Cement News tagged: Corporate
Vulcan Materials cement shipments improve, Jan-March 2013
Leading US aggregates producer Vulcan Materials' first quarter turnover was a mere 0.4 per cent ahead at US$538.2m higher and the EBITDA, which had recovered by 36.4 per cent a year ago, came off by 33.5 per cent to US$27.9m. At the trading level the seasonal loss increased by 8.2 per cent to US$50.1m. After a net interest charge that was 0.9 per cent higher at US$52.8m, the pre-tax loss em...
Cementarnica Usje 2012 net profit falls, Macedonia
Macedonia’s sole cement producer Cementarnica Usje said its consolidated net profit fell to MKD1.32bn (EUR21.4m) in 2012 from MKD1.92bn a year earlier. Sales revenue fell 18 per cent to MKD3.76bn last year while operating profit decreased MKD1.28bn from MKD1.92bn. Despite Macedonian cement demand made solid gains in 2011 when it advanced 24 per cent to 0.82Mt from 0.66Mt the year before. Ho...
Increased capacity boosts Fauji Cement's nine-month profit, Pakistan
Pakistan-based cement producer Fauji Cement Company reported a 26 per cent rise in volumes for the first nine months of FY13 boosted by its new production line. Rising net retention prices helped the company record topline growth of 56 per cent to PKR11.6bn against PKR7.5bn in the comparative period of last year. The company said that revenue per ton rose by 24 per cent to PKR6311 compared to...
Dangote sees strong start to second quarter, Nigeria
Nigeria’s largest cement producer, Dangote Cement, has said strong demand in April is likely to help boost second-quarter revenue to NGN98.5bn (US$623.3m). However, the start-up of its long-awaited plant in Senegal is facing further delays due to land issues. Dangote said in a statement that pretax profit is expected to reach NGN50.6bn (US$320m). First-quarter net income rose 81 per cent to ...
Saudi cement producers urged to maintain reserve supplies
The government of Saudi Arabia is urging cement companies to maintain a strategic stockpile of cement to prevent future shortages. A directive to this effect was issued by the Commerce and Industry Minister Tawfiq Al-Rabiah, according to local press reports. Each company has has been asked to build up a strategic reserve (equaling a company’s two-month output) in addition to regular market ...
Barclays lowers China's 2013 pricing forecasts
Barclays has reduced its forecasts for cement prices in China this year to +2 per cent from the previous +5 per cent, according to reports by Dow Jones. It has therefore cut its 2013 earnings per share estimates for cement companies by 1-20 per cent to reflect the lower price realisations, which will be partly offset by lower coal prices and higher sales volumes estimates. Barclays says that ...
Lucky Cement's nine-month net profit ahead, Pakistan
Lucky Cement, has reported a 49 per cent YoY rise in net profit for the first nine months of FY13 as Pakistan’s largest cement producer by capacity is boosted by higher prices. For the nine month period ending March 2013, the company reported a profit of PKR6.98bn. The company's local cement dispatches rose 2.8 per cent YoY to 2.77Mt while export sales declined by 1.1 per cent YoY to 1.66Mt...
Baring Asia in talks with Lafarge India for minority stake
Private equity firm Baring Asia is said to be in advanced talks with Lafarge India to invest about US$240m for a minority stake, according to reports by Reuters. The deal is likely to be announced soon, two sources with direct knowledge of the deal told Reuters. Lafarge is raising capacity of its Indian arm to fund the expansion, according to one of the sources. Local press say that the stake...
Cementos Yura opts for another Loesche mill, Peru
Peruvian cement producer Cementos Yura has placed an order with Loesche America Inc for a clinker/additives grinding plant to installed at its Arequipa plant, Peru. Based on good and long-term experience with an existing Loesche Mill Type LM 56.2+2 C/S, Yura has once again selected this type of vertical roller mill to be installed at the plant, which is situated 2600m above sea level. The mil...
Oman Cement Company's net profit boosted by higher demand
Oman Cement Company (OCC) achieved a 34.89 per cent advance in net profit as growth in government spending for infrastructure projects drives cement demand. The Sultanate's second-largest cement producer said net income rose to OMR6.94m (US$18m) for the first quarter of 2013. Sales revenue also rose 12.07 per cent to OMR15.65m from OMR13.96m a year earlier. Production soared by 17.24 per ...
BBMG Corporation to acquire stake in Hebei Taihang Xuaxin, China
BBMG Corporation has entered into an agreement to acquire a 66.67 per cent stake in Hebei Taihang Xuaxin Building Materials Co from BBMG Group Company Ltd. The transaction is valued at CNY131.88m (US$21.15m) in cash and will be paid by BBMG to BBMG Group Company within 15 days after the date of the equity transfer agreement.
Cementos Pacasmayo 1Q13 cement sales rise 6.5 per cent
Peruvian cement producer Cementos Pacasmayo reported a sales increase of 6.5 per cent in the first quarter of 2013. Net income rose 13 per cent in the first quarter to PEN45.1m compared to PEN39.9m (US$17m) in the same period of last year. Cement EBITDA rose by 15.1 per cent in the three months to the end of March 2013 reaching PEN84.5mm compared to PEN73.4m in 1Q12. Consolidated adjusted EBI...
Lipetskcement increases first-quarter output, Russia
Lipetskcement, part of the Eurocement Group, reported a 25 per cent increase in production during the first quarter of 2013, the company announced in a statement. The company produced 164,000t of cement in the three months to the end of March 2013, with the production of CEM 1 32.5 N being six times higher than the first quarter of 2012. The production of bagged cement in 1Q13 rose by 36 per...
Cemex first quarter sales fall 8% in 1Q13
Cemex' first quarter turnover declined by 5.3 per cent to US$3318.6m, while the EBITDA came off by 8.1 per cent to US$521.1m. Volumes were ahead in the USA and in the Philippines, but declined in most other markets. The trading profit was off by just 0.5 per cent to US$239.1m. The net interest charge increased by 9.7 per cent to US$360.7m, giving an underlying pre-tax loss 33.3 per cent hig...
GCC posts quarterly first quarter net loss, Mexico
Mexican cement producer Grupo Cementos de Chihuahua (GCC) posted a net loss of MXN98.6m (US$8.1m) in 1Q13 down from MXN109m in the same period of last year. Unfavourable winter weather conditions in the US, the firm's largest market, and the peso appreciation against the US dollar negatively impacted the 1Q13 top line, with sales decreasing to MXN1.44bn from MXN1.5bn a year earlier. Operati...
South Cement to issue CNY1.5bn bills, China
South Cement has said it plans to issue CNY1.5bn (US$243m) in short-term bills with a maturity of 365 days in the interbank market on 2 May 2013 to repay bank loans and replenish the company's working capital. The bills will be issued at face value and the coupon rate determined in the process of book building, the company said in a statement. Both value and payment due date is set on 3 May ...