Cement News tagged: Corporate
Italcementi increased net loss
Italcementi's turnover improved by 3.5 per cent in 2015 to EUR4301.6m, but EBITDA declined by 10.3 per cent to EUR584m and the trading profit fell by 36.6 per cent to EUR148.4m. The pretax profit was more than halved falling from EUR79.6m to EUR30.9m. The net attributable loss emerged 12 per cent higher at EUR120m. The net debt was 0.6 per cent higher at EUR2169.7m, giving a gearing level o...
Restrepo appointed VP of Cementos Argos division
Camilo Restrepo has been appointed the new Vice President of Cementos Argos' Caribbean and Central American regional division, the company announced yesterday. Mr Restrepo began his career with Cementos Argos in 2005 as a research and development analyst and subsequently became an environmental professional and R&D Manager. In 2012 he was appointed as the company's Vice President of Innovati...
Paraguay: INC kiln out for fuel conversion
Paraguay’s Industria Nacional del Cemento (INC) will switch off its kiln in July to carry out a three-month fuel conversion at its Vallemi plant, according to Jorge Méndez, INC’s CEO. It is expected that the kiln will be fired up again in October, using petcoke instead of the current fuel oil. At present the company is preparing a call for tender to clinker suppliers for the delivery of ar...
Summit Materials sees volumes and prices increase across most lines
Summit Materials saw volume and prices increase across most lines of business in 2015, with revenue rising by 20.5 per cent led by its West and Cement segments, the company said in a statement. Tom Hill, CEO of Summit, stated: “2015 marked a significant year of progress for our company, in which we meaningfully enhanced our materials exposure, improved our capital position and met or exceed...
Lafarge halts EUR20m investment in Sagunto plant, Spain
The management of Lafarge yesterday made public its decision to halt the expansion of its quarry and its plant at Sagunto, Spain, due to “the uncertainty created by the new local government and the lack of viable alternatives,” according to El Mercantil Valenciano. The cement producer had intended to spend around EUR20m in upgrading its plant. In 2013 Lafarge and the town council of Sagunto ...
KHD informed of arbitration award
KHD Humboldt Wedag International said it has been informed of an award from a Portuguese arbitration court, whereby KHD and its subsidiary Humboldt Wedag Inc (USA) are jointly ordered to pay damages to a customer in South America. Humboldt Wedag Inc’s arbitration claim for disbursement of outstanding payments, reimbursement for a called bank guarantee, as well as additional compensation (for...
Egypt receives 37 applications for new coal-fired cement plants
A total of 37 companies have applied for licences to construct new coal-fired cement plants in nine governorates, Daily News Egypt reported on Saturday citing Egypt’s Industrial Development Authority (IDA). Ismail Gaber, head of the IDA, said the new licences aim to increase investments in the cement industry to meet local consumption. Minister of Industry, Tarek Qabil, announced earlier ...
Pakistan: Fauji Cement sees 66% rise in 1HFY16 net profit
Fauji Cement Co (FCCL) has a reported a profit after tax of PKR2.77bn (US$264m) during 1HFY16 versus PKR1.668bn during the same period last year, up 66 per cent YoY. During the first half dispatches increased by seven per cent YoY, stemming from rising domestic dispatches – up 13 per cent YoY, due to an acceleration in private sector construction activities and the materialisation of the gov...
Shanshui Cement unit defaults on third onshore bond, China
Shanshui Cement's key operating subsidiary Shandong Shanshui Cement Group defaulted on its third onshore bond. According to a statement posted on Shanghai clearing house on 14 February, Shandong Shanshui could not pay in full of the bond's principal and coupon due on February 12 because some of its banks accounts and assets were frozen due to lawsuits against the company. The principal a...
Fujairah Cement Industries 4Q net profit up 26%
UAE-based Fujairah Cement Industries (FCI) posted a 26 per cent jump in fourth-quarter net profit of AED26m (US$7.07m) compared to AED8.71m (US$2.37m) in the same period of 2014. FCI’s full-year net profit climbed 96.55 per cent to AED50.65m (US$1m) as compared to AED25.77m (US$1m) in the fiscal year of 2014. The company's sales in 2015 reached AED612.21m, down 0.53 per cent versus AED615.5m...
Buzzi Unicem preliminary figures show revenues rise 6.2 per cent in 2015
Buzzi Unicem’s preliminary results for 2015 show a 6.2 per cent rise in revenues to EUR2662m from a year earlier. Thanks to the strengthening of the dollar, which was partly offset by the devaluation of the Russian ruble and the Ukrainian hryvnia, foreign exchange fluctuations had a favourable impact of EUR101m. The group’s net debt fell to EUR1.03bn in 2015 from EUR1.06bn in 2014. It expec...
Operational efficiencies and cost savings boost Siam City Cement 4Q15
Siam City Cement Co (SCCC), Thailand's second-largest cement producer, achieved a 45 per cent increase in 4Q15 net profit due to a reduction in costs and non-recurring items. Vorathep Rangchaikul, chief executive officer of SCCC, told The Nation that the cement producer attributed the strong performance to efficient production operations at high-capacity utilisation and cost savings harness...
ACC full-year volumes impacted by mine closure, slow economic start to year
ACC Ltd, part of the LafargeHolcim group, reported a 2.4 per cent decline in 2015 sales volumes to 23.62Mt due to the temporary closure of mines serving its Chaibasa and Bargarh plants in eastern India, and the generally slow pace of the economy earlier in the year. Cement volumes during the final quarter of the year witnessed a turnaround, improving by four per cent YoY to 6Mt. The comp...
Glenwood PE & Baring Private Equity Asia reportedly make bid for Lafarge Halla Cement
South Korea’s private equity fund Glenwood Private Equity and Hong Kong-based private equity fund Baring Private Equity Asia are to buy Lafarge Halla Cement Corp (South Korea) from LafargeHolcim Ltd for around KRW550bn (US$455.1m), report local media. According to investment bank industry sources on Friday, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim, t...
Oman: Raysut Cement reports 24% drop in 2015 net profit
Raysut Cement reported a 23.6 per cent drop in 2015 net profit to OMR20.95m (US$54.4m) from OMR27.43m a year earlier. Total revenues edged 0.4 per cent higher last year to OMR94.68m. Gulf Baader Capital Markets (GBCM) said Raysut Cement''s revenue came above its estimates of OMR91.74m. The brokerage company said that despite the drop in Raysut Cement''s exports to Yemen – which accounts for ...
India: Ambuja Cements reports flat growth in full-year volumes
Ambuja Cements, part of the LafargeHolcim group, reported flat sales growth for the 12 months ending 31 December 2015. The company underlined that during the year the Indian cement market largely remained subdued although there was a 5.2 per cent rise in volumes during the final quarter. However, lower cement price realisation led to overall net sales being down by 5.5 per cent in 2015 to IN...