Cement News tagged: Corporate
Lafarge's 2012 consolidated sales rise on higher prices, emerging markets
Lafarge reported a 3.5 per cent rise in consolidated sales for 2012 driven by price increases across all product lines, higher cement volumes in Latin America and Asia and favourable foreign exchange effects. For this year it sees growth in cement demand with emerging markets continuing to lead the way. The group achieved cost savings of EUR410m in the year, delivering on its cost savings t...
Habesha Cement seeks project funding, Ethiopia
Ethiopia-based Habesha Cement has approached the Common Market for Eastern & Southern Africa’s (COMESA) PTA Bank in Burundi to source financing for its new cement project in Addis Ababa. According to reports in the Fortune, the new loan application comes after the Development Bank of Ethiopia (DBE) reversed a decision to finance more than half Habesha's cement project costs. The 1.4Mta cemen...
Starlinger & Co GmbH opens office in Indonesia
Starlinger has opened an independent regional office in Surabaya, Indonesia, to enhance sales and service support for customers in Southeast Asia. Starlinger, whose headquarters are based in Austria, said in a statement yesterday, that 'PT Starlinger SEA' has been founded in response to the growing woven packaging market in Southeast Asia and is operating as an independent company. The ...
Tasek 4Q net profit falls 71% on pricing pressure, Malaysia
Tasek Corporation Bhd reported a 71 per cent YoY drop in fourth-quarter 2012 net profit, mainly due to a lower performance of its cement division as a result of pricing pressures and increased competition. Net profit in the three months to 31 December 2012 fell to MYR26.09m from MYR44.60m the year before. Revenue, however, fell marginally by MYR1.6m to MYR564.5m due to lower sales of clinke...
Siam City Cement to upgrade and reactivate kiln line, Thailand
Thailand’s second largest cement producer, Siam City Cement Co (SCCC), reported a 14 per cent rise in revenues for 2012 and says it plans to increase production at its Saraburi works. SCCC, part of the Holcim Group, achieved revenue of THB26.4bn (US$883m) in 2012, on the back of strong domestic cement consumption and significant growth in cross-border exports. Net profit rose by 10.4 per ce...
Semen Indonesia set to start construction of new Rembang plant
Semen Indonesia is set to start construction of a new 2.5Mta cement factory in Rembang, Central Java, according to local press reports. “The construction of the plant will be started in the first quarter of 2013 and will go on until the first quarter of 2016,” Dwi Soetjipto told local news portal Liputan 6.com which was later reprinted in the Jakarta Globe. According to Dwi, the civil wo...
Raysut Cement’s 2012 net profit rises 64.1%, Oman
Raysut Cement, Oman’s largest cement producer, reported a 64.1 per cent YoY growth in net profit for 2012 and revenues also increase fuelled by increasing demand. Net profit for the 12 months to the end of December 2012 reached OMR24.5m (US$63.6m) against OMR14.95m reported in 2011 as RCC booked an investment gain of OMR1.36m. Revenues also rose 10.7 per cent to OMR92.8m from OMR83.81m in t...
Quinn and Lagan call off merger plans
Lagan and Quinn Building Products have abandoned plans for their proposed joint venture. Last December, the two companies announced that they had signed a memorandum of understanding which would combine their cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Quinn Tarmac and Lagan Sand were no...
India: JK Lakshmi hit by slower demand, higher costs
JK Lakshmi has reported subdued performance for the third quarter of the current fiscal year due to high freight costs and flat growth in dispatches. Profits declined by 16 per cent to INR41 crore YoY in the quarter ending December 2012 and lower construction activity led to a 2.7 per cent increase in dispatches. Rising diesel and freight costs also negatively affected results and, due t...
Cemex details plans to raise EBITDA to US$4.7bn by 2016
At its 2013 Cemex Day, Cemex set out its ambitious target to increase its EBITDA from US$2.6bn in 2012 to US$4.7bn in 2016 as the company charts its recovery. The plans of the Mexico-based cement major are supported by three main pillars. Firstly, a recovery in volumes accounts for US$1.4bn of the advance. In addition, Cemex intends to be more disciplined on pricing in future, budgeting a US$1...
Vulcan looks for further improvements in 2013
Vulcan Materials' turnover edged up by 0.1 per cent last year to US$2567.3m, marking the second consecutive year of virtually static sales. EBITDA, again little changed, eased by 0.4 per cent to US$423.5m. Excluding exceptional exchange offer costs, the EBITDA increased by 9.2 per cent to US$466.8ms. After a net interest charge 2.4 per cent lower at US$211.9m, the pre-tax loss was again re...
India Cements looks to construct new line in Rajasthan
India Cements is studying the possibility of expanding capacity in Rajasthan to cater for growing demand in the neighbouring states of Gujarat and Madhya Pradesh. Mr N Srinivasan, vice chairman and managing director, India Cements told Business Standard that the company is “examining whether we can expand the capacity at Rajasthan plant". The Rajasthan plant’s current capacity is 1.3Mta ...
Mixed results for Ukrainian producers
Two of Ukraine’s leading cement producers have reported a mixed set of full year 2012 results. Volyn Cement ended 2012 with a net profit of UAH4.032m, according to preliminary data published by Ukrainan News. In 2011, it saw its net revenues up 50.72 per cent or UAH 219.35m to UAH651.838m, comparing with 2010. Volyn Cement is a subsidiary of Dyckerhoff of Germany and operates two integrat...
Taiheiyo wins Bangladesh logo case
Japanese cement producer Taiheiyo Cement Corp has won a court case in Bangladesh for the use of its logo by local cement manufacturers. The Bangladesh District Judge, Dhaka, issued an order on 29 January 2013 stating that the "Defendants Nos 1-4 (Bengal Tiger Cement Industries Ltd and Others) be restrained from using the Trademark and Trade Name of the Plaintiff-petitioner (Taiheiyo Cement ...
Lagan Group responds to threat over proposed merger
The Lagan Group has called in the Police Service of Northern Ireland (PSNI) to investigate the circumstances surrounding the receipt of a package containing a bullet which was addressed to the company’s Chief Executive, Kevin Lagan, the company said in a statement. Lagan Cement Group recently signed a memorandum of understanding with Quinn Building Products that may lead to a joint venture ...
Temasek Holdings in line for Lafarge India stake?
Temasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise m...