Cement News tagged: Corporate
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 ...
InterCement sells 52 per cent in Portuguese C+PA to Votorantim
Brazilian producer InterCement has sold a 52 per cent stake in Portuguese cement and building materials maker C+PA to Votorantim. Portuguese construction group Teixeira Duarte still controls 48 per cent in C+PA, , according to Portuguese daily Diario Economico. InterCement, part of Brazilian diversified holding group Camargo Correa, indirectly controls the stake in C+PA via Portuguese cem...
Cemex Latin American Holdings has a weaker first quarter
Cemex Latin American Holdings reported a 2.5 per cent decline in first quarter turnover to US$383.3m, but the EBITDA did improve by 8.1 per cent to US$140.7m. The increase at the trading level was a more modest 1.9 per cent to US$117.5m. After a net interest charge of US$29.4m, the pre-tax profit emerged at US$83.2m. Net debt at the end of March amounted to US$1514m, giving a gearin...
Lafarge sells Ukraine cement plant to CRH
Lafarge is to sell its cement activities in Ukraine to CRH plc for an enterprise value of EUR96m. Lafarge, through its subsidiary Mykolaivtsement, operates a 1.3Mta integrated wet-process works at Mikolaiv in western Ukraine, near Lviv and has a domestic market share of around 12 per cent. The transaction, which is expected to close before year-end, is subject to relevant Ukrainian author...
Vicat advances in Asia and Americas
Vicat's first quarter turnover was ahead by 1.2 per cent to EUR491m, which represents an underlying improvement of 2.7 per cent. Cement turnover was up by 1.8 per cent to EUR304m, with cement shipments advancing by eight per cent to 4.1Mt. Turnover in concrete and aggregates rose by 6.7 per cent to EUR181m as aggregates shipments rose by 10.1 per cent to 4.73Mt and ready-mixed concrete deli...
Dangote Cement net profit boosted by increased capacity
Dangote Cement Plc, Nigeria’s largest cement producer said full-year profit gained 24 per cent attributed to increased capacity improving sales. Net income for the year through December advanced to NGN149.6bn (US$941.8m) from NGN120.9bn earlier, the company said in an e-mailed statement. Revenue rose 24 per cent to NGN298.5bn. Chairman Aliko Dangote, said new capacity accounted for a 20 pe...
Siam Cement Group to lift capacity by 4.5Mta in two years
Siam Cement Group plans to spend US$1.5bn to expand cement production capacity in Southeast Asia by 4.5Mta over the next two years. President and chief executive of Siam Cement Kan Trakhulhoon told the Bangkok Post that the US$400m cement plant in Indonesia is already under construction with Phase 1 expected to come on-stream by 2015. Meanwhile, the Myanmar cement factory is still awaiting ...
Steppe Cement’s full-year profit rises on increased sales and prices
Kazakhstan-based cement producer Steppe Cement Ltd on Wednesday confirmed that pretax profit more than doubled in the year ended 2012 thanks to sales that were up by almost 10 per cent YoY and higher prices. Group revenue rose to US$120.17m for the year compared to US$96.11m in 2011 while pretax profit was US$12.04m compared to US$5.55m the year before. Cement sales increased by 9.8 per c...
Mustehkam Cement and Bestway Cement to merge, Pakistan
Two Pakistan-based cement producers, Mustehkam Cement and Bestway Cement, have informed the Karachi Stock Exchange (KSE) of their intention to merge and operate as a single company. The board of directors of both companies are scheduled to meet on 6 May to approve the amalgamation. Mustehkam Cement has been a subsidiary of Bestway Cement (and part of the Bestway Group) since in 1995. Theref...
Siam Cement first quarter net profit rises 47% YoY, Thailand
Siam Cement reported a 47 per cent is first quarter net profit, mainly due to advances in its cement and petrochemical business. The Thai conglomerate posted a net profit of THB8.8bn (US$805m) for the three months to the end of March 2013, up from THB5.97bn from a year earlier. Its cement and building materials business posted strong domestic demand thanks to a lively construction sector...
UltraTech in talks with JP Associates for Gujarat assets, India
UltraTech Cement is reportedly closing in on a deal to acquire the cement assets of Jaiprakash Associates in the state of Gujarat, India, according to local press reports. "The deal is expected to be sealed before May. The valuation and other critical aspects, such as the indemnity amount, are more or less finalised. We are waiting for one more approval," reported The Economic Times quoting...
Sale of Akmenes Cementas shares blocked by anti-trust regulator
Lithuania’s Competition Council has blocked the sale of a 51 per cent stake in Akmenes Cementas to Concretus Materials, part of the Betoneta Group. The regulator concluded on Monday that the market share, which the potential buyer would obtain after the takeover, would be too large. Shortly after the announcement, Concretus Materials withdrew its request for approval and cancelled the of...
Qatar National Cement Co 1Q13 sales edge ahead
Qatar National Cement Company (QNCC) reported a net profit of QAR118.6m (US$32.6m) for the first three months of this year, slightly ahead on the QAR117.9m recorded in the same period of last year. Earnings per Share (EPS) amounted to QR 2.42 as of March 31, 2013 versus QR 2.40 of the same period in 2012. Qatar National Cement Co (QNCC) is the state’s dominant producer with a 70 per cen...