Cement News tagged: Corporate

Confidence Cement to install slag dryer, close Line 1

31 October 2018, Published under Cement News

Bangladesh-based Confidence Cement will install a new slag dryer at its cement plant in Sitakunda to ensure uninterrupted production of the existing Lines 2 and 3. In addition, the company has decided to shut down Line 1, citing high maintenance costs and electricity costs at the 600tpd line.

Kohat Cement expansion works on schedule

31 October 2018, Published under Cement News

The installation of Kohat Cement Co Ltd's new 7800tpd grey cement line is making good progress at the existing plant in the Khyber Pakhtunkhwa province, Pakistan, according to the company's directors' report. Almost 70 per cent of the plant has been shipped by the supplier. Civil and erection works are progressing as scheduled, the 1QFY19 reported added. Presently Kohat Cement has 2.8M...

Pacific Cement faces clinker price rises

31 October 2018, Published under Cement News

Pacific Cement, a subsidiary of Fijian Holdings Ltd, is finding the rise in clinker prices a strain on its business. FHL CEO, Nouzab Fareed, says the company is trying to address the increase in the price of the imported raw material for cement production. Mr Fareed commented that Pacific Cement is currently facing some global challenges. "Right now we are going through a lot of challenges wi...

Cementos Pacasmayo net income drops 14% in 3Q18

31 October 2018, Published under Cement News

Cementos Pacasmayo saw its revenues fall by 4.4 per cent to PEN318.8m (US$95.2m) in 3Q18, mainly due to change in mix of products sold and to a slight decrease in prices. It also reported a 1.9 per cent rise in sales volumes of cement, concrete and precasts to 610,800t, mainly due to a recovery in the self-construction segment as well as increased sales to small and medium-sized projects. ...

Taiwan Cement to invest US$1.1bn in new joint venture

Taiwan Cement to invest US$1.1bn in new joint venture

01 November 2018, Published under Cement News

Taiwan Cement announced it will spend US$1.1bn to create a joint venture with Turkey’s OYAK in The Netherlands, via a newly-created subsidiary, Dutch TCC Holdings. Taiwan Cement will hold 40 per cent of shares in the joint venture with OYAK holding 60 per cent. Through the JV, Taiwan Cement aims to increase its visibility in the European market at a time when the Chinese market is cooling.

Gharibwal Cement's 1QFY18 profits fall to PKR269m

30 October 2018, Published under Cement News

Gharibwal Cement Ltd (GCL) announced its financial results for the 1QFY19 on 29 October. It posted a decline in profit to PKR269m (US$20,194), down by 10.6 per cent YoY, as compared to PKR301m reported in the same period last year. GCL's sales during the quarter decreased by 7.9 per cent YoY to PKR2.47bn from PKR2.69bn reported during the same period last year. The company incurred l...

Lucky Cement sees 9% turnover rise, 24% profit fall

Lucky Cement sees 9% turnover rise, 24% profit fall

30 October 2018, Published under Cement News

Lucky Cement reported a 9.2 per cent rise in gross turnover for the quarter ended 30 September 2018 to PKR31.32bn (US$235.2m) from PKR28.68bn in the same quarter of the previous year. The Pakistani cement producer attributed the increase primarily due to higher sales volumes and an increase in federal excise duty and sales tax. The company reported a consolidated profit after tax of PKR3.16b...

InterCement sells Portugal operations in further deleveraging

29 October 2018, Published under Cement News

To help reduce its indebtness, InterCement is leaving the European market. Controlled by Mover Participações (current holding company of the Camargo Corrêa group), the company agreed on Friday to sell its cement and concrete operations in Portugal and Cape Verde to Turkish group Oyak, according to Valor International. While the price of the divestment was undisclosed, the deal is believed to ...

Siam Cement Group's Philippine sales rise 46% July-September 2018

31 October 2018, Published under Cement News

Siam Cement Group (SCG) of Thailand has reported a cement sales increase between July-September 2018 of 46 per cent, boosted by the government's 'Build, Build, Build' in the Philippines. SCG’s Philippine sales from July to September expanded by to PHP5.09bn (US$94.8m), from PHP3.48bn during the same period last year. This put its total sales in the Philippines at PHP14.29bn after three quarte...

Carribbean Cement 9M revenues up 8%, net profit down 28%

02 November 2018, Published under Cement News

Caribbean Cement Co Ltd reported revenues of JMD13.239bn (US$98.4m) in 9M18, up 7.9 per cent from JMD12.265bn in the year-ago period. EBITDA rose 58.8 per cent from JMD2.429bn in 9M17 to JMD3.857bn in 9M18 on the back of lower operational costs and increased plant efficiency. Operating profit advanced to JMD3.081bn, up 49.6 per cent when compared to 9M17. However, net finance costs of JMD1...

Aditya Birla Group announces US$5bn capex plan

29 October 2018, Published under Cement News

India's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad. "Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract...

Bilfinger awarded Bardon Hill contract by Aggregate Industries

29 October 2018, Published under Cement News

Bilfinger, a Germany-based industrial services provider, has won an order from Aggregate Industries to assist with the expansion of Bardon Hill quarry in the UK. The contract includes the development, delivery, installation and networking of the electrical infrastructure of the many components and technology platforms required for the project, according to a press release. "The expansion of ...

LafargeHolcim 3Q18 sales grow by 5.8%

31 October 2018, Published under Cement News

LafargeHolcim reports that its 3Q18 results saw like-for-like net sales grow by 5.8 per cent and by 5.1 per cent in the first nine months of 2018 compared to the prior-year period. Growth was driven by increased demand as well as sales price increases. Recurring EBITDA grew over-proportionally by a very strong 8.1 percent in 3Q18 compared to 3Q17. Steep cost inflation in energy and logistics...

Cemex's gearing continues to decline to 89%

02 November 2018, Published under Cement News

During the first nine months of the year, Cemex cement shipments improved by 3.2 per cent to 52.69Mt, while ready-mixed concrete deliveries advanced by 3.7 per cent to 40.07Mm² and aggregates shipments by two per cent to 112.59Mt. The company’s turnover was seven per cent higher at US$10,933.1m, while EBITDA was a marginal 0.4 per cent ahead at US$1956m. The trading profit improved by one per ...

Pioneer Cement sees profits fall by 38% in 1QFY19

26 October 2018, Published under Cement News

Pioneer Cement Ltd (PCL) announced its financial results for the 1QFY19 on 25 October. It posted a profit fall to PKR257m (US$1.93m), down by 38.4 per cent YoY, as compared to PKR417m reported in the same period last year.   According to PCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter increased by 2.5 per cent YoY to PKR3.23bn from PKR3.15bn reported duri...

Cemex Latin American Holdings sees weak volumes

26 October 2018, Published under Cement News

Cemex Latin American Holdings saw turnover for the first nine months decline by 8.6 per cent to US$848.5m and EBITDA fell by 22.3 per cent to US$187.7m, with the margin coming down from 26.1 to 22.1 per cent. The trading profit declined by 29.7 per cent to US$129.2m. After a 7.7 per cent reduction in financial expenses to US$42.9m and other items, the pretax profit came off by 26.1 per cent to...