Cement News tagged: Corporate
Lucky Cement plans Punjab plant
Lucky Cement posted a net profit of PKR2.968bn (US$28.2m) during the first quarter ended 30 September 2015, 11.2 per cent higher than the same period of last year. Revenue declined by 1.2 per cent to PKR10.34bn versus PKR 10.47bn a year earlier. The reduction was attributed to a 2.7 per cent in sales volumes which was partially offset by 1.5 per cent increase in net retention due to improve...
West China Cement to acquire Shaanxi-based producer
West China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m). Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta ...
ASEC to sell ASEC Minya Cement, ASEC Ready Mix
Qalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa...
Medcem Cameroon starts production
Medcem Cameroon, part of Turkey-based Eren Holdings, has commissioned its new plant in Yaoundé, Cameroon, after delays that saw the unit postpone the start of operations from March to June and October. The company’s output is sold in 50kg bags, which retail at CFA4750 (US$7.97), according to local press reports.
Holcim Philippines reports double-digit rise in net profit
Holcim Philippines’ profits for the nine months of 2015 grew by 12.67 per cent to PHP4.55bn (US$97.2m) from PHP4.04bn last year. Sales reached PHP27.99bn, up 9.44 per cent from a year earlier. Cement demand was healthy nationwide and strongest in the Visayas and Mindanao, driven by both private and public sector demand. Holcim Philippines Country CEO Eduardo A. Sahagun said the company’...
Cementos Pacasmayo EBITDA up 14.4 %
Peru-based Cementos Pacasmayo's consolidated EBITDA in the 3Q15 increased 14.4 per cent to PEN99.6m (US$30.3m) in 3Q15 from PEN87.1m in 3Q14, giving an EBITDA margin of 31.8 per cent versus 27.5 per cent in 3Q14. Revenues fell one per cent from 3Q14. Net income increased 36.5 per cent to PEN55.3m in 3Q15 from PEN40.5m in 3Q14. During the third quarter, the company's Piura cement plant began ...
Anhui Conch Cement reports decline in operating profit
Operating profit at Anhui Conch Cement fell 31 per cent YoY to CNY7.05bn (US$1.1bn) in the nine months through September on the back of weaker demand and pricing competition. Revenue dropped 13 per cent to CNY37.9bn, the Shanghai-listed company reported Tuesday.
CIMAF inaugurates Cameroon plant
Ciment de l’Afrique (CIMAF), a subsidiary of the Addoha Group of Morocco, has opened its new factory in Cameroon. The new plant, located in the industrial area of Bonaberi in Douala, was inaugurated by the Prime Minister of Cameroon, Philemon Yang. Commissioning of the plant comes nearly a year after the start of cement production by the plant with a current capacity of 500,000tpa.
SCCC third-quarter net profit down on weaker demand and pricing
Siam City Cement Co (SCCC) of Thailand posted a 3Q15 net profit of THB823m (US$23.1m), falling 22 per cent YoY. Lower domestic cement demand and selling price led the company's income to fall five per cent YoY to THB7419m. Although exports to neighbouring countries (eg, Cambodia, Myanmar, and Laos) grew, it was not strong enough to offset declining domestic sales as price competition intens...
HAZEMAG supplies Lehigh Cement (USA)
Lehigh Cement Company (Heidelbergcement Group) ordered a semi-mobile limestone crushing plant at HAZEMAG for its Union Bridge works, USA. The plant will process up to 2500tph of limestone with a feed size of up to 2000mm. The material is discharged by means of a HAZEMAG apron feeder HAF 25160 from a 400t feed hopper. The fines in the feed material are screened at 100mm on a HAZEMAG roller scr...
Oman: OCC net profit impacted by gas price hike
Oman Cement Co (OCC) reported a 38.7 per cent fall in net profit for the nine-month period ended 30 September 2015, mainly due to the increase in gas prices from the beginning of this year. During the period net profit dropped to OMR6.99mnfrom RO11.41mn a year earlier. The decrease in profit is mainly due to higher energy costs incurred by the company as a result of the doubling of gas prices...
LafargeHolcim reportedly plans to launch downsizing plan in Spain
LafargeHolcim plans to launch a downsizing plan for 15 per cent of its workforce in Spain, according to local press reports. The launch of the downsizing plan was attributed to the difficulties that the company faces in Spain, due to the low cement demand in the country and the overlapping of workforces following the merger of Lafarge and Holcim, market sources said. LafargeHolcim currentl...
Penta Machinery is the new Distributor for Terex MPS Products in Uganda and Kenya
Terex® Minerals Processing Systems, a leader material processing technology for modular, portable and static crushing and screening equipment, announced the appointment of Penta Machinery as a new Distributor for Kenya and Uganda. Penta Machinery will now provide coverage for new equipment purchases and service and support in Kenya and Uganda. Customers’ needs will be met by a dedicated team ...
Peru: Unacem nine-month net income up 16.2%
Peru's largest cement producer Unacem boosted net income by 16.2 per cent over the nine months to the end of September 2015 due to higher prices and lower costs. Unacem posted a PEN176m (US$55m) profit as sales rose 5.5 per cent to PEN1.37bn in the first three quarters of this year, the Lima-based company said in a corporate filing to securities regulator SMV. The company said it cut operati...
SCG reports third-quarter results, names new chief
Siam Cement Group (SCG), Thailand's largest industrial conglomerate, said on Wednesday its quarterly net profit rose 15 per cent YoY as improved margins from petrochemical products offset weak performance of cement and packaging businesses. July-September net profit was THB9bn (US$253.59m). But profit dropped 19 per cent from the previous quarter due to weaker chemical prices and inventory l...
Japan: Sumitomo Osaka Cement operating profit seen rising
Japan-based Sumitomo Osaka Cement's group operating profit is expected to jump 13 per cent for the April-September half on rising sales and declining coal prices, according to a Nikkei earnings preview report. The profit of around JPY10bn (US$82.1m) would be a record for the half, surpassing guidance of JPY9.1bn. Sales likely grew three per cent to around JPY115bn, edging above guidance of JP...