Cement News tagged: Corporate
Southern Province Cement Co sees net profit surge 137%
Saudi Arabia’s Southern Province Cement Co has seen its net profit for 2019 surge 137.4 per cent YoY to SAR463m (US$123.47m) from SAR195m. The considerable advance has been attributed to a 46.4 per cent increase in sales, amongst other factors. Company revenue also climbed 46.4 per cent to SAR1.3bn from SAR888m in 2018.
Taiwan's cement manufacturers record mixed results
Taiwan’s major cement manufacturers have reported mixed results in the first two months of 2020. Taiwan Cement Corp Taiwan Cement Corp has seen a 1.7 per cent decline in February revenue to TWD5bn (US$166.8m) from TWD5.09bn a year earlier. In the first two months of 2020, total revenue was down 13.7 per cent YoY to TWD12.5bn from TWD14.5bn. Asia Cement Corp Asia Cement Corp has also rec...
Suez Cement sees net loss narrow in 2019
Egypt’s Suez Cement has seen its consolidated net loss narrow to EGP1.18bn (US$75.23m) in 2019 from EGP1.32bn in the previous year. However, sales declined 13.1 per cent YoY to EGP6.46bn from EGP7.43bn. In its standalone results, the company recorded a net loss of EGP1.26bn against an EGP10.69m profit in 2018.
Cemex and Buzzi Unicem complete Kosmos Cement sale to Eagle Materials Inc
Cemex has divested its 75 per cent share in its partnership with Buzzi Unicem of Kosmos Cement in Louisville, Kentucky, USA, to Eagle Materials Inc. The divestment is for an aggregate amount of US$665m, of which Cemex will receive approximately US$499m. Meanwhile, Buzzi Unicem has sold its 25 per cent share in Kosmos Cement to Eagle Materials Inc. The deal includes the divestment of the Louis...
LafargeHolcim Bangladesh profits grow in 2019
LafargeHolcim Bangladesh has posted profit after tax of BDT1.737bn (US$16.24m) in 2019 as compared to BDT1.115bn in 2018. This represents a growth of 56 per cent in profit after tax YoY, says the cpmany. The company recorded a growth of seven per cent in sales during 2019, which rose to BDT17.840bn from BDT16.632bn during this period. The company also declared 10 per cent cash dividend for ...
Ecocem Group appoints new MD for Ireland
The Ecocem Group have made a strategic internal appointment of Susan McGarry as managing director of Ecocem Ireland. A chartered engineer Susan has worked for Ecocem for close to nine years in a variety of roles, the most recent of which was European sustainability manager. "Working across the Ecocem Group for 9 years has giving me the confidence and the ability to take on this challenge. Th...
Holcim El Salvador sets record production figures in 2019
Holcim El Salvador produced over 1.2Mt of cement and 710,000Mm 3 of concrete in 2019, representing record production figures, and plans to maintain this positive performance in 2020. The company also co-processed around 26,000t of waste in 2019, up from 20,000t in the previous year. Elsewhere, Holcim is also considering reopening its Maya cement plant, which was closed in 2008 due to low do...
Dyckerhoff Cement Ukraine sees 414% surge in profit
Dyckerhoff Cement Ukraine has reported a 414.2 per cent surge in profit to UAH814.27m (US$32.7m) for 2019, against UAH158.36m in the previous year, according to the Ukrainian News Agency. The company’s total assets as of the end of 2019 also increased by 8.7 per cent YoY to UAH2.65bn.
Sagar Cements records 8% YoY fall in production
India’s Sagar Cements has seen its standalone cement production fall 7.9 per cent to 207,860t in February 2020, compared to 225,751t in the year-ago period. Consolidated cement production was also down 3.6 per cent YoY to 287,833t from 298,540t. The company's standalone cement sales for the month declined 2.6 per cent YoY to 212,002t from 217,540t in February 2019. However, consolidated cem...
MGI Group of Bangladesh sets up nine industrial units, including cement
Meghna Group of Industries (MGI), a leading Bangladeshi business group inaugurated last week nine newly-built industrial units, including cement plants, at its economic zone in the Narayanganj district, Dhaka of Bangladesh. A group announcement said, "We are much obliged to the distinguished guests, patrons and well-wishers for their unconditional support to our cause." The Finance Minister o...
Lafarge Cement appoints new Cauldon Works manager
Lafarge Cement UK (Aggregate Industries - LafargeHolcim group) has appointed Stuart Hutching as the new manager of its Cauldon cement plant in Staffordshire, UK. With more than 20 years of experience within the cement industry, Mr Hutchings will be responsible for the plant, which produces approximately 1Mta of cement and employs around 150 staff. Mr Hutchings said: "Cauldon is a world-class...
Caribbean Cement Co inaugurates new packing equipment
Jamaica's Caribbean Cement Co has inaugurated a new palletising machine at its Rockfort plant to reduce manual packing. The FLSmidth Ventomatic Polimat palletiser is one of two new packing machines acquired by the company and while one machine is already up and running, the commissioning of the second is already underway. "Our production capacity, as of today, with only this new palletiser,...
Good indicators for cement industry in Pakistan
The Pakistan government's intentions to lower the mark-up rates, encouraging cement dispatch data, a decrease in inflation figures and significant growing provincial export data have altogether renewed the investors' confidence in cement sector scripts at Pakistan Stock Exchange (PSX). Presently, Pakistan's central bank SBP Policy Rate is 13.25 per cent per annum, making borrowing too expen...
Yanbu Cement reports 183% rise in net profit for 2019
Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.
GICA subsidiary prepares export plan
The Public Industrial Group of Algerian Cement (GICA) has announced that its Beni Saf subsidiary plans to export over 45,000t of clinker to African countries during the current year. Orders are reportedly under study for exports from the port of Ghazaouet, Algeria, to several countries, including Ghana, Guinea and Mauritania, according to Dakmous Fatima-Zohra, communications and marketing of...
JSW Cement launches Jajpur grinding plant
JSW Cement has announced that it has recently inaugurated the 1.2Mta Jajpur cement plant in Odisha, India. The launch was graced by the honourable Ratan Jindal, Parth Jindal and Abhyuday Jindal. With this expansion JSW Cement's cement capacity has expanded to 14Mta.