Cement News tagged under: Weekly Newsletter
Dangote Cement inaugurates plant in Rep of Congo23 November 2017, Published under Cement NewsDangote Cement will inaugurate its 1.5Mta cement plant in the Republic of Congo on Thursday. The plant is expected to create approximately 1000 jobs and will become Dangote's 10th fully-operational plant in Africa. The US$500m works produced its first bag of cement on 7 August. Unaudited 3Q results show that the new plant has almost doubled the size of the cement sector in Congo, according to Vanguard. Meanwhile, Dangote Cement saw an increase of 7.5 per cent in pan-African cement sal... |
CRH sees a 3% revenue increase in 3Q1721 November 2017, Published under Cement NewsCRH has reported a three per cent increase in revenue for the third quarter of 2017. The group's EBITDA has also risen two per cent YoY for the 3Q. The company’s trading performance has particularly benefitted from underlying growth in the Americas throughout the period. Elsewhere, the 3Q results from Europe have remained positively consistent with the rest of the year while performance in Asia has deteriorated. CRH has announced for the nine months of 2017 ended September, a two per cent... |
Petcoke ban drives India's North American coal imports to new heights21 November 2017, Published under Cement NewsFears that the Indian government may extend the current ban on petcoke use in the New Delhi Capital Region to the entire country has led to a surge in coal imports from North America, reports Reuters. In October India’s coal imports from North America quadrupled to 2.1Mt when compared with the year-ago period, hitting new heights since January 2015. Moreover, ship tracking data on Thomson Reuters Eikon showed that between 1-20 November such imports are already 70 per cent of last month’s ... |
Indonesian cement demand up 13% in October20 November 2017, Published under Cement NewsCement demand in Indonesia in October 2017 and the first 10 months of 2017 has shown sustained robust growth. The Indonesian Cement Association (ASI) and PT Semen Indonesia expect this trend to continue for a further one or two months before the start of the rainy season. In October domestic cement consumption was 6,754,075t, up 12.5 per cent compared to October 2016, according to ASI. In addition, exports were 272,682t, up 39 per cent of which cement exports were 75,671t, a YoY ris... |
Italy's Antitrust Authority approves Cementir Italia sale20 November 2017, Published under Cement NewsThe Italian Antitrust Authority (AGCM) has approved the sale of Cementir Italia and its subsidiaries Cementir Sacci SpA and Betontir SpA to Italcementi. Following the closing of the transaction, which is expected in the first days of January 2018, Italcementi will be required to adopt certain structural remedies, including the divestiture of some plants and behavioural measures. Italcementi will select the facilities to be divested among those identified by AGCM, which has established pre... |
Star Cement announces 90% net profit increase16 November 2017, Published under Cement NewsStar Cement reported a standalone net profit of INR219.9m (US$3.37m) for the 2Q17 period ended 30 September 2017, a 89.9 per cent increase from the INR108m seen in the year-ago period. The revenue for the company fell to INR2.57bn from INR2.89bn in 2Q16. Star Cement reported EBITDA of INR530m for the second quarter of 2017, according to The Economic Times. The cost of expenses decreased to INR2.32bn from INR2.78bn of the corresponding quarter in 2016. In 1H17 the company saw a net profit... |
Iran-Ghanaian joint venture starts construction of new 0.6Mta cement factory15 November 2017, Published under Cement NewsA 0.6Mta cement factory is being set up as a a joint venture between Ghana and Iran, at the Dawa Industrial Enclave, on the Tema-Aflao road, Ghana. The US$30m Ilam Cement factory is expected to be completed in two years. Ghana's Vice President, Dr Mahamadu Bawumia, was at the ceremony that marked the start of the construction. Iran owns 90 per cent shares in the project with Ghana owning the rest. An MoU was signed earlier this year between Ghana and Iran when the Dr Bawumia visited the... |
Lafarge Africa receive shareholders endorsement for merger15 November 2017, Published under Cement NewsLafarge Africa have received the shareholders endorsement for a merger with Unicem and Atlas Cement Company Ltd, according to Nigerian newspaper The Guardian. "The merger is part of the asset consolidation we began in June 2014. It will solidify our market position in Nigeria particularly our presence in the South-South and South-East regions," said Michel Pucherchos, CEO of Lafarge Africa. Unicem has a cement production capacity of 5Mta at its Mfamosing plant, whilst Atlas has a capaci... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |
Colombia market expands 1% YoY in Sep 201714 November 2017, Published under Cement NewsDomestic grey cement deliveries by Colombian cement producers in September 2017 reached 1.023Mt, up 0.8 per cent YoY and an improvement when compared the 11.2 per cent fall to 1.015Mt reported in September 2016, according to Colombia’s statistics office, DANE. Cement production in Colombia reached 1,025,600t in September 2017. This represents a 0.2 per cent rise YoY from 1,023,600t in September 2016. In terms of geographical distribution of deliveries, Nariño saw the largest increase ... |