Cement News tagged: Corporate
JK Lakshmi upgrades capacity for increased demand
India’s JK Lakshmi Cement Ltd has recently upgraded the capacity at two grinding units in Gujarat to supply the growing demand in the region. The units in Kalol and Surat supply cement for both Gujarat and Maharashtra. "Our combined capacity at both these locations has been raised to about 2.5Mta from earlier 1.5Mta," said Shailendra Chouksey, whole-time director, JK Lakshmi Cement. "We ha...
Bamburi Cement records 78% net profit decline in 1H18
Kenya’s Bamburi Cement has posted a 78.2 per cent YoY drop in net profit for the half-year period ended 30 June, falling to KES399m (US$3.96m) from KES1.83bn. Revenue remained flat at KES18.55m, compared to KES18.58bn of the previous year. The company noted the effects of a contracting market in Kenya on its performance. Meanwhile, in Uganda, a combination of lower sales due to production c...
Two Nigerian producers to raise capital funding of NGN250bn
Nigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate pur...
Lafarge Malaysia invests in new baghouse
Lafarge Malaysia Bhd has installed a new MYR20m (US$4.8m) baghouse at its Kanthan cement plant following the installation of a MYR180m vertical roller mill in 2016. The new baghouse replaces the old electrostatic precipitator to reduce dust emissions at the plant. "The bag filter is cleaned at pre-programmed intervals and the dust particles are channeled into hoppers to be recirculated into t...
Holcim Mexico to raise prices of bagged cement
Holcim Mexico has announced that the prices of its bagged cement products will increase by seven per cent from 1 September. The hike has been attributed to the high volatility in the exchange rate as well as rising costs, with energy prices rising up to 22.9 per cent. The company has reportedly implemented mitigation measures, such as increasing process efficiencies, to reduce the impact of ...
Boral posts 49% net profit surge in FY18
Australia’s Boral has announced a 49 per cent YoY surge in in net profit to AUD441m (US$322.45m) for the FY18 ended 30 June. Sales revenue increased 34 per cent to AUD5.9bn, while EBITDA advanced 47 per cent to AUD1.06bn. The significant earnings growth has been attributed to the acquisition of Headwaters Inc in the US, alongside Australia’s booming construction market, according to a press ...
Lafarge Cooktown plant celebrates 50 years of production
Lafarge Cement Ireland is celebrating 50 years of clinker and cement manufacturing at its Cookstown Plant. Launched in 1968, the plant is now responsible for producing a substantial volume of cement each year, employing almost 100 staff both in Cookstown and at the business’ cement terminal in Belfast. In 2015, the Lafarge Cement business was acquired by Aggregate Industries as part of th...
Cherat Cement’s FY18 profit increases by 9%
Cherat Cement Co Ltd (CHCC) of Pakistan earned a net profit of PKR2.13bn (US$17.3m) in FY18, up by nine per cent YoY, as compared to PKR1.96bn in the same period last year. Net sales grew substantially by 49 per cent YoY to PKR14.39bn largely driven by full year operations of production line II, inaugurated in January 2017. This was despite the industry's failure to pass over enhanced FED, u...
ThaiGroup receives land for Minh Tam plant construction
The People’s Committee in Binh Phuoc, Vietnam, has decided to hand over 430,612m 2 of land to ThaiGroup JSC for the construction of the Minh Tam cement plant. ThaiGroup initiated the project in early-2017 by acquiring it from Mien Dong JSC, which was facing financial difficulties. The plant represents a total investment of VND12trn (US$515m) and is expected to eventually operate at a cement...
Prime Cement's new plant begins construction
Construction of Prime Cement’s new plant in Musanze, Rwanda, began on Thursday. The cement manufacturer, part of Milbridge group, plans to complete the works within the next 12 months. The facility is expected to produce 0.6Mta of cement during the first phase and increase to 1.2Mta in the second. "Rwanda is a stable country with a very stable political situation, the economy is growing very...
Ugandan President opens new Simba grinding plant
Uganda's President, Yower Museveni, has opened the Tororo grinding plant of Simba Cement and during the opening the owners of the factory announced that they would produce the lowest-priced cement in the country. Plant Manager, Guru Narendra Ravel, said the 50kg bags of cement produced at the Tororo plant would be sold at UGX25,000 (US$6.64), well below the average price of UGX32,000 (US$8....
Lafarge Malaysia invests MYR80m to boost efficiency
Lafarge Malaysia Bhd has allocated MYR80m (US$19.48m) to optimise its operational efficiency, which includes the installation of bag filters at all three of its integrated plants in the country. At the installation of the filter at the company’s Kanthan facility, Mario Gross, CEO, noted that it is replacing the current ESP system as a more efficient alternative. "It also captures dust part...
EAPCC's plan to raise funds relies on court outcome
Kenya's East African Portland Cement Co (EAPCC) has announced that its plan to sell land to raise much-needed operational capital is dependent on the outcome of certain court cases. "We have all our land titles intact in the bank. They are under lock and key and those claiming share of Portland land assets need to understand this," said Peter ole Nkeri, managing director, EAPCC. The bailout...
Fauji Cement's net profits rise 31 per cent in 4Q18
Fauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post r...
Cahya Mata Sarawak reports 1H18 revenues of MYR750.3m
Malaysia-based Cahya Mata Sarawak reported 1H18 revenues were up at MYR750.3m (US$183m) from MYR650.2m in 1H17. The 2Q18 period saw revenues of MYR395.3m up from MYR342.5m in 2Q17. Profits before tax stood at MYR144m in 1H18 up from MYR100.3m in 1H17. Profits for 1H18 were MYR143.9m up from MYR100.3m in 1H17m. The 2Q18 profit amounted to MYR100.4m up from MYR68.2m in 2Q17. Profits attrubut...
Titan to gain control of Adocim Joint venture
Titan has reached an agreement to increase its participation in its joint venture in Turkey. Adocim Cimento Beton Sanayi ve Ticaret A.S. is a 50-50 per cent joint venture established between the Cem Sak Group and Titan in 2008. It consists of a modern cement plant with 1.5Mta cement capacity, a 0.6Mta grinding unit and three ready-mix concrete units. Titan has reached an agreement with its p...