Cement News tagged: Corporate
Holcim’s cement sales in Romania down 0.7% in 1H13
Swiss building materials producer Holcim’s cement and clinker sales fell 0.7 per cent in the first half of the year in Romania, compared to the first six months of 2012, while the domestic cement prices were up 3.1 per cent, according to the company’s latest report. The company’s volume of aggregates sales in 1H13 dropped by 27.7 per cent YoY in Romania, while the domestic aggregates prices d...
Anhui Conch first-half net profit rises, China
Anhui Conch Cement Co Ltd reported a net profit of CNY3.06bn (US$500.6m) in the first half of 2013, a rise of 4.89 per cent rise compared to the same period of the year before. The company's gross profit margin rose 1.40 percentage points to 28.49 per cent in the period, due mainly to lower raw material cost. Operating revenue rose 14.73 per cent YoY to CNY23.59bn in the first half, boo...
Najran Cement appoints new board chairman, Saudi Arabia
Najran Cement has approved the appointment of Mohammed bin Mani bin Sultan Aba al-Ala as board chairman and managing director, with a three-year term. The company also named Daifullah al-Ghamidi deputy board chairman.
Holcim profit leaps, sales below expectations
Holcim’s first-half results were boosted by higher net income but sales disappointed, particularly in India, the group's key market in Asia.
Taiheiyo Cement ordered to close Nanjing plant, China
Taiheiyo Cement Corp has been ordered by the Chinese city of Nanjing to close a local production facility by the end of next year due to pollution concerns. Shutting the Nanjing plant would reduce Taiheiyo Cement's Chinese output capacity by 30-40 per cent, The Nikkei reported on Wednesday. Japan's number one cement producer will ask the city to reconsider. If Taiheiyo Cement does not fo...
Asia Cement first-half profit surges, China
Asia Cement reported a surge in profit attributable to shareholders for the six months ended 30 June 2012 thanks to an increase in the sale cementitious products and declining coal prices. Profit rose by 110 per cent YoY to CNY256m (US$41.9m). Revenue rose 3.4 per cent to CNY3.18bn and gross profit was CNY584m, representing a gross profit margin of 18 per cent.
Fujairah sales fall in first-half 2013
UAE-based producer Fujairah Cement Industries reported a net loss for the first six months of 2013 due to declining sales. The company registered a drop of AED3.6m (US$968,0000) for the period as its sales slipped by over six per cent to AED287.2m (US$78.2m), compared to AED307m (US$83.6m) in the same period last year. Fujairah Cement has a clinker capacity of 3.31Mta and operates a Thyss...
Holcim Philippines reports strong 2Q net profit
Holcim Philippines reported better-than-expected rise in second quarter net profit on the back of seasonal demand and effective cost controls. It is now preparing to restart its Batangas grinding unit next month to better serve expected rises in demand from the public and private sector. Net income rose 33.88 per cent to PHP1.62bn (US$37m) in the April-June 2013 period from PHP1.21 as constru...
India Cements reports fifth consecutive quarterly drop in net profit
India Cement has reported its fifth consecutive quarterly drop due to forex losses and a lower pricing environment. Net profit for the first quarter of the current fiscal declined by 72 per cent to INR16.82 crore. N Srinivasan, vice chairman and managing director, India Cements Ltd said: “The exchange translation charges due to unprecedented rupee depreciation impacted to the tune of INR27 c...
Votorantim pulls IPO plan, Brazil
Votorantim Cimentos SA withdrew plans for its multibillion dollar initial public offering on Monday citing poor market conditions. Votorantim had postponed its IPO plans in July, saying at the time that it would try again in September. However, it has deffered the option once again. "The IPO continues to be the company's plan and we will continue to monitor the evolution of the capital marke...
Bids for Cement Corp of India units invited
SBI Capital Markets has invited global bids to sell state-run Cement Corp of India Ltd's four non-operating units through an e-auction process. The company has put its 400,000tpa works in Akaltara (state of Chhattisgarh), and 198,000tpa plant at Kurkunta, (Karnataka), up for sale at a reserve price of INR1.83bn and INR2.6bn, respectively. Its 380,000tpa Mandhar unit in Chhattisg...
Dalmia in advanced stage of new plant commissioning, India
Dalmia Cement is in advanced stages of commissioning its new cement plant at in north Karnataka, as the company plans to lift capacity to 19Mta. The new 2.5Mta cement works in Yadawad, near Belgaum, will be commissioned by February next year and forms part of the Damia Bharat Group’s plan to expand its presence in the north. "Three years ago, we were considered as predominantly south-based ce...
Credit Suisse lifts target price for TCC International
Credit Suisse lifted its target price for Taiwan Cement Co (TCC) International to HK$1.8 from HK$1.7 and upgraded the stock to "neutral" from "underperform". The research house said TCCI sees improving cement pricing in the second half of this year, but also expects administrative cost may revert as well. Management commented that Guangdong has increased prices by CNY40-50/t (US$6-8) since Ma...
CRH to acquire Sree Jayajothi Cements, India
CRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR7...
Colombia’s cement price rose 8% in 1H13
In 1H213, cement prices in Colombia rose eight per cent, well above the country’s inflation rate of 1.73 per cent in the period, according to a report in El Tiempo. The price also compares unfavourably with other Latin American countries. Based on sales at retail stores, Colombian customers can pay up to US$250/t in a city away from any cement plant, while in Peru this price is US$158/t and i...
Suez Cement six-month net profit ahead, Egypt
Suez Cement has reported a 34 per cent increase in first-half net profit thanks to cost reduction and efficiency improvement efforts. In the second quarter of 2013, net sales of Suez Cement Group of Companies reached EGP1302m (US$, up 11 per cent YoY while recurring EBITDA rose 18 per cent YoY to EGP315m. Net profit increased to EGP168m. Grey cement sales were down by four per cent to “c...