Cement News tagged: Corporate
Calicom Industries acquires majority stake in Dandot Cement
Pakistan-based Calicom Industries has agreed to acquire a majority stake in Dandot Cement Co Ltd (DDCL). Under the terms of the transaction, Calicom Industries will acquire control of DDCL and 63,542,787 voting shares, representing 67 per cent of paid up capital.
FLSmidth's new O&M manager sees cement in the fast lane
At first glance, racing high-tech cars at 300km/h and operating cement factories would seem to have little in common. But don’t tell that to Anders Benfeldt, the new head of FLSmidth Operation & Maintenance. Benfeldt sees plenty of parallels between racing supercars and making cement. With a sterling resume that includes senior positions at Burmeister & Wain Scandinavian Contractor, DGtek A/S...
New plant announced for Uzbekistan
A new 1200tpd cement production facility has been announced by Sweden's ABA GTS group to be built in Angren, Uzbekistan. The project is expected to be completed by November 2019. At an event held to lay the foundations, the company recognised the growing need for housing, social and road infrastructure in the country. Therefore, the new plant will assist with the rising demand for building ma...
Saurashtra Cement reports 17% sales increase
India's Saurashtra Cement has reported a net loss of INR37.2m (US$511,786) in the quarter ending 30 September 2018, falling from a net profit of INR100.7m in the year-ago period. However, the company's sales increased 16.7 per cent YoY to INR1.34bn from INR1.15bn.
Najran Cement sees increased 3Q loss
Saudi Arabia's Najran Cement saw its 3Q net loss after zakat and tax widen to SAR-23.7m (-6.32m) from SAR-17.1m in the year-ago period. The company’s 3Q sales fell nine per cent from SAR59.1m in 3Q17 to SAR53.8m in 3Q18.
Arkan's 9M18 results are stable at AED676.9m
Arkan Building Materials Company (ABMC) reported that it achieved a net revenue of AED676.9m (US$184.3m) in 9M18 compared to AED677.6m during the 9M17. The growth in pipes, blocks and dry mortar sales offset the decline in clinker sales. Clinker sales were impacted by stiff competition, cheap imports from Iran and a slowdown in summer construction. Higher production costs also affected ABMC...
Unacem reports 38% rise in 3Q net profit
Peruvian cement producer Unacem has reported revenues of PEN497.9m (US$147.7m) in the 3Q18, down 0.8 per cent from PEN501.8m in the 3Q17. Gross profit remained largely stable at PEN187.1m during the quarter, but operating profit rose seven per cent to PEN128.8m from PEN120.4m in 3Q17. Net profit in 3Q advanced to just under PEN49m, up 38 per cent from PEN35.5m in the year-ago period. In the ...
Udayapur Cement back in production
Following a month-long renovation and upgrade, Nepal’s government-owned Udayapur Cement has resumed production. The renovation was the first in the plant’s 31-year history and cost NPR90m. "We've resumed our operations and have started to send our cement in the market," Surendra Paudel, the factory's general manager said, adding that they'd need to do maintenance in the next 10 years. "If w...
Yanbu Cement 3Q profit slips
Yanbu Cement posted 3Q revenues of SAR153m (US$40.8m), down 11.6 per cent YoY when compared with SAR173m reported in 3Q17. The Saudi cement producer’s net profit (after zakat and tax) edged down from SAR18m in 3Q17 to SAR17m in 3Q18.
Southern Province Cement's net profits fall to SAR3.5m in 3Q18
Southern Province Cement (SPC) reported a net profit of SAR5.3m (US$1.41m) in 3Q18, down 65 per cent QoQ and down 91 per cent YoY. "...with the current economic situation, low construction activities and high competition we don’t believe prices are going up in the near term," Al Rajhi added. In terms of sales, 4Q18 should witness a slight increase in profits for SPC as there are no holi...
Calicom Industries applies to acquire Dandot Cement
Dandot Cement Co Ltd (DCCL) has informed Pakistan Stock Exchange that the company has received a firm intention from Calicom Industries (Pvt) Ltd, Lahore to its acquire control of DCCL and 63,542,787 voting shares (67 per cent of paid up capital) of DCCL beyond the thresholds prescribed under Section 111 of the Securities Act 2016 (the "Act"). This intention was notified to DCCL's board of d...
1QFY19 remains gloomy for cement industry in Pakistan
Pakistan's cement sector net earnings have dropped by 38 per cent YoY to PKR8.224bn (US$62m) in 1QFY19 on the back of a number of factors, including a surge in international coal prices (12 per cent YoY), the devaluation of the Pakistani rupee against the US dollar (18 per cent YoY) and higher fixed costs (depreciation and financial cost) on the account of plant expansion. This obser...
Jindal Steel and Power to enter cement market
Jindal Steel and Power (JSP) plans to establish a 2Mta cement plant near its Angul steel plant in Odisha, India. The company has already purchased the land for the plant, which will be established in an industrial park. JSP is now awaiting for the government to hand over the use of the land. The plant is estimated to cost INR5bn (US$67.7m). JSP will use granulated blastfurnace slag to produ...
Caribbean Cement's debt repayments hurt 3Q18 results
Caribbean Cement has blamed finance costs linked to debt owed to Cemex as well as volatile currency movements for its lower profits in 3Q18. The company's 3Q18 sales amounted to JMD4.5bn (US$33.5m) up seven per cent YoY, but profits fell to JMD305m at the end of September 2018, down from JMD748m a year ago. "The reduction in profit before taxation compared to the same period in 2017 was im...
Confidence Cement to install slag dryer, close Line 1
Bangladesh-based Confidence Cement will install a new slag dryer at its cement plant in Sitakunda to ensure uninterrupted production of the existing Lines 2 and 3. In addition, the company has decided to shut down Line 1, citing high maintenance costs and electricity costs at the 600tpd line.
Kohat Cement expansion works on schedule
The installation of Kohat Cement Co Ltd's new 7800tpd grey cement line is making good progress at the existing plant in the Khyber Pakhtunkhwa province, Pakistan, according to the company's directors' report. Almost 70 per cent of the plant has been shipped by the supplier. Civil and erection works are progressing as scheduled, the 1QFY19 reported added. Presently Kohat Cement has 2.8M...