Cement News tagged under: Weekly Newsletter
Thomas Schmidheiny and Bertrand Collomb retire from LafargeHolcim Board of Directors04 April 2018, Published under Cement NewsThomas Schmidheiny has taken the decision not to stand for re-election at LafargeHolcim’s upcoming Annual General Meeting on 8 May 2018, according to a company press statement. Mr Schmidheiny has been with the Group for almost 50 years in different management functions and later on the Board of Holcim. Following the merger, Thomas Schmidheiny has been a Board member of LafargeHolcim since 2015. He will remain one of the Group’s main shareholders. In recognition of his many years of service... |
Cementir Holding completes acquisition of Lehigh White Cement Co stake04 April 2018, Published under Cement NewsCementir Holding completes today the acquisition of an additional 38.75 per cent stake in Lehigh White Cement Co. The acquisition of the stake from HeidelbergCement-owned Lehigh Cement Co LLC was announced on 14 February 2018 and purchased at a price of US$106.6m, on a cash and debt-free basis. Following the transaction, Cementir will hold 63.25 per cent of shares in Lehigh White Cement Co, with the balance of shares owned by Cemex Inc. The purchase allows Cementir to directly manage ... |
Tanzania Portland Cement's profits fall to TZS35.5bn in FY1703 April 2018, Published under Cement NewsTanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016. According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs. Income tax nearly doubled to TZS30bn in 2017 from TZS17.6bn in 2016, while costs of sale also went up to TZS184bn from TZS170bn in 2016. ... |
Bangladesh plans dry-process conversion at Chhatak03 April 2018, Published under Cement NewsBangladesh Chemical Industries Corporation (BCIC), owned by the Bangladeshi Ministry of Industries, is still looking for an engineering and construction contractor to convert the Chhatak cement plant into a dry-process plant in northeast Bangladesh. To allow more time for international companies to submit their bids, BCIC has extended bid due date to 23 April 2018. The Chhatak factory was established in 1937 by Assam Bengal Cement Company at Chhatak Upazila in Sunamgonj district. Acco... |
Titan's 2017 turnover remains stable at EUR1506m28 March 2018, Published under Cement NewsTitan's 2017 consolidated turnover remained stable, at EUR1505.8m, a marginal 0.2 per cent decline compared to 2016. EBITDA reached EUR273.4m, a 1.9 per cent decrease. Non-recurring events (staff redundancy programmes in Egypt and Greece and hurricane Irma in Florida) had a negative impact on EBITDA of about EUR1m, against EUR6.7m of such costs in 2016. Net profit after minorities and the provision for taxes was EUR42.7m, compared to EUR127.4m in 2016. Annual results strengthened on t... |
Vietnam cement sales rise 5% in March28 March 2018, Published under Cement NewsVietnam sold an estimated 7.96Mt of cement in March, representing a 4.5 per cent MoM increase and 25 per cent of the full-year target, according to the Vietnam Building Material Association. Domestic market sales rose 12.6 per cent MoM to 5.56Mt but fell 11 per cent on the year-ago period. The figure includes 2.1Mt sold by the Vietnam Cement Industry Corporation (Vicem). The country’s exports reported significantly positive results, advancing 30 per cent YoY to 2.3Mt. In the 1Q18 ... |
Algeria's Aoulef works exports first cement to Niger28 March 2018, Published under Cement NewsEl-Hamel-owned Aoulef cement plant, in Adrar, Algeria, carried out the first Algerian cement exports to Niger, according to Minister of Industry and Mines, Youcef Yousfi. The new plant, which entered service in December 2017 exported 950t of cement overland to Niger – the first of regular shipments. The 1.5Mta Aoulef cement facility plans to exports around 1Mta of its output. "With these export operations, Algeria has thus shifted from [being] a large importer of cement to an exporti... |
Ecebol's Oruro plant scheduled for dry testing by July28 March 2018, Published under Cement NewsEcebol's plant under construction in Caracollo, Bolivia, is expected to undergo testing in the middle of this year, according to Oruro Governor, Víctor Hugo Vásquez, who inspected the works on Tuesday. "With satisfaction we can say that the advance [of the works] is over 95 per cent, only five per cent is missing, which is likely to be concluded in May or June, because from June or July dry runs will start and in October the facility would start processing raw materials. This means that a... |
Yanbu Cement begin cement and clinker exports27 March 2018, Published under Cement NewsYanbu Cement Co has signed a one-year agreement to export 1Mt of clinker and 0.5Mt of cement as of April 2018. The company added that the deal is expected to boost company's revenues by SAR100m (US$26.6m) during FY18. Analysts EFG Hermes estimates that the cement producer will sell cement at SAR140/t (a discount to prevailing 4Q17 price it had reported but substantiated given large quantities) and clinker at SAR65/t (which is close to its cost of SAR60/t). EFG Hermes assume the total agr... |
HeidelbergCement reports record 201722 March 2018, Published under Cement NewsDespite a challenging environment, HeidelbergCement has announced at 14 per cent YoY increase in revenues to EUR17.3bn in 2017 from EUR15.2bn in 2016 although on a pro-forma basis, ie taking into account the contributions of Italcementi for the 1H16, the increase was more modest at two per cent. The company's sales volumes of cement, aggregates and ready-mixed concrete increased significantly and reached new records, particularly due the acquisition of Italcementi. Total cement sales reac... |