Cement News tagged: Corporate

Suez Cement announces new chairman

30 April 2020, Published under Cement News

Egypt’s Suez Cement Group has appointed Ambassador Yasser El-Naggar as the new chairman of the group, effective from 23 April. Mr El-Naggar has succeeded Hayrullah Hakan Gurdal in the role. Mr El-Naggar has previously served as principal deputy minister of planning and was a member of the senior management overseeing the implementation of Egypt's 2030 Vision. Elsewhere, the company has also ...

Namangan Cement launches construction of second line

30 April 2020, Published under Cement News

Uzbekistan's Namangan Cement LLC has launched the construction of a second line at its facility in Namangan, Chust district. The company was founded in 2019 and produces 200,000tpa of cement from the first stage of production. After the second stage is commissioned, the facility’s capacity will rise to 1.1Mta. The new line is expected to be launched at the end of 2021, according to Uzbekist...

Coal and crude prices beneficial for cement industry, says DG Khan Cement

29 April 2020, Published under Cement News

Two of DG Khan Cement's senior management, Raza Mansha, CEO, and Farid Noor Ali Fazal, director, commented that falling coal and crude prices in international markets would reduce the cost of cement production in Pakistan, according to the company's 9MFY20 report. They also anticipate a rise in cement demand on the back of government big hydroelectric dam projects. According to the report, co...

Ambuja Cements has seen a 7% increase in net profit

29 April 2020, Published under Cement News

India’s Ambuja Cements has seen a 6.8 per cent increase in its consolidated net profit to INR7.43bn (US$97.5m) for the first quarter of 2020, compared to INR6.95bn in the year-ago period. However, revenue from operations declined 8.5 per cent YoY to INR62.5bn in the 1Q20, following a decline in volumes due to the country’s lockdown status. On a standalone basis, Ambuja Cements saw a 6.5 ...

Huaxin Cement reports 65% fall in 1Q20 profit

Huaxin Cement reports 65% fall in 1Q20 profit

29 April 2020, Published under Cement News

China’s Huaxin Cement has reported a 65 per cent YoY decline in net profit to CNY354.1m (US$50.06m) for the first quarter of 2020, according to Reuters. However, the company had posted a 22.4 per cent YoY rise in net profit to CNY6.3bn for the full-year 2019 period.

Vortex makes face masks in fight against COVID-19

29 April 2020, Published under Cement News

In the midst of the COVID-19 pandemic, employees at Vortex designed and produced cleanable and reusable face shields for Salina Regional Health Center, Kansas, USA. Initially, the visor frames were 3D printed using a design that has been shared across the globe to create shields during the pandemic. Vortex engineers and programmers enhanced this design for its router and water jet programmes,...

FLSmidth's interim 1Q20 report sees COVID-19 impact business results

FLSmidth's interim 1Q20 report sees COVID-19 impact business results

30 April 2020, Published under Cement News

FLSmidth reports that the COVID-19 pandemic is intensifying the cement industry's apprehensiveness to start large capital investments, but producers in both mining and cement are increasingly looking at digitalised solutions, driven by the restrictions of on-site services. Cement service order intake was stable in 1Q20 compared to 1Q19, but total cement order intake declined 50 per cent, due t...

Hoffmann Green Cement Technologies sees turnover up in 2019

28 April 2020, Published under Cement News

Hoffmann Green Cement Technologies (HGCT) saw a hike in its turnover to EUR0.62m in 2019 from EUR0.289m in 2018. The company’s EBITDA declined to EUR-1.846m while EBIT reached EUR-3.079m due to significantly-higher amortisation charges. Its operational result came to EUR-3.1m, mainly due a 20 per cent non-conversion premium of convertible bonds into shares, which was noted at the time of the c...

India Cements partially resumes operations

28 April 2020, Published under Cement News

India Cements has partially resumed the operation of some its plants in a phased manner. "Considering the uncertainties involved, the impact arising on account of the COVID-19 pandemic on the performance of the company is not ascertainable at this stage," the company said in a disclosure. India Cements’ Vice Chairman, N Srinivasan, had attended a meeting with Tamil Nadu’s Chief Minister,...

Ambuja Cement and ACC fund NGOs to tackle COVID-19

28 April 2020, Published under Cement News

Ambuja Cements Ltd and ACC Ltd  (LafargeHolcim group) have collectively contributed INR3.3m (US$0.43m) to three non-government organisations (NGOs) to support daily-wagers, migrant labour, slum-dwellers and the homeless stranded across the country on account of the lockdown.    Ambuja Cement and ACC are supporting Goonj, an NGO renowned for being on the forefront of disaster relief with exper...

JK Cement receives permission to restart operations

28 April 2020, Published under Cement News

India’s JK Cement has received permission from the relevant authorities to commence operations at its Rajasthan, Madhya Pradesh and Haryana sites, alongside work at its new project in Gujarat. As a result, operations have partially resumed or are being resumed after starting all necessary safety measures for staff, said the company.

Najran Cement signs financing agreement

28 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year.

HeidelbergCement Bangladesh profits hit by multiple factors

27 April 2020, Published under Cement News

HeidelbergCement Bangladesh posted an unaudited net profit of BDT43.5m (US$0.513m) for the first quarter of 2020, against earnings of BDT193m in the 1Q19. The fall in profit is attributed to an increase in cost of goods sold, alongside increased warehousing, distribution, selling and administrative expenses.   The total revenue, however, increased to BDT3.82bn from BDT3.61bn. The cost of sales...

Mixed pattern in financial results visible in 9MFY20

27 April 2020, Published under Cement News

Three more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors.   Lucky Cement Lucky Cemen...

Cemex adds hygiene and safety protocols to minimise COVID-19 risk

27 April 2020, Published under Cement News

Cemex has implemented more than 50 new hygiene and safety protocols to minimise the risk of COVID-19 contagion in its cement, ready-mix and aggregates operations. "Due to this pandemic, we have complemented our existing protocols by developing and implementing special protocols and guidelines to protect our employees, communities and customers from COVID-19 risk," said Fernando A González, CE...

Mixed results announced by Pakistani cement companies for 9MFY20

24 April 2020, Published under Cement News

Three Pakistani cement companies have announced their 9MFY19-20 financial results. DG Khan Cement Co Ltd and Kohat Cement Co Ltd have reported losses, but luckily Attock Cement Ltd has reported only a fall in profit during this financial period. Analysts have attributed losses to a combination of factors, including a significant drop in retention prices in both local and export markets, an in...