Cement News tagged: Corporate

East African Portland Cement withdraws dismissing workforce notice

12 August 2019, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) has withdrawn the notice about the plan to dismiss its workforce of 800, saying it would make a further statement about restructuring the company. "(The) notice has been withdrawn," Acting Managing Director, Stephen Nthei said in a letter addressed to the Kenya Chemical Workers Union and seen by Reuters. "A fresh replacement notice on the inten...

UltraTech Cement announces 91% rise in consolidated profit

15 August 2019, Published under Cement News

India’s UltraTech Cement Ltd has announced a 91 per cent YoY growth in consolidated net profit to INR12.08bn (US$171.2m) for the quarter ending 30 June, compared with INR6.31bn in the year-ago period. Net sales increased 15 per cent to INR100bn, while EBITD surged 61 per cent to INR28.4bn from INR17.6bn. Standalone net sales rose 15.5 per cent YoY in the 1QFY19-20, reaching INR96.48bn from I...

Loma Negra sees 2% drop in 2Q revenue but EBITDA up

15 August 2019, Published under Cement News

Argentina-based Loma Negra reported a 2.2 per cent YoY drop in 2Q net revenue to ARS7.47bn (US$165m) while consolidated adjusted EBITDA increased 7.1 per cent YoY to ARS1.929bn, according to Wall Street Online. The rise in EBITDA was attributed mainly to the cement, masonry and lime segment in Argentina but was also supported by growth across the company’s other key segment. Moreover, it was...

Saurashtra Cement posts rising 1Q net profit

09 August 2019, Published under Cement News

India-based Saurashtra Cement reported a consolidated revenue from operations of INR1.51bn (US$21.4m) in the 1QFY19-20 (ended 30 June 2019), down 10.1 per cent from INR1.68bn in the year-ago period. The company’s 1QFY19-20 net profit jumped to INR156.1m in the April-June 2019 quarter from INR49.4m in the previous-year’s equivalent quarter.

Al Jouf Cement reports 2Q profit

Al Jouf Cement reports 2Q profit

09 August 2019, Published under Cement News

Saudi cement producer Al Jouf Cement posted sales of SAR46.2m (US$12.3m) in 2Q19, representing a 70 per cent rise when compared with 2Q18 when sales reached SAR27.2m, according to Reuters. Net profit after zakat and tax in the second quarter rose to SAR0.1m, a significantly improved performance when compared with 2Q18 when the company posted a loss of SAR13.7m. The rise in profit has been at...

LafargeHolcim and Solidia Technologies launch first commercial venture

09 August 2019, Published under Cement News

LafargeHolcim and US-based Solidia Technologies ® have announced its first commercial venture to supply EP Henry’s paver and block plant in Wrightstown, New Jersey, with a reduced-CO 2 cement. Over the past six years, the two companies have developed an innovative technology that will reduce the environmental footprint of precast concrete and validate Solidia Cement™ at a commercial scale,...

East African Portland Cement to lay off all workers

East African Portland Cement to lay off all workers

09 August 2019, Published under Cement News

Kenya-based East African Portland Cement Co (EAPCC) has announced plans to lay off its workers due to the company’s financial issues, according to Standard Digital. However, employees will be encouraged to apply for subsequently reconfigured positions. “The company is now faced with the need to restructure its operations, which will include a staff rationalisation programme to balance our run...

FLSmidth sees 16% increase in revenue for 2Q19

08 August 2019, Published under Cement News

FLSmidth’s order intake for the second quarter of 2019 reached DKK4.95bn (US$751.5m), a modest decrease of two per cent YoY. Orders included a large cement plant in Morocco and a significant mining order in Australia. The order backlog stood at DKK16.76bn by the end of the quarter, up 16 per cent from the 2Q18. Revenue increased 16 per cent to DKK5.47bn, attributed to the strong order intak...

Yura records 43% decline in 2Q19 profit

08 August 2019, Published under Cement News

Peru’s Cementos Yura (Gloria Group) has reported a 43 per cent YoY fall in profit to PEN56.5m (US$16.67m) for the second quarter of 2019. Cement sales were down 0.3 per cent to PEN231.3m in the 2Q19, while dispatches to external markets fell 22 per cent. Production between April-June reached 602,031t, decreasing five per cent compared to the year-ago period. In particular, clinker production...

India Cements plans INR14bn plant project

08 August 2019, Published under Cement News

India Cements is reportedly in the process of acquiring land in Madhya Pradesh for a new plant project which would take its total capacity to 20Mta, according to The Economic Times. The company has already acquired a company with an existing mining lease to use its limestone reserves. The project is worth around INR14bn (US$197m), with the producer expected to compete the final land investme...

Dangote Cameroon sees 7% sales drop

08 August 2019, Published under Cement News

Dangote Cameroon has posted a 7.1 per cent drop in sales in the 1H19 when compared with the 1H18. "Our 1.5Mta clinker mill in Douala sold about 0.6Mt of cement in the first half of 2019, down 7.1 per cent from 0.64Mt sold in the first half of 2018. We estimate that our market share was 40 per cent during the period, "says Dangote. "The decrease in our sales can be attributed to persistent se...

Eagle Cement Corp announces 44% rise in net profit

08 August 2019, Published under Cement News

Philippines-based Eagle Cement Corp has announced a 44 per cent YoY rise in net profit for the first six months of 2019 to PHP8.2bn (US$156.7m), while also reporting a 21 per cent increase in sales volume and higher selling prices. In the 2Q19 net income surged 39 per cent to PHP1.7bn and revenues showed 22 per cent growth to PHP5.1bn. "We will continue to leverage on the growing [demand...

Sagar Cements records 22% rise in production for July

07 August 2019, Published under Cement News

India’s Sagar Cements has seen a 22.3 per cent increase in consolidated cement production to 281,597t in July 2019, compared with 230,193t in the year-ago period. Standalone production rose 21.2 per cent to 200,808t from 165,629t. Consolidated cement sales also surged 25.1 per cent to 274,822, against 219,748 in July 2018.

Sumitomo Osaka sees 3% fall in net profit

07 August 2019, Published under Cement News

Japan’s Sumitomo Osaka Cement has announced a 2.5 per cent YoY fall in net profit to JPY2.1bn (US$19.7m) for the quarter ending 30 June. Sales were down by 2.1 per cent to JPY58.9bn while pretax profit decreased 10.6 per cent to JPY3bn. However, operating profit saw a 3.5 per cent increase to JPY2.8bn. The company has forecast a 53.9 per cent rise in net profit to JPY12bn for the full fiscal...

GCCA announces annual conference

07 August 2019, Published under Cement News

The Global Cement and Concrete Association (GCCA) has announced that ‘Innovation in Focus’ will be the theme of its annual conference, which takes place at the Sofitel Singapore City Centre on 10 October 2019. "This conference is an important opportunity for the global industry to come together and discuss some of the opportunities and challenges we face. With its key focus on innovation, th...

Rock Hard Cement wins classification ruling

07 August 2019, Published under Cement News

Barbados-based Rock Hard Cement Ltd has won a final court ruling regarding the classification of its cement and therefore its related tariff. "Today’s judgment settled the dispute as to whether Rock Hard Cement ought to be classified as ‘Building cement (grey)’ and be charged a CARICOM tax of 15 per cent when imported into the region, or as ‘Other hydraulic cement’ in which case a levy of 0...