Cement News tagged: Corporate
Votorantim Cimentos reports stable 3Q revenues but drop in adjusted EBITDA
In its third-quarter 2017 results announcement Brazil’s Votorantim Group reported a one per cent increase in the net revenues of Votorantim Cimentos to BRL3.208bn (US$968.2m) from BRL3.19bn in 3Q16. Adjusted EBITDA fell 27 per cent YoY to BRL521m in 3Q17 from BRL715m in the year-ago period. The company’s EBITDA margin stood at 16 per cent. Brazilian results were negatively impacted by a BRL...
Prism Cement sees rise in 2Q17 EBITDA
Prism Cement has posted a 50.4 per cent YoY rise in EBITDA for the 2Q17 period ended 30 September 2017 to INR376m (US$5.78m). The resulting EBITDA margin for the second quarter was 3.2 per cent. The company’s revenue fell 7.7 per cent on a comparable basis to INR11.6bn 2Q17 from INR12.62bn in 2Q16. The first six months of the current financial year has seen Prism report EBITDA of INR1.14bn....
Star Cement announces 90% net profit increase
Star Cement reported a standalone net profit of INR219.9m (US$3.37m) for the 2Q17 period ended 30 September 2017, a 89.9 per cent increase from the INR108m seen in the year-ago period. The revenue for the company fell to INR2.57bn from INR2.89bn in 2Q16. Star Cement reported EBITDA of INR530m for the second quarter of 2017, according to The Economic Times. The cost of expenses decreased to IN...
Luanda cement plant resumes production after HFO shortage
China International Fund (CIF) has resumed production of its Luanda cement plant after four months of non-acitivity, because of the heavy fuel oil (HFO) shortage in the country. With the resumption of production, the 3.6Mta plant should start distributiong cement again in December or January. The Luanda Refinery stepped to supply HFO directly to CIF and Fábrica de Cimento do Kwanza Sul (...
Anhui Conch to import drilling rig for 4500tpd plant
Anhui Conch Cement Co expects delivery of an imported hydraulic drilling rig for its cement production project in Shaanxi province by February 2018. The US$1.7m rig will be installed at the limestone mine at the company’s US$61m cement facility in Tongchuan, Shaanxi province. The plant’s production capacity is around 4500tpd and construction is expected to begin in the 1H18. The rig is ...
Asia Cement Co to acquire Halla Cement Corp
Asia Cement Co is preparing to acquire Halla Cement Corp with a reported bid between KRW700bn (US$627m) and KRW800bn, according to Deal Street Asia. The South Korean company Halla Cement operates one integrated cement plant with a cement production capacity of 9Mta. The company reported EBIT of KRW62.8bn in 2016, an increase of 43 per cent YoY. This move will increase Asian Cement’s shar...
Alexandria Cement losses widen to EGP359m
Alexandria Cement, Egypt, reported audited financial results for 9M17 ended 30 September 2017 with consolidated losses widening to EGP-358.78m (US$-20.3m) when compared with EGP-85.17m in the year-ago period. In addition, standalone net losses increased from -EGP177.6m to EGP-281m over the same period.
Lafarge Africa receive shareholders endorsement for merger
Lafarge Africa have received the shareholders endorsement for a merger with Unicem and Atlas Cement Company Ltd, according to Nigerian newspaper The Guardian. "The merger is part of the asset consolidation we began in June 2014. It will solidify our market position in Nigeria particularly our presence in the South-South and South-East regions," said Michel Pucherchos, CEO of Lafarge Africa. ...
Lafarge Maldives celebrates 8 years zero lost time injuries
Lafarge Maldives has reached an important milestone on 22 September 2017, celebrating eight consecutive years of zero lost time injuries. At Lafarge Maldives, employees aim to conduct their business with zero harm and create a healthy and safe environment for all stakeholders. Lafarge Maldives Cement has actively participated in Occupational Safety & Health Conference 2017, organised by...
CRH plans cash bid for PPC
Ireland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unu...
Adelaide Brighton investigates AUD$14m underpayments to customers
Adelaide Brighton announced on Monday that "it has identified certain financial discrepancies which relate to transactions under which a small number of customers may have underpaid for product supplied to them." The company is investigating the matter fully, including the possible involvement of an employee of the company, with the assistance of forensic accountants KPMG. Adelaide Brighton...
Taiwan Cement plans to create 20MW of green energy
Taiwan Cement Corp plans to spend TWD980m (US$32.45) on a green energy project at the Changhua Coastal Industrial Park. The project involves the development of photovoltaic systems and onshore wind farms, according to the Taipei Times. The project intends to regenerate the company’s unused facilities at the industrial park. Due to begin operations in 2Q18, it is expected that 20MW of electr...
Sinai Cement swings into the red in 9M17
Egypt’s Sinai Cement has reported losses of EGP-253.5m (US$-14.4m) in the first nine months of the year, against profits of EGP21.8m in 9M16, as shown by the company’s independent financial statements. During the nine-month period, sales rose to EGP939.29m, up 1.1 per cent from EGP929.22m in the year-ago period. Sales costs quadrupled to EGP972.2m from EGP235.3m.
Cementos Argos raises cement volumes by 16.7% in 3Q17
Cementos Argos reports in its 3Q17 results that consolidated cement volumes reached 4.2Mt, with a 16.7 per cent increase driven by positive dynamics in the company's operating regions and the consolidation of the Martinsburg plant operation. Concrete volumes decreased 6.1 per cent, due to the performance of Texas and Colombia. The adjusted EBITDA, excluding no-recurring items associated ...
HeidelbergCement reduces Georgia investment
HeidelbergCement is raising EUR115m (US$134m) by selling 50 per cent of its Georgian subsidiary to a Georgian investment fund called Cement Invest, which belongs to Georgian Co-Investment Fund and Hunnewell Partners, a special situations investment fund. HeidelbergCement has been active in Georgia since 2006 and a new kiln line is currently under construction that is expected be completed b...
Fujairah Cement reports 3% fall in revenue
Fujairah Cement Industries has reported a three per cent decline in revenue in 3Q17, according to Mubasher. The company posted a revenue of AED136.68m (US$37.21m) down from AED140.35m of the year-ago period. Fujairah Cement's general and administrative expenses rose 71 per cent YoY. The UAE-based cement producer's net profit has fallen 50 per cent YoY to AED6.19m from AED12.39m of 3Q16. F...