Cement News tagged: Corporate

Cemex announces temporary closures in Colombia and Panama

27 March 2020, Published under Cement News

Cemex has announced that its Colombian subsidiary will temporarily suspend production from 25 March, following a decree relating to the coronavirus pandemic. Certain activities may resume on or before 13 April, if permitted. In addition, following measures implemented by the authorities in Panama, Cemex will also temporarily stop production and related activities in the country.

Cemex makes organisational changes

27 March 2020, Published under Cement News

Cemex has announced that Sergio Mauricio Menéndez Medina, current president of Cemex Europe, has been appointed as president of Europe, the Middle East, Africa and Asia. Therefore, Mr Menéndez Medina will oversee the business in the Philippines, Israel, Egypt and the UAE, in addition to his current responsibilities, with effect from 27 March 2020. "I would like to thank our current presiden...

Buzzi Unicem sees 12% rise in sales, stable net profit in 2019

27 March 2020, Published under Cement News

Italy-based Buzzi Unicem reported a 12.1 per cent rise in net sales in 2019 to EUR3.221bn in 2019, up from EUR2.874bn. The company posted a 4.3 per cent YoY rise in cement sales to 29.122Mt in 2019 while ready-mix sales remained stable at 12.1Mm3 over the same period. EBITDA surged to 26.1 per cent to EUR728.1m in 2019 while recurring EBITDA saw a 23.9 per cent jump to EUR704.4 when compared w...

Eagle Cement sees sales advance 20% in 2019

26 March 2020, Published under Cement News

Philippines-based Eagle Cement Corp saw its net sales advance 20 per cent YoY to PHP19.82bn (US$387.78m) in 2019. Gross profit rose 20 per cent to PHP8.67bn, while net income reached PHP6.02bn. The company has attributed the positive results to the commissioning of its third production line in Bulacan, increasing its total capacity to 2Mta. The construction of its fourth production line in ...

Sinai Cement reports widening net loss in 2019

Sinai Cement reports widening net loss in 2019

26 March 2020, Published under Cement News

Egypt’s Sinai Cement has reported a significant widening in its net loss for 2019. The net loss expanded to EGP442.25m (US$28.07m) from an EGP306m loss in 2018. The company has attributed the results to the accumulated effects of the Egyptian pound devaluation on imported fuel and an increase in the prices of electricity and oil.

Dongwu Cement sees 11% increase in revenue for 2019

26 March 2020, Published under Cement News

China’s Dongwu Cement has seen a 10.7 per cent increase in revenue to CNY571.15m (US$80.5m) in 2019, rising from CNY516.04m in the previous year. Profit declined 32.3 per cent YoY to CNY60.7m from CNY89.67m. "As a result of increases in both sales volume and price in China’s domestic cement industry, operating income of cement segment of the group in 2019 increased steadily as compared with ...

FLSmidth suspends financial guidance for 2020

FLSmidth suspends financial guidance for 2020

25 March 2020, Published under Cement News

FLSmidth has suspended its financial guidance for 2020, following the global uncertainty caused by the global COVID-19 pandemic. "The underlying mining and cement industries remain sound but given the day-to-day development in markets around the world, we are currently unable to assess the extent of the impact," said the company in a statement. The company is reporting increasing disrupt...

INC produces record 0.484Mt of clinker in 2019

27 March 2020, Published under Cement News

Paraguay’s Industria Nacional del Cemento (INC) produced 0.484Mt of clinker in 2019, the highest output reported since the fuel conversion project at the Vallemí plant and is among the top 10 recorded since the start of the state company, said INC President, Ernesto Benítez. Mr Benítez said the company is showing signs of recovery, reaching an average dispatch rate of 12m bags of cement in ...

Carthage Cement increases capital with TND206m

25 March 2020, Published under Cement News

Tunisia’s Carthage Cement has closed its capital increase with a value of TND206m (US$70.9m), about 77 per cent of its initial sum (TND268.5m), according to ilBoursa. The operation has been hailed a success by the news service under the current conditions. The capital increase was carried out with Bourse MAC SA as intermediary and served to rebalance the company’s financial structure and lowe...

Sephaku Holdings reappoints executive director

25 March 2020, Published under Cement News

South Africa’s Sephaku Holdings has announced that Kenneth Capes has been re-appointed as an executive director and CEO of Métier Mixed Concrete Proprietary Ltd, with effect from 1 April 2020. Mr Capes’ experience spans the manufacture of ready-mixed concrete to quarrying. He first joined the company’s board as an executive director in 2013, as part of the founding owners of Métier following ...

Fancesa shuts down production due to COVID-19

24 March 2020, Published under Cement News

Bolivia-based cement producer Fábrica Nacional de Cemento SA (Fancesa) has halted its cement production due to the presence of the coronavirus in the country. The information was confirmed by the Head of Communications at Fancesa, Gonzalo Ibáñez, who said that compliance with the national provision for total quarantine also implies the cessation of the marketing units in Sucre and Santa Cruz...

China Shanshui Cement records 20% revenue increase

24 March 2020, Published under Cement News

China Shanshui Cement Group has announced a 20.2 per cent YoY rise in operating revenue to CNY21.48bn (US$3.02bn) for 2019, against CNY17.87bn in 2018. Net profit also increased 24.2 per cent to CNY4.69bn from CNY3.78bn. Sales from the company’s cement segment contributed the largest amount to the results, advancing 31.1 per cent YoY to CNY17.18bn from CNY13.1bn in 2018.

Udaipur Cement of India shuts plant due to Coronavirus epidemic

24 March 2020, Published under Cement News

Udaipur Cement Works Ltd (UCWL) of India has informed Bombay Stock Exchange (BSE) on 23 March  that operations of the company's plant at Udaipur have been temporarily closed untill further notice as per the directions of the State Government and as safety measure against spread of the COVID-19 virus.   A bourse filing of company adds that decision on resuming operations will depend on further...

Fauji Cement's chairman resigns

24 March 2020, Published under Cement News

Fauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Lt Gen Syed Tariq Nadeem Gilani, (Retd) has resigned from his position as director and chairman of FCCL Board with effect from 20 March 2020. The name of new incumbent will be intimated shortly, says a company bourse filling.

Shree Cement to shut all production facilities in Rajasthan

24 March 2020, Published under Cement News

India’s Shree Cement has announced that it is undertaking measures to shut down all of its Rajasthan-based plants until 31 March 2020, or further notice, according to a statement. The news follows the Government of Rajasthan issuing a direction for the closure of all production facilities in the state to control the community transmission stage of COVID-19.

Al Jouf Cement returns to profit

24 March 2020, Published under Cement News

Saudi-based Al Jouf Cement has reported a net profit after zakat and tax of SAR5.3m (US$1.41m) in 2019 when compared with a loss of SAR39.5m in 2018. The company saw sales rise to SAR169.8m in 2019 from SAR137.7m in the previous year. In addition, the cost of sales as well as general and marketing expenses was down.