Cement News tagged: Corporate
Three million shares in Sampyo Cement to be sold
Tongyang Networks Corp says it plans to sell three million shares in Sampyo Cement Co Ltd, a South Korean cement firm, for KRW13.72bn (US$12.8m). Sampyo Cement is a slag cement producer with a cemnt capacity of 11Mta that owns the Samcheok integrated plant producing Portland cement and a grinding plant in Donghae, as well as two slag cement plants in Gwangyang and Busan.
FLSmidth to modernise its Valby HQ offices
FLSmidth is building a new campus in Copenhagen that will be the workplace of more than 1000 people. An agreement signed between FLSmidth and ATP Real Estate marks the first step towards a new, modern campus on the Valby HQ site in Copenhagen. Converting the property into the new campus will involve a full-scale renovation of the historic buildings facing Vigerslev Allé worthy of preservati...
Orient Cement announces 4% revenue increase
India's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period. The results have been partially attributed to weak demand i...
Vicat advances in most areas, other than Egypt and Switzerland
Vicat's 1Q18 turnover showed 3.9 per cent improvement to EUR573m, which represents an underlying advance of 10.8 per cent at constant parameters and exchange rates. The cement turnover grew by 2.5 per cent to EUR290m, as cement shipments advanced by 6.5 per cent to 5.21Mt. Before inter-sector eliminations, the cement turnover amounted to EUR342m, a two per cent improvement. The turnover in con...
Umm Al Qura Cement announces fall in net profit
Saudi Arabia’s Umm Al Qura Cement Co has announced a 40 per cent YoY fall in net profit for the first quarter of 2018, decreasing to SAR10.2m (US$2.72m) from SAR17m, according to Reuters. However, revenue has increased 9.3 per cent to SAR56.5m, compared to SAR51.7m of the year-ago period.
GICA exports first clinker to Europe
The Algerian Industry Ministry said GICA exported its first shipment of clinker to Europe in April. A subsidiary of state-run GICA Group delivered 45,000t. The shipment is part of a contract to export 200,000t to Europe. GICA is expected to export more cement to African and European countries in the near future, the statement noted.
UKQAA appoints new chair person
The UK Quality Ash Association (UKQAA) has appointed Tarmac's Allan Everett as the association's new chair, taking over from Power Minerals' Ivan Skidmore who spent four years in the role. The UKQAA is the UK's leading authority on the use of quality ash in construction and engineering applications and represents a range of members from across the construction supply chain. Allan Everett, ...
Pakistan cement firms see profits fall
Pakistani cement companies continue to report decreases in profits, largely due rises in the cost of sale and other factors in the 9MFY17-18. DG Khan Cement Co Ltd (DGKC) earned a net profit of PKR4.96bn (US$40.4m) in 9MFY18 compared to PKR6.45bn (US$55.6m) in the corresponding period of the previous financial year, representing a 23 per cent YoY drop. Net sales rose to PKR23.37bn from PKR...
Caribbean Cement pays first instalment of asset buyback
Jamaica’s Caribbean Cement Co Ltd (Carib Cement) has paid the first instalment of JMD1.3bn (US$10.50m) on an asset buyback agreement with its parent company, Trinidad Cement Ltd (TCL). The agreement means that Carib Cement has 90 days to pay US$118m to TCL, to reclaim ownership of Kiln 5 and Mill 5 at its facility in Rockfort, Kingston, according to The Jamaica Gleaner. "The initial payment...
Taiwan cement producers forecast profits from Chinese operations
Taiwan and Asia Cement are expecting to experience a profitable year, on the back of price hike in China and increasing pressure on cement manufacturers on the mainland who cannot meet Bejing's stricter environmental regulations. Taiwan Cement Corp is forecast to generate net profit of TWD16.48bn (US$556.1m) for the whole of this year, a 117 per cent surge from TWD7.6bn last year, Taishin Se...
Shree Cement to acquire railway siding operator
The board of India’s Shree Cement Ltd has approved the acquisition of Raipur Handling and Infrastructure Pvt Ltd, a private railway siding operator, for INR590m (US$8.8m). The acquisition will help the company improve the management of goods transportation on the railway network, according to a stock exchange disclosure. While the deal is subject to the approval from railway authorities, it...
Kohat Cement completes grinding mill installation
Kohat Cement Co Ltd (KOHC) has successfully installed a new 105tph cement mill at Kohat in the Khyber Pakhtunkhwa province of Pakistan. KOHC is currently working on a 7800tpd brownfield expansion project that is expected to come on-stream in 1H20. Presently, KOHC has a production capacity of 2.677Mta of cement.
Shree Cement reports 31% increase in net profit
India’s Shree Cement has reported a 31.1 per cent YoY rise in standalone net profit for the quarter ending 31 March 2018, increasing to INR3.99bn (US$60.14m) from INR3.04bn. Net revenue surged 18.1 per cent to INR28.11bn, compared to INR23.80bn of the year-ago period. The cement sector helped boost the revenue, with a six per cent uptick in cement sold. This has been attributed to an increas...
Czech Cement Hranice sees 6% YoY sales rise in 2017
Cement Hranice reported a 6.3 per cent YoY sales increase to CZK1.569bn (US$74.6m) in 2017 from CZK1.476bn in the previous year. The Dyckerhoff-owned Czech producer supplied product with a value of around CZK1.12bn of sales to the domestic market and a further CZK450m represented exports, according to the Czech News Agency. "The year 2017 was characterised by a growth in the volume of sale...
Hail Cement reports 49% fall in net profit for 1Q18
Saudi Arabia’s Hail Cement recorded a 48.9 per cent YoY fall in net profit for the 1Q18, decreasing to SAR4.23m (US$1.13m) from SAR8.28m. The company attributed the results to a decline in prices, drop in demand and strong competition, according to a statement to the Saudi Stock Exchange. Despite this, the profit results were a 6.9 per cent QoQ increase. Additionally, sales rose 9.7 per cent ...
Sibirskiy Cement production stable in 1Q18
Russia’s Sibirskiy Cement produced 473,500t of cement in January-March 2018, maintaining a stable output when compared with the equivalent period of the previous year, according to Esmerk Russian News. Topkinskiy Cement produced 320,100t of cement, Krasnoyarsk Cement 126,800t and Timluysky Cement 26,500t. Analysts reported that cement demand in Siberia fell 2.6 per cent YoY to 670,000t i...