Cement News tagged: Corporate
Egypt: Arabian Cement’s profit decline 32% in 9M14
Egypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a year earlier. Cement sales increased 17 per cent to EGP1.78bn, up from EGP1.53bn.
Cemex says no bid on Lafarge-Holcim assets
Mexico-based Cemex has announced it will not make an offer for Holcim and Lafarge assets that are available due to the proposed merger of the two cement giants, said Cemex CEO, Fernando Gonzalez, in a conference call with analysts.
Claassen to replace Tomes as PPC MD
Johann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional engineer who joined PPC in 1989 and has served as executive of cement operations and of lime, and held various other senior and general management roles across the cement and lime d...
Holcim (Lanka) wins Silver SLIM brand award
Surpassing several high-profile brands from several different sectors and further cementing its place as one of the leading brands in Sri Lanka, Holcim (Lanka) won the prestigious Silver Award as the Turnaround Brand of Year at the country’s SLIM Brand Excellence Awards 2014 at BMICH. Philippe Richart, CEO, Holcim (Lanka) said, “Winning this award took a lot of hard work and dedication to tur...
Cemex: Colombia and Panama boost 3Q14 results
Cemex Latam Holdings SA (CLH) reported consolidated net sales of US$1.324bn during 9M14, reflecting a three per cent YoY rise. Net sales experienced a three per rise drop in 3Q14 when compared to 3Q13 as revenues from housing solutions projects were lower. After adjusting for this effect, consolidated net sales rose by five per cent during 9M14 and by six per cent in 3Q14, on a YoY basis. Ca...
Jamaica: Caribbean Cement to start 240,000t Venezuelan shipment
Caribbean Cement Company Ltd (CCCL) has commenced supply of a new 240,000t clinker order to Venezuela. The US$20.5m contract will run over an 18-month period and help boost export revenue from the Rockfort plant. The new order from Caracas extends a previous agreement that saw CCCL ship 100,000t of clinker between December 2013 and April 2014 in a US$8.5m deal. In 9M14, CCCL recorded clinker...
Siam Cement announces tech investment plan
Siam Cement Group (SCG) has announced it plans to spend THB200–250bn (US$6.1-7.7bn) for a new five-year investment budget for the 2015-2019 period although president and CEO, Kan Trakulhoon said the final sum was expected to surpass the current five-year budget. In the new budget period, the company intends to become a technology-driven firm and is eying investment in a European tech compan...
China: Anhui Conch boosts profits and Gansu Shangfeng Cement invests
Anhui Conch Cement reports that its net profit attributable to equity shareholders for the first nine months of 2014 rose 51.8 per cent YoY to CNY8173m (US$1.3bn). The company’s basic and diluted earnings per share were CNY1.54. The revenue was CNY43,675m, an increase of 18.01 per cent from a year earlier. For the third quarter of 2014, Anhui Conch's net profit rose 1.2 per cent YoY to CNY2352...
Aditya Birla Group bids for Lafarge, Holcim units
India's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippines, valued at US$1.4bn. The group had started operations in the Philippines several years ago and earmarked Brazil as a key place for expansion three years ago. "Aditya Birl...
Peru: Cementos Pacasmayo to rebound in 4Q14
Peru’s Cementos Pacasmayo is expected to see a two per cent YoY drop in output volumes in 3Q14, according to investment bank JP Morgan. However, the cement producer is forecast to rebound in the 4Q14 by two per cent and recorded gains of eight and nine per cent in 2015 and 2016, respectively. The bank also has good news for Cementos Pacasmayo’s EBITDA margin as it foresees a 0.6 percentage ...
Saudi Cement posts stable 3Q profit
Saudi Cement reported a modest rise in 3Q net profit from SAR229m (US$61m) to SAR232m in the year-ago period, according to a bourse filing. The company attributed the rise to improved efficiencies although quarterly cement sales fell due to declining domestic demand.
Lafarge Pakistan launches new precast cement
Lafarge Pakistan held a launch ceremony for its new specialised OPC, Stallion, an early-setting cement formulated to meet the needs of the precast industry. Marketing director, Rizwan Jamil, said, “Pakistan’s cement industry remains quite basic due to lack of initiatives by the players. Lafarge Pakistan is committed to lead the change by bringing new innovative value offerings tailored to ...
Trinidad Cement 9M14 revenues rises TTD97.2m
Trinidad Cement Ltd (TCL) has seen its revenues rise by TTD97.2m (US$15.4m) in the first nine months of 2014. Revenues increased to TTD1.587bn from TTD1.49bn when compared with the same period last year. Profit after taxes amounted to TTD63.7m compared with TTD78.9m in the prior-year period. The advance has been attributed to growth in the domestic cement markets of Trinidad and Jamaica while...
Thailand: Siam Cement suffers market dip
Thai domestic cement demand dipped around three per cent YoY in 3Q14, as no new infrastructure projects broke ground during 9M14, while many old projects were completed, claims the Nation paper. The weaker demand probably squeezed the ex-factory price by THB25-50/t QoQ to THB1925-1950/t (US$59.60/t to US$60.40/t) in 3Q14, which would be flat YoY. Sales of building materials in Thailand are...
UltraTech sees 47% rise in net profit
UltraTech Cement reported a 47 per cent YoY increase in its consolidated net profit to INR4.16bn (US$67.9m) for July-September, driven by a strong volume growth of 11 per cent and additional volumes from Jaypee’s cement units acquired last year. In July-September 2013, the company’s net profits reached INR2.83bn. Revenues for the period rose from INR48.49bn in 2013 to INR57.72bn in 2014. On...
TPI Polene to invest THB3bn to double WtE power plant capacity
TPI Polene, Thailand’s third-largest cement producer intends to spend THB3bn (US$93m) to double the capacity of its waste-to-energy (WtE) power plant in Saraburi to 120MW. Pakkapol Leoprirut, assistant vice-president for finance, said the company's waste-to-energy power plant had been producing 60 MW to serve the cement work. with all new output will also serve the same plant. The new works...