Cement News tagged under: ACC
LafargeHolcim02 August 2016, Published under Cement NewsLafargeHolcim has agreed to sell Lafarge India to the Indian conglomerate Nirma Ltd for around US$1400m. It will be Nirma’s first investment in the cement sector and comes in spite of a marginally higher offer from a Chinese cement producer. The deal involves three cement works and two grinding centres with a combined capacity of some 11Mt and is also one of the largest ready-mixed concrete producers in India. The disposal of some cement operations were demanded by the competition authoritie... |
India: Ambuja and ACC report profit rises for 2Q1627 July 2016, Published under Cement NewsLafargeHolcim’s Indian subsidiaries ACC and Ambuja Cements have both reported an increase in profits for the second quarter of 2016. In the three months to June, Ambuja Cements’ net sales were up only modestly, climbing 1.9 per cent to INR25.4bn (US$378m), but profits rose much faster. These reached INR4bn (US$59.4m), a rise of 76.5 per cent YoY. Ambuja’s increased profits were mainly driven by lower power and fuel costs. Over two-thirds of the higher profit margins can be traced to th... |
LafargeHolcim receives go-ahead for Indian streamlining21 July 2016, Published under Cement NewsIndia’s Cabinet Committee on Economic Affairs has given its blessing to LafargeHolcim’s proposals to simplify the structure of its remaining operations in the country. The company is now awaiting the formal sign-off of the Foreign Investment Promotion Board, but this is expected shortly. Under the proposals, LafargeHolcim will increase its stake in Ambuja to 61.14 per cent, while Ambuja itself will take a 50.05 per cent stake in ACC. Thus, ACC will become a subsidiary of Ambuja, which its... |
India: ACC's Jamul clinker plant starts up21 July 2016, Published under Cement NewsACC, part of LafargeHolcim group, has started commercial production of its new 2.79Mta clinker plant at Jamul, Chhattisgarh, India. “We are pleased to announce commencement of commercial production from our new state-of-the-art 2.79Mta clinker facility at Jamul, located in Chhattisgarh with effect from 19 July,” the company said in a regulatory filing. Part of this integrated project, the two new cement grinding facilities, one each at Jamul and Sindri in Jharkhand, are expected to be c... |
Saudi Arabia: new power plant for ACC08 June 2016, Published under Cement NewsArabian Cement Company (ACC), Saudi Arabia, has awarded MAN Diesel & Turbo a contract to build a 40MW power plant. The plant will be equipped with two 18V48/60 TS engines and will provide power to a cement factory in Rabigh, on the Red Sea coast. The new power plant will be operated by heavy fuel oil and diesel oil. Construction of the first phase of the plant is scheduled for 2016-17. With the completion of two additional phases, including the installation of a further four engines, t... |
India: Cement stocks rise as demand recovers14 April 2016, Published under Cement NewsIndian cement manufacturers are set to continue the strong performance which has seen their stocks outperform the BSE Sensex by a factor of ten over the past month. In this period, the Economic Times reports, India Cements’ shares are up 23 per cent, ACC is up 18 per cent, JK Cement and JK Lakshmi Cement are up 16 per cent, Ramco Cements is up 14 per cent and Ambuja Cements is up 12 per cent. The market as a whole, as tracked by the Bombay Stock Exchange’s Sensex index, is up just 1.2 per... |
ACC forecasts 6% demand growth in 201622 March 2016, Published under Cement NewsIndia’s ACC predicts domestic cement demand to rise by six per cent in 2016 as spending on housing and infrastructure increases. The company’s clinker and grinding facilities in Jamul and Sindri are nearing completion, with commissioning expected in April-June. |
ACC full-year volumes impacted by mine closure, slow economic start to year15 February 2016, Published under Cement NewsACC Ltd, part of the LafargeHolcim group, reported a 2.4 per cent decline in 2015 sales volumes to 23.62Mt due to the temporary closure of mines serving its Chaibasa and Bargarh plants in eastern India, and the generally slow pace of the economy earlier in the year. Cement volumes during the final quarter of the year witnessed a turnaround, improving by four per cent YoY to 6Mt. The company’s focus on cost management helped contain overall production costs, despite a contribution to th... |
ACC sees subdued July-Sept volumes and pricing21 October 2015, Published under Cement NewsLafargeHolcim Indian subsidiary ACC reported flat volumes and subdued selling prices for the July-September 2015 quarter as construction activity and cement demand remained weak during monsoon season. Turnover during the period stood at INR2740 crore, virtually flat from the same period of last year. Operating EBITDA fell to INR313.20 crore versus INR379.08 crores in July-Sept 2014. While sales remained flat, there was a reduction in energy costs. During the quarter, a provision was also m... |
ACC quarterly profit down 45% on subdued demand, India20 July 2015, Published under Cement NewsIndian cement major ACC Ltd reported a 45.1 per cent drop in consolidated net profit for the second quarter of the calendar year to INR133.5 crore on the back of challenging market conditions and subdued demand. Consolidated total income of the company fell by 2.1 per cent to INR3,037.1 crore in April-June 2015 quarter from INR3103.2 crore in the same quarter of 2014 fiscal, it added. The company attributed the decline in net profit to challenging market conditions. “Overall constructio... |