Cement News tagged: Corporate
Raysut Cement targets expansion outside Gulf region
Raysut Cement Co aims to build on its recent acquisition of Sohar Cement by expanding into Africa and India. Raysut Cement's Chief Executive, Joey Gosh, signalled that further expansion for the Oman cement producer was planned in 2019. Having acquired Sohar Cement Factory LLC for US$60m, Oman Cement is now looking outside of its domestic market. "We are looking at an aggressive expansion stra...
India Cements Jan-Mar quarter net profit advances 23% YoY
Chennai-based India Cements has reported a 23 per cent increase in its net profit for the quarter ended March 2019. Higher prices, a recovery in cement demand and improved capacity utilisation led to a net profit of INR430m and revenues of INR15.64bn, up 12 per cent YoY and 19 per cent QoQ. For the full financial year 2018-19, stand-alone profits dropped 30 per cent YoY to INR690m as net pla...
Vicat announces stake in 2170 to develop low-carbon cements
Vicat has approached 2170, a subsidiary of Burgundy-based JPS Granulats, to accelerate the development of low-carbon cements. The French cement producers has announced it would buy a stake in the capital of 2170, which prides itself on being the first French producer to receive the NF Hydraulic Binder certification in February 2018 for the production of blended cements. "Vicat has always fav...
Ecocem forced to drop Vallejo mill project
Ecocem of Ireland has dropped plans for a grinding mill Vallejo, San Francisco Bay, California, USA, after project partner Vallejo Marine Terminal (VMT) withdrew from the proposed plant. VMT's lawyer, Krista Kim, told the city council that her client no longer supported the project, which has endured a six-year planning application battle. VMT owned the land on which the proposed EUR45m plant...
EAPCC appoints Stephen Kyalo Nthei as acting MD
East African Portland Cement Co (EAPCC) has appointed Stephen Kyalo Nthei as acting managing director with effect from 20 May 2019. Mr Nthei, a Certified Public Accountant, joined the company in April 2007 and has served in various roles, including as Head of Internal Audit and Head of Financial Management. He now faces the challenge of improving the performance of the cash-strapped cement...
Hail Cement shuts down for maintenance
Saudi cement producer Hail Cement Co has announced its planned shutdown of its production line for maintenance. The company’s cement mill and packaging line will remain in operation and therefore, order fulfilment will not be affected by the shutdown.
Cemex breaks ground on new line in the Philippines
Cemex Holdings Philippines (CHP) has broken ground on its new US$235m line at the plant of its subsidiary, Solid Cement, in Antipolo, Rizal. Upon completion, the expansion is expected to increase Solid Cement’s capacity to 3.4Mta from 1.9Mta. "The continuous investment and expansion of Cemex in the Philippines is a reflection of its profound commitment to help the Philippine government in i...
Dungsam Cement reduces losses in 2018
Bhutan’s Dungsam Cement Corp Ltd (DCCL) has reported the narrowing of its losses to BTN30m (US$430,624) in 2018 from BTN720m in the previous year. The company has attributed the improved results to an uptick in cement production from 200,000t when its plant was commissioned in 2014 to 633,000t last year. The company now aims to make its maximum profit in 2019 and eradicate its losses, accord...
JK Lakshmi Cement shows 28% net profit growth
India’s JK Lakshmi Cement has reported a 27.8 per cent YoY rise in net profit to INR432.5m (US$6.2m) in the final quarter of FY18-19, against INR338.4m in the corresponding period of the previous year. Total income of the company increased 28.8 per cent to INR11.89bn from INR9.23bn. For the full-year period ended 31 March, the company saw a 5.2 per cent YoY fall in net profit to INR795.6m fr...
Nandana Ekanayake named new CEO of Siam City Cement (Lanka)
Sri Lankan cement producer Siam City Cement (Lanka) Ltd (SCCLL) INSEE Cement) has appointed Nandana Ekanayake as its chairman. He will also continue its current position as CEO of the company. Mr Ekanayake was the finance director and head of divestment projects at Siam City Cement (Vietnam) prior to taking up the position as CEO in Sri Lanka in March 2017. He has gained considerable experienc...
Titan reports 13% advance in 1Q turnover but EUR6.2m net loss
Greece-based Titan Group reported a 12.5 per cent rise YoY in consolidated turnover to EUR362.7m in the first quarter of 2019 ended 31 March 2019. The company attributed the higher sales to a robust US market and growth in southeastern Europe. EBITDA was up two per cent to EUR44m as the company faced a challenging business environment in Egypt and Turkey. Titan's net result was impacted by ...
Ramco Cements sees 50% advance in net profit
India’s Ramco Cements has reported a 50 per cent YoY increase in net profit to INR1.65bn (US$23.68m) for the 4QFY18-19, while revenue advanced 21 per cent to INR15.43bn. For the full fiscal year, revenue was up 12 per cent YoY at INR51.87bn. However, fluctuating cement prices and increasing fuel prices meant the company saw a nine per cent fall in profits to INR5.07bn. The company’s perfor...
Emami Cement receives approval for IPO
Emami Cement Ltd has received approval from the Securities and Exchange Board of India for an IPO, which could raise INR10bn (US$143.56m), according to the Business Standard. The IPO would consist of the fresh issuance of shares worth INR5bn and the rest offered for sale from existing promoters. "We have received Securities and Exchange Board of India approval on 15 May, and we will now final...
Maple Leaf Cement starts up expanded grey clinker production
Maple Leaf Cement Factory Ltd (MLCFL) has started production on its additional dry-process grey clinker line at its Iskanderabad site in Punjab, Pakistan, on 21 May 2019, according to the Company Secretary, Muhammad Ashraf, in a note to the Pakistani Stock Exchange. The 7300tpd line will increase the plant's clinker production capacity to 18,000tpd at an estimated project cost of PKR25bn (U...
thyssenkrup Industrial Solutions opens new service centre in Australia
thyssenkrupp Industrial Solutions has opened a new service centre in Brisbane, Australia, on 14 May 2019. The new facility is ideally located to support thyssenkrupp’s customer base on Australia's east coast as well as clients in Oceania that use major logistics channels through Brisbane. “As we want to offer the best possible services to our customers, we are continuously expanding our ser...
JSW Cement plans to double green cement capacity
India’s JSW Cement Ltd plans to double its green cement capacity over next couple of years. At present, the company produces green cement at its Salboni unit in West Bengal to cater to the demand of the eastern region. "The eastern markets in India are very important to JSW Cement’s growth story. Over the past year, we have implemented several initiatives to cater to requirements of all our...