Cement News tagged: Corporate
Cimpor hit by the weakness in Brazil
Cimpor's nine month turnover declined by 1.2 per cent to EUR1,927.9m and the EBITDA came off by 14.2 per cent to EUR395.1m as cement deliveries in Brazil, Egypt and South Africa fell by 15.8 per cent, 13.8 per cent and 7.7 per cent respectively. Argentina, on the other hand, improved shipments by 9.3 per cent. The trading profit (EBIT) came down by 22.7 per cent to EUR248.5m and the net fin...
Claudius Peters' ETA Cooler® exceeds 13,000tpd in China
Launched in 2004 by Claudius Peters Projects GmbH, the ETA Cooler® has reached a new capacity milestone as a model with a capacity of over 13,000tpd went into production earlier this year in China. Over the last decade or so the company has progressively offered the market increasingly higher capacity models, now reaching 13,000tpd – currently the world's highest capacity cement line producti...
China Shanshui Cement top shareholder to fund bond redemption
China Shanshui Cement's top shareholder, Tianrui Group, said it will provide funds to the cash-strapped firm to redeem a US$500m global bond, Reuters reports. "Tianrui Group shall cause Shanshui Cement to have sufficient funds in order to support the redemption of such 2020 Notes as required," China Tianrui Group said in a notice to the Hong Kong Stock Exchange late on Tuesday. China Sh...
Lafarge Malaysia net profit boosted by cement revenue
Lafarge Malaysia Bhd, the country's largest cement manufacturer, recorded a 28.9 per cent increase in net profit to MYR70.65m (US$16.30m) for the third quarter ended 30 September 2015 from MYR54.81m, mainly due to higher sales from the cement segment, improved plant performance, and higher foreign exchange (forex) gains. Revenue for 3QFY15 rose slightly to MYR670.88m from MYR664.63m in 3QFY14...
UK: Breedon to acquire Hope Construction Materials
Breedon Aggregates of Leicestershire, UK, has agreed to acquire Hope Construction Materials for GBP336m (US$510.94m). Hope Construction Materials, is a major producer of cement, concrete and aggregates in the UK with more than 160 operational sites. In 2014 Hope sold 1.6Mt of cement, 4.7Mt of aggregates and 2.2Mm 3 of concrete, generating revenue of GBP273.5m and profit before tax of GBP18.7m...
SCC Asean expansion on track
Thailand's largest cement producer Siam Cement Co (SCC) said it is on course to bring 6.3Mta of new cement capacity online in its key target markets of Cambodia, Indonesia, Myanmar and Laos between 2015-17. In an update on its strategy for its cement & building materials unit, reported on by SCB Securities in The Nation (Thailand), SCC said the investment programme is expected to not only pro...
Sri Lanka: Tokyo Cement launches skyscraping brand
Tokyo Cement Group has launched its Nippon Cement-Pro brand. This is a new brand of high-performance cement specially formulated for high-rise buildings/skyscrapers and large-scale projects that require high quality and ultra-strong concrete. With buildings that require more than 30 floors becoming a norm as a result of Sri Lanka's expanding economy, Nippon Cement Pro, offers contractors, ci...
China Shanshui weighs up fundraising options following default
China Shanshui Cement says it is exploring a range of option to raise funds after defaulting on a CNY2bn (US$3.36m) bond last week. The options include issuing new shares to existing or other investors, restructuring part of its assets and securitising some of its assets by creating mortgages, the company said in a filing to the Hong Kong Exchanges & Clearing on Monday. “Each of these propos...
Kenya: ARM seeks KES10.7bn in private bond
ARM Cement is set to raise up to KES10.7bn (US$105m) in debt funding from private investors, to retire short-term debts, Kenya's Business Daily newspaper reported . The cement manufacturer is now raising the amount through a privately placed five-year bond whose offer opened on Thursday last week and runs until 2 December. “The proceeds from the five-year bond will be used to replace exist...
KHD Humboldt Wedag nine-month performance
KHD Humboldt Wedag reported a 26.2 per cent decline in consolidated revenue for the first nine months of the year to EUR125.4m, primarily due to the low order backlog at the beginning of the financial year, the company said in its 3Q15 interim report released last week. Significant contributions to revenue in this nine-month reporting period came primarily from projects in Russia and North A...
Loesche to complete grinding series for Angola plant
Sinoma International ordered Loesche's complete grinding series for the cement plant of Nova Cimangola SA in Luanda, Angola. These will be the first Loesche vertical roller mills in Angola. The order for Nova Cimangola SA includes one cement raw material mill of the type LM 48.4, with a capacity of 400tph and two cement mills of the type LM 46.2+2 C/S, which are designed to have a capacity of...
Morocco: Cimar sees 7.6% EBITDA rise in 3Q15
Italcementi-owned Ciments du Maroc (Cimar), Morocco, saw its turnover rise 1.8 per cent to MAD823m (EUR77.4m) in 3Q15, according to analysts at BMCE Capital Bourse. The figures do not reflect the current slowdown in public works and a lack of investment in social housing, which saw cement and clinker flows fall by 15.8 per cent QoQ (-4.2 per cent in 9M15). The rise in the cement price as wel...
CRH sues for return of files seized in competition inquiry
Irish building materials major CRH has gone to the High Court to seek the return of documents seized by the Competition and Consumer Protection Commission (CCPC) in a "dawn raid" in May, The proceedings relate to a raid carried out on CRH subsidiary Irish Cement earlier this year as part of a competition inquiry. CRH has now lodged court proceedings seeking a declaration that certain se...
Fujairah Cement Industries net profits rise 45%
Fujairah Cement Industries (FCI) announced a 45 per cent increase in its net profits for the first nine months of 2015, compared to the same period last year. Profits reached AED24.7m (US$6.7m) in the first nine months this year, up from AED17.06m (US$4.64m) in the same period of 2014. The statements also showed a rise in the sales by about 1.5 per cent to AED454.27m, from AED447.4m in 2014....
FLSmidth 3Q order intake increases 16%
FLSmidth reported that its overall order intake increased 16 per cent to DKK5151m in the third quarter of 2015. Meanwhile the order backlog decreased 16 per cent to DKK16,666m. Revenue fell by seven to DKK4609m while EBITA was down by 27 per cent to DKK 358m. Net profit amounted to DKK -84m (3Q14: DKK 215m) The Danish equipment supplier highlighted that reported numbers in 3Q were impacted...
Northern Cement Co nine-month net profit drops, Jordan
Northern Cement Company posted a drop of 22.7 per cent in its nine-month profit, as it slipped to JOD10.9m (US$15.3m) this year, down from JOD14.1m ($19.8) last year. In 1H15, the Amman-listed company’s profits fell into 24.15 per cent decline, reaching JOD7.42m (US$10.4m). Northern Cement Co, located in Muwaqqar, 40km east of Amman, was established in 2007 and started supplying cement to th...