Cement News tagged: Corporate
Al-Maslamia cement plant expected to be privatised
The Al-Maslamia cement plant in northern Aleppo, Syria, has been the subject of negotiations between Katerji International Group and Syria's General Organisation for Cement and Building Materials. The 3Mta cement plant could be the first state plant to be privatised in a SYP200bn (US$3.9m) investment by the Katerji family. The Katerji International Group is owned by the brothers Husam, Moha...
Attock Cement profit falls 16% in 1QFY19-20
Attock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period. Other factors that led to the profit f...
GuarantCo files a petition for insolvency against Calcom Cement
Mauritius-based GuarantCo has filed a petition for insolvency against Calcom Cement India (Dalmia Cement (Bharat)), regarding an alleged non-payment of around INR1bn (US$14m). GuarantCo, a financial creditor of the cement manufacturer, filed the insolvency petition against the company at the Guwahati bench of the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Ban...
LafargeHolcim and ADEME Occitanie inaugurate new waste processing plant
LafargeHolcim and the French environment and energy agency ADEME have inaugurated a new solid waste processing plant at LafargeHolcim’s Port-la-Nouvelle. The facility will process non-hazardous solid waste into to an alternative fuel for the cement plant. The EUR7.5m investment will enable the Port-la-Nouvelle works to target a thermal substitution rate of over 90 per cent by 2022 and as a r...
Raysut Cement sees 9% decline in revenue for 9M19
Oman’s Raysut Cement Co has announced an 8.5 per cent fall in total revenue to OMR62.13m (US$161.58m) in the nine months ended 30 September 2019, compared with OMR67.89m in the year-ago period. Profit before tax declined 65 per cent YoY to OMR1.01m in the 9M19, while profit after tax decreased 49.2 per cent to OMR1.01m from OMR1.99m.
Holcim Croatia acquires Readymix Croatia
Holcim Croatia has acquired Readymix Croatia and is expected to invest in a newly-acquired quarry site following the transaction. Although the financial details of the deal were not released, the company noted that it is its fourth quarry in the domestic market. The quarry site in Vranje, Lupoglav, is strategically located due to construction projects that will take place in this area over t...
Kwanza Sul to increase output to 1.05Mta
From 2020 Fábrica de Cimento do Kwanza-Sul (FCKS) plans to increase production at its Sumbe plant in Angola to 70 per cent of its 1.5Mta cement capacity, according to its Director of Human Resources and Administration, Joaquim Manuel. This will lift output to 1.05Mta. Achieving an output of 1.05Mta will enable the company to meet the growing demand from public and private projects. At presen...
FLSmidth adjusts 2019 EBITDA guidance
FLSmidth revises its financial guidance for the full-year 2019. Revenue is now expected to be in the range of DKK20-21bn (US$2.95-3bn). The EBITA margin is now expected to be around eight per cent down from previous estimates of 9-10 per cent. Return on capital employed is now expected to be 10-12 per cent (previously 12-14 per cent). FLSmidth specified that it expected the full-year EBITA ...
Semen Indonesia replaces Holcim brand with Dynamix
After being acquired by PT Semen Indonesia (Persero) Tbk, PT Solusi Bangun Indonesia Tbk (SBI) has changed its Holcim cement brand to Dynamix. The name change was carried out as an effort to strengthen competitiveness in an increasingly-competitive national market, said the company. SBI President Director, Aulia Mulki Oemar, said that the brand replacement was part of the company's transforma...
Al Tasnim Cement opens ready-mix plant in Oman
Al Tasnim Cement Products Division has launched its new ready-mix plant in Duqm, Al-Wusta, Oman. The plant is situated in the industrial Special Economic Zone and will produce durable concrete. This new ready-mix factory has an installed capacity of 425m 3 /h, and is suported by three batching plants in Duqm and one onsite batching plant in RaMakaz. Pankaj Zaveri, director at Al Tasnim Cemen...
Sharjah Cement elects new chairman
UAE-based Sharjah Cement has elected Othman Mohammed Sharif Abdullah as its new chairman and board member, according to a bourse statement on Sunday. The election was made during the company’s board meeting on Saturday, 12 October 2019.
Premier Cement Mills Ltd has new CEO
Tarique Kamal has recently joined Premier Cement Mills Ltd of Bangadesh as chief operating officer (COO) effective from 1 October 2019. He was previously head of sales and distribution at Arla Foods Bangladesh, according to a company statement. He also worked at British American Tobacco Bangladesh. He obtained his bachelor's and master's degrees from the Institute of Business Administration...
Carthage Cement adopts financial restructuring plan
Tunisian cement producer Carthage Cement has presented its 2019-23 business plan. In terms of financial restructuring Carthage Cement will carry out a capital increase of TND223,774,733 and see its share capital rise to TND395,909,146. The share issue price is TND1.20 (TND1 nominal value and TND 0.20 issue premium) and a parity of 13 new shares for 10 old shares. The financial restructuring wi...
PPC's CFO to step down at the end of the month
South Africa’s PPC has announced that its Chief Financial Officer, Tryphosa Ramano, will step down on 31 October after eight years at the company. Ms Ramano has agreed to take on a consultancy role with PPC to ensure continuity. Ronel van Dijk has been appointed as interim CFO and as an executive director. The news follows Roland van Wijnen taking over as CEO of PPC at the start of this mon...
Fauji Cement appoints new non-executive director
Pakistan’s Fauji Cement Co Ltd has announced the appointment of Wasim Sadiq as non-executive director of the company, with effect from 1 October 2019. Mr Sadiq has replaced Muhammed Amir Khan in this role, according to the company’s statement to the stock exchange.
Loma Negra to shut Sierras Bayas plant
Argentine cement producer Loma Negra has announced it will close its Sierras Bayas plant, the oldest cement production facility in the country. The plant, which is a century old, operated as a grinding and dispatch facility since 2001, when a domestic downturn in the market led to the shutdown of its kiln. While two years ago, Sierras Bayas employed 100 workers, now there are only 22 left, i...