Cement News tagged: Corporate
Steppe Cement 2Q17 revenues rise 27%
Steppe Cement announced that its 2Q17 revenue of KZT9312m (US$27.7m) was 27 per cent higher than the KZT7316m achieved in the corresponding quarter in 2016. Sales volumes reached 685,745t during the third quarter, a 12 per cent increase from the 3Q16 due to good clinker output and stock availability. For the nine months ended 30 September 2017, Steppe Cement Ltd recorded a revenue of ...
CNBM moves closer to full integration of 15 listed subsidiaries
China National Building Materials Group Corp is moving closer to full integration with talks ongoing to integrate some of CNBM 15 subsidiaries listed both at home and abroad. Among the 15 publicly-traded companies, three are listed overseas. The move follows the announcement in September of a merger between CNBM Group and China National Materials Group Corp (also known as Sinoma), another st...
BAML: Boral best placed to benefit from Australia’s infrastructure boom
ASX investors looking to benefit from the AUD100bn infrastructure boom could do well by placing their bets on Boral, according to analysts at Bank of America Merrill Lynch (BAML). The cement producer’s comparative advantage lies in its exposure to the infrastructure spend over the next decade, combined with expanding profit margins in the US. BAML building materials analyst Sophie Spart...
ARM Cement receives US$15m cash boost from shareholders
ARM Cement will receive an additional US$15m cash injection from its key shareholders to help shore up its financial position as it searches for a strategic investor. Managing Director, Pradeep Paunrama, said part of the new money is aimed at helping ease the cement maker's tight cash position and will mainly be channelled to its Tanzanian unit as capital expenditure. "We are looking at i...
Taiwan Cement sees 14% rise in September revenues
Taiwan Cement Corp reported revenues of TWD8.071bn (US$266.8m) in September 2017, up 13.9 per cent from TWD7.087m in the year-ago period, according to a note filed to the Taiwan Stock Exchange. For the first nine months, the cement producer saw its revenues increase by 9.4 per cent YoY from TWD63.024bn in 9M16 to TWD68.952bn in 9M17. Taiwan Cement Corp is Taiwan's largest cement produc...
Industria Nacional del Cemento sells close to 10m bags in 9M17
Paraguay’s Industria Nacional del Cemento (INC) has sold 9,855,397 bags of cement in the first nine months of 2017, equivalent to 74.6 per cent of the total sold last year (13.2m bags), according to the cement company’s sales department. The growth in sales is attributed to the commissioning of a new cement mill and pozzolan dryer at the Villeta works. INC President, Jorge Méndez, said the ...
Flying Cement Co reports 11% rise in post-tax profit
Pakistan’s Flying Cement Co Ltd reported a 0.24 per cent fall in its full-year sales to PKR2.47bn (US$23.4m) in 2017 from PKR2.476bn in 2016. However, the company’s operating profit (before finance costs) rose from PKR119.8bn to PKR142.6bn over the same period after PKR6.1m in distribution costs, PKR39.5m in administrative expenses and PRK15.2m in other expenses were deducted. Finance costs...
Benghazi Cement takes initial steps to reopen
Benghazi’s Hawari cement factories, in Libya, is being helped to reopen. British consultants met with the city's Mayor Abdelrahman Al-Abaar last week in talks on restarting the stalled factories, reports Libya Herald. Work is to start on demining work on the premises and its surroundings together with an assessment of the huge damage caused by the extensive fighting that took place in and ar...
Kohat Cement seeks approval for 7800tpd plant
Kohat Cement Company Ltd (KOHC) of Pakistan is in process to get approval from concerned departments for its already-announced 7800tpd expansion project at plant site Kohat in the Khyber Pakhtunkhwa province of Pakistan. The expansion is expecting to come online by FY20. According to a report of Intermarket Securities Ltd, the project is estimated to cost around US$120m, which will be fin...
Ambuja Cement disrupted by trucker strike
Cement and clinker truckers carried through their Monday strike in Himachal Pradesh over various demands, including a revision of the Goods and Service Tax rates and an end to daily revision of diesel prices, reports The Tribune. "We are observing the day-long strike on the call for a nationwide strike," said truckers’ association spokesperson Ram Kishan Sharma. More than1200 truckers w...
Fauji Cement Line II expected to be running at the end of October
Fauji Cement Company Ltd’s (FCCL) of Pakistan is making efforts to revive production from Line II following an accident last year which affected plant production. According to local research house, the company has taken the advantage of the line's needed reconstruction to expand its capacity from original 7200tpd to 7600tpd. FCCL suffered depressed operations in FY17 post collapse of its 2...
Géraldine Picaud appointed new LafargeHolcim CFO
LafargeHolcim announces the appointment of Géraldine Picaud as Chief Financial Officer of LafargeHolcim and member of the Executive Committee with effect from 1 February 2018. Ron Wirahadiraksa, the current CFO, has decided to pursue opportunities outside the Group. He will remain in his role and provide a smooth handover to Géraldine in due course. Géraldine Picaud, a French national, joins...
Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement
US cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Su...
Dangote pull out of potential PPC acqusition deal
Dangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital. Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, howeve...
Arabian Cement in merger talks with Al Safwa Cement
Arabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Social Insurance (GOSI). Arabian Cement has been attracted by the locational advantage of the plants of both companies and source of raw materials, besides the cost savings in selling, general and administrative ex...
Duqm to receive new cement plant in 2020
The SEZ Authority in Duqm (Sezad) and Al Wusta Cement Company, a partnership of Oman Cement Company and Raysut Cement Company, have signed a land use deal to build Oman’s third cement plant at the Duqm Special Economic Zone (SEZ), reports Trade Arabia. Under the terms of the agreement, the Al Wusta Cement Company will acquire a 500,000m 2 plot within the heavy industrial zone on lease for...