Cement News tagged: Corporate
Côte d'Ivoire: name change for Socimat
La Société ivoirienne de ciments et matériaux (Socimat) is changing its name to LafargeHolcim Côte d’Ivoire. “Resolutely committed to continuous satisfaction of its customers and partners, Socimat begins an important and decisive turning point in its 64-year history,” the company said in a statement.
Fabrizio Pedetto appointed new Colacem general director
Fabrizio Pedetto has been appointed as the new general director for Colacem with responsibility for the Italian, Albanian and Spain markets.
Ecocem invests EUR30m in new JV plant
Ireland’s Ecocem has invested EUR30m into a new production plant in the north of France as part of a joint venture with ArcelorMittal, the world’s largest steel company. The joint venture, in which Ecocem holds a 70 per cent stake, will increase the company’s capacity from 1.4Mta to 2Mta. The high-performance, low-carbon cement will be delivered to markets in the north of France and the UK....
PPC increase revenue and volumes in 3QFY15-16
PPC reported a nine per cent YoY rise in quarterly sales revenue, commenting that sales revenue in South Africa increased two per cent and volumes by at least nine per cent in the company's 3QFY15-16. However, revenue outside of South Africa was even stronger, growing 19 per cent as a result of significant volume growth, newly commissioned plants in Rwanda and gains made through currency trans...
India: Malabar Cement MD arrested over concessions to dealers
Malabar Cement managing director K Padmakumar has been arrested in a corruption case. Raids were carried out by the authorities on 1 September 2016 at Malabar cement office at Valayar and at Padmakumar’s official residence. They also had examined the residence of Malabar Cement's Deputy Manager, Venugopal at Valayar, reports Kaumudi Online. The arrest was based on the complaints that Padma...
Kohat Cement reports profit increase of 32.7%
Kohat Cement announced a profit after tax of PKR4.4bn (US$42.1m) for the financial year ending 30 June 2016, a 32.7 per cent increase from the PKR3.2bn achieved in the corresponding period last year. Gross profit was posted at PKR6.49bn compared to PKR4.81bn in the previous year. In the given period, net sales increased 12.4 per cent to PKR14.02bn compared to PKR12.47bn in the previous year...
Vietnam: multiple mergers and acquisitions
Siam City Cement (SCCC) is set to purchase 65 per cent of the stakes in LafargeHolcim Vietnam in a deal valued at US$524m. The acquisition is due to be completed in the 4Q once all administrative procedures are completed. This is not the first Thai purchase of Vietnamese cement operations. In 2012 SCG Cement bought Buu Long cement plant in the Dong Nai province. SCG has been developing mult...
New MD for Twiga Cement
Tanzania Portland Cement Company, or Twiga Cement, has appointed a new managing director following the departure of the company’s previous MD decision to take on a new role in parent company, HeidelbergCement Group. Alfonso Rodriguez was replaced by Alfonso Velez Martinez on 23 August, according to a company statement. Mr Martinez is said to have 20 years of experience in the cement industry. ...
Cimpor takes massive provisions in Brazil
Cimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the ne...
Lucky Cement's profits up 9.3%
As a result of an increase in turnover, Lucky Cement's full year profits increased by 9.3 per cent. The company reported earnings of PKR16.15bn (US$154.67m) compared to PKR14.78bn for the same period last year. These results are in line with the market expectations. Net sales were recorded at PKR98.65bn, compared to PKR96.47bn last year, and cost of production fell from PKR56.43bn to PKR54...
Sumitomo Osaka 1.4Mt coal consumption in 2015
Japanese cement manufacturer Sumitomo Osaka Cement reported that it had consumed 1.41Mt of coal for the fiscal year 2015 (year end 31 March 2016). This figure is a 2.7 per cent YoY decrease from the fiscal year 2014, when consumption reached 1.44Mt. Petcoke consumption for the same period was 0.1Mt, up 19 per cent from 0.08Mt from fiscal year 2014.
Nabil Francis new Managing Director of Ciments du Maroc
The Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India.
Cementos Bío-Bío 1H16 profits down 10%
Chile’s Cementos Bío-Bío saw its profits during the first half of 2016 fall by 10.1 per cent to CLP9168.69m from CLP10,200.19m reported in 1H15. Revenues increased 6.6 per cent from CLP142,479.58m in 1H15 to CLP151,900m.
Malaysia: CMSB 1H16 cement profits down 24%
Cahya Mata Sarawak Berhad (CMSB) has announced its earnings figures for the first half of 2016, including those of its cement division. This recorded a pretax profit of MYR41.7m (US$10.2m) on revenues of MYR275m. Both figures were down on those from the same period in 2015, with profits falling by 24 per cent and revenues 6.6 per cent lower. Profits fell faster than revenues due to CMSB’s i...
Dangote announces price rise, starts coal mining in November
Dangote Cement's sales growth remains robust with Nigerian vollumes up 15 per cent in July and August. However, in the current quarter, the company has seen disruption to the gas supply, its preferred fuel in Nigeria. This has led to a substantial hike in its fuel costs as the company increasingly relies on LPFO and, to a lesser extent, on coal as prices for these alternatives are up to three ...
Pakistan: DG Khan sees profit up 15%, expands capacity by a further 2.2Mta
Pakistan cement producer DK Khan Cement Co announced a 15 per cent YoY rise to PKR8.79bn (US$83.9m) in its profit after tax in FY16 from PKR7.624bn in FY15. Its sales rose to PKR29.703bn from PKR26.104bn in FY15bn and cost of sale increased PKR17.035bn from PKR16.649bn in the same period. Along with financial results, the company also announced a full and final cash dividend of PKR6.0/shar...