Cement News tagged: Corporate
Maple Leaf Cement wins corporate report award
Maple Leaf Cement (MCL) and its sister concern Kohinoor Textile Mills of Pakistan have won the 'Best Corporate Report Award' for the year 2018 in their respective sectors. The ceremony was held in Karachi jointly hosted by ICAP and ICMAP, earlier this week. Maple Leaf Cement and Kohinoor Textile Mills both won the award for 2018 in their respective sectors at number one position. Transparent...
Lucky Cement awarded for Best Corporate Report
Lucky Cement Ltd has won the Best Corporate Report Award with second position in the cement category at the much anticipated "Best Corporate & Sustainability Report Awards 2018". The award ceremony was jointly organised by the Institute of Charted Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP), at a local Hotel in Karachi this week. ICAP a...
CRH reports sales of EUR13.2bn in 1H19
CRH reported that group sales in 1H19 amounted to EUR13.2bn, up 11 per cent when compared with 1H18. EBITDA was 36 per cent ahead of 1H18 and the EBITDA margin rose by 11.7 per cent. Profit before tax was EUR707m for the 1H19. The 1H19 benefitted from increased demand in Europe and North America and from currency exchange movements. Americas Materials' like-for-like (LfL) sales were two ...
Unacem 2Q net profit doubles to PEN97m
Consolidated revenues of Peru-based Unacem increased 8.3 per cent YoY to PEN1.041bn (US$308.3m) in the second quarter of 2019 as a result of higher cement and ready-mix volume sales in Peru, higher prices in the USA, increased energy generation and the incorporation of seven newly-acquired ready-mix sites in Chile, said the company. Consolidated EBITDA in the 2Q19 advanced 4.4 per cent PEN30...
Argos Panamá submits EIS for Balboa clinker plant
Argos Panamá SA has submitted an environmental impact study for its Balboa project to the country’s Environment Ministry. The new clinker plant will be built on a 18ha plot in Buena Vista, Colón province. The works will include limestone crushers, raw material grinding and clinker production equipment as well as conveyors, according to CentralAmericaData. The project represents an investment...
Arabian Cement record profit fall of 88% in 1H19
Arabian Cement Co (ACC) of Egypt announced a fall in profits of 88.1 per cent to EGP25.3m (US$1.52m) for 1H19 compared to EGP212.77m in 1H18. Profits in 2Q19 dipped to EGP19.4m from EGP50.7m in 2Q18, but this was an imporvement on 1Q19 profts of EGP5.97m, down from EGP162m in 1Q18. Cement sales in 1H19 amounted to EGP1.6bn compared to EGP1.64bn in 1H18. ACC (Cementos La Union group) has...
SCG looks to increase use of blockchain solution
Siam Cement Group (SCG) is looking to roll out its Procure to Pay blockchain solution for payment and procurement methods to 2400 suppliers by 2020, according to the Bangkok Post. Thammasak Sethaudom, vice-president for finance and investment, has said that the company must transform its operations to chase the fast-moving blockchain trend. "Our platform has helped suppliers reduce their pro...
Executive Director of Dongwu Cement resigns
Peng Cheng has resigned as the executive director of China-based Dongwu Cement, with effect from 20 August 2019. According to a statement, Mr Cheng has resigned to focus on his other business commitments, which require more attention. The board thanked Mr Peng for his contributions during his tenure and noted that he will remain as the director of certain subsidiaries of the company after his...
Cemex Czech Republic reports net loss in 2018
Cemex Czech Republic reported a net loss of CZK307.1m (US$13.18m) in 2018, declining from a profit of CZK194.9m in the previous year. However, sales increased 70 per cent to CZK3.81bn, with more than 98 per cent generated on the domestic market. The results were positively impacted by a merger with Cemex Cement and Cemex Development, according to an annual report. "The company recorded a YoY ...
Tanga Cement sees 25% increase in revenue for 2018
Tanzania’s Tanga Cement reported a 25 per cent YoY increase in revenue to TZS215bn (US$93.56m) for 2018, up from TZS172bn in the previous year. Gross profit rose 91 per cent to TZS56.2bn from TZS29.4bn. EBITDA surged 304 per cent to TZS34.4bn from TZS8.5bn, on the back of improved sales volumes, margins and operational efficiency, according to its annual report. Operating profit recovered fr...
Nepal's cement producers recommend barring FDIs
Nepal’s cement producers have recommended barring foreign direct investments (FDI) in the sector during a discussion with Matrika Prasad Yadav, the Minister for Industry, Commerce and Supplies, according to The Rising Nepal. "We will have become self-reliant in cement and by the end of 2020, we will have product surplus. Bringing in more FDI in large cement industry will be suicidal for the ...
Wagners' annual net profit drops by 49%
Wagners in Australia has seen its annual net profit drop by 48.5 per cent to US$12.8m. The construction group blames its dispute with Boral for the poor business results. The building materials group has reported a 32 per cent fall in earnings from its core construction, materials and services business to AUD30.1m (US$20.38m) after its decision to stop selling cement to Boral. About 40 per ce...
Gebr Pfeiffer opens new CIS region subsidiary
Gebr Pfeiffer has opened a subsidiary OOO "Gebr Pfeiffer GUS" based in Moscow, Russia. The subsidiary will serve orders in Russia, Ukraine, Kazakhstan, Belarus and Uzbekistan. The new subsidiary has been established to be closer to the customers and thereby further intensify Gebr Pfeiffer's close contacts and long-term relationships. The team will be headed by General Director Alex Nickel and...
Power Cement suspends its older production capacity
Power Cement Ltd of Pakistan has suspended a third of its cement output due to lack of demand and falling prices. Pakistan's second largest cement producer has close 3150tpd of its production at its Nooriabad Dadu plant, which it says is no longer viable with the high production costs. It is left with 7700tpd of newer operational capacity at Nooriabad Dadu, while FLSmidth is currently compl...
Lugait Cement plant upgrades to meet Mindanao's rising demand
Holcim Philippines, Inc (LafargeHolcim group) is preparing to start work on the modernisation of its Lugait Cement plant in Misamis Oriental as it expects continued growth in Mindanao demand. Mindanao's cement demand comes not just from the two primary cities of Davao and Cagayan de Oro, but also from Zamboanga, Dipolog, Butuan, and other secondary cities. "For so long, Visayas demand has al...
Shree Cement records 37% net profit increase
India’s Shree Cement has reported a six per cent YoY increase in consolidated revenue for the quarter ending 30 June, rising to INR33.54bn (US$470.4m) from INR31.63bn. Net profit surged 36.8 per cent to INR3.82bn from INR2.79bn. The cement segment saw an 8.5 per cent rise in revenue to INR31.15bn, compared with INR28.69bn in the year-ago period. While cement sales volumes contracted 13 per ce...