Cement News tagged: Corporate
Anjani Portland Cement reports net profit rise in FY19-20
India’s Anjani Portland Cement has reported a 14.7 per cent decline in total income to INR1.03bn (US$13.63m) for the final quarter of FY19-20, compared to INR1.21bn in the year-ago period. Net profit also fell 30.2 per cent YoY to INR80.4m from INR115.1m. In the full FY19-20, total income was down 5.9 per cent to INR4.13bn from INR4.39bn in the previous fiscal year. However, net profit surged...
Cemex cancels El Musel project due to COVID-19
Cemex is cancelling its terminal project that would see the company import 150,000tpa of cement via the Ingeniero Olano dock in El Musel, Gijón, Spain. In February 2019 Cemex applied for a concession at the Olano quay to unload cement to build two storage silos and a bagging plant, representing an investment of approximately EUR5m. Forecasts at the time expected 50,000t of cement to be import...
Innovandi launches online workshops
The Global Cement and Concrete Association’s research network, Innovandi has launched a week of online workshops to take place from 29 June to 03 July. The event is expected to see 40 international scientific institutions and 30 leading industry players from across the cement and concrete sector come together to set the key themes for future research projects to improve sustainability and d...
Bashundhara Industrial Complex secures land for bagging factory
Bangladesh’s Bashundhara Industrial Complex has signed an agreement for 16 acres of land, located 1km away from Mongla port and another 20km away from the site of a proposed airport in Bagerhat. The company intends to use the land for the construction of a factory that will produce cement bags for its two cement plants.
Titan issues notes for general purposes, including bank debt repayment
Titan Global Finance plc, a subsidiary of Titan Cement International SA, is inviting holders of its 3.500 per cent guaranteed notes due June 2021, originally issued in an aggregate principal amount of EUR300m and of which EUR287m remains outstanding, to tender any or all of their notes for purchase by the offeror of cash. The offeror will pay a cash purchase price equal to EUR1016 per EUR1000 ...
Tourah Portland Cement sees loss widen in 1Q20
Egypt’s Tourah Portland Cement has seen its net loss widen to EGP64.9m (US$4m) in the first quarter of 2020, compared to EGP50.9m in the 1Q19. The company also reported an 82.8 per cent YoY decline in sales to EGP50m from EGP290.8m.
National Cement Co reopens Souq Al-Khamis factory
Libya’s Economic and Social Development Fund has announced National Cement Co will be resuming production at its Souq Al-Khamis factory. The fund said security conditions in the region, which saw intensive fighting during the aggression on Tripoli, have improved since the cessation of military operations and the defeat of the Haftar militias in southern Tripoli. Therefore, the 1Mta plant wil...
Suez Cement sees 27% fall in revenue
Egypt’s Suez Cement has posted an EGP389.65m (US$24.07m) net loss in its consolidated results for the 1Q20, compared to an EGP213.07m profit in the first quarter of 2019. The company’s revenue also fell 26.5 per cent YoY to EGP1.33bn from EGP1.81bn. Suez Cement’s standalone results saw its net loss widen to EGP193.84m in the January-March 2020 period, against EGP95.16m in the 1Q19.
Holcim Philippines appoints new VPs
Holcim Philippines has appointed Edwin Villas as senior vice president logistics after Mr Villas served as officer-in-charge of the department since 2019 concurrent to his role as vice president for sales, Greater Manila Region and South Luzon. He previously held senior Sales leadership roles and served in Procurement and Internal Audit. Villas is a Certified Professional for Supply Management...
Star Cement sees 4% increase in sales
India’s Star Cement has reported a 3.5 per cent rise in net sales to INR5.57bn (US$73.58m) in the final quarter of the FY19-20, compared with INR5.38bn in the corresponding period of the previous fiscal. However, the company’s net profit declined 4.4 per cent YoY to INR858.3m from INR897.7m. In the full FY19-20, total income edged up two per cent YoY to INR18.73bn from INR18.37bn. Net profit ...
Isidoro Miranda elected new FLACEMA president
LafargeHolcim’s general director in Spain, Isidoro Miranda, will succeed Pedro Carranza as president of the Andalusian Labour Foundation for Cement and the Environment (FLACEMA), Spain. Mr Miranda was formerly president of the Spanish cement association, Oficemen, and is currently vice president of CEMBUREAU, the European cement association. He replaces Pedro Carranza, CEO of Cementos Portl...
Titan posts rise in 5M EBITDA
Titan Group reported a drop in consolidated revenue by 2.1 per cent to EUR641.8m in the January-May 2020 period, following a 6.1 per cent growth in the 1Q20 and a subsequent slowdown in April and May during the peak of the coronavirus pandemic. However, EBITDA rose by 5.5 per cent to EUR97.3m thanks to a reduction in costs, mainly due to lower fuel costs. Titan's net profit after taxes and min...
Burnpur Cement sees net loss widen in 4Q
India’s Burnpur Cement has seen its standalone net loss widen to INR1.25bn (US$16.53m) in the quarter ending 31 March 2020, compared to an INR31.2m net loss in the corresponding period last year. Net revenue was down 25.7 per cent to INR178.5m from INR240.2m in the 4QFY18-19. However, operating expenses also declined 25.7 per cent YoY to INR176.7m from INR237.8m.
India Cements doubles net profit in FY19-20
India Cements reported consolidated net profit of INR534.6m in FY19-20 when compared with INR252.6m in FY18-19. Total income rose from INR58.1bn in FY18-19 to INR52.231bn in FY19-20. India Cement's net loss in the 4QFY19-20 reached INR117.6m when compared with a profit of INR325.7m in the 4QFY18-19. The company incurred a one-time loss of INR1bn owing to coronavirus uncertainty in the quarte...
Oman Cement Co sees 27% fall in profit
Oman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sales saw a modest 1.5 per cent YoY decline to OMR13.6m from OMR13.4m.
Vicat sees improved activity in May
France-based cement producer Vicat has provided an update of business levels in May, noting a marked improvement when compared with market performance in March and April. In France business activity has been improving steadily since the low point of mid-March and by the end of May, the level was slightly lower than that recorded in the year-ago period. Switzerland also continues to perform w...