Cement News tagged: Corporate
Titan's 2017 turnover remains stable at EUR1506m
Titan's 2017 consolidated turnover remained stable, at EUR1505.8m, a marginal 0.2 per cent decline compared to 2016. EBITDA reached EUR273.4m, a 1.9 per cent decrease. Non-recurring events (staff redundancy programmes in Egypt and Greece and hurricane Irma in Florida) had a negative impact on EBITDA of about EUR1m, against EUR6.7m of such costs in 2016. Net profit after minorities and the...
Ecebol's Oruro plant scheduled for dry testing by July
Ecebol's plant under construction in Caracollo, Bolivia, is expected to undergo testing in the middle of this year, according to Oruro Governor, Víctor Hugo Vásquez, who inspected the works on Tuesday. "With satisfaction we can say that the advance [of the works] is over 95 per cent, only five per cent is missing, which is likely to be concluded in May or June, because from June or July dry...
Yanbu Cement begin cement and clinker exports
Yanbu Cement Co has signed a one-year agreement to export 1Mt of clinker and 0.5Mt of cement as of April 2018. The company added that the deal is expected to boost company's revenues by SAR100m (US$26.6m) during FY18. Analysts EFG Hermes estimates that the cement producer will sell cement at SAR140/t (a discount to prevailing 4Q17 price it had reported but substantiated given large quantit...
Orient Cement plans to expand facility in Telangana
India-based Orient Cement has announced plans to expand its facility in District Mancherial, Telangana. The project is worth an estimated INR21bn (US$323.74m) and involves adding capacity to its waste heat recovery (WHR) unit, increasing output potential to 75MW from 50MW. An application for environmental clearance has been submitted, and once fully approved, the project is expected to be co...
CCNN record 39% increase in revenue for 2017
Cement Company of Northern Nigeria (CCNN) Plc has announced a 39 per cent YoY increase in revenue for the full-year 2017 period, to NGN19.59bn (US$54.41) from NGN14.09bn. Despite the cost of sales rising 18 per cent to NGN11.98bn, profit after tax advanced 157 per cent to NGN3.22bn (2016: NGN1.25bn). As a result, the directors of the company have approved a dividend of NGN1.57bn, or 125 kobo...
Raysut Cement opens new packing line
Oman's Raysut Cement Co recently inaugurated a new packing line, installed by a leading European equipment manufacturer. The new line will double the packing capacity at its Salalah plant, enabling the company to supply an additional 1Mta of bagged supply to the export markets of Yemen, Somalia and east Africa. The project represents an investment of OMR1.5m (US$3.9m).
Eurocement Ukraine improves sales
Eurocement Ukraine produced 1.12Mt of cement in 2017, representing a 1.9-fold rise YoY. The company shipped 1.1Mt of product to consumers. The company’s net loss contracted 14 per cent YoY to UAH145.6m (US$5.52m).
SCHADE Lagertechnik GmBH attains ISO and OHSAS recognition
In January 2018 S CHADE Lagertechnik GmbH, Germany, achieved re-accreditation under the international quality management system ISO 9001, as well as under the environmental standard ISO 14001 and the occupational health and safety standard OHSAS 18001. The audit was carried out by TÜV Hessen and completes S CHADE ’s transition to the newly-recognised 2015 standard for quality and environmenta...
BUA Group CEO nominated for African CEO of the year
Executive Chairman/CEO of BUA Group Abdulsamad Rabiu has been shortlisted as a nominee for the Africa CEO of the year Awards scheduled to be held in Abidjan, Côte d’Ivoire. Within the year under review, BUA Group opened its US$1bn cement plant line 1 and 2 in Obu-Okpella in Edo State, completed the construction of its Sokoto Cement expansion, concluded the construction of its BUA rice mill i...
Phinma Group plans new capacity
Phinma Group has announced plans to return to the Philippine cement market, according to the Business Inquirer. The company is constructing a 2Mta plant in Bataan, which is expected to be operational by the 1Q19. Registered by Phinma in September 2017, Philcement has begun supplying the market to prepare the distribution network for when the new plant comes online. The company’s flagshi...
Cementos Argos USA takes out US$100m loan
ING Bank NV a global financial institution, closed a US$100m loan to Argos USA LLC, a subsidiary of Cementos Argos SA on 23 March 2018. Cementos Argos, a multinational cement and concrete producer in Colombia, the United States, Central America and the Caribbean, will use the loan for corporate purposes.
Caribbean Cement considers exiting lease agreement
Caribbean Cement could reduce its costs by approximately a third, US$10m, annually if it exits a lease agreement with its parent company, Trinidad Cement Company (TCL), according to The Gleaner. The company is projected to spend about US$25m on the 2017 operating lease for its Rockfort facility in Kingston. The plans would involve terminating that annual payment and buying back the plant, w...
Inchini Bedrock Cement is investigated for tax evasion
Ethiopia-based cement producer, Inchini Bedrock Cement Plc, is being investigated by the Office of the Attorney General for alleged tax evasion of ETB133m (US$4.8m) over the span of six years. The Ethiopian Revenues & Customs Authority (ERCA) reports that the company is liable for ETB276m (US$10m), says All Africa. Inchini has declared losses in all but two of its years since its establishme...
Cemex not to pursue capital increase
Cemex announced it will not pursue its earlier-announced planned capital increase following consultation with its shareholders. “As we discussed on Cemex Day, our management team’s priority is to achieve an investment grade capital structure, as the foundation of our value creation strategy” said CEO, Fernando Gonzalez. “We are highly focussed on our long-term strategic objective of maximi...
Sephaku Cement posts 16% fall in profits in 2017
Dangote-owned Sephaku Cement has posted a 16 per cent drop in its full-year profit, despite revenue increasing by 3.7 per cent to ZAR2.37bn (US$201.1m) in 2017. The South Africa-based company turned a profit of ZAR73.9m in the 2H17, compared with a loss of ZAR16.1m in 1H17, resulting in full-year profit of ZAR58.7m. This was a 16 per cent decrease on the previous year’s profit of ZAR68.9m. E...
Third line finance for Ciments du Sahel
The West African Development Bank has approved a XOF25bn loan to help fund a third production line at Ciments du Sahel’s plant in Kirène, near Rufisque, Senegal. The new integrated line will have a capacity of 2.7Mta and increase current capacity at the plant to 5.9Mta. Currently, Dangote Industries Senegal is building a 1.5Mta expansion at its 1.5Mta Pout works. When both projects ...