Cement News tagged: Corporate
Kunda Nordic Tsement to end clinker production
HeidelbergCement-owned Kunda Nordic Tsement, Estonia, is to close its kiln line in March following a decision by the company’s supervisory board. The closure has been attributed to the considerable increase in CO 2 prices, which has had a significant impact on financial results. "We have reached a crossroads in Kunda, where a new dry-processing plant is needed to reduce the cost of produc...
PPC sees volumes improve and price rises stick
Cement-maker PPC said lower levels of capital expenditure has helped offset lower earnings during the 11 months to end-February, with its southern African business starting to show signs of stabilisation even as it continues to face price pressures from increasing exports. The South African coastal business is experiencing a downturn in volumes affected by imports, while inland volumes are sh...
HeidelbergCement and Italcementi donate to northern Italy's fight against COVID-19
To alleviate the extremely tense situation of the local community and to support the fight against the coronavirus, HeidelbergCement and its Italian subsidiary Italcementi are each donating EUR100,000 to the Ospedale Papa Giovanni XXIII in Bergamo. Bergamo, where Italcementi is headquartered, is located in Lombardy in Northern Italy and is particularly hard hit by the current COVID-19 epidemic...
Chechencement to reach full capacity in 2020
Chechencement in Russia’s Republic of Chechnya increased its production capacity by 34 per cent to 0.64Mta in 2019. It is expected to nearly double its output in 2020 to reach 1.2Mta, driving a 2.2 per cent increase in the republic industrial output, according to its economics and development ministry as reported in Journal Cement. To date the company has invested RUB1.3m (US$17.343) in the m...
India Cements sees investors increase stake
The Damani family, one of India’s wealthiest, further increased their stake in India Cements from 11.98 per cent to 16 per cent through open market transactions on 16 March. This follows the family boosting their stake from 7.27 per cent to 11.98 per cent on 26 February 2020.
Belarusian Cement receives ASB loan
Belarus cement producer Belarusian Cement Co has received a BYN361,400 (US$153,607) loan from ASB Belarus. The loan will fund a new production line that is able to use refuse-derived fuel (RDF) as well as needed repairs at its Krasnoselstroymaterialy plant, reports Journal Cement. The cement works, which has a capacity of 1.6Mta, is currently carrying out repairs and a modernisation project t...
City Cement reports 61% rise in profit
Saudi Arabia’s City Cement has reported a 61 per cent YoY increase in net profit to SAR180.9m (US$48.2m) in 2019, rising from SAR112.3m in the previous year. The company’s total sales also advanced 54.1 per cent to SAR531.4m from SAR344.9m.
Bim Son Cement announces sales targets for 2020
Vietnam’s Bim Son Cement JSC has announced a sales target of 5.6Mt of cement and clinker in 2020, up 30.2 per cent compared to 4.3Mt in 2019. The company is also aiming to reach a pretax profit of VND265bn (US$11.42m) for the year, a rise of 35.6 per cent on VND195.5bn last year.
Cementarnica Usje sees profit up 22%
North Macedonia’s Cementarnica Usje (Titan Cement) has reported a 21.5 per cent YoY rise in profit to MKD1.27bn (US$23.15m) in 2019. Domestic sales advanced 8.2 per cent to MKD3.15bn, while international sales climbed 8.7 per cent to MKD1.64bn. Operating revenue increased by 9.5 per cent to MKD5.03bn.
CCI to meet cement demand for new hydropower project
India’s National Hydroelectric Power Corporation (NHPC) has signed a memorandum of understanding with the Cement Corporation of India (CCI) to meet the cement requirements for its 2880MW Dibang Multipurpose Project. The project, once installed, would be the country's largest dam. CCI has announced plans to install a clinker grinding unit near the project area, which would fulfil the cement ...
PIBTL likely to become hub of cement/coal handling
The Directors of Pakistan International Bulk Terminal Ltd (PIBT) has released the detailed financial statements for the period ended 31 December 2019. During the period, Pakistan's only coal and clinker/cement terminal at Port Muhammad Bin Qasim has handled 44.07Mt cargo against 39.66Mt in the same period last year. It depicts a modest growth of 11.1 per cent, with consistent performance. T...
Loma Negra sees net profit advance 35% in 2019
Argentina’s Loma Negra has reported a 5.5 per cent YoY decline in revenue to ARS38.95bn (US$660m) for the full-year 2019 period, compared with ARS41.24bn in the previous year. However, net profit surged 34.8 per cent YoY to ARS4.04bn from ARS3bn. Adjusted EBITDA also climbed 2.3 per cent YoY to reach ARS11.21bn. The company’s sales volumes of cement, masonry and lime fell 9.7 per cent overal...
Breedon records revenues of GBP929.6m in 2019
Breedon Group Plc has released its 2019 results that saw revenues reach GBP929.6m, up eight per cent on GBP862.7m in 2018. EBITDA totalled GBP116.6m, up 13 per cent on EBITDA of GBP103.5m in 2018. Net debt came in at GBP290.3m, down from GBP310.7m in 2018. Cement sales remained stable at 2Mt sold in 2019 when compared with the previous year, but 20.2Mt of aggregates were sold, up from 19.4Mt ...
Suez Cement looks to sell stake in Hilal Cement
Egypt’s Suez Cement has decided to place its 51 per cent stake in Kuwait-based Hilal Cement up for sale, according to a statement to the country’s stock exchange. Elsewhere, the company’s board has also approved a proposal to obtain a three-year US$125m loan from HeidelbergCement, its parent company. The funds are expected to be used to offset local overdue payments.
Lucky wins MAP corporate excellence award
Lucky Cement Lt has won the Management Association of Pakistan's Corporate Excellence Award in the cement sector category. Syed Noman Hasan, Executive Director of Lucky Cement Ltd received the award at the 35th MAP Annual Corporate Excellence Award Ceremony in Karachi on 9 March. Syed Noman Hasan, Executive Director, Lucky Cement Ltd, remarked, "We accept this award with great pride and are e...
TCK posts 15% decline in net profit for 2019
Bosnia’s Tvornica Cementa Kakanj (TCK) has posted a 14.9 per cent YoY decline in net profit to BAM14.3m (US$8.4m) in 2019, compared with BAM16.8m in the previous year. The company’s operating revenue increased 1.8 per cent to BAM73.4m, while operating costs advanced 3.8 per cent to BAM57.3m.