Cement News tagged: Corporate
Sanghi Industries' 3Q benefits from extended sales reach
Sanghi Industries Ltd has posted a 234 per cent jump in net profit as the Gujarat-based producer increases its geographical sales spread and implements a number of cost-saving measures. Net profit for the third quarter ended 31 March 2013 reached INR419m compared to INR125m for the same quarter in previous financial year. Net sales in the 3QFY12-13 were INR2981m, almost on a par with the IN...
Buzzi Unicem is advancing in Russia and in the USA
Buzzi Unicem's first-quarter turnover declined by 10.5 per cent to €503.14m and the EBITDA dropped by 51 per cent to €11.75m but advances were seen in Russia and the USA. The loss at the trading level was 29.7 per cent higher at €42.03m. Net financial charges declined by 7.3 per cent to €25.83m to give a seasonal pre-tax loss 7.1 per cent higher at €68.82m. Net debt at the end of March was ...
Trinidad Cement Ltd 1Q13 boosted by higher sales volumes and prices
For the first quarter of 2013, Trinidad Cement Ltd recorded EBITDA of JMD114.2m (US$1.16m), reflecting a significant improvement over the first quarter of the previous year and 74 per cent of the total EBITDA achieved throughout 2012. Revenue for the quarter increased by JMD117m compared with the prior year as a result of higher cement sales volumes, the group said in a statement. Volumes w...
Cementir hit by hard Nordic winter
Cementir's first-quarter turnover eased by 0.3 per cent to €194.7m and the EBITDA declined by 26.9 per cent to €9.2m as the cement major was hit by a hard Nordic winter weather. The trading loss increased by 56.1 per cent to €12.4m, but at the pre-tax level the increase in the loss was a more modest 20.3 per cent up to €13.7m. The severe winter weather in Scandinavia and Italy had a partic...
Tajikcement’s coal-fired kiln scheduled for mid-June delivery
China-based Beijing Uni-Construction Group Co Ltd has started preparation works for the installation of a coal-fired kiln at Tajikcement’s state-run cement plant in Dushanbe. Tajikcement, the country's largest cement producer with four 600tpa kilns and two 300tpa lines has not been operational since the beginning of this year due to a lack of natural gas supplies. Citing sources at the Mini...
Pakistan 10-month dispatches rise 4.09%
Pakistan cement dispatches rose by 4.09 per cent in the first 10 months of the current fiscal, the latest data from the All Pakistan Cement Manufacturers Association (APCMA) shows. Dispatches for the 10 months to April 2013 reached 27.664Mt compared to 26.576Mt during the same period of the previous year. Domestic sales accounted for 21Mt, representing a 6.03 per cent YoY increase. In Ap...
Siam City Cement 1Q sales rise, net profit hit by higher costs, Thailand
Siam City Cement Co (SCCC), Thailand’s second-largest cement producer, reported a decline in operating and net profit for the 1Q13 despite a rise in sales as higher electricity and transport costs negatively affected results. Net profit for the three months to the end of March 2013 was THB1.12bn (US$37.7m), down 5.4 per cent on the same quarter of last year. Sales, however, were up 8.4 p...
Thatta Cement signs joint venture agreement with Cementia
Pakistan cement producer Thatta Cement has signed a joint venture agreement with Cementia Holding for a new grinding plant in Sri Lanka. Cementia, based in Switzerland, is part of the Lafarge group and specialises in the trade and seaborne delivery of clinker, cement and cementitious products. “We wish to inform that today M/s Thatta Cement Company Limited (THCCL) has executed a Joint ...
Cementos Argos issues US$765m to finance expansion plans
Colombia's leading cement producer Cementos Argos has issued COP1.4trn (US$765m) worth of preferred shares to finance expansion plans. The company sold the 182 million shares at COP7,700 each to both domestic and foreign investors, receiving offers worth COP2.1trn, the company said in a statement. It may sell another 32 million shares in a second round at the same price per share, it s...
Asia Cement raises US$220m from sale of five-year bond
Asia Cement has raised US$220m from the sale of a five-year, zero-coupon convertible bond which it plans to use to repay maturing bonds. Due to strong demand, the deal was upsized in full, or by 10 per cent. The transaction came after the Taiwanese company’s share price on Monday hit its highest close since December. It is the second US dollar CB out of Taiwan this year after Far Eas...
Cementos Portland Valderrivas revises 2012-21 business plan, Spain
Spain's leading cement producer, Cementos Portland Valderrivas, has revised its business plan for 2012-21 after recording a loss of EUR27.7m in the first quarter of 2013. The company, which is controlled by the contracting group Fomento de Construcciones y Contratas, has announced its intention to dispose of non-core assets and temporarily close plants due to the continuing decrease of the ...
Taiheiyo Cement full-year pretax profit seen beating estimates
Japan’s leading cement producer, Taiheiyo Cement Corp, is expected to have posted a 70 per cent YoY rise in pretax profit for the fiscal year to the end of March 2013. Net profit is expected to have beat forecasts of JPY30.5bn to reach around JPY32bn, according to a Nikkei Report. Sales are believed to have increased by three per cent to approximately JPY750bn while volume grew at least five...
Cost cuts, improved pricing boost Holcim 1Q
Higher prices, cost savings from its efficiency programme as well as the sale of a stake in Cement Australia helped Holcim compensate for harsh first-quarter winter weather which dragged on sales. Consolidated net sales for the first three months of the year were 7.2 per cent lower at CHF4.3bn (EUR3.5bn) and operating EBITDA fell by 9.5 per cent to CHF650m, the main reason for which, Holcim...
HeidelbergCement net loss widens, confirms 2013 outlook
HeidelbergCement said its first-quarter loss widened in the first quarter of 2013 compared to a year ago as sales were impaired mostly by a weak European market. However, the German cement major reported a rise in operating income and has confirmed its 2013 outlook. Group share of the after-tax loss was EUR235m in the first quarter of 2013, wider than the EUR208m loss a year earlier. O...
CRH sees US operations offsetting weaker European market
In trading statement released today, CRH said the first four months of 2013 were affected by adverse weather conditions but expects growth in the second half to be led by its US operations. Combined with a challenging economic environment, most of CRH’s European operations experienced lower activity and sales declined 12 per cent (approximately €0.3bn) in the first four months of the year co...
Asia Cement Corp plans US$200m convertible bond issue – report
Taiwan-based Asia Cement Corp is planning a US$200m convertible bond issue to repay debts, according to Dow Jones Newswires Tuesday. The Taiwanese company is selling the five-year zero-coupon bond convertible into its Taipei-listed ordinary shares at an indicative price range of TWD46.13 and NT$48.00, representing a premium of 23-28 per cent above the stock's Tuesday closing price of ...