Cement News tagged: Corporate
Fauji Cement's profit increases by 43.88% in 1HFY19
Fauji Cement Co Ltd (FCCL) has announced its financial results for the half year ended 31 December 2018, by declaring of net profit for the period of PKR1.82bn (US$13m), increased by 43.88 per cent YoY, as compared to PKR1.26bn in the same period last year. Net sales of FCCL during the half year increased at of PKR10.431 bn from PKR10.268 bn, up by two per cent during this period. It incurre...
HeidelbergCement Board level changes
Dr Bernd Scheifele will leave the Managing Board in February 2020 after 15 years as chairman. Upon conclusion of his third term at the end of January 2020, Dr Bernd Scheifele will give up the chair of the Managing Board of HeidelbergCement AG to the current Deputy Chairman, Dr Domink von Achten, until the end of January 2025. At the same time, the Supervisory Board asked Dr Scheifele to st...
HeidelbergCement achieves 10% revenue growth in 2018
HeidelbergCement has presented its preliminary, unaudited figures for sales volumes, revenue and result from current operations before and after depreciation and amortisation for the 4Q18 and the whole of 2018. Group revenue rose by 10 per cent to EUR 4.7bn, up from EUR4.3bn in 2017. In 2018 the cement and clinker sales volumes of the group increased moderately by three compared with the ...
Sell-off Ssangyong Cement on the cards
Privately-held investment fund company Han & Co, is expected to sell off Ssangyong Cement in the second half of this year, according to Asia Today. The minimum sales amount is estimated to be KRW2.5trn (US$2.22bn). HanCo Cement Holdings holds a 77.44 per cent stake in Ssangyong Cement after becoming a majority shareholder in 2016. Upon acquisition Ssangyong Cement included car electric par...
Ambuja sees 188% 4Q net profit surge
Ambuja Cements' sales rose 6.7 per cent to 13.63Mt in the quarter ended 31 December 2018 from 12.78Mt in 4Q17. This resulted in a total income of INR68.552bn (US$959.7m) in the October-December 2018 quarter, up 9.3 per cent YoY, while consolidated net profit surged 188 per cent to INR13.779bn. In its outlook LafargeHolcim-owned Ambuja Cements said the higher investment in the road network a...
Cementir shows modest improvement
Cementir Holding's adjusted turnover in 2018 improved by 4.9 per cent to EUR1196.2m and EBITDA advanced by 7.1 per cent to EUR238.5m, while the trading profit showed a nine per cent improvement to EUR153.2m. Net debt at the end of 2018 was 53 per cent lower at EUR255.4m, largely thanks to the sale of Cementir Italia to HeidelbergCement, while purchasing an additional 38.75 per cent of Lehigh W...
Haver & Boecker South Africa names new MD and other appointments
Haver & Boecker's South African subsidiary has been reorganised with Norbert Tschudy appointed the new Managing Director. The management team is completed by Sarina Karstens, head of finance and administration and responsible of the financial well-being of the subsidiary, and Fabian Stuart, head of operations and in charge of customer service. Meanwhile, Jade Edas joins the building materi...
Saurashtra Cement reports net loss of INR6.7m
Indian cement producer Saurashtra Cement saw its net profit fall to INR6.7m (US$93,790) in the quarter ended December 2018 when compared with INR33.2m in the year-ago period. Sales rose 11.3 per cent to INR1.585bn in the October-December 2018 from INR1.424bn in October-December 2017.
National Cement Co opens new 1Mta line in Libya
Ali Al-Issawi, Libyan Minister of Economy and Industry, and the board of directors of the National Company for Cement opened the 1Mta second production line at Zliten cement plant. Mr Al-Issawi said that the project marks the beginning of an industrial renaissance in the country and contribute to creating new employment opportunities for young people. "The new line will enable the National C...
KCP starts commercial production at Muktyala II
India-based KCP has started commercial production on the second line of its plant in Muktyala, Andhra Pradesh, according to the company’s notification to the Bombay Stock Exchange. Some minor work such as the packing facilities of the 1.66Mta cement works remains outstanding but the company expects to complete this in about two months’ time. The latest addition takes the total capacity of ...
Cementos Mélon reports profit up 9% in 2018
Cementos Mélon saw an 8.9 per cent increase in profits to CLP9.067bn (US$13.7m) in 2018 but EBITDA fell 2.9 per cent to CLP28.572bn. The fall was attributed to lower sales of cement and concrete as well as a rise in raw material costs. The Chile-based cement producer reported a 4.5 per cent rise to CLP191.347bn from CLP193.014m in 2017.
Ashaka Cement to start 16MW power plant
Ashaka Cement Co is set to inaugurate a 16MW power plant project in Nigeria. Managing Director of Ashaka Cement, Rabiu Abdullah Umar, said the power plant costs US$30.5m. "We are helping to remove ourselves from the demand for energy, and providing our own solution, which means a minimum of 16MW of electricity, will now become available to the public grid for the people in the region to enjoy...
Ambuja Cements announces plant expansion project
India’s Ambuja Cements Ltd is planning to expand manufacturing capacity from 2.4Mta to 3.4Mta at its Jala Dhulagori facility in West Bengal. While the company is awaiting environmental clearance, work on the project is expected to begin by October 2019.
Arkan sells Emirates cement plant
UAE-based Arkan Building Materials has announced the sale of its Emirates cement plant for AED50m (US$13.6m). The company also noted the permanent shutdown of Emirates Cement Co. Arkan has already received AED21.9m of the total amount, recognised in its 2018 financials as other income. The company’s main operations are based at its separate 4.5Mta facility in Al Ain.
Cemex to establish distribution centre in northern Spain
Cemex plans to build its first distribution centre in the north of Spain at Olano Wharf. The company has applied for a 2500m 2 concession in the port of El Musel for the new centre, which will incorporate a bagging plant and silos. Cemex already has a significant presence in the country, but only has facilities in Madrid, Aragón and the Mediterranean communities from Catalonia to Andalucia...
Dangote hires new CFO ahead of London IPO
Dangote Cement has hired Guillaume Moyen as chief financial officer for operations ahead of the company’s proposed listing on the London Stock Exchange later this year. Mr Moyen would be taking on a newly-created position, according to Carl Franklin, head of investor relations. He was previously employed as CFO by UAE-based OLA Energy. Dangote has tentatively scheduled in the long-awaited ...