Cement News tagged under: Weekly Newsletter
Egypt: Arabian Cement to reduce US$ loans30 January 2017, Published under Cement NewsThe Arabian Cement Company plans to accelerate the repayment of US dollar loans owed to banks during the current year to decrease the total value of these debts to EGP40m (US2.1m), compared to EGP65m (US$3.46m) in 2016. An official at the Arabian Cement Company told Daily News Egypt that the company made the decision to avoid the high cost of dollar debts after the Egyptian pound’s floatation in November, which increased the dollar price from EGP8.88 to more than EGP19. The source added... |
India Cements Ltd announce 3Q16 profits of US$519.6m30 January 2017, Published under Cement NewsIndia Cements Ltd registered net profit at INR35,340m (US$519.6m) for the third quarter ending 31 December 2016 in the back of strong sales volume and lesser cost of production. The cement company registered net profit at INR3160m during the corresponding quarter of the previous year. For the nine-month period, net profit surged to INR141,730m from INR79,460m registered during the year ago period. Declaring the results, India Cements Ltd Vice Chairman and Managing Director, N Srinivasa... |
Pakistan: Attock Cement net profit of US$13.1m30 January 2017, Published under Cement NewsAttock Cement Ltd has announced a net profit of PKR1.378bn (US$13.1m), translating into the earnings/share (EPS) of PKR12.03 for the half-year ended 31 December 2016, which is 19 per cent higher than the profits of PKR1.152bn, and the EPS of PKR10.07 announced during the same period of the last year. The surge in profitability can be attributed to higher sales, which stood at PKR7.228bn for the period under review as compared to the sales of PKR6.396bn during the same period of the last ye... |
Spanish cement market contracts 3.1% in 201626 January 2017, Published under Cement NewsCement demand in Spain closed at 11,140,639t in 2016, representing a 3.1 per cent YoY fall, according to Oficemen, the country's cement association. In December, domestic cement consumption dropped 3.8 per cent to 804,372t when compared with December 2015. Exports have to some extent offset the contraction of the Spanish market, rising 5.6 per cent YoY to 9,732,631t. Oficemen expects the market to stagnate in 2017 with growth below one per cent, depending on the trend in residential c... |
Cemex and GCC announce offering to sell 23% stake in GCC26 January 2017, Published under Cement NewsCemex, SAB de CV and Grupo Cementos de Chihuahua, SAB de CV (GCC) announced that they will commence offerings that are expected to include an aggregate of up to 76,483,332 shares of common stock of GCC, currently owned by Cemex at a price range of between MXN95.00 to 115.00/share, Cemex currently directly owns 23 per cent of the outstanding share capital of GCC and, additionally, a minority interest in CAMCEM, an entity which owns a majority interest in GCC as a result of GCC’s previously... |
Eagle Materials improves profit by 44 per cent25 January 2017, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2016 increased by 3.7 per cent to US$1.01bn. The trading profit before corporate overheads showed a strong recovery and rose by 37.5 per cent to US$283.9m, of which cement contributed 44.9 per cent compared with 56.2 per cent a year earlier. The group trading profit was ahead by 42.5 per cent to US$256.1m. After a net interest charge 22.8 per cent higher ... |
Algeria: thyssenkrupp awarded 6000tpd plant order25 January 2017, Published under Cement NewsSociété des Cements Sigus, a subsidiary of Groupe Industriel des Cements d'Algerie (GICA), has placed an order with thyssenkrupp Industrial Solutions for a new 6000tpd plant. The plant will be located in Sigus, Oum El Bouaghi, around 340km east of Algiers. This order follows a previous contract with GICA for a 6000tpd plant which was signed in 2013. The main components of the order include a 1600tph primary crusher, a 500tph secondary crusher for additives, a 75,000t circular blending bed... |
Russia: Sibirsky Cement reports 17% drop in output24 January 2017, Published under Cement NewsProduction at the Russian cement company Sibirsky Cement fell 17 per cent YoY to 3.169Mt in 2016, said the company in a statement. The company attributed to declining sales to contracting domestic demand. Sibirsky expects demand for cement to fall 8-10 per cent to 4.7-4.8Mt in 2017. Output at Topkinsky Cement, Kemerovo region, declined 22 per cent YoY to 2.15Mt in 2016 while Krasnoyarsky Cement saw production slip three per cent to 752,500t. The Timlyuisky plant posted a 10 per cent d... |
UK: Ribblesdale plant begins GBP25m upgrade project23 January 2017, Published under Cement NewsHanson is implementing a seven-year project at Ribblesdale cement works in Clitheroe, Lancashire, to improve production efficiency and emissions. In the first six months of the GBP25m project, GBP11m is being spent on improvements and maintenance to enable the plant to meet and exceed new dust emission regulations. This project represents the plant's biggest capital investment programme since the 1990s and includes a GBP2m replacement of the dust filters on two cement grinding units. Pla... |
Zimbabwe: Redcliff plant complete20 January 2017, Published under Cement NewsChinese firm Mortal Investments Manufacturing has completed the construction of a US$20m cement plant in Redcliff, Zimbabwe. Initial production is slated to commence at the beginning of February, according to Wang Dongning, CEO of Mortal Investments. Mr Wang said they have completed the test run of the plant and were now awaiting the green light from the International Organisation for Standardisation (ISO) and an Environmental Impact Assessment (EIA) from Environmental Management Agency. ... |