Cement News tagged: Corporate
Plans for new Jajpur plant result in protests
Ramco Cement Ltd’s plans to establish a new cement plant in Jajpur district, Odisha, India, have resulted in 1500 local villagers organising a protest. The villagers demanded that the project be stopped, according to The Pioneer. "Most of the residents of Haridaspur, Sundaria, Neulaur, Thanual, Arua, Gangdharpur, Palara, Dankari and other villages are poor farmers. They have been eking out ...
Jabu Moleketi nominated for PPC chairman
South Africa’s PPC has received nominations for Jabu Moleketi for the position of chairman of the board to succeed Peter Nelson as it aims to “strengthen the board with its strategic priorities,” said the company in a statement. Mr Moleketi is currently chairman of Vodacom Group and has served on numerous boards such as the Development Bank of Southern Africa, Brait SE, Remgro, Nedbank Grou...
FANCESA considering new mill near Paraguay border
Bolivia’s FANCESA is planning a new mill and bagging facility near the border with Paraguay, and is in discussions with an undisclosed Paraguayan company. “From that meeting we will be able to establish a cement grinding and distribution facility 500km from Santa Cruz and 300km from Paraguay,” Eduardo Rivero, FANCESA’s president. The new facility is expected to represent an investment ...
Holcim Philippines CEO says policies will help women to get to the top
Holcim Philippines' CEO, Sapna Sood, says that by 2030 she hopes women will account for roughly a third of the company's total number of employees. Ms Sood is calling for greater diversity in the company that is associated mainly with men. On the senior level, Holcim Philippines' workforce is 32 per cent female. "What we're doing in order to enhance the participation of females in the com...
Limak's 0.7Mta Matola plant inaugurated
Mozambican President Filipe Nyusi inaugurated Limak Cement Group’s new cement plant in Matola on 21 February 2018. The new plant has a 0.7Mta capacity and will employ over 140 people, mostly Mozambicans. President Nyusi said he expected the new factory “to contribute to stabilising prices in a scenario of high levels of demand for cement. “This prospect strengthens our conviction th...
Bestway Cement announces 13% net profit fall
Pakistan’s Bestway Cement Ltd has announced a net profit of PKR6.19bn (US$55.9m) in the 1HFY18 period, representing a 12.8 per cent fall from the year-ago period. The decrease in profit has been attributed to the rising cost of sales. While net sale increased to PKR38.44bn from PKR35.35bn, costs also advanced to PKR16.55bn (1HFY17: PKR14.03bn). The company reported an administrative expense...
LafargeHolcim's Ambuja Cement to build new 3.1Mta Rajasthan plant
LafargeHolcim will strengthen its presence in India with the construction of a new cement plant in Marwar Mundawa, in the state of Rajasthan. The CHF200m (US$213.4m) investment will serve customers in the north, including Delhi. The new plant, which is being set up by the group’s subsidiary Ambuja Cement will have a clinker capacity of 3.1Mta and is due for commissioning in the second half o...
Pioneer Cement reports 1HFY18 profit fall
Pioneer Cement Ltd has announced that its net profit for the period 1HFY18 fell by 51 per cent to PKR737m (US$6.6m). T his was reportedly due to a decrease in sale, increase in cost of sales as well as higher in distribution and administrative expenses. The financing cost has also increased to PKR49m from PKR2.5m. The company's net sales fell from PKR5.19bn to PKR4.89bn, whereas, cost of s...
DG Khan Cement sees net profit fall by 17% in 1HFY18
DG Khan Cement (DGKC) of Pakistan has announced that its net profit for the 1HFY18 fell by 17 per cent YoY to PKR4.50bn (US$40.6m). Despite an increase in total net sales of seven per cent to PKR15.76bn, the company's profit reportedly declined due to increase in the cost of sales. According to a company bourse filing on Tuesday, the company incurred a distribution cost of PKR460m and ...
Ambuja Cements Ltd posts 89% leap in 4Q17 profits
Ambuja Cements Ltd (LafargeHolcim Group) has reported an 89 per cent jump in quarterly profit, helped by higher cement sales volume. Stand-alone profit rose to INR3.38bn (US$52.2m) in the fourth quarter ended 31 December 2017, from INR1.79bn a year earlier. Cement sales volume rose to 5.87Mt in the quarter, from 5Mt in the 4Q16. Net quarterly sales advanced 19 per cent YoY to INR26.12bn. ...
HeidelbergCement announces 4Q17 and FY17 preliminary results
HeidelbergCement's preliminary results for the 2017 financial year highlighted a significant rise for cement and clinker sales volumes, due to consolidation, increasing by 22 per cent to 126Mt, compared to 103Mt in 2016. Aggregates sales volumes recorded a growth of 12 per cent to 305Mt, up from 272Mt in 2016, while ready-mixed concrete volumes increased by 11 per cent to 47Mm 3 compared to 4...
Vicat's 2017 profits lower at pretax, but higher at net level
Vicat's turnover improved by 4.5 per cent in 2017 to EUR2563.5m while EBITDA eased by three per cent to EUR444.2m, while at unchanged exchange rates and other parameters the changes would have been +6.4 per cent and -3.4 per cent, respectively. The trading profit declined by 4.1 per cent to EUR247.2m, with the decline at unchanged parameters being 5.9 per cent. The net financial charge was ...
Cemento Melon reports 14% decrease in 2017 sales
Chile’s Cemento Melon saw its sales decrease by 14 per cent to US$298m in 2017 from US$345m in 2016. The company’s profit declined 54 per cent to US$14m from US$30m in 2015 due to lower sales of cement and concrete. The company has attributed the slide by the poor performance of the country’s construction sector, which contracted by three per cent.
Arabian Cement posts SAR97m profits in 4Q17
Arabian Cement reported a 276YoY surge in net profits of SAR97m (US$25.9m) in 4Q17, compared to SAR25.8m in 4Q16, according to a statement to the Saudi Stock Exchange. However, QoQ profits fell 46.3 per cent. For the full-year 2017, the cement producer’s profits decreased to SAR262.7m from SAR489.6m in 2016. The company attributed to decline in profits to a drop in sales volumes and prices ...
Fauji Cement of Pakistan reports falls in profit of 6MFY17-18
Fauji Cement (FCCL) has announced its July-Dec 2017 results with net profit for the period falling to PKR1.26bn (US$11.3m) from PKR1.3bn (US$11.7m), earned in corresponding month of last fiscal year. This translates to a fall in profit of 2.7 per cent on a YoY basis. Experts say the profit falls are due to the increased costs of sale and distribution. According to a company bourse filing, ...
Shree Cement commissions New Bihar cement plant
Shree Cement has commissioned a 2Mta grinding plant called the 'New Bihar cement plant', which is located at Aurangabad in the state of Bihar, India. The company has recently commissioned its Bangur cement grinding unit. The new plant has capacity of 3.6Mta and is located at Village Rohi Udaipur Udasar, Sriganganagar district, Rajasthan. Currently, Shree Cement's manufacturing operations a...