Cement News tagged: Corporate

Beni Suef Cement reports modest revenue increase in 2Q19

05 September 2019, Published under Cement News

Egypt's Misr Beni Suef Cement saw a one per cent YoY increase in revenue to EGP454m (US$27.4m) in the 2Q19, supported by increased sales despite the Ramadan and Eid holidays. However, net profit was down 82 per cent YoY to EGP16m. The company may consider new investment opportunities worth up to EGP1bn during the coming period, as the company looks to benefit from a cash balance of over EGP...

Raysut Cement to install 1Mta grinding unit in Oman

05 September 2019, Published under Cement News

The board of Oman’s Raysut Cement Co has approved a plan to install a new grinding unit in Duqm, in the central-eastern part of the country. The 1Mta project is expected to represent an investment of US$30m, with work on the plant scheduled to begin later this month.

Cemex Holdings Philippines receives approval for rights issue

04 September 2019, Published under Cement News

Cemex Holdings Philippines has received board approval for a share sale to existing investors, with a final issue size up to the value of US$250m. The increase in authorised capital stock, followed by an equity deal, is reportedly the best option to improve its capital structure, provide balance sheet flexibility and fund the ongoing expansion of its Solid Cement plant in Antipolo, Rizal, ac...

Najran Cement has reappointed its chairman

04 September 2019, Published under Cement News

Saudi Arabia's Najran Cement Co has reappointed Mohammed bin Manaa Aballala (non-executive member) as its chairman. Salah bin Yassin Allaf (independent member) was named as deputy chairman, while Abdulsalam Abdullah Aldriabi was reappointed as CEO.

Caribbean Cement Co exports clinker to Haiti for the first time

Caribbean Cement Co exports clinker to Haiti for the first time

03 September 2019, Published under Cement News

Jamaica’s Caribbean Cement Co has exported clinker to Haiti for the first time, according to the Jamaica Observer. The 7500t shipment became possible due to excess production at the company’s plant in Kingston. The operations of the plant have been upgraded over the past four years with an investment of JMD4bn (US$162m) in capital expenditure and JMD500m in training, health and safety, and i...

Akhangarancement records 29% production increase in 7M19

03 September 2019, Published under Cement News

Uzbekistan’s Akhangarancement has recorded a 29 per cent YoY increase in production for the first seven months of 2019, reaching 1.1Mt of cement. The company also shipped 34 per cent more products to customers. In July alone, 190,349t of cement was shipped, the company’s best result since 2013. The growth in production and shipping indicators was also felt in the quarry of the plant, which mi...

Breedon appoints Clive Watson to its board

Breedon appoints Clive Watson to its board

03 September 2019, Published under Cement News

UK-based Breedon Group has announced the appointment of Clive Watson to its board as an independent non-executive director of the company. Mr Watson was previously the group financial director of Spectris and is still currently serving as a non-executive director of DiscoverIE Group. According to a press release, he holds 35,000 ordinary shares (0.002 per cent of total voting rights) in the ...

KHD becomes a member of the WCA

03 September 2019, Published under Cement News

Germany’s KHD Humboldt Wedag International AG (KHD) has joined the World Cement Association (WCA) as an Associate Corporate Member. "In a globalised world, we can only tackle the big challenges facing the cement industry, like climate change, together, so it’s great to be working alongside an organisation as respected as KHD," said Vincent Lefebvre, chairman of the WCA. With its range of cle...

Attock Cement's grinding unit starts production in Iraq

05 September 2019, Published under Cement News

Attock Cement Pakistan Limited (ACPL) has informed the Pakistan Stock Exchange (PSX) that commercial production from its newly constructed 0.9Mta cement grinding unit in Basra, Iraq, commenced on 1 September. ACPL has succeeded in exporting a huge quality of clinker and cement both in bags and bulk to UAE, South Africa, Iraq, Sri Lanka and many other countries. In addition, the company also...

Zhejiang Shangfeng to acquire majority stake in cement producer

02 September 2019, Published under Cement News

China’s Zhejiang Shangfeng Building Materials Co is set to acquire a 65 per cent stake in Ningxia Mingfeng Mengcheng Building Materials Co, a producer of general Portland cement, clinker and special cement. The total value of the deal is CNY196.65m (US$27.76m). After completion, Ningxia Mingfeng is expected to become a holding subsidiary of Zhejiang Shangfeng. The acquisition will reportedly ...

Construction of Akhangarancement's new line is 90% complete

02 September 2019, Published under Cement News

Construction of the new line at Eurocement’s Akhangarancement facility in Uzbekistan is now over 90 per cent completed, according to Ma Mingliang, general director of Beijing Triumph International Engineering Co. Around half of the 2,700t of metal structures delivered to the site have already been installed. At the same time, 4000t of equipment have already been delivered to the construction s...

Pakistan makes GIDC workable for industries

02 September 2019, Published under Cement News

The President of Pakistan, Arif Alvi, promulgated the Gas Infrastructure Development Cess - GIDC (Amendment) Ordinance 2019 to waive half of the outstanding liabilities of the fertiliser, textile, power generation, compressed natural gas (CNG) and cement sectors, last week. According to a local research house, the government has reportedly made amendments to the GIDC Act to recover the long ...

PPC releases operational update for the 4MFY20

30 August 2019, Published under Cement News

South Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decre...

YTL Corp returns to profit in the 4QFY19

30 August 2019, Published under Cement News

Malaysia’s YTL Corp Bhd posted a net profit of MYR2.44m (US$578,705) for the 4QFY19, against a net loss of MYR63.54m in the year-ago period. Revenue increased 20 per cent to MYR5.04bn from MYR4.2bn in the 4QFY18. Except for its property and utilities business segments, the company recorded positive growth in profit before tax (PBT) in all its business divisions during the quarter. The const...

Cahya Mata Sarawak sees decline in 1H19 net profit

29 August 2019, Published under Cement News

Malaysia's Cahya Mata Sarawak Bhd (CMS) recorded a 54.9 per cent decline in net profit to MYR41.33m (US$9.79m) for the 2Q19, compared with MYR91.63m in the year-ago period. However, revenue showed a modest increase to MYR399.17m from MYR395.28m. In the 1H19, net profit decreased 37 per cent to MYR82.1m, while revenue rose 8.9 per cent to MYR817.35m. The company has attributed the lower earni...

Vassiliko Cement sees 9% increase in total income

29 August 2019, Published under Cement News

Cyprus’ Vassiliko Cement has seen an 8.9 per cent YoY increase in total income to EUR53.99 for the first six months of 2019, compared with EUR49.6m in the year-ago period. Profit after tax advanced 13.5 per cent to EUR10.1m from EUR8.9m in the 1H18. The company expects to exceed the previous year’s total income of EUR97.9m in the full-year period.