Cement News tagged: Corporate
Huaxin Cement Narayani resumes construction work after floods
The construction of Huaxin Cement Narayani’s plant at Dhading district, Nepal, has now resumed after a five-month stoppage due to floods. Incessant rains had damaged the construction site in mid-June this year. "As soon as the festivals were over, 400 Chinese workers including technicians and 300 Nepali workers started working," said Pitta Bahadur Dallakoti, chairperson of Benighat Rorang Ru...
Breedon Group revenues up to GBP800m in 10M19
Breedon Group Plc has released results for the first 10 months to 31 October 2019 with revenues up by eight per cent to approximately GBP800m. The results included a 10-month contribution from the former Lagan Group that was acquired by Breedon in April 2018. Breedon said it had performed well, seeing improved EBIT and continuing robust cash generation during the 10-month period. "These re...
Cemex subsidiary to enter Chinese market
Cemex's venture capital unit has announced that it will be entering the Chinese market through a partnership with Glodon, a local provider of digital platform services for the industry, and Interdream Ventures, a venture capital firm seeking to digitise the construction and decoration industries. "This type of alliance between two joining segments is key to finding new successful business mo...
Cemento Progreso acquires Cemento Interoceánico
Guatemala-based Cemento Progreso has bought a 100 per cent stake in Panamanian cement producer Cemento Interoceánico, according to Panamá América. In an internal communication to its staff, Cemento Interoceánico informed its personnel that labour conditions would remain the same and there would be no change of leadership.
HeidelbergCement outlines plans to raise Indian capacity
HeidelbergCement is expecting to take both organic and inorganic routes to increase capacity to 20Mta from 12Mta in India, according to The Hindu. "We are looking for cement companies with a capacity ranging from 5-10Mta," said J N Cooper, managing director of HeidelbergCement’s Indian operations. “We are in talks with cement firms that do not want to get into the National Company Law Tribuna...
Shree Cement reportedly raising over INR20bn through QIP offering
India’s Shree Cement Ltd is reportedly in an advanced stage of raising more than INR20bn (US$278.36m) through a qualified institutional placement (QIP) offering, according to the Mint. "The money will be used for capex and debt reduction. They have been meeting investors for this purpose and are targeting to close this fundraise within this quarter," said a source for the Mint. "They could ra...
Semen Indonesia sees 41% rise in October sales
Semen Indonesia Group, including SBI, reported a 40.8 per cent rise in sales volumes to 4,771,181t in October 2019 when compared with a volume of 3,388,174t in October 2018. Semen Indonesia, excluding SBI and TLCC, reported a 5.8 per cent uptick in sales to 3,342,839t from 3,159,448t. The company sold 2,877,048t in the domestic market, up 1.4 per cent YoY, and 465,791t to export markets, rep...
Taiwan Cement reports net profits of US$580.9m in 9M19
Taiwan Cement's net profit last quarter rose 10.17 per cent annually to NT$6.54bn (US$214.4m). Net profit in 9M19 increased by 11.14 per cent to NT$17.72bn (US$580.9m), a company record. Taiwan Cement put the strong results down to stable cement prices and a stronger contribution from the company’s coal-fired Ho-Ping power plant in Hualien on the back of falling coal prices. However, revenue ...
Pakistan's FDI shows recovery in 4MFY19-20
Pakistan has received net foreign direct investment (FDI) of US$650m between July and October 2019 period, compared to US$191.9m received in first four months of last year. This represents an increase of 239 per cent YoY, mainly due to high inflow from China and Norway during this period. However, this increasing trend in FDI, did not influence investment in the construction and cement secto...
Premier Cement's two new plants ready for trial operation
Bangladesh-based Premier Cement is on track to complete its expansion plans by March 2020. The project was first announced in 2017 on the back of a forecast surge in demand for 2021. "We have constructed two more units in Narayanganj and Chattogram involving BDT13bn (US$153.5m)," said Mohammed Amirul Haque, managing director, to The Daily Star. The unit in Narayanganj represents an investmen...
Mombasa Cement’s Vipingo plant wins energy-saving award
Mombasa Cement’s Vipingo facility has won Kenya’s national award as the best energy-saving company in the country, according to The Star. The plant has been able to save around KES121m (US$1.19m) in energy costs due to power-saving initiatives. Plant manager Koppal Chandrashekarial said they came up with ideas to save energy due to continued power shortages from Kenya Power and Lighting Co. ...
Thatta’s WHR project to start in 2QFY19-20
Pakistan-based Thatta Cement Co Ltd is currently implementing its waste heat recovery project that will generate 5MW of electricity for the company at its Sindh plant. Commercial operation is expected to start in the second quarter of the current financial year, says the company in its latest quarterly report. In the quarter ended 30 September 2019, overall sales of Thatta Cement fell by 43....
Arabian Cement sees reduced profit in the 9M19
Egypt’s Arabian Cement Co has reported an 85 per cent YoY fall in profit to EGP32.9m (US$2.04m) in the first nine months of 2019, compared to EGP214.8m in the year-ago period. The company’s standalone results declined to EGP32.58m in the 9M19, down from EGP215.1m in the corresponding period of 2018.
Beni Suef Cement records 6% dip in revenue
Egypt’s Misr Beni Suef Cement has noted a 72 per cent YoY profit decline to EGP67.11m (US$4.16m) in the first nine months of 2019, against EGP237.8m in the 9M18. Revenues were also down 6.2 per cent YoY to EGP1.36bn from EGP1.45bn in the January-September 2018 period.
Bengal Cement signs agreement with Hyundai Development Co
Bangladeshi cement producer Bengal Cement Ltd signed an agreement with Hyundai Development Co to supply cement for the US$63m “Super-Specialised Hospital under BMSMMU” project of Bangabandhu Sheikh Mujib Medical University, Shahbag. The 700-bed hospital will be completed on a 53,000m 2 site and provide the largest medical service system in Bangladesh. Bengal Cement Ltd, part of the Bengal...
Sephaku Holdings reports net loss in 1HFY19-20
South Africa’s Sephaku Holdings has reported a loss of ZAR7.7m (US$521,582) for the six months ending 30 September 2019, compared with a ZAR26.5m net profit in the year-ago period. In particular, Sephaku Cement (Dangote Cement) announced a ZAR21.6m net loss against a ZAR44.9m profit in the corresponding period of the previous fiscal. Sales revenue decreased 16.9 per cent YoY to ZAR996.9m fro...