Cement News tagged: Corporate
Shiva quarterly net loss deepens
India’s Shiva Cement has reported a deepening net loss of INR86m (US$1.33m) in the July-September 2017 quarter when compared with a net loss of INR26.3m in the year-ago quarter. Sales fell 41.8 per cent to INR36.6m in the quarter ended September 2017 when compared with INR62.9m in the July-September 2016 quarter.
LafargeHolcim's cement volumes increase by 4.7 per cent in 3Q17
LafargeHolcim announced cement volumes were up 4.7 per cent in 3Q17 and 1.8 per cent for the year to date. Globally, cement prices improved by 5.6 per cent in the quarter compared to the prior year on a like-for-like basis. Operating EBITDA adjusted increased by 5.9 per cent in the quarter to CHF1.750bn (US$1.751bn) on a like-for-like basis and was 9.2 per cent higher for the year to date....
Cemex 3Q17 net sales total US$3.5bn
Cemex announced that its consolidated net sales reached US$3.5bn during the 3Q17, representing an increase of two per cent, or an increase of one per cent on a like-to-like basis, versus the comparable period in 2016. Operating EBITDA decreased by eight per cent during the quarter to US$702m versus the same period in 2016. Fernando A Gonzalez, Cemex Chief Executive Officer, said: "We are pl...
LafargeHolcim in talks with PPC
LafargeHolcim announced that it is in talks with the board of directors of PPC regarding a possible transaction in Africa. “No agreement with PPC has yet been reached and no assurance can be given at this stage that a transaction will materialise,” said the building materials producer in a brief statement.
HK Stock Exchange may propose delisting China Shanshui Cement
China Shanshui Cement Group Ltd said the Hong Kong stock exchange would seek to delist the firm if it was not able to restore a minimum public float of 25 per cent of its issued share capital by the middle of next year. The cement producer has been embroiled in a bitter boardroom battle involving investors and executives, and has been suspended from trading in the past two-and-a-half ye...
Eagle Materials Inc 2Q fiscal 2017 cement volumes rise
Eagle Materials Inc reported that in its financial results for the 2Q fiscal 2017, ended 30 September 2017, cement volumes were up 12 per cent, including the Fairborn business, while the Texas Lehigh cement joint venture volumes were down six per cent. The company also benefitted from cement prices being up seven per cent overall. Second-quarter EBITDA increased five per cent, reflecting th...
Elementia sees 39% rise in 3Q EBITDA
Mexico-based Elementia reported EBITDA of MXN1.296bn (US$67.9m) in 3Q17, an increase of 38.9 per cent YoY. The company attributes the rise in earnings to higher sales and prices in its cement division. The company posted third-quarter revenues of MXN6.555bn, up 40 per cent when compared with the July-September 2016 period. Net income reached MXN340m, swinging the building materials firm ...
Eurocement Group to invest in Kaliningrad plant
Russia’s Eurocement Group is reported to be considering investment in the construction of a new plant in the Danor industrial park, in the Guruyevsky district of the country’s Kaliningrad exclave, according to the Government of the Kaliningrad region. The new cement works is expected to reduce the region’s dependence on cement trucked in from other parts of Russia while making a positive co...
Maple Leaf reports growth in 1QFY18
Maple Leaf Cement Factory Ltd (MLCF) has reported that during 1QFY18 its profit after tax (PAT) stood at PKR1.05bn (US$9.9m), showing a growth of 47 per cent on QoQ basis. MLCF incurred selling and distribution expense of PKR266m and administrative expense of PKR150m during this quarter against PKR373m and PKR122m incurred respectively in 1QFY17.
Fire crews sent to Capitol Cement's San Antonio plant
Capitol Cement's San Antonio plant had 30 fire crews sent to it on the 11500 Bulverde Road, north of Wuzbach Parkway, yesterday morning after a fire broke out inside one of the company's asphalt towers. No workers were injured. The fire was isolated and other areas of the plant were unaffected, but the fire crews had to use large volumes of water because of the type of materials that were b...
Ambuja Cements sees 9.7% net profit rise in 3Q
LafargeHolcim-owned Ambuja Cements' standalone unaudited income remained stable in 3Q17 at INR24.73bn (US$379.8m) when compared with the previous year (3Q16: INR24.72bn) but noted a 25.4 per cent drop when compared with 2Q17, when it reached INR33.16bn. Profit before tax rose 11.3 per cent YoY to INR3.36bn from INR30.02bn but saw a 38.6 per cent decrease QoQ (2Q17: INR5.47bn) while net prof...
GCC reports 16% sales boost in 3Q results
Grupo Cementos de Chihuahua announced its results for the third quarter of 2017, which reflect the successful integration of the operations acquired in Texas and New Mexico late last year as well as favourable pricing in the US and Mexico, and progress in implementing the company’s growth strategy. Total sales increased 15.9 per cent YoY to MXN4.968bn (US$258.8m) in 3Q17 from MXN4.288bn. The...
Lafarge Surma calls for a revaluation of Holcim shares to complete its merger
Lafarge Surma Cement (now LafargeHolcim Bangladesh Ltd) has appealed to Bangladesh Bank to review its valuation of the Holcim share price, which the French cement maker says has been significantly undervalued by the central bank. In December 2016 Lafarge Surma signed an agreement with the Amsterdam-based Holderfin to purchase its holdings of Holcim Cement Bangladesh for BDT9360m (US$117m)....
Government may step in to outsource the Samba plant
India's government is considering to outsource the operation of the Samba cement plant, part of JK Cement Group. "The delay in its launching [the Samba plant] has been attributed to inordinate delay on the release of equity by the government and also delay in the installation of receiving station by PDP," sources maintained. An official of the JK Cements Ltd told the Kashmir Observer t...
Southern Province Cement sees two-third drop in 3Q profit
Saudi cement producer Southern Province Cement saw its third-quarter sales decrease 43.2 per cent to SAR216m from SAR380m in the 3Q16. The company’s net profit declined by 67.2 per cent to SAR57m from SAR174m in the same period a year ago.
Jinyuan Cement approves environmental technology company acquisition
Jinyuan Cement Co Ltd company has approved of its subsidiaries acquisition of Shanghai Huayu Environmental Technology Co Ltd. Directors of Jinyuan Cement approved Golden Circle Cement Co Ltd's acquisition of the technology company. Through Golden Circle Cement Co Ltd, Jinyuan Cement Co now has a 51 per cent stake in Shanghai Huayu Environmental Technology. The acquisition was made to speed...