Cement News tagged: Corporate
Semapa sees 182% rise in 4Q20 net profit
Portugal-based Semapa recorded a net profit of EUR106.6m in 2020, a 14.1 per cent YoY decrease from EUR124.1m a year earlier. In the 4Q20, net income surged 182.3 per cent YoY to EUR33.8m. Consolidated turnover was down 16.2 per cent YoY to EUR1867m in 2020, of which EUR451m came from its cement segment. EBITDA reached EUR419.3m, falling 13.9 per cent from EUR486.8m in 2019, despite the gr...
Eagle Materials sees 18% rise in 3Q revenues
US-based Eagle Materials Inc has reported revenues of US$404.7m in the third quarter of 2020, representing a YoY increase of 18 per cent. Commenting on the third quarter results, Michael Haack, Eagle Materials president and CEO, said, “Our third quarter results demonstrate the overall resilience of our portfolio. Despite continued pandemic-related economic uncertainty, our wallboard shipment...
Lucky Cement announces 3.15Mta Pezu expansion
Pakistan’s Lucky Cement Ltd has announced a further expansion to its Pezu plant on the back of positive results from the domestic cement sector. "Keeping pace with the increasing demand in the domestic cement industry, on the back of revival of economic activity and uptick in construction projects including both retail level projects as well as mega infrastructure development projects the co...
LafargeHolcim makes two bolt-on aggregate acquisitions
LafargeHolcim announces the acquisition of Edile Commerciale and the signing of Cemex Rhone Alpes, both suppliers of ready-mix concrete and aggregates, located in Milan, Italy, and Lyon, France. With 35 ready-mix concrete plants, these operations strengthen LafargeHolcim’s position in areas with strong demographic trends and key infrastructure projects. These two bolt-on acquisitions ...
Shree Cement reports 102% rise in net profit
India’s Shree Cement has reported a 102 per cent YoY rise in net profit to INR6.26bn (US$85.76m) for the December quarter, compared to INR3.12bn in the year-ago period. Revenue also advanced 16.2 per cent YoY to INR33.09bn. The company’s expenses remained largely in line with the previous year at INR27.97bn from INR28.02bn. Shree Cement also reappointed Hari Mohan Bangur as managing direct...
Société Ciment Côte d’Ivoire’s new plant inaugurated
Côte d’Ivoire’s Minister of Trade and Industry, Souleymane Diarrassouba, inaugurated the new cement plant of Société Ciment Côte d’Ivoire (SCCI) in the PK24 Industrial zone of Akoupé-Zeudji. SCCI commissioned a 1.5Mta cement plant, which represents an investment of XOF60bn (US$110.55m). The new production unit is expected to create 300 direct jobs and 1069 indirect jobs. SCCI is a subsi...
JK Lakshmi Cement's sales rise 19% in Oct-Dec 2020
JK Lakshmi Cement Ltd recorded sales of INR11,928m (US$163.27m) in October to December 2020 compared to INR10,049.5m in October to December 2018, a rise of 19 per cent. JK Lakshmi Cement’s efforts to raise the product mix and improve efficiency parameters combined with increased demand boosted company profitability. EBITDA rose to INR2124.6m in October to December 2020 from INR1665.9m ...
Siam Cement sees net profit rise 7% in 2020
Thailand’s Siam Cement has reported a nine per cent decline in revenue from sales to THB399.94bn (US$13.3bn) for 2020, compared to THB437.98bn in the previous year. However, its net profit rose seven per cent YoY to THB34.41bn from THB32.01bn, on the back of an improved performance in all of its businesses. The company expects its total earnings in 2021 to grow by 5-10 per cent from the TH...
Dewan Cement appoints new CEO
Pakistan’s Dewan Cement has announced the appointment of a new Chief Executive Officer and Director, with effect from 27 January. Malik Bilal Omar has been appointed in the role after the departure of Syed Muhammad Anwar.
Prism Johnson to raise cement capacity
Prism Johnson Ltd has approved of a 0.9Mta cement capcity expansion at Prism Cement's Satna cement plant, Madhya Pradesh, India. The new capacity will take the plants total cement capcity up to 5.4Mta. The investment is estimated to cost INR1390m (US$19.02m).
India Cements returns to profit in 3Q
India Cements has reported an INR693m (US$9.48m) net profit for the October-December 2020 period, compared to an INR94.3m net loss in the year-ago quarter. Revenue fell 4.8 per cent YoY to INR11.84bn from INR12.44bn. The top line of the company was largely impacted by the delayed effects of COVID-19, with most of the incremental demand for cement coming from the east, central and northern re...
Qatar National Cement Co sees net profit down 14%
Qatar National Cement Co has seen a 6.2 per cent YoY fall in sales to QAR659.62m (US$181.2m) in 2020, against QAR703.03m in the previous year. Net profit also declined 13.8 per cent YoY to QAR148.46m from QAR172.16m in 2019.
Shree Digvijay Cement sees 17% rise in revenue
India’s Shree Digvijay Cement has announced a 17.2 per cent YoY increase in standalone revenue to INR1.43bn (US$19.69m) for the December 2020 quarter, compared to INR1.22bn in the year-ago period. The company also reported a 48.5 per cent YoY rise in standalone profit to INR140.2m from INR94.4m.
GCM to build 0.64Mta plant in Burkina Faso
General Community Management (GCM) Industries has started the construction of a 0.64Mta cement plant on a 7ha plot in the industrial zone of Kossodo, Burkina Faso. The first stone was laid in a ceremony led by the country’s Minister of Commerce and Industry, Harouna Kaboré, on 26 January 2021, according to Radiodiffusion Télévision du Burkina. The project, which has the option to expand capa...
Ha Tien Cement sees 29% decline in net profit
Vietnam’s Ha Tien Cement has reported a 28.6 per cent YoY fall in net profit to VND153.97bn (US$6.64m) in the final quarter of 2020. Net revenue also declined 3.2 per cent to VND2.21trn. The company saw a consolidated net profit of VND615.49bn on a net revenue of VND7.96trn in 2020, down 16.9 per cent and 9.9 per cent YoY, respectively.
Flexco and MLT Minet Lacing Technology form strategic partnership in North America
Flexco and MLT Minet Lacing Technology have signed an agreement in which Flexco will be the exclusive source for MLT products in the USA, Canada and Mexico. As part of the agreement, MLT will continue to manufacture the products for North America as Flexco integrates MLT North American business into its organisation. MLT will continue to manufacture and distribute its products through it...