Cement News tagged: Corporate

Malayan Cement announces 4Q19 net loss of US$9.1m

21 February 2020, Published under Cement News

Malayan Cement Bhd remained in the red in 4Q19, making a net loss of MYR38.55m (US$9.1m). The group has changed its financial year end to 30 June 2020 from 31 December 2019 after the emergence of YTL Cement Bhd as its largest shareholder. The better performance came despite revenue declining to CMY446.87m from CNY548.16m previously, no thanks to lower domestic sales that were partially offset...

SungShin Cement posts 11% net profit rise

21 February 2020, Published under Cement News

South Korea’s SungShin Cement has reported a full-year revenue of KRW714.64bn (US$590.2m) in 2019, 3.9 per cent up when compared with KRW688.07bn reported in 2018. However, operating profit fell 30.2 per cent YoY from KRW29.27bn  to KRW20.43bn in 2019. Net profit rose 11.4 per cent from KRW16.61bn to KRW18.5bn in 2019.

Ambuja Cements names Neeraj Akhoury as MD and CEO

21 February 2020, Published under Cement News

Ambuja Cements has appointed Neeraj Akhoury as its new managing director and chief executive officer with effect from 21 February 2020, the company said in a press release. He will succeed from Bimlendra Jha, who resigned to pursue other interests. Mr Akhoury was previously MD and CEO of ACC Ltd and has 27 years of experience across multiple roles including sales and marketing, logistics and...

Profit of Bestway Cement falls in 1HY19

20 February 2020, Published under Cement News

Bestway Cement Ltd (BWCL) announced its financial results for the half year ended 31 December 2019. According to financial results sent to Pakistan Stock Exchange (PSX), today, the company declared earning of net profit of PKR421m (US$2.73m), which was decreased by 94 per cent YoY, as compared to PKR6.88bn in the same period last year. The major reasons can be attributed were the high cost of ...

LafargeHolcim CEO endorses worldwide initiative to promote human rights

LafargeHolcim CEO endorses worldwide initiative to promote human rights

20 February 2020, Published under Cement News

LafargeHolcim CEO, Jan Jenisch, has joined today the Call to Action for Business Leadership on Human Rights by the World Business Council for Sustainable Development (WBCSD).  Leaders who join the initiative commit to making human rights more than just a risk and compliance issue for their companies – they will actively promote them as part of their company's commitment to social responsibi...

FDI grows in Pakistan but cement and construction sectors lag behind

19 February 2020, Published under Cement News

Pakistan received a net total foreign direct investment (FDI) of US$1.563bn during first seven months of FY19-20 (July 2019 - January 2020) compared to US$943.6m in the comparative period of a year earlier. This represents an increase of 65.70 per cent YoY, mainly due to a high inflow of investment from China, Norway, Japan, Malta, South Korea and other countries in all sectors, according to t...

HeidelbergCement reports good 2019 results growth

HeidelbergCement reports good 2019 results growth

20 February 2020, Published under Cement News

HeidelbergCement reports good 2019 results growth in addition to the preliminary unaudited figures already published on 12 February 2020, HeidelbergCement has today presented – as scheduled – preliminary unaudited figures for the group areas and the fourth quarter 2019. "We have concluded the 2019 business year successfully," said Dr Dominik von Achten, chairman of the Managing Board of Heide...

Hoffmann Green Cement Technologies appoints Head of New Construction

18 February 2020, Published under Cement News

Hoffmann Green Cement Technologies, a pioneer in low-carbon cement, has announced the appointment of Olivier Lefelle as Head of New Construction. He will oversee the construction of the two new production sites, H2 and H3, in Vendée and the Paris region respectively, each of which will have a capacity of 250,000tpa of low-carbon cement. Julien Blanchard and David Hoffmann, co-founders of Ho...

Semen Indonesia rebrands as Semen Indonesia Group

20 February 2020, Published under Cement News

Semen Indonesia has rebranded to become Semen Indonesia Group (SIG), including a new logo, to reinforce the company’s environmental efforts and introduce itself as a provider of building materials solutions. Launching the new strategy, Adi Munandir, Semen Indonesia's director of Marketing and Supply Chain, told local press that: "We are already in the phase of thinking about our future. ...

Wonder Cement launches digital cement bag campaign

17 February 2020, Published under Cement News

Wonder Cement of India has launched its digital campaign, 'Har Raah Mein Wonder Hai', designed specifically to run on platforms such Instagram, Facebook and YouTube. The campaign also marks Wonder Cement being the first-ever Indian cement brand to enter the world of the video application IGTV. No other brand in this category has created content specific to the platform. The objective of th...

Vicat reports 6% increase in consolidated sales for 2019

14 February 2020, Published under Cement News

Vicat has reported a 6.1 per cent increase in consolidated sales to EUR2.74bn for 2019, rising from EUR2.58bn in the previous year. EBITDA showed a similar 6.9 per cent YoY growth to EUR526m from EUR492m, while the EBITDA margin edged up to 19.2 per cent from 19.1 per cent in 2018. "The Vicat Group’s solid performance in 2019 reflects the relevance and robustness of its business model. Strong...

Mitsubishi Materials and Ube Industries Ltd consider cement merger

14 February 2020, Published under Cement News

Japan’s Mitsubishi Materials Corp has signed letter of intent regarding the merger of its cement business with Ube Industries Ltd. The company’s will now begin discussions regarding the integration and plan to sign a definitive agreement around September 2020. The two companies already have a joint venture, Ube-Mitsubishi Cement Corp, established in 1998. "While the business situations surro...

OYAK to invest in Cabo Verde

14 February 2020, Published under Cement News

The Cape Verdean government reported that Turkish cement producer, OYAK is investing in Cabo Verde for the extraction of pozzolan, volcanic rocks used in the cement industry. Pozzolan extraction in Porto Novo dates back to the colonial period, but has been stopped for over six years. Local authorities estimate that there are around 10Mt of pozzolanic deposits in the area. At the end of 2019, ...

DG Khan Cement profit falls 51% in the 1HFY19-20

14 February 2020, Published under Cement News

DG Khan Cement Co (DGKC) has announced its financial results for the half-year period ended 31 December 2019, reporting a 43 per cent fall in profit to PKR946m (US$6.1m). The major factor responsible for the decline was the increased cost of sales and taxation, despite little improvement in sales.   The company's financial charges surged by 83 per cent YoY amid high interest rates. Net sales d...

AbaCore Capital signs joint venture agreement for cement project

14 February 2020, Published under Cement News

Philippines-based AbaCore Capital Holdings Inc has received approval for a joint venture agreement with Honghui Pioneer S-Cement International Inc, which will facilitate the development and operation of a new cement plant. Omnilines Energy International Network, a subsidiary of AbaCore Capital, is therefore set to invest PHP1bn (US$19.8m) to establish a cement plant and silo project with Ho...

HeidelbergCement sees revenue rise 4% in 2019 preliminary results

13 February 2020, Published under Cement News

HeidelbergCement has announced a 4.3 per cent YoY increase in group revenue to EUR18.851bn in its preliminary results for 2019. On a like-for-like (LfL) basis, the rise moderated to 2.1 per cent YoY. The result from current operations advanced 8.8 per cent YoY to EUR2.186bn, or 4.5 per cent growth LfL. However, the company’s cement and clinker sales volumes fell 3.1 per cent in 2019 to 125....