Cement News tagged under: corporate

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Lucky Cement posts 23% rise in August revenue

09 September 2020, Published under Cement News

Taiwan’s Lucky Cement has announced a 22.9 per cent YoY rise in August revenue to TWD366.8m (US$12.5m) from TWD298.5m in the same month of 2019. In the first eight months of 2020, the company posted a 26.9 per cent YoY advance in revenue to TWD2.98bn from TWD2.3bn.

Fauji Cement announces new director

09 September 2020, Published under Cement News

Pakistan’s Fauji Cement Company Ltd has announced the appointment of Imran Moid as a director of the company, with effect from 7 September 2020. Mr Moid will take the place left by the departure of Rehan Laiq. The announcement follows news of the company’s results earlier this week.

Fauji Cement posts FY2020 loss of PKR59m

08 September 2020, Published under Cement News

Fauji Cement Co Ltd declared a loss of PKR59m (US$0.355m) for the year ended 30 June 2020. The company earned PKR2.824bn in the year ended 30 June 2019. “FCCL’s topline witnessed a decline of 27 per cent YoY to PKR3.75bn during 4QFY20 led by weaker retention prices as well as an 11 per cent dip in dispatches to 705,000t (local off-take dwindled by five per cent YoY to 700,000t),” reported Arif Habib Ltd in its analysis. In FY20 the topline suffered a decline of 17 per cent YoY as lower re...

Cemex España seeks authorisation for Cemex Latam public offering

08 September 2020, Published under Cement News

Cemex España has requested the authorisation of the Financial Superintendency of Colombia (SFC) to begin a public offering of every ordinary and outstanding share of Cemex Latam registered in the National Register of Securities and Issuers of Colombia and the Colombian Securities Exchange. The public offering is expected to be addressed to all Cemex Latam shareholders, with the exception of those owned by Cemex España or Cemex Latam. The bid review is estimated to take between 2-4 weeks. ...

Tourah Cement loss contracts 67% in 1H20

07 September 2020, Published under Cement News

Tourah Cement reported a 67 per cent fall in net losses to EGP-151.97m (US$-9.6m) in the 1H20 when compared with EGP461.25m reported in the 1H19, according to Mubasher. However, sales dropped to EGP83.8m between January-June 2020 from EGP473.2m in the year-ago period, according to a bourse disclosure on Sunday.

Suez Cement consolidated losses increase in 1H20

07 September 2020, Published under Cement News

Egypt-based Suez Cement sales decreased to EGP2.7bn (US$170.9m) during the January-June 2020 period, down from EGP3.3bn in the 1H19. The company’s consolidated financial statements also showed a 99 per cent YoY increase in its net losses to EGP-709.31m in the 1H20, compared to EGP-356.49m. Standalone losses amounted to EGP-463.3m from EGP590.5m in the year-ago period.

CIMAF Gabon inaugurates second line

04 September 2020, Published under Cement News

Ciments d’Afrique (CIMAF) Gabon has inaugurated its second production line at the Owendo plant. The 0.35Mta line will lift the plant’s total capacity to 0.85Mta after an investment of XAF9bn (US$16.3m). It includes a new-generation 50tph crusher and two 500m3 storage silos. To optimise production the company plans a further XAF65bn investment to build a clinker production plant. At present CIMAF Gabon leads Gabon’s cement market. The country has a total annual output of 1.2Mta, double the ...

Yguazú Cementos recommences output but shortage remains

04 September 2020, Published under Cement News

Paraguay-based Yguazú Cementos SA has restarted production and while operating at full capacity, the cement shortage in the Latin American country currently persists. The company does not expect a change in the market situation as it is faced with cost overruns and Portland cement imports. Yguazú Cementos SA reported that it completed the repair of a broken-down transformer, which had caused the plant to halt production. “Our plant is already operating at full capacity. We once again exten...

West China Cement to raise US$102m in private placement

04 September 2020, Published under Cement News

West China Cement Ltd has announced to raise CNY700m (US$101.9m) in a second tranche of private placement of medium-term notes to investors in China. The tranche has a term of three years and form part of the Medium-Term Notes of Yaobai Special Cement Group Co Ltd. The Agricultural Bank of China Ltd is acting as underwriter and China LIanhe Credit Rating Co Ltd as financial advisor of the offering. Proceeds of the second tranche will be used as general working capital of the group.

Argos supplies Túnel de la Línea mega-project in Colombia

04 September 2020, Published under Cement News

Colombia-based Argos has supplied up to 0.7Mm 3 of specialised and high-resistance ready-mix concrete and more than 220,000t of cement for the Túnel de la Línea. To supply the project in real-time the company has installed five plants on site. “We are proud to have participated as allies in the construction of this mega-work that represents a great milestone for the infrastructure of our country and Latin America. This was a project that represented great logistical and technical challenge...