Cement News tagged: Corporate
Siam Cement Pcl sees 16% fall in profit
Siam Cement Pcl reported a 16 per cent fall in 3Q17 net profit on Wednesday due to weak demand and lower margins in its chemical and packaging segments. According to a poll by Thomson Reuters, the net profit for the third quarter was THB11.84bn (US$357.06m) thereby missing expectations of THB14bn. Revenue from sales rose seven per cent to THB112.43bn. Domestic cement volume sales were also do...
Pacasmayo reports 6.7% rise in 3Q income
Cementos Pacasmayo increased its deliveries of cement, concrete and blocks by 4.8 per cent YoY in 3Q17 due to a higher level of self-construction activity and the recovery in public spending towards the end of the quarter. The Peru-based cement producer reported a 6.7 per cent YoY advance in income to PEN334.7m (US$103m) as a result of increased sales volumes and higher prices. Consolidated ...
Carthage Cement sees 11% fall in 3Q turnover
Tunisia’s Carthage Cement saw its turnover fall by 11 per cent YoY to TND132.4m (US$53.1m) in 3Q17 from TND149m in 3Q16. The company’s domestic sales remained stable at TND95.437m, leading to a market share of 19 per cent. In terms of export sales, revenues fell by 77 per cent in the 12 months to 30 September with some sales to Libya. However, the company has not been able to recover in...
Caribbean Cement limits its risk of rising fuel consumption
Caribbean Cement Company Ltd is now hedging its fuel bill to stabilise its costs. The company started to invest in hedges in the second quarter, amid rising sales and profit at the Rockfort-based operation and has spent US$70.76m on the hedges so far this year. Caribbean Cement entered into forward contracts through its ultimate parent company, Cemex of Mexico, to hedge the price of estima...
Loma Negra sets its IPO at US$19/ADS
Loma Negra Cia Industrial Argentina SA said on Tuesday its initial public offering was priced at US$19 per American Depository share (ADS), raising about US$954m (US$40.4m). The US$50.2m ADS offering was priced at the top of the proposed range of US$15 to US$19, with each ADS representing five common domestic shares. Most of the proceeds will go to InterCement Brasil SA, Brazil’s second-...
CoolCure set to take the heat out of hydration
New Technology Solutions LLC, a subsidiary of Silicone Solutions (Cuyahoga Falls, OH, USA), has developed a patent-pending (PCT US15/11849) CoolCure technology to significantly reduce or eliminate the heat of hydration. CoolCure works by minimising byproducts (calcium hydration) and creating more efficient reaction in the cement curing process to generate more strength, "from 40-100 per cent...
Ashaka Cement approves Lafarge Africa's acquisition deal
Shareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory ...
Saudi Arabian companies report profit falls in 3Q17
Saudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in ...
Caribbean Cement consolidated profit hits JMD2bn
Caribbean Cement group reported YtD consolidated profit before tax of JMD2.01bn (US$15.86m) over nine months compared to JMD1.26bn last year, reports Loop Jamaica. The two-thirds jump was attributed to a JMD437m write-down of overstocked items identified in 2016 and JMD407m incurred during the implementation of restructuring programmes last year. In the reporting quarter, the group a...
Fauji Cement records a 1QFY18 net profit of PKR444m
Fauji Cement (FCCL) has earned net profit after tax of PKR444m (US$4.2m) in 1QFY18, down by 27 per cent YoY. The company's sales stood at PKR4.79bn, up by nine per cent YoY . FCCL reported incurring distribution cost of PKR40m and administrative cost of PKR74m during this period. This translates distribution cost increasing by 18 per cent but administrative cost fell by five per cent...
Habesha Cement forced to halt production
Habesha Cement, has halted its cement production at its plant near Holeta city, Oromia State due to a security threat. The decision was made after young anti-government protestors occupied the cement manufacturing plant which was inaugurated last April. Mesfin Abi (Eng), CEO of Habesha Cement SC, explained production was suspended. "More than 20 youngsters from the locality and other places ...
Cherat Cement Pakistan profits up by 50%
Cherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY. The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17. Along with result, CHCC announced the installation of a 10MW WHR s...
Cemex Philippines sees 63% fall in 9M17 income
Cemex Holdings Philippines Corp said on Friday that its net income for the first nine months of 2017 had fallen 63 per cent as a result of lower prices and volumes amid heightened competition. Net profit in the 3Q17 declined to PHP688m (US$13.33m) from the PHP1.88bn reported in the same period last year primarily due to lower prices and volumes. The company said financial expenses fell ...
Livetouch Investments starts production at Redcliff plant
Livetouch Investments has commenced cement production at its 410,000tpa capacity plant in Redcliff, Zimbabwe, a senior company executive said. Managing director Dongning Wang told The Sunday Mail Business that the US$34m plant had started operations and has the second biggest production capacity of all local cement producers. Livetouch’s production is currently being distributed to pote...
Holcim Philippines breaks ground on Kalayaan project
Holcim officials broke ground at its Davao plant, where two major projects are being undertaken to raise the works’ production capacity from 1.4Mta to 2.2Mta. The PHP1.5bn (US$29m) Kalayaan project will see the automation of loading of its products from ship-to-dock and an increase in grinding project. The Davao expansion is part of Holcim Philippines’ PHP2.7bn investment to raise its do...
Lucky Cement profits grow by 6.8% in 1QFY18
Pakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY. The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY. The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1...