Cement News tagged under: corporate

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Yanbu Cement sees a 33% rise in net profit

16 October 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has seen a 5.4 per cent YoY increase in revenue to SAR240m (US$64m) for the third quarter of 2020, against SAR227.97m in the 3Q19. The company also saw a 33.2 per cent YoY rise in net profit to SAR82.48m from SAR61.94m in the year-ago period. The improvement was attributed to higher revenue and lower expenses.   Over the nine-month period ended 30 September, Yanbu recorded a net profit of SAR210.12m, up 20 per cent YoY from SAR174.9m in the 9M19.

INC raises cement price

16 October 2020, Published under Cement News

Paraguayan cement producer INC has increased the price of a bag of cement by PYG2500 (US$0.42). The company is now selling cement for PYG39,800/bag. The company has attributed the need to increase cement prices due to higher transport costs. The low water level in the Paraguay river has led to the need to use trucks to move raw materials and has also resulted in cement shortages in the country. INC is aiming to maintain supply at 35,000-40,000 bags/day.

Raysut Cement reports 5% fall in revenue

15 October 2020, Published under Cement News

Oman’s Raysut Cement has announced its unaudited results for the 9M20, reporting a five per cent YoY fall in revenue to OMR65.24m (US$169.67m) from OMR62.13m in the year-ago period. The company also saw a OMR10.65m loss after tax for the nine months ending September 2020, compared to an OMR1m profit in the 9M19.

Chryso acquires majority stake in APTEX

15 October 2020, Published under Cement News

The Chryso Group has signed of an agreement to acquire a majority stake in APTEX, a Moroccan construction chemicals company. The Chryso brand has made construction chemicals for the Moroccan market for more than 30 years, while APTEX has been operating for two years in the country, and has a production unit and an application laboratory located in Casablanca. The Chryso-APTEX joint venture will provide cement manufacturers, concrete and precast producers, applicators, construction comp...

Dalmia Cement announces CFO resignation

15 October 2020, Published under Cement News

India’s Dalmia Cement (Bharat) has announced the resignation of Jayesh Nagindas Doshi from the position of whole-time director and chief financial officer. The board has approved to relieve Jayesh Doshi from the closure of business hours on 31 October 2020.

Premier Cement sets date for production at new units

14 October 2020, Published under Cement News

Bangladesh’s Premier Cement is yet to begin production at two of its new manufacturing units despite being fully-prepared in March, as a few key foreign experts and employees could not return to Bangladesh due to the COVID-19 pandemic. "We could not start production within the stipulated time due to the absence of some technical experts and workers from China and Denmark," said Mohammed Amirul Haque, managing director. After operating on a trial basis for a month, the units were schedu...

Raysut Cement acquires 75% stake in Maldives terminal

14 October 2020, Published under Cement News

Oman’s Raysut Cement Co has announced that its has acquired a 75 per cent stake in LafargeHolcim’s cement terminal at Thilafushi Island in the Maldives. As a result, it has formed a new joint venture, Raysut Maldives Cement Pvt Ltd. The new entity, with the State Trading Organisation (STO) of Maldives owning 25 per cent, has plans to expand the terminal's capacity from 75,000tpa to over 200,000tpa. The terminal will be owned and operated by the RCC-STO joint venture entity. "The Maldiv...

Cemex secures green financing

14 October 2020, Published under Cement News

Cemex SA de CV has closed the amendment process under its facilities agreement, dated 19 July 2017. Cemex is extending US$1.1bn of term loan maturities by three years from 2022-25 and approximately US$1.1bn of commitments under the revolving credit agreement by one year from 2022 to 2023. Cemex is also prepaying US$530m corresponding to the July 2021 amortisation under the facilities agreement to institutions participating in the extension. The Mexican company will renominate US$313m of ...

Buzzi Unicem proposes mandatory conversion of saving shares into ordinary shares

12 October 2020, Published under Cement News

Buzzi Unicem has announced its intention to convert savings shares into ordinary shares to streamline and simplifying the capital structure of Buzzi Unicem SpA, as well as at reducing corporate obligations and costs associated with the existence of different categories of shares. The Board of Directors of Buzzi Unicem SpA resolved to submit the proposal to shareholders for the mandatory conversion of savings shares into ordinary shares (the 'Conversion'), on the basis of a conversion rati...

Taiwanese manufacturers report 9M20 results

12 October 2020, Published under Cement News

Taiwan Cement Corp has seen a 3.7 per cent YoY fall in September revenue to TWD9.75bn (US$340.96m) from TWD10.12bn in the same month last year. In the first nine months of 2020, revenue declined 6.1 per cent to TWD82.25bn from TWD87.56bn. Elsewhere, Lucky Cement saw its September revenue advance 21.9 per cent YoY to TWD380.77m from TWD312.44m in the year-ago period. In the 9M20, revenue climbed 26.3 per cent YoY to TWD3.36bn from TWD2.66bn.