Cement News tagged: Corporate

Star Cement sees 16% rise in net profit

07 November 2019, Published under Cement News

India-based Star Cement reported a standalone net profit of INR550.8m (US$7.8m) for the quarter ended 30 September 2019, up 16.2 per cent YoY from INR474m in the year-ago period. The company’s net revenues increased by seven per cent to INR3.735bn in the July-September quarter whencompared with INR3.49bn in July-September 2018. Operating expenses were up 9.5 per cent YoY to INR3.105bn from...

Breedon shareholder plans to sell up to 8.3% stake

07 November 2019, Published under Cement News

Breedon Group Plc shareholder M1 Cement Holding Ltd plans to sell up to 8.3 per cent of the company’s issued share capital via a secondary placing, according to brokerage JP Morgan Securities Plc. M1 Cement plans to sell up to around 139.7m shares in the British construction-materials company. The price of the placing will be determined through an accelerated bookbuild process to institution...

Umm Al Qura Cement returns to profits

07 November 2019, Published under Cement News

Umm Al Qura Cement Co reported a profit of SAR18.9m (US$5.04m) in the 3Q19, when compared with a loss of SAR3.93m posted in the 3Q18. Revenues of the Saudi cement producers surged 89.7 per cent to SAR63.96m in the 3Q19, compared with SAR33.7m in the year-ago quarter, according to a bourse statement. For the first nine months of 2019, net profits surged by 719 per cent to SAR52.7m from SAR6...

Siam Cement reports 35% fall in net profit

07 November 2019, Published under Cement News

Thailand’s Siam Cement has reported a 35 per cent fall in net profit to THB6.20bn (US$205m) for the 3Q19. However, revenue rose eight per cent YoY to THB110.33bn. Revenue from its chemicals business decreased 24 per cent YoY to THB44.05bn, while revenue from its cement and building material segment was down two per cent to THB45.32bn. The company attributed the results to the lower contribu...

JK Cement’s Satha line expected to be ready in December

JK Cement’s Satha line expected to be ready in December

07 November 2019, Published under Cement News

India-based JK Cement is setting up a clinker grinding unit in Satha village, Aligarh district, Uttar Pradesh. The INR2.664bn (US$37.6m) project will have a capacity of 2Mta and will be built on a 6.83ha plot. Equipment will be supplied by FLSmidth. Following receipt of environmental clearance, civil work has been completed and equipment installation is currently in progress.. Completion i...

Malayan Cement Bhd on course for profits in 2020

07 November 2019, Published under Cement News

Malayan Cement Bhd is likely to turn a profit from 2020 onwards by reducing operating costs and implementing a cost rationalisation  initiative which began in 1H19, according to a research house. In the 1H19 Malayan Cement's net loss fell by 45 per cent YoY to MYR80.5m (US$19.4m) and while revenue was  down six per cent, operating costs declined by 12 per cent. The company has since benefit...

Birla Corp sees 450% rise in net profit

Birla Corp sees 450% rise in net profit

08 November 2019, Published under Cement News

India's Birla Corp has seen a 450 per cent increase in net profit to INR880m (US$12.4m) in the 2QFY19-20, compared with INR160m in the corresponding period of the previous fiscal. Revenue advanced 10.9 per cent YoY to INR16.47bn, while EBITDA surged 61 per cent to INR3.32bn. The EBITDA margin climbed to 20.1 per cent from 13.9 per cent. The company has attributed the positive results to hig...

UltraTech Cement looks to divest Bangladesh asset

08 November 2019, Published under Cement News

India's UltraTech Cement has stated that its plan to divest non-core assets in China, the UAE and Europe, is progressing well. It has also announced that it is looking to exit the Bangladesh market. "We are also exploring opportunities to exit Bangladesh, where we have a small grinding unit of 0.6Mt. All the proceeds from these asset disposals will help bring down our leverage position furt...

ACC plans integrated works in Bilaspur, Chhattisgarh

06 November 2019, Published under Cement News

ACC is planning to build an integrated cement plant at Masturi, Bilaspur district, Chhatisgarh, on 105ha of land. The project will represent an estimated investment of INR29bn (US$408.8m). The new cement works will have a capacity of 2.72Mta of clinker and 4.05Mta of cement. It will include a captive power plant of 65MW and a WHR-based power plant of 10MW. Limestone will be supplied from a ...

Eastern Province Cement records 300% increase in net profit

06 November 2019, Published under Cement News

Saudi Arabia’s Eastern Province Cement Co has reported a 300 per cent increase in net profit to SAR36m (US$9.6m) in the 3Q19, compared with SAR9m in the year-ago period. Sales also advanced 42.6 per cent YoY to SAR174m from SAR122m. During the first nine months of 2019, net profit surged 159.1 per cent YoY to SAR114m from SAR114m in the 9M18. The increase in profit has been attributed to hi...

Bestway's CEO takes seat in UK House of Lords

06 November 2019, Published under Cement News

British-Pakistani businessman Lord Zameer Choudrey has formally taken his seat in the House of Lords with a pledge to use his position to work towards improving trade relations between Pakistan and the UK.   As the Chief Executive of Bestway Group, Lord Choudrey manages Bestway Cement Ltd, United Bank Ltd and MAP Rice Mills, aside from owning Bestway Wholesale in the UK, Well Pharmacy, real es...

Fire put out at Cemex's Rugby cement plant

06 November 2019, Published under Cement News

Some 50 fire fighters and eight fire engines were called to Cemex's Rugby cement plant in Warwickshire, UK, at 2.15am on 5 November to put out a fire that had spread to four storeys of the 70m-high preheater tower. The blaze centred around a conveyor belt. A spokesman from Cemex said, "Cemex confirms there was a fire at the Rugby cement plant in the early hours of 5 November. We are grateful...

Vicat gets more American sales, north and south

05 November 2019, Published under Cement News

Vicat's turnover for the first nine months of 2019 improved by 5.7 per cent to EUR2059m, which represents an underlying reduction of 0.7 per cent. Cement deliveries declined by 4.4 per cent to 16.66Mt. The aggregates and concrete turnover improved by 9.3 per cent to EUR819m with shipments of aggregates edging ahead by 0.3 per cent to 17.21Mt and deliveries of ready-mixed concrete declined by 2...

Lafarge Jordan Cement set to cut 200 jobs

05 November 2019, Published under Cement News

Lafarge Jordan Cement has announced it would be cutting 200 jobs to remain in business after accumulating losses of JOD62.2m (US$87m) following the closure of one plant in the country and the partial shutdown of another, according to Reuters. The company recorded losses of JOD34.6m in 2018, compared to JOD33.3m in the previous year. "The decision is part of the company plan to ensure its co...

Hanson secures rail deal to supply Hinkley Point C project with cement

05 November 2019, Published under Cement News

Hanson Cement (HeidelbergCement group) has agreed a new contract with GB Railfreight for seven years. The new deal will provide freight services for bulk cement from the Ketton works in Rutland, Lancashire, to terminals at London King's Cross, Avonmouth in Bristol and Mossend in Glasgow. GB freight will operate nine trains a week for cement deliveries in the UK for Hanson Cement which ...

City Cement sees 96% rise in revenues, back in profit in 3Q19

05 November 2019, Published under Cement News

Saudi-based City Cement Co reported profits of SAR50.5m (US$13.5m) in the 3Q19 when compared with SAR2.38m loses in the same quarter of 2018, according to Mubasher. Total revenues increased by 95.8 per cent to SAR127.9m in the third quarter, compared to SAR65.3m in the 3Q18, said a bourse statement. In the first nine months of 2019, net profits of City Cement soared by 283.3 per cent to SAR1...