Cement News tagged under: Weekly Newsletter
San Miguel, Northern Cement form JV30 August 2017, Published under Cement NewsSan Miguel Corp (SMC) has formed a joint venture with Northern Cement Corp to establish a cement plant in Sison, Pangasinan, Philippines. The joint venture company will be controlled by SMC via a 70 per cent stake while the remainder of shares is owned by Northern Cement, which is owned by SMC chairman, Eduardo Cojuangco Jr. Tycoon Ramon Ang is president of both SMC and Northern Cement. “SMC and Northern Cement Corp have agreed to organize and establish a joint venture corporation for... |
Bamburi posts decline in half-year profit29 August 2017, Published under Cement NewsBamburi Cement posted a 36 per cent decline in its half-year net profit to KES1.8bn (US$17.4m) compared to a KES2.8bn recorded in the first six months of 2016. Turnover stood at KES17.5bn which is KES1.6bn behind prior year while operating profit reduced from KES4.1bn to KES2.7bn. Management attributed the decline to a difficult business environment in Kenya characterised by a contracting market, low private sector investment resulting in a slump in construction activity, especially in ... |
Kohat seeks environmental clearance for expansion project29 August 2017, Published under Cement NewsKohat Cement Company is seeking environmental clearance for the construction of 7800tpd in additional capacity at its plant in Kohat, northern Pakistan. The Environmental Protection Agency (EPA) of Khyber Pakhtunkhwa province has received the application from Kohat Cement, according to local sources. Comments in favour or against the environmental approval of the said project are invited to be submitted to the EPA's director general within a period of 30 days from the date of issuance of... |
Positive outlook for German cement demand24 August 2017, Published under Cement NewsCement consumption in Germany rose by approximately 3.2 per cent YoY in 2016 to 27.5Mt, with the positive trend expected to continue this year, according to German Cement Works Association VDZ. "Housing, traffic infrastructure and non-residential construction – the momentum for the German cement market came from all the relevant sectors of the building industry," is how VDZ President, Christian Knell, sums up the development of cement consumption in 2016. In Germany the construction indust... |
Bestway and Cherat show good financial results24 August 2017, Published under Cement NewsBestway Cement Ltd has announced earning a profit of PKR13.29bn (US$126m) for the financial year ended 30 June 2017, against PKR11.88bn in corresponding period last year. This showed profits jumped by 12 per cent for the Pakistan-based cement producer. The company announced a final cash dividend of PKR3/share, which is in addition to interim dividend already paid at PKR9/share. Gross turnover stood at PKR71.44bn, increased from PK58.54bn of last year. The company incurred selling an... |
Summit Materials reports rise in 2Q net income23 August 2017, Published under Cement NewsSummit Materials reported a 15.9 per cent YoY rise in 2Q17 net revenue to US$478.4m, primarily attributable to acquisition-related contributions, increased organic sales volumes across all lines of business, together with improved organic average selling prices in cement and ready-mix concrete. Operating income increased by 75.6 per cent to US$82.4m in the second quarter 2017, when compared to the prior year period. Adjusted EBITDA increased 17.9 per cent YoY to US$135.2m, versus US$114.7... |
Anhui Conch Cement Co revenue up 33.1%22 August 2017, Published under Cement NewsAnhui Conch Cement Co Ltd said revenue for the first six months ended 30 June 2017 increased by approximately 33.1 per cent YoY to CNY31,907.92m (US$4794m). Profit attributable to equity shareholders amounted to CNY6.7bn, representing an increase of approximately 100.64 per cent over the corresponding period of last year. The company attributed the boost to a ‘significant’ increase in prices and continued discipline with production and operation costs. During the period the group real... |
PPC 1Q17 results in line with expectations21 August 2017, Published under Cement NewsPPC revenue for the period ended 30 June 2017 (1Q17) is ahead YoY while group EBITDA is in line with the year-ago period. The advance has been attributed to good cost management. Johan Claassen, interim CEO, said: "Our focus is firmly on delivering improved profitability and liquidity in the shorter term while our longer term strategy remains unchanged. More specifically, we will focus our management effort on the new operations in the DRC and Ethiopia, ensuring that they deliver to expec... |
Ohorongo opens Ondangwa depot21 August 2017, Published under Cement NewsNamibian cement producer Ohorongo Cement was host to Clemens Kashuupulwa, governor of the Oshana region, who opened the company’s new cement depot in Ondangwa. The land is owned by TransNamib and the cement company will use the Tsumeb Ondangwa railway for the first time since it was built, according to the Namibia Economist, who hails the project as the first real public private partnership to be given tangible life. The new depot will supply cement to traders in the Ohangwena, Oshana ... |
West China Cement sees improved operating environment17 August 2017, Published under Cement NewsWest China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s... |