Cement News tagged: Corporate

MGI Group of Bangladesh sets up nine industrial units, including cement

06 March 2020, Published under Cement News

Meghna Group of Industries (MGI), a leading Bangladeshi business group inaugurated last week nine newly-built industrial units, including cement plants, at its economic zone in the Narayanganj district, Dhaka of Bangladesh. A group announcement said, "We are much obliged to the distinguished guests, patrons and well-wishers for their unconditional support to our cause." The Finance Minister o...

Lafarge Cement appoints new Cauldon Works manager

06 March 2020, Published under Cement News

Lafarge Cement UK (Aggregate Industries - LafargeHolcim group) has appointed Stuart Hutching as the new manager of its Cauldon cement plant in Staffordshire, UK. With more than 20 years of experience within the cement industry, Mr Hutchings will be responsible for the plant, which produces approximately 1Mta of cement and employs around 150 staff. Mr Hutchings said: "Cauldon is a world-class...

Caribbean Cement Co inaugurates new packing equipment

05 March 2020, Published under Cement News

Jamaica's Caribbean Cement Co has inaugurated a new palletising machine at its Rockfort plant to reduce manual packing. The FLSmidth Ventomatic Polimat palletiser is one of two new packing machines acquired by the company and while one machine is already up and running, the commissioning of the second is already underway. "Our production capacity, as of today, with only this new palletiser,...

Good indicators for cement industry in Pakistan

05 March 2020, Published under Cement News

The Pakistan government's intentions to lower the mark-up rates, encouraging cement dispatch data, a decrease in inflation figures and significant growing provincial export data have altogether renewed the investors' confidence in cement sector scripts at Pakistan Stock Exchange (PSX).  Presently, Pakistan's central bank SBP Policy Rate is 13.25 per cent per annum, making borrowing too expen...

Yanbu Cement reports 183% rise in net profit for 2019

Yanbu Cement reports 183% rise in net profit for 2019

05 March 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.

GICA subsidiary prepares export plan

05 March 2020, Published under Cement News

The Public Industrial Group of Algerian Cement (GICA) has announced that its Beni Saf subsidiary plans to export over 45,000t of clinker to African countries during the current year. Orders are reportedly under study for exports from the port of Ghazaouet, Algeria, to several countries, including Ghana, Guinea and Mauritania, according to Dakmous Fatima-Zohra, communications and marketing of...

JSW Cement launches Jajpur grinding plant

JSW Cement launches Jajpur grinding plant

04 March 2020, Published under Cement News

JSW Cement has announced that it has recently inaugurated the 1.2Mta Jajpur cement plant in Odisha, India. The launch was graced by the honourable Ratan Jindal, Parth Jindal and Abhyuday Jindal. With this expansion JSW Cement's cement capacity has expanded to 14Mta.

Mancherial Cement Company faces possible closure

04 March 2020, Published under Cement News

Mancherial Cement Company (MCC), formerly known as Associated Cement Companies (ACC), one of the oldest cement manufacturers in south India, is on the verge of closure, reports Telangana Today. Owing to its weak economic condition, the existing management of the plant is struggling to pay power bills and to clear loans availed from various banks. The plant was built in 1958 with German techn...

Saudi Cement Co records 13% increase in net profit

04 March 2020, Published under Cement News

Saudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn.

Lafarge Zimbabwe appoints new Chief Executive

04 March 2020, Published under Cement News

Lafarge Zimbabwe (LafargeHolcim group) has appointed Precious Murena-Nyika as its new chief executive. Siame Kaulule, who previously held the position, left in January 2020 to take up a new position for the company in South Africa. "Precious Murena-Nyika was yesterday confirmed as the new Lafarge Zimbabwe CE. The announcement was done by Lafarge East and Southern Africa area manager Pierre De...

CRH EBITDA up 25% in 2019

05 March 2020, Published under Cement News

CRH plc posted a six per cent advance, or three per cent like-for-like (LfL), in sales to EUR28.3bn in 2019 when compared with 2018. The company’s EBITDA increased 25 per cent (+3 per cent LfL) YoY to EUR4.2bn while it saw an EBITDA margin increase of 230 basis points. “CRH delivered good profit growth in 2019 supported by positive momentum in our heritage businesses and strong contributions ...

Shree Cement operates largest kiln in the world

03 March 2020, Published under Cement News

Shree Cement has increased kiln capacity to 14,500tpd following improvements at its Ras Al Khaimah plant in the UAE, making it the world’s largest operational kiln. The kiln surpasses the previous record-holder, ACC’s Wadi II plant in Karnataka, India, by 2000tpd. Shree Cement’s current installed capacity is 41.9Mta. In 2018 the company acquired Union Cement with its Ras Al Khaimah plant. Th...

Sephaku Cement sees profits fall on construction activity decline

03 March 2020, Published under Cement News

Sephaku Cement (Dangote group) says it expects the next 12-18 months to be tough on the building sector. Declining numbers of new construction sites are impacting on business. The market is expected to remain subdued, Sephaku Cement said, as reflected by the 12.7 per cent decline in building plans passed for 2019, according to Stats SA data. Sephaku Cement reported profit after tax slumped...

Holcim Philippines posts 41% net income advance in 2019

05 March 2020, Published under Cement News

Holcim Philippines achieved a revenue of PHP33.5bn (US$660.4m) in 2019 despite a slow first half in terms of construction activity. However, the company’s operating EBITDA increased 36.7 per cent YoY to PHP6.7bn in 2019 from PHP4.9bn in 2018 as the company benefitted from initiatives to raise efficiencies and improve costs across the board. The rise was further supported by a more favourable...

Royal Cement Benelux to distribute cement from Schiedam port

03 March 2020, Published under Cement News

Royal Cement Benelux, part of Royal El Minya Cement and the Sesco Group, one of the largest providers of white cement in the world, announced that it has acquired a new 18,500m 2 facility in the port of Schiedam in The Netherlands. The port of Schiedam is part of the Port of Rotterdam. The new facility, which includes 13,500m 2 combined office, storage and operating space, will be the compa...

Pioneer Cement appoints new CEO, posted loss during 1HY19

03 March 2020, Published under Cement News

Pioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December  2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company lo...