Cement News tagged under: ACC

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Indian Railways to cut fees to win back cement business

13 April 2017, Published under Cement News

In response to cement producers shifting away from transporting their output by rail, Indian Railways has announced that it plans to reduces charges for firms that can guarantee that at least a specified volume of freight goes by rail, Mint reports. In January 2017 Indian Railways carried around 6Mt of cement, down 15 per cent YoY. Higher freight charges have been blamed for the decline, with producers shifting transport onto the roads as a result. To combat this, the Ministry of Railw...

India: ACC Cement announces capex plan of INR6bn for 2017

30 March 2017, Published under Cement News

ACC Cement have announced a capital expenditure plan of INR6bn (US$92.4m) for the coming financial year, CEO and Managing Director, Neeraj Akhoury, said at the company's annual general meeting. Mr Akhoury said the outlay will be used for various projects. The company reported a profit of INR6.04bn for the year ending 31 December 2016, up from INR5.87bn in 2015 and registering a growth in profit of 2.9 per cent. Revenue stood at INR11.27bn, down by 5.39 per cent since last year at INR11.91...

LafargeHolcim

02 March 2017, Published under Cement News

The Indian subsidiary ACC Ltd reported a 2.7 per cent reduction in cement deliveries for 2016 to 22.99Mt, while in the fourth quarter the reduction was 9.1 per cent to 5.45m, slightly less than the 9.6 per cent to 5.07Mt seen in the third quarter. Ready-mixed concrete deliveries, however, rose by 10.7 per cent to 2.59Mt. Volumes are expected to show increases during 2017.  The turnover declined by 4.3 per cent to INR109.46bn (EUR1.56bn/US$1.64bn) while  EBITDA came off by 7.5 per cent to ...

After the monsoons

01 March 2017, Published under Cement News

While the demonetisation of the Indian economy has seen cement sales significantly drop, the country’s cement producers are waiting for the positive medium-term effects of good monsoons to kickstart an acceleration in demand growth. Ambuja Cement saw a 6.6 per cent YoY drop in Jul-Sep sales in 2016 Uncertainty has once again eclipsed the growth of India’s 420Mta cement sector. Good monsoon rains with uniform spread across India in the July-September period have taken a toll on c...

ACC appoints Neeraj Akhoury as MD and CEO

08 February 2017, Published under Cement News

Neeraj Akhoury took office on 7 February as new managing director and CEO of ACC. Mr AKhoury joins ACC from Lafarge Surma Cement, where he was CEO. "This is an exciting phase for the company and the cement industry as the government moves ahead with its agenda for transformative economic growth," he was quoted as saying. Mr Akhoury added he will focus on customer service, operating performance and cost competitiveness.

India: ACC reports 2.7% advance in net profit in 2016

07 February 2017, Published under Cement News

The Indian LafargeHolcim subsidiary ACC Ltd reported a 2.7 per cent reduction in cement deliveries for 2016 to 22.99Mt, while in the 4Q16 the reduction was 9.1 per cent to 5.45m, slightly less than the 9.6 per cent to 5.07Mt seen in the 3Q16.  Ready-mixed concrete deliveries, however, rose by 10.7 per cent to 2.59Mt.  Volumes are expected to show increases during 2017. The turnover declined by 4.3 per cent to INR109.46bn (US$1.62bn) while EBITDA came off by 7.5 per cent to INR14.21bn. The...

LafargeHolcim expected to announce merger deal for ACC and Ambuja Cements

06 February 2017, Published under Cement News

LafargeHolcim, the parent company of ACC and Ambuja, is considering merging its two Indian cement majors, sources told CNBC-TV18. LafargeHolcim owns 63 per cent in Ambuja Cements. In November last year, the parent company had increased its stake in ACC and Ambuja Cements by four and two per cent, respectively. Ambuja Cements, already owns a 50.05 per cent stake in ACC. LafargeHolcim said it did not wish to comment on speculation, but sources tell CNBC-TV18 that the merger is likely to hap...

India: Seven cement firms fined for bid-rigging

20 January 2017, Published under Cement News

The Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen...

India: LafargeHolcim increases stake in Ambuja and ACC

16 November 2016, Published under Cement News

LafargeHolcim has increased its shareholding in Ambuja Cement through the purchase of an additional 39.1m shares, increasing the Franco-Swiss firm’s stake by 1.49 per cent to 63.1 per cent. LafargeHolcim also increased its stake in ACC – since mid-2016 a subsidiary of Ambuja – with the purchase of 7.9m shares, taking its stake to 4.5 per cent. The cost of the two purchases amounts to CHF325m (US$324m). 

Ambuja Cement profits up 80% as Indian profits climb 40% overall

04 November 2016, Published under Cement News

Ambuja Cement has released its Q3 earnings, which show that net profits for the company were up by 80 per cent YoY at INR2.77bn (US$41.5m). Revenues were down slightly, falling by 4.3 per cent to INR20bn, but dividend income from its shareholding in ACC and falling costs, particularly in terms of power and fuel (down 10 per cent) helped to improve the company’s bottom line. Ambuja reported that diesel costs rose over the period, but this was compensated for by an improved fuel mix. ...