Cement News tagged: Corporate

Meghna Cement on track for mid-2019 VRM start-up

27 March 2019, Published under Cement News

Meghna Cement Mills Ltd says that its expansion project is likely to complete in the mid-2019. The company signed a contract with FLSmidth in 2017 to import equipment for installing a second vertical roller mill (VRM) to increase its capacity to 2Mta at the cement producer's Mongla plant in Bangladesh. The contract for the VRM has been valued at US$15.7m, according to the 2018 company annual...

Arabian Cement posts 24% revenue increase in 2018

26 March 2019, Published under Cement News

Egypt-based Arabian Cement Co, a subsidiary of Spain’s Grupo Bertolin, posted a 23.6 per cent YoY increase in revenue to EUR168m in 2018. Meanwhile, net profit also advanced 7.4 per cent to EUR11.9m for the year. The results show that, despite a depreciation in the Egyptian pound, Arabian Cement has remained profitable. It distributed over EUR10m in dividends in 2018.

Cementos Argos dispatched 16Mt of cement in 2018

27 March 2019, Published under Cement News

Cementos Argos has released its financial figures and strategic milestones of 2018 during the shareholders' annual meeting. Cementos Argos reported a consolidated EBITDA of COP1.54bn (US$491.7m) and a growth of eight per cent. The company dispatched 16Mt of cement and 10.3Mm 3 of concrete generating income of COP8.4bn. Net income was COP178.563m in 2018. Regional summaries US cement dispa...

Cement Hranice records 10% sales rise in 2018

25 March 2019, Published under Cement News

Czech Republic-based Cement Hranice (Buzzi Unicem group) saw its sales rise 10 per cent YoY in 2018 to CZK1.697bn (US$74.59m). Profit increased 15 per cent to CZK513m, compared with CZK443m of the previous year. "A positive contribution to the increase in sales came mainly from the boom of construction in the Czech Republic and from higher supplies to Poland," said Roman Michalcik, board mem...

Ecocem proposes capital restructure and dividend payment

Ecocem proposes capital restructure and dividend payment

25 March 2019, Published under Cement News

Irish cement producer Ecocem is preparing to pay out large dividends, reports the Irish Times. Shareholders at Ecocem are likely to recieve healthy dividends after the group proposed to restructure its capital to allow it pay a dividend of up to EUR5m. The directors said the proposed reduction in Ecocem's capital would create a distributable reserve "to allow for the prospect of the payment o...

LafargeHolcim Maroc appoints new Chairman of the Board

25 March 2019, Published under Cement News

Lafargeholcim Maroc has appointed Ali Fassi Fihri, former chief executive of the National Office for Drininking Water and Electricity (ONEE), to chairman of the board. Mr Fihri, who was dismissed from ONEE by King Mohammed VI in October 2017, now replaces Tarafa Maraouane, who resigned from his position.

Simba Cement set to acquire Kenyan cement company

Simba Cement set to acquire Kenyan cement company

22 March 2019, Published under Cement News

Simba Cement, a subsidiary of Devki Group, has received approval from the Competition Authority of Kenya for the 100 per cent acquisition of West Pokot-based Cemtech Ltd, according to Business Daily Africa. "We are still negotiating with Cemtech and we hope to close the deal soon. We are eager to venture into West Pokot to change its perception and the lives of its people for the better," s...

Buzzi Unicem announces resignation of non-executive director

22 March 2019, Published under Cement News

Buzzi Unicem has announced that Luca Dal Fabbro will be resigning from his position of non-executive director, effective from the end of the board meeting on 28 March 2019. He was appointed on 8 February 2018 in place of Oliviero Maria Brega, who had passed away. Mr Dal Fabbro has decided to leave his position after his name had been indicated for the presidency of Snam SpA by the majority sh...

Cementos Argos helps build MLS stadium in Washington DC

22 March 2019, Published under Cement News

Cementos Argos has helped build the new Audi Field Major League Soccer (MLS) stadium in Washington DC, USA. As over 21,945Mm 3 of concrete was required for the project, Cementos Argos supplied 6000t of its Portland Type I/II Low Alkali cement to its customer’s two DC-based RMC plants from its facility in Martinsburg, West Virginia. Audi Field stadium has a seating capacity of 20,000, along...

Titan Group records turnover of EUR1.4bn in FY18

21 March 2019, Published under Cement News

Titan Group recorded consolidated turnover for 2018 at EUR1490.1m, recording a marginal one per cent decline compared to 2017. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by five per cent to EUR259.7m. Group net profit after minority interests and the provision for taxes reached EUR53.8m, posting a 26 per cent increase compared to 2017. In 4Q18 group tu...

HeidelbergCement's operating line makes progress

21 March 2019, Published under Cement News

Financial guidance for 2019 is for 'solid' or 'moderate' growth in Heidelberg Cement's revenue, EBITDA and EPS, and 'significant' net debt reduction (depending on which report you read). The group's management expects volume increases in all business lines, a tail-wind from energy cost inflation, and further margin improvement from the EUR100m SG&A cost cutting programme, reports Bernstei...

Cemex to sell white cement plant to Çimsa

21 March 2019, Published under Cement News

Cemex has announced that it has reached a binding agreement with Çimsa Çimento to divest its white cement business, including its Buñol plant in Spain, for approximately US$180m. The final agreement is expected to be signed in April 2019, with the closure of the sale forecast for 2H19. The divestment does not include the company's white cement business in Mexico or the investment in USA-based...

Northern Region Cement posts 75% profit fall in 2018

21 March 2019, Published under Cement News

Saudi cement producer Northern Region Cement saw a 75 per cent drop in its net profits to SAR13.09m (US$3.5m) in 2018 from SAR52.95m in the previous year, according to data published on the Saudi Stock Exchange. The company attributed the fall to strong competition in Saudi Arabia and Jordan, which put downward pressure on prices. In the fourth quarter of 2018, profits declined to SAR13.33...

Votorantim acquires New York ready-mix and aggregates business

21 March 2019, Published under Cement News

US-based ready-mix concrete, aggregates and building materials supplier United Materials has been acquired by Votorantim  Cimentos North America. Located in Depew, New York, United Materials has 140 employees and operates four ready-mix plants, one aggregate quarry and two building supply retail outlets in the region. Peter J Romano Jr, executive general manager of United Materials, said the...

Eastern Province Cement reports 35% fall in net profit

20 March 2019, Published under Cement News

Saudi Arabia’s Eastern Province Cement Co has reported a 34.6 per cent YoY profit decline after zakat and tax, falling to SAR70m (US$18.66m) from SAR107m of 2017. The company attributed the decrease to a drop in sales of cement, precast concrete and higher zakat provisions, according to a statement to the country’s stock exchange. In the 4Q18 profit surged 225 per cent YoY to SAR26m, compa...

DG Khan to invest in hotel business

20 March 2019, Published under Cement News

DG Khan Cement has informed Pakistan Stock Exchange(PSX) that an extra ordinary general meeting of board of directors is scheduled to be held on 17 April to transact some special business pertain to invest in Nishat Hotels and Properties Ltd. According to a bourse filing of the company, to consider and if deem fit, the company be and is hereby authorised to further invest upto PKR200m (US$1....