Cement News tagged: Corporate
PPC Zimbabwe reports loss of export competitiveness
PPC Zimbabwe says the loss of export competitiveness is adversely affecting its operations and remains a risk to sustainable growth, reports the Chronicle. The fall in exports has been attributed to high production costs and cash shortages in the country. To counter the issue, the company has appealed to the Zimbabwe government to increase export incentives and protect firms against losses ...
FLSmidth reports positive overall results
FLSmidth released its annual report on Wednesday and reported a five per cent order increase to DKK19.17bn (US$3.15bn) in 2017, driven by stronger offtake in the minerals division in 2H17 and by total service activities, but revenue declined one per cent to DKK18bn. Full-year EBITA advanced 18 per cent YoY to DKK1.515bn from DKK1.289bn in 2016, while the corresponding EBITA margin rose from...
Taiheiyo Cement sees revenue increase in 9M17
Taiheiyo Cement has reported its financial results for the nine-month period ended 31 December 2017. The group revenue has increased to JPY653.06bn (US$5.95bn) from JPY592.21bn seen in the year-ago period. Similarly, operating profit grew to JPY48.68bn from JPY44.23bn of the 9M16. However, net profit has fallen considerably, finishing at JPY32.53bn in the 9M17 (9M16: JPY57.12bn). The compan...
Dewan Cement strikes deal with Mega Conglomerate
Mega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acq...
Tasek posts MYR5.94m loss in 4Q17
Malaysian cement producer Tasek Corp Bhd reported a net loss of MYR5.94m (US$1.51m) for the fourth-quarter of 2017, down from the MYR2.14m profit in 4Q16. The company’s turnover fell 16 per cent YoY to MYR135.26 on the back of lower domestic cement sales and a lower average net selling price for cement and ready-mixed concrete, according to The Malaysian Reserve newspaper. The outlook fo...
Cemex speeds up Maceo opening
Cemex Latam Holding has confirmed that it is solving the legal issues that prevent the opening of its new plant in Maceo, Antioquía, Colombia. The inauguration of the works was postponed in May 2017 after authorities found the plant did not have all required permits to start operation. Jaime Muguiro, the company’s president, said the company was still awaiting authorisation for the capa...
Cementos Argos marks record-breaking year
Cementos Argos has reported a positive domestic performance in Honduras throughout 2017. The company sold over 1.1Mt of cement in a record-breaking year, representing a 15 per cent YoY growth. The majority, 80 per cent, of Cementos Argos’ sales are generated through general use cement, according to M-Brain. Specialised structural cement accounts for 15 per cent, with white cement contributi...
Yamama Cement profit halves in 4Q17
Saudi Arabia’s Yamama Cement saw its net profits slide 51.3 per cent YoY in the 4Q17 to SAR16.9m (US$4.5m) from SAR34.8m. The company attributed the fall in profits to the drop in sales on the back of a contracting domestic market and to the rise in the allocated amount for Zakat by SAR5.7m. For the full year 2017, profits declined 69.5 per cent to SAR109.9m, from SAR357.9m in 2016.
Star Cement records 10% rise in operating revenue
Star Cement Ltd has released its results for the third quarter of FY17-18, showing a growth in operating revenue of 10.1 per cent YoY. Adjusted for excise duty, this translates to INR3.77bn (US$58.8m) against INR3.42bn of the 3QFY16-17, according to IIFL. EBITDA marked a considerable increase of 60.4 per cent to INR1.41bn in comparison with INR0.88bn of the previous fiscal. The EBITDA margin e...
BCIC plans dry-process conversion at Chhatak plant
Bangladesh Chemical Industries Corporation (BCIC), owned by the Bangladeshi Ministry of Industries, is planning to convert a wet-process production line to dry-process at Chhatak Cement Company Ltd (CCCL) in northeast Bangladesh. The Chhatak factory was established in 1937 by Assam Bengal Cement Company at Chhatak Upazila in Sunamgonj district. According to BCIC’s announcement, the 1500t...
Slow Tamil Nadu sales affect Ramco 3Q net profit
Ramco Cements has seen its 3QFY17-18 net profit dragged down on the back of lacklustre demand in its core market of Tamil Nadu, India. Net profit fell to INR1.227bn from INR1.519bn in the quarter ended 31 December 2016, according to The Hindu newspaper. Revenues edged up from INR9.647bn to INR10.615bn over the period. The company’s CEO, AV Dharmakrishnan, said with demand soft in Tamil Nadu...
Cruz Azul partially closes Tula plant
Cruz Azul is partially closing its Tula plant in Hidalgo, Mexico, as it lacks current environmental authorisation for the operation of its plant. Staff of the Federal Procuracy for Environmental Protection (Profepa) carried out an inspection of the plant and when verifying documents, it was found that the plant did not have a current authorisation of the Environmental and Natural Resources ...
PPC records sales growth
PPC reported that it has seen its sales volume grow by over 20 per cent YoY in Rwanda and Zimbabwe, for the nine-month period ended 31 December 2017. Assisted by stable pricing and a positive export performance, volumes increased by 20-30 per cent YoY in Rwanda. Similarly, its Zimbabwean operations registered an uptake of 30-40 per cent when compared to the year-ago period. However, PPC e...
Lafarge to invest millions in Val d’Azergues plant
Lafarge announced that it will invest several million euros in upgrading its Val d’Azergues plant, France, over the next three years. During the winter technical shutdown, the plant will carry out several maintenance procedures, particularly on the kiln’s bag filter. It will also renovate the preheater and is reported to be changing its cooler. In addition, the company seeks to improve the ...
JK Cement reports 10% increase in net profit
JK Cement has reported a 9.77 per cent YoY increase in net profit for the quarter ending 31 December 2017. This translates to a total of INR7.2bn (US$112.2m), compared to INR6.64bn seen in the year-ago period. Net revenue grew by 26.84 per cent in the 3QFY18, finishing at INR112bn (3QFY17: INR88.7bn). However, the company’s operating expenses also rose 29.24 per cent in the Oct-Dec 2017 qua...
Danish investors and FLSmidth buy into Power Cement
A joint venture of foreign investors IFU (Danish Investment Fund for Developing Countries), IIP (IFU Investment Partners) and FLSmidth have reportedly purchased over 100m shares in Power Cement Ltd (PCL) and its undertaking, situated at DehKaloKohar, Nooriabad Industrial Estate, District Dadu (Sindh), Pakistan. PCL has informed the Pakistan Stock Exchange (PSX) last week that that the sub...