Cement News tagged: Corporate

China Tianrui Group Cement enters into new clinker supply agreement

17 October 2019, Published under Cement News

China Tianrui Group Cement has entered into a new clinker supply framework agreement with Ruiping Shilong, which will remain active until 31 December 2021. While an existing clinker supply agreement for the same term has been active since 1 April 2019, the company has stated that the actual transaction amount may exceed the proposed annual cap. Therefore, the new agreement will supersede the ...

Loma Negra to hire 120 workers for L'Amali II

18 October 2019, Published under Cement News

Argentine cement producer Loma Negra announced it will hire 120 workers for the new line at its US$350m L'Amalí II plant in Bonaerense de Olavarría, Argentina. Of the 120 new positions, 80 will be operators and the rest managers and analysts, according to a company statement. The selection of staff will be carried out both internally and externally and the company will be in charge of carryi...

Villagers complain about Alpha Cement's use of local road

17 October 2019, Published under Cement News

Alpha Cement has met with further protests about the use of a road leading finished good away from the cement plant in Aung Tha Pyay, Myanmar. The residents maintain that the coal-fired cement factory’s proximity to the Aung Tha Pyay village and Dahat Taw village tract could have serious adverse impact on the environment and the health of the people in the area. Local villagers have complaine...

ACC shows 45% increase in profit for the 3Q19

17 October 2019, Published under Cement News

India’s ACC (LafargeHolcim) saw its consolidated net profit rise 44.7 per cent YoY to INR3.03bn (US$42.25m) in the 3Q19, on the back of a three per cent climb in net sales to INR34.64bn. Operating EBITDA was up 26 per cent YoY to INR5.57bn from INR4.44bn. However, consolidated cement sales volumes fell two per cent to 6.44Mt from 6.54Mt in the 3Q18. In the 9M19 net profit increased 40 per ce...

Blackstone enters race for Emami Cement

Blackstone enters race for Emami Cement

17 October 2019, Published under Cement News

Blackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about U...

Yamama Cement sees revenue surge 73% in the 3Q19

16 October 2019, Published under Cement News

Saudi Arabia’s Yamama Cement Co has returned to profit in the 3Q19, posting a SAR45.7m (US$12.1m) profit against losses of SAR46.3m in the year-ago quarter. Revenue also surged 73.1 per cent YoY to SAR186.5m. In the first nine months of 2019, net profits reached SAR178.5m compared to a SAR58.7m loss in the 9M18. The company also recorded a 56.8 per cent YoY increase in revenue to SAR565.7m fr...

Al-Maslamia cement plant expected to be privatised

Al-Maslamia cement plant expected to be privatised

15 October 2019, Published under Cement News

The Al-Maslamia cement plant in northern Aleppo, Syria, has been the subject of negotiations between Katerji International Group and Syria's General Organisation for Cement and Building Materials. The 3Mta cement plant could be the first state plant to be privatised in a SYP200bn (US$3.9m) investment by the Katerji family. The Katerji International Group is owned by the brothers Husam, Moha...

Attock Cement profit falls 16% in 1QFY19-20

15 October 2019, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period. Other factors that led to the profit f...

GuarantCo files a petition for insolvency against Calcom Cement

15 October 2019, Published under Cement News

Mauritius-based GuarantCo has filed a petition for insolvency against Calcom Cement India (Dalmia Cement (Bharat)), regarding an alleged non-payment of around INR1bn (US$14m). GuarantCo, a financial creditor of the cement manufacturer, filed the insolvency petition against the company at the Guwahati bench of the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Ban...

LafargeHolcim and ADEME Occitanie inaugurate new waste processing plant

15 October 2019, Published under Cement News

LafargeHolcim and the French environment and energy agency ADEME have inaugurated a new solid waste processing plant at LafargeHolcim’s Port-la-Nouvelle. The facility will process non-hazardous solid waste into to an alternative fuel for the cement plant. The EUR7.5m investment will enable the Port-la-Nouvelle works to target a thermal substitution rate of over 90 per cent by 2022 and as a r...

Raysut Cement sees 9% decline in revenue for 9M19

15 October 2019, Published under Cement News

Oman’s Raysut Cement Co has announced an 8.5 per cent fall in total revenue to OMR62.13m (US$161.58m) in the nine months ended 30 September 2019, compared with OMR67.89m in the year-ago period. Profit before tax declined 65 per cent YoY to OMR1.01m in the 9M19, while profit after tax decreased 49.2 per cent to OMR1.01m from OMR1.99m.

Holcim Croatia acquires Readymix Croatia

15 October 2019, Published under Cement News

Holcim Croatia has acquired Readymix Croatia and is expected to invest in a newly-acquired quarry site following the transaction. Although the financial details of the deal were not released, the company noted that it is its fourth quarry in the domestic market. The quarry site in Vranje, Lupoglav, is strategically located due to construction projects that will take place in this area over t...

Kwanza Sul to increase output to 1.05Mta

14 October 2019, Published under Cement News

From 2020 Fábrica de Cimento do Kwanza-Sul (FCKS) plans to increase production at its Sumbe plant in Angola to 70 per cent of its 1.5Mta cement capacity, according to its Director of Human Resources and Administration, Joaquim Manuel. This will lift output to 1.05Mta. Achieving an output of 1.05Mta will enable the company to meet the growing demand from public and private projects. At presen...

FLSmidth adjusts 2019 EBITDA guidance

14 October 2019, Published under Cement News

FLSmidth revises its financial guidance for the full-year 2019. Revenue is now expected to be in the range of DKK20-21bn (US$2.95-3bn). The EBITA margin is now expected to be around eight per cent down from previous estimates of 9-10 per cent. Return on capital employed is now expected to be 10-12 per cent (previously 12-14 per cent). FLSmidth specified that it expected the full-year EBITA ...

Semen Indonesia replaces Holcim brand with Dynamix

14 October 2019, Published under Cement News

After being acquired by PT Semen Indonesia (Persero) Tbk, PT Solusi Bangun Indonesia Tbk (SBI) has changed its Holcim cement brand to Dynamix. The name change was carried out as an effort to strengthen competitiveness in an increasingly-competitive national market, said the company. SBI President Director, Aulia Mulki Oemar, said that the brand replacement was part of the company's transforma...

Al Tasnim Cement opens ready-mix plant in Oman

14 October 2019, Published under Cement News

Al Tasnim Cement Products Division has launched its new ready-mix plant in Duqm, Al-Wusta, Oman. The plant is situated in the industrial Special Economic Zone and will produce durable concrete. This new ready-mix factory has an installed capacity of 425m 3 /h, and is suported by three batching plants in Duqm and one onsite batching plant in RaMakaz. Pankaj Zaveri, director at Al Tasnim Cemen...