Cement News tagged: Corporate
Tudela Veguin opens new El Musel terminal
Cementos Tudela Veguin has inaugurated its new terminal at El Musel, Gijón, Spain. The new terminal will enable the company to receive and store cement in a 4500m 2 warehouse. Bulk and bagged product from the facilities of Masaveu Industria will be handled at the terminal. The terminal facilities also include a 1250m berth for ships with a 23dwt draught. This is an investment of EUR5.5m tha...
LafargeHolcim plans EUR10m investment in Kujawy
LafargeHolcim will be investing EUR10m in its Kujawy cement plant in Poland. The company will be launched a new product on the market as well as increase the use of alternative fuels (AFs) at the works. At present Cementownia Kujawy’s AF rate is between 80-85 per cent, or around 190,000t, but Lafarge plans to increase this to 90 per cent by 2021. To date Lafarge has invested around EUR10...
Confidence Power Bogra starts commercial production
The Confidence Power Bogra Ltd has informed Dhaka Stock Exchange two days ago that the Board of Directors has agreed with the decision taken in the Board of Directors of Confidence Power Holdings Ltd, an associate of Confidence Cement Ltd, having 41 per cent stake in its equity capital, that upon successful testing and commissioning the Confidence Power Bogra Ltd, a 99 per cent subsidiary of C...
Metrocem appoint new Chief Marketing Officer
Khandker Ataur Rahman Rifat has joined as group chief marketing officer (CMO) of Metrocem of Bangladesh. According to company updates, he has 25 years of experience in the cement industry. Mr Rifat previously worked as a key figure in Aman Cement Mills Ltd as CMO (July, 2016 to November, 2019), Holcim Cement as GM (January, 2015 to April, 2016), Unique Cement Ltd as Sr GM (2003 to 2014), Ce...
CRH forecasts record 2019 earnings
Ireland-based building materials major CRH predicts that its full-year earnings will expand by 23 per cent to reach a record EUR4.15bn. The trading outlook follows the company's announcement of its January-September 2019 results. Group sales rose nine per cent YoY to EUR21.8bn in the 9M19. There was a six per cent YoY increase in sales by its Europe Materials division, while Americas Materia...
PIBT shows consistent performance in 1QFY19-20
Pakistan International Bulk Terminal Ltd (PIBT) has handled 2.191Mt cargo, for the quarter ended 30 September 2019, against 2.14Mt in the same period last year, depicting consistent performance in handling import of coal for cement and other industries. PIBTL earned a net profit of PKR479.14m (US$3m) against a loss of PKR105m during this accounting period. The company's Board of Directors ...
Carthage Cement reports TND76m net loss
Tunisian cement producer Carthage Cement Co announced a loss of TND76m (US$26.7m) for the year ended 31 December 2018, compared to a loss of TND69m in the previous year. The company managed to reduce its operating deficit by nearly TND4m, the net financial charges rose from TND49.4m in 2017 to TND65m at the end of December 2018. Operating expenses increased 32 per cent YoY to 262.9m as consu...
Oman Cement appoints new CFO
Oman Cement Co has appointed Fatick Hussain Al Balushi as the company’s CFO. Mr Al Balushi has more than 15 years of experience in the oil, gas and petrochemical industries and was associated with Oman Oil Co before his appointment at Oman Cement Co. He also worked as finance manager for Oman Oil Co’s Salalah Methanol Co. He is an alumnus of Sultan Qaboos University and University of Leice...
Dangote Cameroon sees 6% sales drop in 9M19
In the first nine months of 2019, Dangote Cameroon reported a decrease in its domestic performance with sales down six per cent. "Our 1.5Mta clinker mill in Douala sold about 866,000t of cement in the first nine months of 2019, down six per cent from 920,000t sold in the same period in 2018. We estimate that our market share was 40 per cent during the period," said the group. The decline i...
Cemex reportedly looks to sell stake in Louisville plant
Cemex is reportedly looking for a buyer for its controlling interest in the Kosmos cement plant in Louisville, Kentucky, USA. The company is working with Bank of America Corp and Citigroup Inc on the sale of its 75 per cent stake, said the unnamed sources for El Financiero. The remaining stake in the company is owned by Buzzi Unicem. The sources also noted that no definitive decisions have b...
Titan buys back IFC minority stake in SE Europe/Egypt units
Greece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group s...
Trinidad Cement reprimanded over dismissal of 16 workers
Trinidad Cement Ltd (TCL) had been reprimanded by the Industrial Court for dismissing 16 workers without giving them prior notice. The President of the Industrial Court, Deborah Thomas-Felix, and members Albert Aberdeen and Morton Mitchell ruled that while TCL was guilty of an industrial relations offence, the court would not be taking further action as the Oilfields' Workers' Trade Union w...
PPC's group revenue impacted by Zimbabwe
PPC announced a group revenue of ZAR4.9bn (US$330.1m) and group EBITDA of ZAR868m for the six months ended 30 September 2019. Group revenue was down 12 per cent on results from the six-month period at ZAR5.6bn, which was attributed to a 17 per cent volume decline in group cement volumes. Group EBITDA was also affected by Zimbabwe's currency devaluation and hyperinflation as well as the tradin...
Huaxin Cement Narayani resumes construction work after floods
The construction of Huaxin Cement Narayani’s plant at Dhading district, Nepal, has now resumed after a five-month stoppage due to floods. Incessant rains had damaged the construction site in mid-June this year. "As soon as the festivals were over, 400 Chinese workers including technicians and 300 Nepali workers started working," said Pitta Bahadur Dallakoti, chairperson of Benighat Rorang Ru...
Breedon Group revenues up to GBP800m in 10M19
Breedon Group Plc has released results for the first 10 months to 31 October 2019 with revenues up by eight per cent to approximately GBP800m. The results included a 10-month contribution from the former Lagan Group that was acquired by Breedon in April 2018. Breedon said it had performed well, seeing improved EBIT and continuing robust cash generation during the 10-month period. "These re...
Cemex subsidiary to enter Chinese market
Cemex's venture capital unit has announced that it will be entering the Chinese market through a partnership with Glodon, a local provider of digital platform services for the industry, and Interdream Ventures, a venture capital firm seeking to digitise the construction and decoration industries. "This type of alliance between two joining segments is key to finding new successful business mo...