Cement News tagged: Corporate

Titan Group sees 6% revenue increase in 1Q20

14 May 2020, Published under Cement News

Based on robust US demand and resilience of markets in the eastern Mediterranean, Titan Group's consolidated revenue increased in the 1Q20 by 6.1 per cent, reaching EUR384.8m, despite the slowdown of business due to COVID-19 since mid-March. EBITDA declined by EUR3.7m, or 8.5 per cent YoY, reaching EUR40.6m, mainly due to the advanced costs of about EUR10m associated with the earlier timing o...

Siam Cement Plc cement sales down 4% in 1Q20

14 May 2020, Published under Cement News

Thailand's Siam Cement Plc reported profits of THB6971m (US$217.1m), down two per cent QoQ and EBITDA slipped to THB15,424m down 126 per cent. Revenue from sales was steady at THB105,741m, with increased revenues from cement-building materials and the packaging business offsetting decreases from the chemicals division. First-quarter revenue from sales in the cement-building materials business...

Semen Indonesia Group sales edge up in April

14 May 2020, Published under Cement News

Semen Indonesia Group (SIG) reported total sales in April 2020 of 3,060,256t, up 0.5 per cent when compared with April 2019, when the group achieved sales of 3,046,007t. Semen Indonesia (including SBI) saw sales advance in April 2020 by 0.7 per cent YoY to 2,860,091t from 2,841,406t. While domestic offtake slipped by 3.9 per cent from 2,516,121t in April 2019 to 2,419,221t one year later, e...

Gulf Cement records net loss in 1Q20

14 May 2020, Published under Cement News

UAE-based Gulf Cement has posted a net loss of AED28.9m (US$7.87m) in the first quarter of 2020, compared to an AED1.5m profit in the corresponding period of last year. Revenues also declined 32 per cent YoY to AED88.26m from AED130.06m. The company has also reportedly seen an investment loss of AED4.6m in the first three months of the year, compared to an investment income of AED260,207 in...

Alexandria Portland Cement sees net loss contract in 1Q20

Alexandria Portland Cement sees net loss contract in 1Q20

14 May 2020, Published under Cement News

Egypt’s Alexandria Portland Cement has seen its consolidated net loss contract 54 per cent YoY to EGP35.82m (US$2.27m) in the first quarter of 2020, compared to a loss of EGP77.58m in the year-ago period. Company revenues saw a minor fall in revenue to EGP575.1m from EGP581.3m. As for its standalone business, net losses widened to EGP28.57m from EGP27.73m in the 1Q19.

Lhoist North America to construct new lime kiln at Marble Falls

14 May 2020, Published under Cement News

After extensive technical review, Lhoist North America has received permit approval from the Texas Commission on Environmental Quality for construction of a new energy-efficient lime kiln at its Marble Falls, Texas facility. The regulatory approval paves the way for Lhoist to begin construction on the significant expansion at the facility. The new vertical kiln, which is expected to be operat...

KCP appoints new managing director

KCP appoints new managing director

14 May 2020, Published under Cement News

India’s KCP Ltd has received shareholder approval for the appointment of V L Indira Dutt as its new chairperson and managing director with immediate effect. The company's executive chairman, V L Dutt, had passed away earlier this year. Prior to taking up the new responsibility, Indira Dutt was director of KCP Ltd, Velagapudi Foundation, KCP Vietnam Industries and V Ramakrishna Sons.

Hong Leong Asia makes takeover offer for Tasek Corp

13 May 2020, Published under Cement News

Hong Leong Asia, which currently holds an 88.16 per cent stake in Malaysia’s Tasek Corp through two subsidiaries, has reportedly launched an unconditional voluntary takeover offer to acquire the remaining shares for around MYR83.9m (US$19.35m). The company, via its HL Cement and Ridge Star subsidiaries, had sought to take Tasek private last year, according to The Business Times Singapore. ...

