Cement News tagged: Corporate
Cemex UK is fined GBP1m for workers death
Cemex UK has been fined GBP1m by Livingston Sheriff Court after its West Calder block plant breached two sections of the Health and Safety at Work Act that led to the death of a member of staff. James Brownline, 64, died after being struck by a piece of machinery while carrying out maintenance on a conveyor belt at the plant in West Lothian. The Health and Safety Executive (HSE) report said...
Lehigh Hanson to break ground on US$600m Mitchell project
US-based Lehigh Hanson Inc is set to break ground this week on its US$600m expansion and modernisation project at its plant in Mitchell, Indiana. The plans were first announced in July last year and are expected to take four years, according to Inside Indiana Business. It will be the company’s largest expansion and modernisation project in north America and is expected to create 50 jobs.
Jidong Cement to acquire 49% stake in Beijing BBMG Mangrove
China’s BBMG Corp is set to sell its entire 49 per cent stake in Beijing BBMG Mangrove to Jidong Cement for CNY1.72bn (US$241m). Jidong Cement is expected to fund the acquisition of the waste management company in an all-cash deal, according to a statement by BBMG. The proceeds from the divestment will be used to meet BBMG’s working capital requirements.
Power Cement to become No 2 in south Pakistan
Power Cement Ltd (PCL) is set to complete the brownfield expansion at its existing production site by adding a new line of 7700tpd (2.5Mta), taking the plant’s total capacity to around 3.4Mta. The project is currently in its testing phase and commissioning will start in 2020. Once online, the project will make the company the second-largest cement producer in southern Pakistan. The expansio...
NCL Industries sees 24% decline in production
India’s NCL Industries has reported a 24 per cent decline in cement production to 371,000t in the 2QFY19-20, falling from 488,000t in the year-ago period. Cement dispatches also decreased by 25 per cent YoY to 367,000t from 488,000t. Elsewhere, the company's production of cement boards rose 12 per cent YoY to 18,503t for the second quarter, however, dispatches declined nine per cent to 15,1...
Hanson Cement appoints new Technical Manager
Nina Cardinal has joined Hanson Cement as its new national technical manager. Ms Cardinal heads up the division’s technical team, which offers customers advice, information and support on all cement and cementitious issues. Ms Cardinal previously worked at Tata Speciality Steels for more than 20 years, latterly as technical director responsible for a 70-strong team, before joining the Univers...
Raysut Cement set to begin construction of new plant in Georgia
UAE-based Pioneer Cement (Raysut Cement Co) is currently finalising arrangements for its greenfield 1.2Mta project to be located near Tbilisi, Georgia. Pioneer Cement owns concessions to limestone mines in Georgia that will provide the key raw materials for the project. The new unit is an opportunity to diversify from the Middle East into a market with large infrastructure growth and a shor...
Flying Cement profits recede in FY19
Flying Cement Company Ltd (FCCL) of Pakistan has announced its financial results for FY19. It declared a net profit of PKR142.36m (US$0.9m) against PKR181.5m earned in the same period last year. FCCL showed a profit dropped by 21.6 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR3bn from PKR2.6bn during this period, despite increase in sale. The company...
Steppe Cement suffers weak 3Q19
Steppe Cement Ltd of Kazakhstan had a weak third-quarter performance but said year-to-date revenue benefitted from rising cement prices. The construction materials producer said revenue in the three months to the end of September was 10 per cent lower compared with the prior year, at KZT10.56bn (US$27.1m). A cement sales volume of 576,692t was achieved by Steppe Cement during the 3Q19, an 11...
Adelaide Brighton makes new appointment
Australia’s Adelaide Brighton Ltd has announced the appointment of Emma Stein as an independent non-executive director. Ms Stein has previously held several board and senior executive positions in the building materials, energy, mining and waste management sectors, according to a press release. "We welcome the wealth of experience Ms Stein brings to the Adelaide Brighton board and look forwa...
Gharibwal Cement 51% profit fall in FY18-19
Gharibwal Cement Ltd (GWLC) has released its financial results for the year ended 30 June 2019. The company earned a net profit of PKR736m (US$6.7m) as compared to PKR1.509bn earned in the same period last year, which decreased by 51.2 per cent. The fall in profit has been attributed to a decline in sales and an increase in finance expense. According to company results, sales decreased by th...
Power Cement reports 11% fall in sales
Pakistan’s Power Cement Ltd has reported a 11.2 per cent decline in net sales to PKR3.85bn (US$24.5m) in the FY19 ended 30 June, falling from PKR4.34bn in the year-ago period. Gross profit was down 76.7 per cent YoY to PKR157.28m in the period. However, profit after tax increased 82 per cent to PKR582.1m from PKR319.9m.
Pioneer Cement profit shrinks by 52% in FY19
Pioneer Cement Ltd (PIOC) of Pakistan has announced its financial results for the year ended 30 June 2019 today. It earned a net profit of PKR790m (US$5m) as compared to PKR1.644bn earned in the same period last year – falling by 52 per cent YoY. Sales declined from PKR10.12bn to PKR9.73bn during this accounting period. The drop in profit is reportedly due to increase in the cost of sales to ...
Pioneer Cement records 4% fall in revenue
Pakistan’s Pioneer Cement has reported a 3.8 per cent fall in revenue to PKR9.73bn (US$62.07m) in the FY19, compared with PKR10.12bn in the year-ago period. Operating profit declined 30.9 per cent YoY to PKR1.59bn from PKR2.3bn, while profit after tax slipped 51.9 per cent to PKR790m.
ECEBOL sells BOB35m since start-up
Bolivia’s new ECEBOL unit has sold BOB35m (US$5m) of cement since its recent start-up. The company produces IP-40 cement and since August has launched the product in Santa Cruz, Cochabamba, La Paz and Oruro. The plant currently operates at 60 per cent of its cement capacity, which is expected to be ramped up to 100 per cent next year. “At the moment we have sold cement to a value to BOB35...
Reliance Logistics acquires 92% of Sama Cement's share capital
Reliance Logistics Co has acquired 3.68m stocks of Egypt’s Sama Cement, representing 92 per cent of the company’s share capital. Sama Cement owns 6.8 per cent of Sinai cement, with Reliance Logistics reporting that its indirect and direct stakes in the latter have now reached 17.4 per cent.