Cement News tagged: Corporate

Votorantim Cimentos sells 75% share in Shree Digvijay Cement

15 November 2018, Published under Cement News

Votorantim Cimentos has agreed the sale of its 75 per cent stake in Shree Digvijay Cement Co Ltd (SDCCL) to Indian private equity firm True North. The sale requires the completion of a mandatory open offer to the minority shareholders of SDCCL. The acquisition would add to True North's other investments in the building materials sector namely, RDC Concrete (“RDC”), a manufacturer of ready-mix...

Star Cement records 45% rise in net profit

13 November 2018, Published under Cement News

India’s Star Cement Ltd has reported a 28.7 per cent YoY rise in net sales to INR3.62bn (US$49.98m) for the 2QFY18-19 ended 30 September, from INR2.81bn of the year-ago period. Net profit advanced 45.4 per cent to INR381.7m from INR262.6m. In the first six months of the FY18-19, net sales increased 20.2 per cent YoY to INR8.81bn. However, net profit fell 4.6 per cent to INR1.29bn, compared wi...

Gulf Cement 9M profit down

13 November 2018, Published under Cement News

UAE-based Gulf Cement reported a 9.3 per cent fall in revenues in the 9M18 to AED371.7m (US$101.2m) from AED409.8m in the year-ago period. Net profit fell 95 per cent from AED33.1m in the 9M17 to AED1.6m in the first nine months of 2018. The company attributed the decline in its net profit due to rising coal and gas prices. In addition, increased supply to the market resulted in falling sel...

Fujairah Cement Industries (FCI) sees fall in profit

13 November 2018, Published under Cement News

Fujairah Cement Industries (FCI) saw its third-quarter profits fall by 95 per cent to AED0.3m (US$ 81,688) in the 3Q18, a sharp drop from AED6.2m reported in the year-ago period. In the January-September period, FCI reported profits of AED12.2m, down 55 per cent from AED27.1m in the 9M17. Earlier this year, the company had posted 1H profits of AED11.9m, representing a 43 per cent YoY drop.

Titan is looking to move its main quote to Brussels and the management to Cyprus

Titan is looking to move its main quote to Brussels and the management to Cyprus

15 November 2018, Published under Cement News

In the first nine months of 2018,Titan's turnover declined by 1.8 per cent to EUR1101.9m and EBITDA was down by 8.2 per cent to EUR196.9m, while in the third quarter EBITDA was ahead by 3.2 per cent to EUR74.7m. The pretax profit advanced by 11.5 per cent to EUR65.9m and the net attributable profit recovered strongly, rising by 51.8 per cent to EUR50.2m in the 9M18. Net debt at the end of Sept...

Eagle Cement sees 6% rise in 9M net profit

15 November 2018, Published under Cement News

Eagle Cement Corp reported in the 9M18 net sales of PHP12.2bn (US$229.2m), up nine per cent YoY from PHP11.2bn in the 9M17. Strong sales and stable prices supported the rise in net sales. Net profit of the Philippine cement producer advanced by six per cent to PHP3.5bn from PHP3.3bn in the year-ago period. Despite higher input costs, EBITDA rose by three per cent while margins increased by...

Expansion plans of Fauji Cement are underway

Expansion plans of Fauji Cement are underway

12 November 2018, Published under Cement News

Fauji Cement Company Limited (FCCL) has informed Pakistan Stock Exchange (PSX) that the 10th Extraordinary General Meeting (EOGM) of FCCL will be held in  Islamabad on 29 November 2018 to obtain approval for a greenfield project, elect company directors for a period of three years from 13 December 2018 to 12 December 2021and other business. According to annual report for the year 2018, the...

India Cements reports 94% YoY drop in net profit

12 November 2018, Published under Cement News

India Cements posted a net profit of INR14.3m for the 2QFY18-19, ended 30 September 2018. This represents a 94 per cent fall when compared with a net profit of INR23.67m in the same quarter of the previous year. However, total income rose by 9.1 per cent at INR13.908bn in the second quarter of the 2018-19 financial year. In 2QFY17-18, total income reached INR12.749bn.

Jagdamba Cement accelerates cement expansion

13 November 2018, Published under Cement News

Nepal's cement industry has stepped up construction of its new production units with Jagdamba Cement planning to build on its current market share as it expands its production capacity. In addition to its existing cement plant in Lumbini corridor, Jagdamba Cement is setting up a further unit in the eastern part of Bhairahawa, representing an investment of NPR3bn (US$42.6m). The new plant will...

ASEC extends O&M contract at Al-Minya Cement to 2021

12 November 2018, Published under Cement News

ASEC, the leading cement operator in Africa and the Middle East, announced today the renewal of its technical management agreement with Al-Minya Cement Company for a new term until 2021. The state of-the-art plant, located in Upper Egypt, has an installed clinker capacity of 1.95Mta. Since the commencement of operation in 2013, ASEC has been entrusted with the full technical management of the...

Cementir benefits from the consolidation of US activities

09 November 2018, Published under Cement News

Cementir's turnover for the first nine months of 2018 rose by 4.8 per cent to a restated EUR893.18m thanks to the full consolidation of Lehigh White Cement from the second quarter of this year and a higher Asia-Pacific turnover, but the eastern Mediterranean contribution was lower. EBITDA improved by 5.2 per cent to EUR163m and the trading was ahead by 6.2 per cent to EUR106.4m. After a net fi...

Aliko Dangote has targeted Kenyan producer believed to be ARM

09 November 2018, Published under Cement News

Dangote Cement is understood to be in talks to buy the troubled Kenyan cement maker ARM. This follows an interview of Aliko Dangote by Bloomberg News in which he said: "There is a company which... has operations in Tanzania, Kenya and Rwanda and we are talking to the company to see if we can take it over," said Mr Dangote. ARM was not named in the discussion, but it is the only cement pr...

Loma Negra reports 47% 3Q revenue growth

09 November 2018, Published under Cement News

Argentina-based Loma Negra has posted a net revenue of ARS6.131m (US$192m), up 47.2 per cent YoY in the third quarter of 2018. The company has attributed the increase to growth in its cement, masonry and lime business in Paraguay and its concrete operations in Argentina. In Argentina the company’s cement, masonry and lime reported a 41.5 per cent increase in net revenues due to a favourable ...

Taiwan Cement Corp sees 40% revenue hike in October

09 November 2018, Published under Cement News

Taiwan Cement Corp reported a 40.1 per cent surge in revenues in October to TWD11.753bn (US$381.9m) from TWD8.388bn in October 2017. Revenues advanced by 31.1 per cent to TWD101.411bn in the first 10 months of 2018 when compared with January-October 2017 revenues of TWD77.339bn.

Lucky Cement sees 16% YoY rise in October revenues

09 November 2018, Published under Cement News

Taiwan-based Lucky Cement posted a 15.6 per cent YoY increase in revenues to TWD300.24m (US$9.6m) in October 2018 from TWD259.826m in the year-ago period. Revenues fell by 3.2 per cent to TWD2.761bn between January-October 2018 from TWD2.853bn in 10M17.

BUA Cement announces completion Okpella plant

09 November 2018, Published under Cement News

BUA Cement has announced the completion of its new 3Mta cement plant in Okpella, Edo state, Nigeria. Its output is expected to be delivered to the southern and southeastern Nigerian markets, enabling the company to gain a stronger foothold in these areas. The Okpella facility will be able to be fuelled with gas and heavy oils.  The company is expected to announce a date for the formal inau...