Cement News tagged: Corporate
Post-merger CCNN reports improved 1Q19 results
Nigeria’s Cement Co of Northern Nigeria (CCNN) saw its net profit after tax soar by 236 per cent YoY to NGN3.636bn (US$10.1m) in the first quarter of 2019 ended 31 March. The merger with Kalambaina Cement Co Ltd is seen as a key reason for the improved profit figure. In the post-merger three-month period revenue saw a 213 per cent hike to NGN16.886bn from NGN5.394bn in 1Q18. Sales volumes ...
Sagar Cements completed Jajpur acquisition
India-based Sagar Cement has completed the acquisition of its 100 per cent stake in Jajpur Cements Private Ltd (JCPL). The company will now start the process of establishing a 1.5Mta greenfield grinding plant in Jajpur, Odisha. In December, Sagar Cements’ board had approved the investment of INR1.08bn (US$15.6m) in JCPL in a phased manner and to set up the INR3.08bn plant in Jajpur. The ...
Gas supply to Lucky Cement Pezu plant cut off
Lucky Cement has seen gas supply cut off at its Pezu plant as a result of the ongoing drive against gas theft undertaken by Sui Northern Gas Pipelines Ltd (SNGPL) in Khyber-Pakhtunkhwa, Pakistan. In a letter to Pakistani Prime Minister, Imran Khan, the company management highlighted the major shutdown at its Pezu plant in Lucky Marwat district, Khyber-Pakhtunkhwa. “For the past almost four ...
Hail Cement sees 41% YoY 1Q revenue increase
Saudi Arabia-based Hail Cement reported a 41 per cent YoY rise in revenues to SAR68.6m (US$18.3m) in the first quarter of 2019. “The main reason for the increase in net income in the current quarter compared to the same quarter last year is due to more sales quantity and better selling price,” the firm said in its filing to the Tadawul, the Saudi stock exchange. The results come only month...
Republic Cement launches Kapit-Balay masonry cement
Philippine cement producer Republic Cement introduced its Kapit-Balay masonry cement to the market at its Partners’ Night at the Maayo Hotel, Mandaue City, Cebu. Kapit-Balay cement is a Type S high-strength masonry cement optimised for ease of application and adhesion. It is suitable for plastering, brick or block laying and filling. With a lower clinker-to-cement ratio due to its light mi...
Bangladesh Cement Manufacturers Association appoints new president
Bangladesh Cement Manufacturers Association (BCMA) has elected Muhammad Alamgir Kabir, managing director of Crown Cement as its new president for the next two years, according to BDNews24. Muhammad Shahidullah, managing director of Metorcem Cement Ltd and chairman of Metrocem Group, and Zahir Uddin Ahmed, managing director of Confidence Cement, have also been elected the first and second vice...
Vicat sees strong French volumes
Vicat's first-quarter turnover showed 4.7 per cent improvement to EUR600m, which represents an underlying advance of just 0.3 per cent at constant parameters and exchange rates. The cement turnover also grew by 4.7 per cent to EUR302m, as cement shipments declined by four per cent to 5Mt. Before inter-sector eliminations, the cement turnover amounted to EUR353m, a 3.3 per cent improvement. The...
Eagle Cement Corp achieve PHP1.59bn net profit in 1Q19
Eagle Cement Corp reported a net profit of PHP1.59bn (US$30.6m) in 1Q19. This was a rise of 49 per cent YoY driven by a double-digit growth in sales volumes and higher cement selling prices. Eagle Cement's net sales in the first quarter amounted to PHP5.37bn, up by 34 per cent in the same period last year, the company told the Philippine Stock Exchange. The "strong domestic demand drive...
Uzbekistan proposes to cancel import benefits
The Ministry of Investment and Foreign Trade of Uzbekistan has proposed to abolish cement import benefits, which were introduced in January 2018. The government suggested that the abolition of the benefits will lead to more efficient production of building materials, create a competitive market and increase domestic production, according to Esmerk CIS News. Uzbekistan’s leading supplier of...
Najran Cement Co posts 159% rise in net profit
Saudi Cement producer Najran Cement Co reported a 159 per cent increase in net profits (after zakat and tax) to SAR6m (US$1.6m) in the 1Q19 when compared with the 1Q18, when it reported a loss of SAR10.2m. Sales revenues reached 106.5m in the first three months of 2019, up from SAR97m in the year-ago period. Total profits reached SAR22.6m, an considerable improvement when compared with the S...
Maadesh Cements plans cement grinding unit in Tamil Nadu
India-based Maadesh Cements is planning the two-phase construction of a 300tpd cement grinding unit in Kattur village, Vellore district, Tamil Nadu. The first phase will see the building of a 100tpd plant. To build the works the company has acquired a 1.57ha plot of land and estimates the project cost at INR50m (US$721,175). To produce OPC and PPC cement, Maadesh Cements will install a 20t...
Itacamba Cement launches US$95.6m notes offering
Itacamba Cemento of Bolivia has announced a US$95.6m notes offering on the Bolivian stock exchange. The company is a subsidiary of Cementos Molins and Votorantim Cementos of Spain and Brazil, respectively. Previsión AFP Bolivia acted as initial purchasers on the offering. Itacamba Cementos is headquartered in Santa Cruz and has a cement capacity of approximately 1Mta with a grinding plant ...
FLSmidth reports strong order intake in 1Q19
Two large cement orders from Paraguay and Vietnam supported Denmark-based equipment manufacturer FLSmidth’s order intake in the 1Q19. The order backlog expanded to DKK17.8bn (US$2.66bn), the highest level since 2013 and up from DKK13.9bn at the same time last year. "Our order intake and order backlog demonstrate our competitive strength. Each new order is the result of a customer's careful s...
Nesher Cement considering Haifa closure
Israeli cement producer is looking at closing its Haifa plant and moving jobs to Turkey, according to Globes. Last year the company dismissed 40 employees and is reportedly considering further lay-offs and reductions in its activity through Israel, including shutting down its Haifa works. The company’s profit declined sharply last year. In addition, the domestic cement industry is expected...
UltraTech clinker grinding project to start in October
UltraTech Cement is preparing to set up a 3Mta clinker grinding unit in Cuttack district, Odisha, India. The INR5.59bn project,which will be funded through a bank loan, will be located on a 36.4ha site. It is expected to provide employment to 120 people. The company has received environmental clearance for the project, which is expected to start by October 2019.
Shanshui Cement reduces loss to CNY210.89m
Shanshui Cement has narrowed its loss to CNY-210.89m (US$-31.3m) for the 1Q19, according to a company statement. In the 1Q18 the company loss reached CNY-471.22m. Shanshui’s operating revenue increased by 41.5 per cent YoY to CNY2.58bn in the first quarter while its gross profit was CNY682.03m, up 43.3 per cent YoY.