LafargeHolcim propose dividened and re-elect board members at AGM

13 May 2020, Published under Cement News

LafargeHolcim shareholders confirmed the proposed distribution of a dividend of CHF2.00 per registered share (US$2.06/registered share) of LafargeHolcim Ltd from capital contribution reserves. The dividend is not subject to Swiss withholding tax.   The Annual General Meeting confirmed Beat Hess as chairman of the company’s Board of Directors. Except for Paul Desmarais Jr, who did not stand for...

Cemex UK to mothball South Ferriby plant in 3Q20

13 May 2020, Published under Cement News

Cemex UK has announced a proposed mothballing of the South Ferriby plant during the 3Q20. It is anticipated that the proposal may result in redundancies of all the employees currently based at the South Ferriby Cement plant. The current cement drivers based at South Ferriby are not immediately impacted, but the intention is to review the optimal haulage provision. Cemex will shortly commence ...

Buzzi Unicem records 1Q20 net sales of EUR688.5m

14 May 2020, Published under Cement News

Buzzi Unicem has released its 1Q20 results which saw net sales reach EUR688.5m, up 4.9 per cent on 1Q19. Cement sales rose by 0.4 per cent to 6Mt, while concrete volumes fell by 3.5 per cent to 2.5Mm 3 , compared to 1Q19. Net debt as at 31 March 2020 amounted to EUR525.2m, EUR46.6m lower compared to the year-end 2019. Since March production and business activities have been severely hampered...

Loma Negra reports 30% decline in revenue

12 May 2020, Published under Cement News

Argentina’s Loma Negra has reported a 29.6 per cent fall in net revenue to ARS7.77bn (US$122m) in the first quarter of 2020, compared to ARS11bn in the year-ago period. The company’s net profit saw a 44.4 per cent YoY decline to ARS881m from ARS1.58bn. Consolidated adjusted EBITDA was down 17.9 per cent YoY to ARS2.60bn, while the adjusted EBITDA margin increased to 33.5 per cent from 28.7 ...

Votorantim sells Canadian quarry to Sunrock Group

12 May 2020, Published under Cement News

Votorantim Cimentos' North American business unit, St Mary's Cement, has sold an existing quarry with 1400 acres of high-quality aggregate reserves located in Burnt River, Ontario, Canada, to The Sunrock Group, a privately-held construction materials supplier headquartered in Raleigh, NC, USA. According to Bryan Pfohl, the Sunrock Group’s chairman and CEO: "The Sunrock Group is looking forwar...

Shree Cement posts 58% increase in profit

12 May 2020, Published under Cement News

India’s Shree Cement has seen a 57.6 per cent rise in consolidated net profit to INR5.36bn (US$70.78m) in the quarter ending 31 March 2020, compared with INR3.12bn in the year-ago period. The company’s total income remained largely consistent with last year at INR35.13bn from INR35.38bn. In the 4QFY19-20, the company’s fuel and power expenses declined 19.8 per cent YoY to INR6.98bn. Duri...

LafargeHolcim Bangladesh 1Q20 net profit rises 46%

11 May 2020, Published under Cement News

LafargeHolcim Bangladesh sustained its profitability during January-March 2020, despite the ongoing COVID-19 pandemic. LafargeHolcim Bangladesh's net profit surged about 46 per cent YoY to BDT522.45m (US$6.2m) in the 1Q20, against earnings of BDT357.81m in the 1Q19. The rise in profit can be attributed to a decrease in cost of goods sold, alongside a reduction in finance cost and lower income...

Arabian Cement sees 22% rise in profit

11 May 2020, Published under Cement News

Saudi-based Arabian Cement Co has recorded a 21.6 per cent increase in net profit to SAR45.1m (US$12.03m) for the first quarter of 2020, compared to SAR37.1m in the year-ago period. The company also reported an 8.2 per cent YoY rise in quarterly sales to SAR204.6m from SAR189.1m.