Cement News tagged: Corporate
Nesher Cement considering Haifa closure
Israeli cement producer is looking at closing its Haifa plant and moving jobs to Turkey, according to Globes. Last year the company dismissed 40 employees and is reportedly considering further lay-offs and reductions in its activity through Israel, including shutting down its Haifa works. The company’s profit declined sharply last year. In addition, the domestic cement industry is expected...
UltraTech clinker grinding project to start in October
UltraTech Cement is preparing to set up a 3Mta clinker grinding unit in Cuttack district, Odisha, India. The INR5.59bn project,which will be funded through a bank loan, will be located on a 36.4ha site. It is expected to provide employment to 120 people. The company has received environmental clearance for the project, which is expected to start by October 2019.
Shanshui Cement reduces loss to CNY210.89m
Shanshui Cement has narrowed its loss to CNY-210.89m (US$-31.3m) for the 1Q19, according to a company statement. In the 1Q18 the company loss reached CNY-471.22m. Shanshui’s operating revenue increased by 41.5 per cent YoY to CNY2.58bn in the first quarter while its gross profit was CNY682.03m, up 43.3 per cent YoY.
Mykolaivcement’s net profit falls to UAH174m
Ukrainian cement producer Mykolaivcement, indirectly controlled by CRH, has seen its net profit decline by 6.1 per cent to UAH174m (US$6.5m) in 2018, according to Ukrainian News Agency reports. Revenues slipped 3.1 per cent to UAH1.083bn YoY in 2018 while cement sales fell seven per cent to 712,000t. As a result, the company had a domestic market share of 7.9 per cent.
Southern Province 1Q profit up 18%
Saudi cement producer Southern Province Cement Co reported 17.6 per cent YoY growth in 1Q profits (after zakat and tax) to SAR120m (US$32m) in 2019. When compared with the previous quarter, profits surged 130.8 per cent from SAR52m in 4Q18. The increase in profit was attributed to a 24.8 per cent increase in sales revenues to SAR342m, a 37.3 hike in sales volume and a 9.6 per cent decline in ...
Roanoke Cement earns industry’s first ISO 50001
Roanoke Cement Co and its parent company, Titan America, announced this week that it has obtained ISO 50001 certification for its Troutville plant in Virginia – the first cement plant in the country. ISO 50001, sponsored by the US Department of Energy, is an energy management system standard that is established as a voluntary programme of best practices in continuous energy improvement. "I...
Shree Digvijay Cement Co appoints directors
Shree Digvijay Cement Co Ltd has appointed Anil Singhvi and Pramod Kabra as non-independent directors with effect from 30 April 2019. In addition, the board of directors has also appointed Mini Menon and Mahesh Gupta independent non-executive directors.
LafargeHolcim divests operations in Malaysia and Singapore
LafargeHolcim has signed an agreement with YTL Cement Bhd for the divestment of its entire 51 per cent stake in Lafarge Malaysia Bhd for a consideration of US$396m, fully payable in cash, corresponding to MYR 3.75 per share. This price represents a premium of 43 per cent compared to the last 90 days trading period of Lafarge Malaysia Berhad on the Malaysian stock exchange, according to a compa...
Umm Al Qura Cement Q1 doubles profit in 1Q19
Saudi cement producer Umm Al Qura saw its first-quarter net profit, after tax and zakat, more than doubled to SAR21.5m (US$5.7m) in the 1Q19 from SAR10.2m in the 1Q18. The company attributed the rise in profit due to improved selling prices as well as an increase in sales values. First-quarter sales advanced 12.4 per cent to SAR63.5m in 2019 when compared with SAR56.5m in the year-ago period.
SCG launches SCG Super Cement in Vietnam
Thai cement producer, Siam Cement Group (SCG) has recently launched its SCG Super Cement brand to customers in central Vietnam. The new product applies SCG Nano Tech, which “develops molecules of cement on the nano-scale to create extremely tight bonding ability, which in turns reduces the quantity of pores during concrete making. This advancement is important for construction works, as pore...
Ambuja Cement records 57% PAT increase in 1Q19
India’s Ambuja Cement Ltd (LafargeHolcim) has announced its stand-alone results for the 1Q19, recording a 57 per cent YoY increase in net profit after tax to INR4.27bn (US$61.4m) from INR2.72bn. However, its operating EBITDA declined 8.7 per cent to INR4.63bn from INR5.07bn. Net sales rose three per cent to INR28.47bn in the first quarter of 2019, compared with INR27.63bn of the year-ago per...
Yanbu Cement sees net profit surge 81% in 1Q19
Saudi Arabia’s Yanbu Cement Co has reported an 81.3 per cent YoY rise in net profit for the first quarter of 2019, increasing to SAR72.9m (US$19.4m) from SAR40.2m a year ago. The profit surge has been attributed to the higher selling prices and lower average cost, due to a higher quantity of clinker production. Sales also saw a significant growth of 20.6 per cent to SAR259.8m, compared with ...
Caribbean Cement reports 237% increase in net profit
Jamaica’s Caribbean Cement Co Ltd has announced a two per cent YoY revenue increase to JMD4.45bn (US$33.35m) for the first quarter of 2019. However, its net profit surged 237 per cent from JMD334m to JMD1.13bn. The significant increase in net profit follows the company’s debt refinancing last year, which saw it buy back assets from its immediate parent Trinidad Cement Ltd. The result is Cari...
Saudi Cement Co sees 7% decline in 1Q net profit
Saudi Cement Co reported a 6.9 per cent YoY fall in its net profit in the 1Q19. After taxes and zakat, net profit reached SAR132.4m (US$35.3m), down from SAR142.2m in the 1Q18, according to a statement to the Saudi Stock Exchange on Tuesday. The YoY drop in profit was attributed to higher sales and marketing expenses, a rise in general and administrative expenses, a growth in Islamic financi...
Cementos Argos sets new production record in Dominican Republic
Cementos Argos set a new cement production record in the Dominican Republic. The cement mill at its Nayajo plant in San Cristóbal produced 50,194t of cement, the highest production in its 20 years of operation. The cement works has a cement capacity of 0.542Mta.
Pacasmayo sees net profit edge up in the 1Q19
Peru-based Cementos Pacasmayo SAA reported a rise in sales volumes of cement, concrete and precast of 5.4 per cent YoY in the 1Q19 on the back of higher cement sales to the public sector. However, despite the higher sales, revenues in January-March 2019 remained level when compared with 1Q18, mainly due to high prices realised in the 1Q18. Consolidated EBITDA edged up 2.8 per cent QoQ and ...