Cement News tagged: Corporate

LafargeHolcim creates Chief Sustainability Officer position

25 September 2019, Published under Cement News

LafargeHolcim has created its first Chief Sustainability Officer position as part of its executive committee, with Magali Anderson appointed to the role effective from 1 October 2019. "I am very pleased with the appointment of Magali as our first Chief Sustainability Officer. This will accelerate our vision of running our operations with zero harm to people and contributing to a built envir...

Holcim Philippines inaugurates new facilities at Bulacan unit

26 September 2019, Published under Cement News

Holcim Philippines has inaugurated new storage and loading facilities at its plant in Norzagaray, Bulacan, which it hopes will help boost production. The additions include a new warehouse with six loading bays and new packing and loading machines. "This is the third site we are holding inauguration activities at this year as our company continues investments to strengthen our ability to supp...

EAPCC dismisses all top managers

26 September 2019, Published under Cement News

East African Portland Cement Co (EAPCC) has dismissed all of its top managers as part of a restructuring plan that will see the cement producer sell 2000 acres of prime but unused land in Mavoko, Machakos, Kenya, to boost its finances. A total of 136 supervisors and managers were issued with dismissal notices last week although it is expected to rehire some of them on 40 per cent of their pr...

Lafarge Malaysia shareholders vote down RPTs with YTL Cement

24 September 2019, Published under Cement News

Minority shareholders of Lafarge Malaysia have voted down a plan to enter into recurrent related party transactions (RPTs) with YTL Cement, estimated to be worth about MYR3.5bn (US$837.92m). The proposal was rejected by 76 per cent of the shareholders, according to a bourse filing. The RPTs would have allowed Lafarge to deal with YTL on the sale and purchase of clinker, cement and pulverised...

Thatta Cement profit falls by 40% in FY19

Thatta Cement profit falls by 40% in FY19

24 September 2019, Published under Cement News

Thatta Cement Co Ltd (THCCL) of Pakistan has announced its financial results for FY19. It declared earning of net profit of PKR213m (US$1.36m)(unconsolidated) as compared to PKR356m earned in the same period last year.  The company's profit dropped by 40.2 per cent despite increase in sales, which stood at PKR3.468bn compared to PKR2.842bn in the same period last year. The company incurred ...

ARM and East Africa Portland's forced to cease production

23 September 2019, Published under Cement News

Both ARM and East Africa Portland Cement are experiencing major operational challenges that have inhibited their ability to produce any cement. "ARM Cement and East African Portland Cement Company, are currently experiencing some problems that have led to ceasing of production," said Apex Capital. The court battle between Rai Cement and National Cement has stalled the sale of ARM and Stanic ...

West China Cement to set up cement joint venture

West China Cement to set up cement joint venture

26 September 2019, Published under Cement News

West China Cement subsidiary West International, CIF-MOZ, Oceanic Star and Guhava have entered into a cooperation agreement to establish a joint venture for joint investment and construction of a cement production line in Mozambique. West International, CIF-MOZ, Oceanic Star and Guhava will contribute MZN60m, MZN21m, MZN14m and MZN5m, respectively, to the registered capital of the joint vent...

High interest rates impacting cement companies in Pakistan

23 September 2019, Published under Cement News

Pakistani cement industry profitability in FY19 and moving forward is likely to be dented by high interest rates/financing cost as being reported by number of cement companies in country. According to a research report of BMA Research, multiple increases in interest rates in the last 20 months have increased finance costs significantly and cement companies may want to reduce this debt burde...

Dalmia to build 0.5Mta carbon capture facility

20 September 2019, Published under Cement News

As part of its drive to become a carbon-negative by 2040, Dalmia Cement announced plans to build a 0.5Mta carbon capture facility at its cement plant in Tamil Nadu in 2-3 years. “The company is committed to become ‘carbon-negative by 2040’, and capturing process emissions from cement manufacturing will be critical towards reaching the target of net zero by 2040,” said Mahendra Singhi, MD an...

Phinma Corp set to invest in Vietnam's Song Lam Cement

20 September 2019, Published under Cement News

Philippine-based Phinma Corp is set to invest in Vietnam’s Song Lam Cement JSC through the acquisition of preferred shares worth PHP2.6bn (US$50m). Song Lam will now become a major supplier of PhilCement Corp, which is 60 per cent owned by Phinma, according to a company disclosure. Following the investment, Phinma will be entitled to nominate one member of Song Lam’s board of directors and t...

Maple Leaf Cement profit falls by 60% in FY19

20 September 2019, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) of Pakistan announced its financial results for FY18-19 today. It declared earning a net profit of PKR1.465bn (US$9.3m) (unconsolidated) as compared to PKR3.632bn earned in the same period last year. It shows profit dropped by 59.7 per cent, despite on a good development, when the company sales stood at PKR26bn, compared to PKR25.69bn in the same period las...

Semen Indonesia reports 4% drop in August sales

14 October 2019, Published under Cement News

Semen Indonesia reported a four per cent fall to 2.789Mt in total sales in August 2019 when compared with the previous year, when the company achieved sales of 2.904Mt. In July 2019 sales slipped by 2.6 per cent YoY to 2.706Mt. Of the total, domestic sales of 2.466Mt were reported, down 5.1 per cent YoY. This follows a six per cent YoY drop in July, when sales to Indonesian customers stood a...

RHI Magnesita set for Indian consolidation

18 September 2019, Published under Cement News

RHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times. The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of con...

DG Khan Cement profit falls in FY19

19 September 2019, Published under Cement News

DG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn a...

Fancesa's new plant 85% complete

20 September 2019, Published under Cement News

The construction of the new cement plant of Fábrica Nacional de Cemento Sucre SA (Fancesa) in Cal Orck'o, Bolivia, is 85 per cent complete, according to the company’s President, Armin Cortez. "The new production line of the Fábrica Nacional de Cemento Sucre SA, to date is at 85 per cent of physical execution and 81 per cent of financial execution, and it was possible to meet the goals planned...

Lucky Cement updates progress on overseas and local projects

16 September 2019, Published under Cement News

Lucky Cement is currently implementing two cement projects:  the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place ...