up JMD2.7bn on that achieved in 2019. "We continue to operate in an environment of significant uncertainty. Our strategy will focus to effectively man...

Holcim Philippines sees 43% fall in net profit

03 March 2021, Published under Cement News

Holcim Philippines has reported a 42.5 per cent decline in net profit to PHP2.07bn (US$42.72m) for 2020, alongside a 22.3 per cent YoY fall in sales to PHP26.02bn from PHP33.49bn in 2019. "Lockdowns from March to May and severe weather conditions in the fourth quarter further affected the business. These hampered delivery of raw materials and services to production sites and dispatch of produ...

Semen Indonesia records 4Q20 results earnings of IDR1.25trn

04 March 2021, Published under Cement News

PT Semen Indonesia (SMGR)  booked 4Q20 earnings of IDR1.25trn (US$87.5m), up 35 per cent YoY, bringing 2020 earnings to IDR2.8trn, a rise of 17 per cent YoY, helped by lower interest costs and tax expenses. SMGR 2020 revenues of IDR35.2trn were down 13 per cent YoY, mainly due to lower volume and higher export sales. SMGR reported total 2020 volumes of 38.8Mt, an eight per cent YoY d...

Two Indonesian producers expect 3-4% cement volume increase in 2021

02 March 2021, Published under Cement News

PT Semen Indonesia (SMGR ) and Indocement Tunggal Prakarsa (INTP) expect domestic cement volume to grow 3-4 per cent YoY in 2021. This could be achieved through a recovery in bulk cement, which declined in 2020 by 22 per cent YoY. Volume is expected to remain soft in the 1Q21 in Indonesia with turnaround expected to occur in the 2Q21, added UBS Global Research (Indonesia).   In 2020 there...

City Cement announces 16% increase in net profit

02 March 2021, Published under Cement News

Saudi Arabia’s City Cement has seen a 16 per cent YoY increase in net profit to SAR220.5m (US$58.8m) in 2020, compared with SAR190.1m a year earlier. The company’s revenue also rose 7.7 per cent YoY to SAR572.3m. The rise in annual profit was mainly due to higher sales value and volumes, alongside lower Zakat and general and administrative expenses, according to a bourse disclosure.

Raysut Cement reports 8% rise in total revenue

04 March 2021, Published under Cement News

Oman's Raysut Cement Group has reported an OMR14.06m (US$36.57m) net loss for the full-year 2020 period, against an OMR2.26m profit in the previous year. The results were attributed to a decline in sales volume in the local market as a result of projects and lower sales realisation per tonne of cement and clinker sold in export markets due to stiff competition from the UAE, Saudi Arabia and I...

Birla Corp appoints new CEO

02 March 2021, Published under Cement News

The board of India’s Birla Corp has approved the appointment of Arvind Pathak as its new CEO and managing director for a period of three years, effective from 31 March 2021. The current CEO, Pracheta Majumdar, is expected to continue as the chief management advisor. Mr Pathak has 36 years of experience in the cement industry, having held management positions for over 14 years in various orga...

Cementos Molins records net profits of EUR93m in 2020

04 March 2021, Published under Cement News

Cementos Molins announced the group's net profit rose by four per cent YoY to EUR93m in 2020. In comparable terms of exchange rates and adjustment for hyperinflation of Argentina, the net profit  increased by 27 per cent in 2020. Cementos Molins revenues have reached EUR775m at the end of 2020, which represents a decrease of three per cent compared to the same period of the previous year...

YTL Corp Bhd's net profit rises to MYR16m

01 March 2021, Published under Cement News

YTL Corp Bhd’s net profit jumped to MYR16.09m (US$3.9m) in the 2QFY21, ended 31 Dec 2020, from MYR1.29m in the preceding quarter, thanks to a strong showing by its multi-utilities business segment in Singapore. Revenue increased 10 per cent to MYR4.59bn, from MYR4.18bn in 1QFY21. Group Executive Chairman Tan, Sri Francis Yeoh Sock Ping, said YTL Corp's earnings before interest, tax, depr...

Eurocement begins auction for 84.2% stake in plant

04 March 2021, Published under Cement News

Russia's Eurocement has begun an open auction to sell an 84.19 per cent stake in its Akhangarancement plant in Tashkent, Uzbekistan. The company is expected to sell 4,141,108 ordinary shares of the plant for a total value of UZS428.99bn (US$40.76m), according to a statement on the Republican Stock Exchange Tashkent.