Cement News tagged: Corporate

Titan Global Finance Plc makes EUR250m notes offering

03 July 2020, Published under Cement News

Titan Global Finance Plc, subsidiary of Titan Cement International SA, has made a EUR250m notes offering that will mature in 2027, with a 2.75 per cent coupon per annum. The orders in the book were above two times the nominal amount of the issue and the application will be made to the Irish Stock Exchange plc, trading a Euronext Dublin. The closing date is set for 9 July 2020. The proceeds of...

Najran Cement Co fully repays loan for WHR project

02 July 2020, Published under Cement News

Najran Cement Co has fully repaid the remaining amount of a SAR45m (US$12m) existing loan, which was used to finance the company's waste heat recovery project. The credit facility was originally supposed to be repaid in three instalments due on 31 December 2020, 31 March 2021, and 30 June 2021, according to a bourse filing. Following this transaction, the company now has a SAR355m loan t...

Malaysia’s CMS sees 64% drop in net profit

02 July 2020, Published under Cement News

Malaysia-based Cahya Mata Sarawak Bhd (CMS) reported a 32.5 per cent drop in revenue to MRY282.5m (US$65.9m) in the first quarter of 2020. Its cement segment saw revenues fall by 17.9 per cent to MRY120.2m and was the least-affected part of the business. Profit before tax declined 57.1 per cent YoY to MYR32.7m with the cement segment being the only one to record a profit. CMS’s cement busine...

Andhra Cement January-March net sales down 85% YoY

02 July 2020, Published under Cement News

India-based Andhra Cement has reported standalone net sales of INR109.5m (US$1.44m) in January-March 2020, down 85.4 per cent when compared with INR749.4m in January-March 2019. In the January-March 2020 quarter the company posted a net loss of INR-543.8m while EBITDA was INR113.2m.

Raysut Cement targets east African expansion

Raysut Cement targets east African expansion

02 July 2020, Published under Cement News

Oman's Raysut Cement plans a five-fold increase in its cement production capacity, says Joey Ghose, Raysut Cement's CEO. The expansion would see Raysut Cement increase production from 5Mta to 26Mta in the next few years. The expansion would be accomplished through a mixture of joint ventures, acquisitions and greenfield cement projects, added Ghose. Expenditure would amount to US$65-78m in t...

Power Cement begins commercial operations at 7700tpd plant

03 July 2020, Published under Cement News

Pakistan’s Power Cement Ltd has announced that its 7700tpd clinker production plant has reached its rated capacity and will therefore begin commercial production from 1 July 2020.   The company noted production levels of 450,096t and 502,541t of cement and clinker, respectively, during the 9MFY19-20. Domestic sales reached 418,757t, while cement exports were at 4372t and clinker exports at 1...

Anjani Portland Cement reports net profit rise in FY19-20

Anjani Portland Cement reports net profit rise in FY19-20

01 July 2020, Published under Cement News

India’s Anjani Portland Cement has reported a 14.7 per cent decline in total income to INR1.03bn (US$13.63m) for the final quarter of FY19-20, compared to INR1.21bn in the year-ago period. Net profit also fell 30.2 per cent YoY to INR80.4m from INR115.1m. In the full FY19-20, total income was down 5.9 per cent to INR4.13bn from INR4.39bn in the previous fiscal year. However, net profit surged...

Cemex cancels El Musel project due to COVID-19

03 July 2020, Published under Cement News

Cemex is cancelling its terminal project that would see the company import 150,000tpa of cement via the Ingeniero Olano dock in El Musel, Gijón, Spain. In February 2019 Cemex applied for a concession at the Olano quay to unload cement to build two storage silos and a bagging plant, representing an investment of approximately EUR5m. Forecasts at the time expected 50,000t of cement to be import...

Innovandi launches online workshops

30 June 2020, Published under Cement News

The Global Cement and Concrete Association’s research network, Innovandi has launched a week of online workshops to take place from 29 June to 03 July.   The event is expected to see 40 international scientific institutions and 30 leading industry players from across the cement and concrete sector come together to set the key themes for future research projects to improve sustainability and d...

Bashundhara Industrial Complex secures land for bagging factory

30 June 2020, Published under Cement News

Bangladesh’s Bashundhara Industrial Complex has signed an agreement for 16 acres of land, located 1km away from Mongla port and another 20km away from the site of a proposed airport in Bagerhat. The company intends to use the land for the construction of a factory that will produce cement bags for its two cement plants.

Titan issues notes for general purposes, including bank debt repayment

30 June 2020, Published under Cement News

Titan Global Finance plc, a subsidiary of Titan Cement International SA, is inviting holders of its 3.500 per cent guaranteed notes due June 2021, originally issued in an aggregate principal amount of EUR300m and of which EUR287m remains outstanding, to tender any or all of their notes for purchase by the offeror of cash. The offeror will pay a cash purchase price equal to EUR1016 per EUR1000 ...

Tourah Portland Cement sees loss widen in 1Q20

29 June 2020, Published under Cement News

Egypt’s Tourah Portland Cement has seen its net loss widen to EGP64.9m (US$4m) in the first quarter of 2020, compared to EGP50.9m in the 1Q19. The company also reported an 82.8 per cent YoY decline in sales to EGP50m from EGP290.8m.

National Cement Co reopens Souq Al-Khamis factory

29 June 2020, Published under Cement News

Libya’s Economic and Social Development Fund has announced National Cement Co will be resuming production at its Souq Al-Khamis factory. The fund said security conditions in the region, which saw intensive fighting during the aggression on Tripoli, have improved since the cessation of military operations and the defeat of the Haftar militias in southern Tripoli. Therefore, the 1Mta plant wil...

Suez Cement sees 27% fall in revenue

29 June 2020, Published under Cement News

Egypt’s Suez Cement has posted an EGP389.65m (US$24.07m) net loss in its consolidated results for the 1Q20, compared to an EGP213.07m profit in the first quarter of 2019. The company’s revenue also fell 26.5 per cent YoY to EGP1.33bn from EGP1.81bn. Suez Cement’s standalone results saw its net loss widen to EGP193.84m in the January-March 2020 period, against EGP95.16m in the 1Q19.

Holcim Philippines appoints new VPs

29 June 2020, Published under Cement News

Holcim Philippines has appointed Edwin Villas as senior vice president logistics after Mr Villas served as officer-in-charge of the department since 2019 concurrent to his role as vice president for sales, Greater Manila Region and South Luzon. He previously held senior Sales leadership roles and served in Procurement and Internal Audit. Villas is a Certified Professional for Supply Management...

Star Cement sees 4% increase in sales

26 June 2020, Published under Cement News

India’s Star Cement has reported a 3.5 per cent rise in net sales to INR5.57bn (US$73.58m) in the final quarter of the FY19-20, compared with INR5.38bn in the corresponding period of the previous fiscal. However, the company’s net profit declined 4.4 per cent YoY to INR858.3m from INR897.7m. In the full FY19-20, total income edged up two per cent YoY to INR18.73bn from INR18.37bn. Net profit ...