Cement News tagged: Corporate

Power Cement reports 11% fall in sales

07 October 2019, Published under Cement News

Pakistan’s Power Cement Ltd has reported a 11.2 per cent decline in net sales to PKR3.85bn (US$24.5m) in the FY19 ended 30 June, falling from PKR4.34bn in the year-ago period. Gross profit was down 76.7 per cent YoY to PKR157.28m in the period. However, profit after tax increased 82 per cent to PKR582.1m from PKR319.9m.

Pioneer Cement profit shrinks by 52% in FY19

07 October 2019, Published under Cement News

Pioneer Cement Ltd (PIOC) of Pakistan has announced its financial results for the year ended 30 June 2019 today. It earned a net profit of PKR790m (US$5m) as compared to PKR1.644bn earned in the same period last year – falling by 52 per cent YoY. Sales declined from PKR10.12bn to PKR9.73bn during this accounting period. The drop in profit is reportedly due to increase in the cost of sales to ...

Pioneer Cement records 4% fall in revenue

04 October 2019, Published under Cement News

Pakistan’s Pioneer Cement has reported a 3.8 per cent fall in revenue to PKR9.73bn (US$62.07m) in the FY19, compared with PKR10.12bn in the year-ago period. Operating profit declined 30.9 per cent YoY to PKR1.59bn from PKR2.3bn, while profit after tax slipped 51.9 per cent to PKR790m.

ECEBOL sells BOB35m since start-up

04 October 2019, Published under Cement News

Bolivia’s  new ECEBOL unit has sold BOB35m (US$5m) of cement since its recent start-up. The company produces IP-40 cement and since August has launched the product in Santa Cruz, Cochabamba, La Paz and Oruro. The plant currently operates at 60 per cent of its cement capacity, which is expected to be ramped up to 100 per cent next year. “At the moment we have sold cement to a value to BOB35...

Reliance Logistics acquires 92% of Sama Cement's share capital

Reliance Logistics acquires 92% of Sama Cement's share capital

04 October 2019, Published under Cement News

Reliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement, with Reliance Logistics reporting that its indirect and direct stakes in the latter have now reached 17.4 per cent.

Bataan terminal to open before year-end

03 October 2019, Published under Cement News

Phinma Corp subsidiary Philcement Corp has stated that its PHP800m (US$15.4m) cement terminal in  Bataan will be opened before the end of the year. Phinma is using Philcement as its vehicle for its cement industry comeback in a move to contribute significantly to the growing demand for reliable and quality cement and construction materials in the Philippines. Philcement President and Chi...

Pakistan cement players profits tumble in FY19

Pakistan cement players profits tumble in FY19

03 October 2019, Published under Cement News

The major cement firms reported fall in profit during FY19, says a report of Spectrum Securities Ltd. The research house report made on the review of eight top companies: DG Khan Cement, Fauji Cement, Cherat Cement, Maple Leaf Cement, Bestway Cement, Khoat Cement, Attock Cement and Fectc Cement.   The report added that during FY19, net income of the cement sector posted a considerable decline ...

LafargeHolcim’s Bélier cement now available via Jumia

03 October 2019, Published under Cement News

LafargeHolcim’s Bélier cement is now available in Côte d’Ivoire on Jumia, the Nigeria-based E-commerce company. LafargeHolcim opened its online shop on the platform three months ago in addition to more than 200 points of sale through its Binastore franchises. "Individuals can now proceed with their purchase by mobile money, credit card or cash on delivery," says the cement producer.

Hoffmann Green launches IPO

02 October 2019, Published under Cement News

Hoffmann Green Cement Technologies (HGCT) is launching its initial public offering (IPO) 2 October. The company plans to raise around EUR50m on the Euronext Growth market. HGCT’s cement production process reduces CO 2 emissions by 80 per cent due to a modification of the composition of the cement that eliminates the need for clinker, according to the company. The France-based cement produ...

Illinois Cement prepares to expand quarry operations

03 October 2019, Published under Cement News

Illinois Cement (Eagle Materials Inc) will soon start work on a new road to bypass an area a quarter of a mile west of its current quarry location on East Third Road in La Salle, USA, where it intends to start blasting a new quarry. After five public meetings in a month at the end of last year, Illinois Cement was granted its requests by the city of La Salle for annexation, special use permit...

Ohorongo Cement plans to reduce bulk road transport

02 October 2019, Published under Cement News

Namibia-based Ohorongo Cement has extended its partnership with Transnamib to reduce its use of road transport in the moving of bulk materials around the country.  Transnamib has seen the construction of a multi-faceted private siding with two independent sections designed for in- and outbound shipments at Ohorongo Cement’s plant near Otavi. Ohorongo Cement and Transnamib entered into a ...

Lafarge Zambia Plc had to raise prices to stay afloat

02 October 2019, Published under Cement News

Lafarge Zambia's CEO, Jimmy Khan, has spoken out about the crippling overcapacity in Zambia's cement market. Mr Khan said Zambia's cement consumption stands at around 2.2Mt compared to a production of about 5Mt. Mr Khan told President Lungu at State House in Lusaka yesterday that his company recently hiked cement price by 25 per cent to stay in business. Mr Khan said his firm made losses of a...

Kant modernises packing department

01 October 2019, Published under Cement News

Kant Cement plant in the Chui region, Kyrgyz Republic, has modernised the packing department. The company installed a Turbo K8 filling machine from Russia-based Vselug for more accurate and convenient packing of cement. German BERG compressors to clean sleeves also entered service. Kant aims to ship at least 60 per cent of its products in 25kg and 50kg bags. The new equipment will enable the...

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...