Cement News tagged: Corporate
Al Khalij to start oil well cement production
Al Khalij Cement Company (AKCC), part of Qatari Investors Group, has announced that its Umm Bab plant will produce oil well cement (OWC) Class ‘G’ at Grade (s) HSR, having received a certification from the American Petroleum Institute (API). The API awarded AKCC a three-year licence to apply the API monogram on its products. With this certification, AKCC joins a select list of 11 companies in...
YTL Corp records 11.3% net profit decline
Malaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected...
Cementos Polpaico swings into black in 9M18
Chile-based Cementos Polpaico has reported revenues of CLP121.321bn (US$ 179.8m) in January-September 2018, representing a 25.9 per cent YoY increase. In addition, the company has achieved a rise in net profits to CLP3.15bn, a considerable improvement when compared with losses of CLP2.281bn in the previous-year period. In a year, the cement producer renewed its brand image and presented ...
Dalmia Bharat looks to expand into northern India
India’s Dalmia Bharat has reportedly secured mining rights near Chittorgarh, Rajasthan, and could be planning to construct a 4Mta plant over two phases in the area, according to the Business Standard. The move would mark the company’s entry into the northern market, a region abundant with natural resources. Rajasthan has an estimated limestone reserve of 21,659mt, 12 per cent of the country’...
PPC reports 8% rise in 1H revenues
PPC posted an eight per cent increase in 1HFY18-19 revenues to ZAR5.597bn (US$403.9m) on the back of strong growth in the rest of Africa as the company’s performance in its domestic market of South Africa remains weak. Gross profit fell by 17 per cent to ZAR1.103bn in the six months ending 30 September 2018 from ZAR1.329bn in 1HFY17 while operating profit fell 34 per cent to ZAR507m. However...
Cibao opens new packing and dispatch facility
Cementos Cibao inaugurated a new packing, palletising and cement dispatch plant in Santiago, Dominican Republic on Tuesday. The plant has two complete and fully-automated packing lines, a palletising system and a covered warehouse with the capacity to store 200,000 bags of cement. "It is this principle of hard work, disciplined and with total dedication together with a vocation of service to...
Saudi Engineering Dimensions interested in Bangladesh cement sector
Saudi company Engineering Dimensions has expressed an interest to set up a modern cement factory in the Chhatak upazila of Sunamganj district, Bangladesh, according to New Nation. During a meeting with Secretary-in-Charge of the Industries Ministry, M Abdul Halim, Engineering Dimensions President, Mohammed N Hijji, said Bangladesh’s huge population, domestic demand and skilled workforce have ...
PPC CEO Claassen to retire
South-Africa-based PPC has initiated a process to find a new CEO after the incumbent, Johan Claassen, expressed an interest to take early retirement. Mr Claassen was appointed permanent CEO in February this year after serving as interim CEO for six months following the departure of Darryll Castle.
Ecocem pretax profit declines 38%
Slag cement producer Ecocem Materials Ltd reported a rise in turnover of 9.4 per cent in 2017 to EUR79.4m (US$90.5m) from EUR72.6m in the previous year. Pretax profit decreased by 37.5 per cent to EUR2.5m last year from EUR4m in 2016. Costs increased by nearly 12 per cent YoY to EUR76.5m from EUR68.6m while the company paid EUR335,000 in interest, a sharp rise when compared with EUR147,821m ...
Cemex Philippines shuts down kiln and Davao terminal
APO Cement (Cemex group) in the Philippines has closed its Davao cement terminal and suspended one kiln line at its Cebu plant following the suspension of mining operations at Apo Land & Quarry. The closure means the lay off of 30 staff and cessation of work for 40 per cent of its contractors. These cost cutting measures are in addition to temporary suspensions affecting 30 per cent of its wo...
Lafarge Malaysia records 3Q18 net loss of MYR109m
Lafarge Malaysia recorded a net loss in 3Q18 of MYR109.28m (US$26m) down 160 per cent from MYR42.01m in 3Q17. Revenue fell by 14 per cent YoY to MYR495.1m in 3Q18. The decline in earnings was down to lower cement sale and higher operating expenditure. Higher energy prices, as well as the lower production output and timing of the scheduled plant maintenance put pressure on costs. "The decre...
EAPCC receives backing to sell land assets
Kenya’s East African Portland Cement Co (EAPCC) has received Trade Ministry backing to sell off idle land, which will help the company recoup some of the KES15bn (U$146.3m) it says it needs to avoid a complete shutdown of operations. Betty Maina of the Trade Ministry has said that a Cabinet memorandum is ready for submission to grant the company approval to sell off its assets. Ms Maina also...
Austria's Leube acquires stake in Asamer
Austria-based Leube cement plant has acquired a stake in Asamer, a building materials company based in the same country. The company has acquired a 24.99 per cent stake after the exit of Kurt Asamer from the business, which left the remaining partners with a combined share of 75.01 per cent.
Fletcher building hit by Golden Bay shutdown and Australian residential market
Fletcher Building Ltd's performance has been impacted by trading conditions and a four-week shutdown of subsidiary Golden Bay Cement which cost in the range of NZD8-11m (US$5.4-7.5m). The company has downgraded its full-year EBIT by 10 per cent to NZD20m. "The 10 per cent lower ebit was a reflection of Australian trading conditions, the Golden Bay Cement issue and timing of sales in its New...
Gansu Hengya Cement is the investor behind Samarkand plant
Gansu Hengya Cement Company of China is entering the Uzbekistan cement market. It plans to build a 2.4Mta cement plant in Samarkand, Kattakurgan district. The plant will cost US$420m and the project will be implemented in two stages. The first 1.2Mta kiln line will be erected between 2018-20 at a cost of a US$220m. The second 1.2Mta line will be cosntructed between 2020-23. The works wi...
CRH launches phase three of share buy-back
On 25 April 2018 CRH plc announced its intention to buy back ordinary shares of up to EUR1bn in the following 12 months. Having completed buy back phases one and two, returning EUR700m to shareholders the third buy back phase is now in operation to repurchase ordinary shares for a maximum consideration of EUR100m. The Phase 3 Programme will commence today, 20 November 2018, and will end no la...