Cement News tagged: Corporate
Asia Cement to purchase additional stake in Chiahui Power
Japan-based Electric Power Development Co, also known as J-Power, is planning to sell its entire stake in Chiahui Power to Taiwan’s Asia Cement for TWD5.37bn (US$183m). The share sale is subject to the approval of Taiwan’s authorities. Asia Cement, by purchasing the 39.97 per cent share, will raise its stake in Chiahui Power to 99.7 per cent. J-Power initially acquired the Chiahui Power...
Taiwan's producers see decline in August revenue
Taiwan’s Universal Cement Corp has reported a 3.5 per cent YoY decline in August revenue to TWD366.9m (US$12.5m), against TWD380.4m in the same month of 2019. However, in the January-August 2020 period, the company posted an 8.7 per cent YoY rise in revenue to TWD3.44bn from TWD3.16bn. Elsewhere, Hsing Ta Cement saw a 14 per cent fall in August 2020 revenue to TWD625.7m from TWD727.9m last y...
Breedon welcomes CMA announcement on Cemex asset acquisitions
Breedon welcomes today's announcement from the Competition and Markets Authority (CMA) that it has reasonable grounds for believing that the undertakings offered by Breedon in connection with its completed acquisition of certain assets and operations from Cemex, or a modified version of them, might be acceptable. These undertakings will require the divestment of a small number of ready-mixed...
National Cement to boost production and build new plant
Ethiopia’s National Cement (East African Holdings) is currently conducting a study at its plant in Dire Dawa to boost its 3000tpd capacity by 30 per cent. "We are planning to start implementing this plan and start producing 4000t of cement per day within the coming six months," said Buzuayehu Tadele Bizenu, board chairman of East African Holdings. Last year, the company produced over 1.2...
CARRILU inaugurates DRC cement plant
The Minister of Industry of the Democratic Republic of Congo (DRC), Julien Paluka, has officially opened the Carrière de Lualaba (CARRILU) cement works in Kolwezi, Lualaba province, DRC. The company also includes a stake by the China-based Zijin group. The new works is expected to produce 1500tpd of grey cement to serve the local market. In addition, it will provide employment to at least ...
Lucky Cement posts 23% rise in August revenue
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
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
Fauji Cement Co Ltd declared a loss of PKR59m (US$0.355m) for the year ended 30 June 2020. The company earned PKR2.824bn in the year ended 30 June 2019. “FCCL’s topline witnessed a decline of 27 per cent YoY to PKR3.75bn during 4QFY20 led by weaker retention prices as well as an 11 per cent dip in dispatches to 705,000t (local off-take dwindled by five per cent YoY to 700,000t),” reported Ari...
Cemex España seeks authorisation for Cemex Latam public offering
Cemex España has requested the authorisation of the Financial Superintendency of Colombia (SFC) to begin a public offering of every ordinary and outstanding share of Cemex Latam registered in the National Register of Securities and Issuers of Colombia and the Colombian Securities Exchange. The public offering is expected to be addressed to all Cemex Latam shareholders, with the exception of...
Tourah Cement loss contracts 67% in 1H20
Tourah Cement reported a 67 per cent fall in net losses to EGP-151.97m (US$-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
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
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 C...
Yguazú Cementos recommences output but shortage remains
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...
West China Cement to raise US$102m in private placement
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 of...
Argos supplies Túnel de la Línea mega-project in Colombia
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 cou...
EAPC restructuring enters final phase
The restructuring of East African Portland Cement Co (EAPC)’s human resources in Kenya is entering its final phase with 270 employees seeing their permanent contracts converted to contract terms. Speaking during a consultative meeting with the permanent staff, the acting MD, Stephen Nthei, said the strategic objective is to reduce administrative costs as outlined in the turnaround strategy ad...