Cement News tagged: Corporate
Fitch Ratings affirms Cimentos Tupi's rating, Brazil
Fitch Ratings has affirmed Brazilian cement producer's Cimentos Tupi's 'B' ratings but has warned that a ratings downgrade could result from delays in the inauguration of the its new kiln. Tupi is expected to receive government licenses to start operation of its Pedra do Sino kiln during May. "Receiving the approval in a timely manner will be crucial to avoiding a future downgrade, as the ...
Eurocement Ukraine appoints director general
Eurocement Ukraine's supervisory board has appointed Oleh Lopatin as director general for a period of one year, the company said in as statement. He will replace Vitalii Horholiuk who has been acting direct general since 9 April 2012. Since 2010, Lopatin has headed the Voronezh affiliate of Moscow-based Eurocement Group (Russia).
Siam Cement to consolidate cement and building materials businesses
Siam Cement Group (SCG) is consolidating its cement and building materials businesses to strengthen its competitiveness for further regional expansion. "There is strong synergy among the cement, building materials and distribution businesses, which are related to the construction industry," said Kan Trakulhoon, SCG president and, said in a filing to the Stock Exchange of Thailand. The ...
DG Khan to buy stake in GS Cimento, Mozambique
Pakistan-based cement producer DG Khan Cement Company (DGKC) has signed a Memorandum of Understanding (MoU) to acquire a majority stake in an upcoming Mozambique cement producer. DG Khan has informed the Pakistan Stock Exchange that it has entered into a MoU with Sumaria Cement Holdings Ltd of Mauritius to acquire a 57.5 per cent shareholding In GS Cimento which is plans to construct a 0.55...
Texas Industries third-quarter loss narrows, USA
Texas Industries, Inc reported a net loss of US$5.8m for the third quarter ending 28 February 2013 compared to a net loss of US$24.3m in the same period a year before. “Construction activity in Texas and California continued to improve this quarter,” stated Mel Brekhus, Chief Executive Officer. “Gross profit increased US$14.2m on increased sales of US$19.5m. This increase in profitability p...
Lafarge Nigeria pretax profits more than doubles
Lafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn a year ago. Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said. Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria wit...
Kuwait Cement Company net profit edges higher
Kuwait Cement Company recorded a net profit of KWD14.78m (US$51.9m) in 2012, up 3.6 per cent from KWD14.27m a year earlier, the company said in a bourse filing. The cement producer reported earnings per share (EPS) of 23.94 fils for 2012, compared to 23.08 fils a year ago. The total assets rose to KWD286.2m at end-December 2012 from KWD258.9m a year ago. Kuwait Cement is the largest cement p...
Eurocement Ukraine swings to profit
Eurocement Ukraine has reported a rise in net profit for 2012 of UAH37.433m (EUR4.6m) compared to a loss of UAH46.048m in 2011. The company is a subsidiary of a subsidiary of the Russia-based Eurocement group and has two cement works in Ukraine. Khrakov region in northeastern Ukraine has five kilns, the largest of which was re-commissioned in 2007 after a decade-and-a-half of idleness. The ...
Deutsche Bank: Conch to gain greater pricing power, China
In light of slowing demand growth and severe overcapacity in East China, the operating landscape has changed in favour of Conch partly through superior production costs and greater pricing power, Deutsche Bank says in a recent note. The bank believes that smaller players are losing market share as they can no longer compete with Conch's superior production costs (10-20 per cent below its pe...
Huaxin Cement sees net profit down 48.32% in 2012
Huaxin Cement Co Ltd, part of the Holcim Group, said net profit last year fell 48.32 per cent to CNY556m (US$91m). It attributed the reduction to severe price competition and its profit contribution to Holcim declined. Huaxin Cement, which is based in the Hubei province, saw operating revenue for 2012 slid 0.93 per cent YoY to CNY12.52bn (US$2bn).
Holcim Lanka appoints new CEO, Sri Lanka
Philippe Richart, formally responsible for the readymix concrete business in Holcim Vietnam, has been appointed CEO of Holcim Lanka, effective 1 March 2013. The change of CEO, which was announced in February 2013, was part of a generational change in the company’s leadership. Philippe joined Holcim Group Support in 2004 as a Commercial Project Manager for the Aggregates and Constructions M...
Anhui Conch net profit hit by weaker prices, China
Anhui Conch reported a 45.6 per cent in net profit for 2012 due to weaker average selling prices. The company reported net profit of CNY6.31bn (US$1bn) last year as average prices slipped to CNY245/t from CNY308/t a year ago. Operating revenue dropped 6.41 per cent per cent YoY to CNY45.06bn in 2012. The company sold 187Mt of clinker and cement last year, reflecting a growth of 18.33 per c...
UltraTech commissions clinker and grinding projects, India
India’s leading cement producer, UltraTech Cement, has commissioned two new cement facilities as part of its ongoing expansion drive. The company has informed the Bombay Stock Exchange that it has commissioned its 3.3Mta brownfield clinker plant at Rawan, Raipur, Chhatisgarh state. Meanwhile, it has also commissioned a 1.6Mta grinding unit in Hotgi, Solapur, Maharashtra. The company is a...
Cimpor: restructured for growth
Following the restructuring of Cimpor and asset swaps with InterCement Austria Holding, the Portuguese cement major is looking forward to an increased footprint in Latin America and Africa, two geographic areas with high growth potential. Essentially, Cimpor acquired the assets held by Camargo Correa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay in exchange for Cimp...
Credit Suisse lowers China Shanshui Cement target price
Credit Suisse lowered its target price for China Shanshui Cement to HK$4.2 from HK$5.5, and maintained its "neutral" call. The house expects unit gross profit to soften in 2013 to CNY65/t due to moderate supply pressure in Shandong, combined with depressed margins in Shanxi and Xinjiang (13 per cent of 2013 sales). Credit Suisse said its recent visit to Shandong also suggests 2Q2013 construc...
ARM Cement boosted by higher sales
ARM Cement, Kenya's second-largest producer, has reported an eight per cent advance in 2012 net profit and says it expects improved profitability on the back of new capacity. Formerly known as Athi River Mining, the company said in a statement that net income advanced to KES1.25bn (US$14.6m) in the first 12 months of December. Cement sales rose 64 per cent after its market share increased in...