Cement News tagged: Corporate
Misr Beni Suef revenues boosted by higher prices
Misr Beni Suef Cement (MBSC) saw a 20 per cent rise in revenues in 2013 to EGP1.32bn (US$189.6m) as higher cement prices compensated for lower volumes. Total sales volumes dropped seven per cent YoY, implying a utilisation rate of 89 per cent compared to 96 per cent in 2012. Domestic shipments accounted for 75 per cent sent of the company’s sales while the remainder was exported. Meanwh...
HeidelbergCement Supervisory Board extends Dr Scheifele and Dr Nägar agreements, Germany
The Supervisory Board of HeidelbergCement has decided to extend the Managing Board agreements of Dr Bernd Scheifele, chairman of the Managing Board, and Dr Lorenz Nägar, chief financial officer, by a further five years. The new term of agreement for Dr Scheifele runs until the end of January 2020 while Dr Näger’s has been extended to the end of September 2019. Fritz-Jürgen Heckmann, chairman...
Fujian full-year net profit declines
Fujian Cement earned a net profit of CNY19.05m (US$3.074m) in 2013, a YoY decline of 30.38 per cent. Operating revenue rose by 12.4 per cent YoY to CNY1.82bn. The company attributed the downward trend in net profit to plant closures while it carried out technology upgrade projects, as well as a decrease in cement prices.
UBS raises China Resources target price, maintains ‘buy’ rating
UBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating...
Carthage Cement appoints new Board member, Tunisia
During Carthage Cement’s Annual General Meeting of Thursday, 13 March, Kais Jamaia was appointed as a new Board member, representing the Tunisian government. Mr Jamaia was previously a member of the General Audit Office. Since entering production last November, Carthage Cement has produced 66,599t of cement. "The rate of production is maintained between 7000tpd and 7500tpd of clinker," Riadh...
Lafarge Moldova appoints new director
Nicolas Valdinoci has been announced as the new director of Lafarge Moldova, replacing Louis de Sambucy who is moving to Lafarge Algeria. Mr Valdinoci has been at Lafarge since 2007. For three years he worked in the company’s department of strategy and in 2010 he became the financial director of the concrete and aggregates division of Lafarge Algeria. In 2012, he was appointed the deputy dire...
Algeria: Lafarge joint venture awarded project permits
CILAS Biskra, the cement joint venture between Lafarge (49 per cent stake) and Algerian businessman Souakri, is one step closer to the construction of its new plant. The project received all necessary approvals, said Luc Callebat, CEO of Lafarge Algeria. The works is expected to produce 2.7Mta when it comes on-stream in mid-2015. However, the completion of a second production line will see ...
Gansu Qilianshan full-year profit surges
Gansu Qilianshan Cement Group Co Ltd earned a net profit of CNY465m (US$75.8m) in 2013, a YoY surge of 167.77 per cent, the company announced in a statement. Meanwhile, operating revenue grew 36.83 per cent YoY to CNY5.81bn.
Xuan Thanh gets nod to expand capacity, Vietnam
Vietnam Prime Minister Nguyen Tan Dung has approved a proposal from the Ministry of Construction to expand capacity of the Xuan Thanh cement plant in the northern province of Ha Nam to 4.5Mta from the current 2.3Mta. The PM asked the ministry to review the planning of the cement industry and remove low-capacity cement projects from planning and report to the government in June. The govern...
Xinjiang Tianshan net profit declines
Xinjiang Tianshan Cement Co Ltd reported a net profit of CNY280m (US$45.62m) in 2013, a YoY fall of 12.08 per cent, the company announced on 12 March. Meanwhile, operating revenue grew 2.75 per cent YoY to CNY7.91bn.
Lafarge reportedly attracting bids for Pakistan unit
Lafarge is reportedly attracting bids for its Pakistan unit, with the country's leading producer, Lucky Cement, said to be among companies competing for the assets. Potential acquirers have submitted bids to Lafarge, according to reports by Bloomberg who cited a source familiar with the matter. Lafarge Pakistan Cement operates a 2.05Mta plant in the Punjab province.
Vicat: full-year turnover eases
Turnover at Vicat eased by 0.3 per cent in 2013 to EUR2286m and EBITDA came off by 2.4 per cent to EUR427m, while at unchanged parameters they would have risen by 2.9 per cent and 0.3 per cent respectively. The trading profit emerged 3.7 per cent lower at EUR234m. The net financial charge rose by 31.2 per cent as the debt of the Indian subsidiaries Vicat Sagar and Gulbarga Power was no long...
Jaypee reportedly in talks to sell Panipat grinding unit
Holcim, via its ACC arm, is in preliminary acquire the Jaypee Group’s grinding unit in Panipat, Haryana state, two sources familiar with the situation told the Economic Times of India. The move would expand Holcim’s presence in the north of the country. ACC has a cement plant in nearby Himachal Pradesh, and if JP’s grinding unit is absorbed it would be “beneficial logistically and even in ter...
China Resources net profit increases 43.6% in 2013
China Resources Cement Holdings Ltd earned a net profit of CNY3.34bn (US$544m) in 2013, a YoY increase of 43.6 per cent, the company announced on Friday. Meanwhile, operating revenue grew 15.8 per cent YoY to CNY29.34bn. The Hong Kong-based cement producer attributes the upward trend in performance to decreasing manufacturing costs and coal prices.
Chettinad Cement in acquisition talks - report
Chettinad Cement is to acquire Anjani Portland Cement, according to local press reports. Citing sources familiar with the situation, Business Line India reported that the deal is expected to be formalised soon. The acquisition would give Chettinad Cement a company a significant presence in the Andhra Pradesh market. Anjani Cements has over 1.2Mta capacity in its two plants in Nalgonda distr...
Hilal net profit edges ahead, Kuwait
Kuwaiti cement producer Hilal Cement net profit reached KWD518,500 (US$1.8m) for 2013, up 3.6 per cent from KWD500,500 a year earlier, the company said in a bourse filing. The total assets stood at KWD22m at end-December 2013, compared with KWD21.9m a year earlier. Hilal's management board has proposed a seven per cent cash dividend for 2013, equal to 7 fils per share.