Cement News tagged: Corporate

Kohat and Fecto Cement report fall in profit

01 October 2019, Published under Cement News

Kohat Cement and Fecto Cement have announced their financial results for the year ended 30 June 2019. Both companies' profits declined, mainly due to  increase in cost of sale and other factors. Kohat Cement Co Ltd (KOHC) declared a net profit of PKR2.4bn (US$15.27m), down by 17.2 per cent YoY, as compared to PKR2.9bn reported in the same period last year. However, sales increased by 16.5 pe...

UltraTech Cement outlines Century 'Scheme of Arrangement'

01 October 2019, Published under Cement News

UltraTech Cement's Board of Directors has declared the Scheme of Arrangement between Century Textiles and Industries Ltd (Century), the company and their respective shareholders and creditors (the Scheme) to be effective from 1 October 2019. For the scheme, the company will issue one equity share of face value INR10 (US$0.14) each for every eight equity shares of face value INR10/each held by...

Raysut Cement signs Duqm plant deals

30 September 2019, Published under Cement News

Omani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our pres...

International Cement cancels US$144m deal to buy Schwenk Namibia

30 September 2019, Published under Cement News

International Cement Group (ICG) has cancelled its proposed  US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The e...

Belarusian Cement Co launches 15kg bags

Belarusian Cement Co launches 15kg bags

30 September 2019, Published under Cement News

Belarusian Cement Co has introduced cement bags of 15kg. The new packaging option extends the product’s line, which previously was only available in 25kg bags.

Lehigh Hanson set to acquire Giant Cement's Keystone plant

27 September 2019, Published under Cement News

HeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisati...

ARM subsidiary is sold to Huaxin Cement

ARM subsidiary is sold to Huaxin Cement

27 September 2019, Published under Cement News

Maweni Limestone Ltd, the Tanzanian subsidiary of ARM, has been sold to Huaxin Cement of China for US$116m. The acquisition is subject to regulatory approvals. "This transaction will permit Huaxin immediate entry into one of the leading markets in east Africa and is integral to Huaxin's broader strategy to expand its footprint across emerging markets," joint ARM administrators George Weru a...

Arabian Cement's Rabigh plant to begin operations in 2Q20

27 September 2019, Published under Cement News

Construction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the dela...

Hamma Bouziane achieves 95% production target

27 September 2019, Published under Cement News

GICA-owned Société des Ciments de Hamma Bouziane (SCHB) in Constantine, Algeria, has achieved “up to 95 per cent of its production target” for 2019. "The SCHB has not registered a decline in its activities and its production objectives are met 95 per cent and any delay recorded due to maintenance periods is caught up," said the SCHB President and CEO, Mustapha Kebbous.

Thatta Cement announces new chairman

27 September 2019, Published under Cement News

Pakistan’s Thatta Cement Co Ltd has announced that a new chairman has been appointed. Naheed Memon will succeed Khawaja Muhammad Salman Younis in the role, with effect from 23 September 2019. Elsewhere, the company recently announced a 40 per cent profit decline in the FY19 .

HeidelbergCement Trading appoints new COO

27 September 2019, Published under Cement News

Gulgun Dokuz, currently general director of trading, Asia-Pacific region, has been appointed as chief operations officer (COO) of HeidelbergCement Trading (HCT). Gulgun Dokuz is appointed as the new COO of HeidelbergCement Trading In her new role, effective as of 1 October 2019, Gulgun Dokuz will be responsible for the operational leadership for all trading and shipping activ...

Crown Cement appoints new CEO

27 September 2019, Published under Cement News

Crown Cement Group of Bangladesh has appointed Mukter Hossain Talukder as its new chief executive officer (CEO). Mr Talukder was previously the group's chief operating officer. Talukder also served Aman Group, Rangs Group and Social Marketing Company in key positions. He obtained a master's degree on accounting and information science from the University of Dhaka. He is also a fellow chartere...

Votorantim Cimentos reports positive 2Q net results

26 September 2019, Published under Cement News

Votorantim Cimentos saw its consolidated net revenues from goods sold and services rendered increase 3.7 per cent to BRL5.822bn (US$ 1.403bn) in the first half of 2019 when compared with the 1H18 when net sales reached BRL5.612bn, according to a company statement. However, as cost of goods sold and services rendered was up 5.8 per cent from BRL4.724bn in the 1H18 to BRL4.997bn in January-Ju...

CRH appoints chairman designate and a non-executive director

26 September 2019, Published under Cement News

CRH plc has appointed Richard Boucher as  chairman designate on 25 September 2019. The Board has also appointed Johan Karlström as a non-executive director, with effect from 25 September 2019. Mr Boucher will succeed the present chairman,  Nicky Hartery, on 1 January 2020. Mr Hartery, who has been chairman since May 2012 and a board member since 2004, will retire as chairman and from the Boar...

Wonder Cement appoints Sanjay Joshi as executive director

26 September 2019, Published under Cement News

India-based Wonder Cement, part of the RK Group, has appointed Sanjay Joshi as executive director. Mr Joshi is a chemical technologist, and an alumnus from IIM Calcutta and second-rank holder from UDCT, University of Mumbai. He has led multiple businesses across industries, including the building materials and paints sectors before joining the cement industry. "A firm believer in leading by...

LafargeHolcim Maroc announces net profit up 9% in 1H19

27 September 2019, Published under Cement News

LafargeHolcim Maroc has reported sales of MAD3.89bn (US$401.4m) in the 1H19, up 0.2 per cent YoY. The company’s operating profit increased 10.6 per cent YoY to MAD1.65bn while net consolidated profit appreciated 8.6 per cent to MAD965m. Return on capital investment reached 11.6 per cent. "Cement volumes are up 2.1 per cent in a market due to low rainfall at the beginning of the year, while ...