Cement News tagged: Corporate
Mancherial Cement Company faces possible closure
Mancherial Cement Company (MCC), formerly known as Associated Cement Companies (ACC), one of the oldest cement manufacturers in south India, is on the verge of closure, reports Telangana Today. Owing to its weak economic condition, the existing management of the plant is struggling to pay power bills and to clear loans availed from various banks. The plant was built in 1958 with German techn...
Saudi Cement Co records 13% increase in net profit
Saudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn.
Lafarge Zimbabwe appoints new Chief Executive
Lafarge Zimbabwe (LafargeHolcim group) has appointed Precious Murena-Nyika as its new chief executive. Siame Kaulule, who previously held the position, left in January 2020 to take up a new position for the company in South Africa. "Precious Murena-Nyika was yesterday confirmed as the new Lafarge Zimbabwe CE. The announcement was done by Lafarge East and Southern Africa area manager Pierre De...
CRH EBITDA up 25% in 2019
CRH plc posted a six per cent advance, or three per cent like-for-like (LfL), in sales to EUR28.3bn in 2019 when compared with 2018. The company’s EBITDA increased 25 per cent (+3 per cent LfL) YoY to EUR4.2bn while it saw an EBITDA margin increase of 230 basis points. “CRH delivered good profit growth in 2019 supported by positive momentum in our heritage businesses and strong contributions ...
Shree Cement operates largest kiln in the world
Shree Cement has increased kiln capacity to 14,500tpd following improvements at its Ras Al Khaimah plant in the UAE, making it the world’s largest operational kiln. The kiln surpasses the previous record-holder, ACC’s Wadi II plant in Karnataka, India, by 2000tpd. Shree Cement’s current installed capacity is 41.9Mta. In 2018 the company acquired Union Cement with its Ras Al Khaimah plant. Th...
Sephaku Cement sees profits fall on construction activity decline
Sephaku Cement (Dangote group) says it expects the next 12-18 months to be tough on the building sector. Declining numbers of new construction sites are impacting on business. The market is expected to remain subdued, Sephaku Cement said, as reflected by the 12.7 per cent decline in building plans passed for 2019, according to Stats SA data. Sephaku Cement reported profit after tax slumped...
Holcim Philippines posts 41% net income advance in 2019
Holcim Philippines achieved a revenue of PHP33.5bn (US$660.4m) in 2019 despite a slow first half in terms of construction activity. However, the company’s operating EBITDA increased 36.7 per cent YoY to PHP6.7bn in 2019 from PHP4.9bn in 2018 as the company benefitted from initiatives to raise efficiencies and improve costs across the board. The rise was further supported by a more favourable...
Royal Cement Benelux to distribute cement from Schiedam port
Royal Cement Benelux, part of Royal El Minya Cement and the Sesco Group, one of the largest providers of white cement in the world, announced that it has acquired a new 18,500m 2 facility in the port of Schiedam in The Netherlands. The port of Schiedam is part of the Port of Rotterdam. The new facility, which includes 13,500m 2 combined office, storage and operating space, will be the compa...
Pioneer Cement appoints new CEO, posted loss during 1HY19
Pioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company lo...
Dangote Cement plans 1Mta grinding unit in Gabon
Dangote Cement will construct a new 3000tpd clinker grinding plant in Gabon, representing an investment of US$75m, according to Dangote Group President, Alhaji Aliko Dangote. The new 1Mta cement plant will be built on a plot of over 10.5ha in the Owendo area, adjacent to the New Owendo International Port, just outside the country’s capital, Libreville. The plant is expected to help expand ...
Pioneer Cement signs limestone development agreement in Georgia
Raysut Cement's UAE subsidiary, Pioneer Cement, has signed an agreement for the development of a limestone mine in Georgia. Under the 10-year deal SFL International will pay a royalty to Pioneer Cement for mining the limestone deposits. Pioneer Cement owns the concession to limestone mines in Georgia where it is currently set to construct a 1.2Mta cement plant. The plant will be located near...
Dangote Cameroon sees 7% sales drop in 2019
Sales volumes of Dangote Cameroon fell 6.5 per cent YoY to 1.1Mt in 2019. Cement prices averaged at US$108/t in the financial year. "We had to deal with a drop in volumes due to security problems in the North West and South West region of the country as well as new competitor capacities. Overall, volumes were down 6.5 per cent in 2019 from 2018 due to increased competition in key markets, "s...
Ciments du Maroc turnover falls in 2019
The unaudited consolidated turnover of Ciments du Maroc slipped by 0.8 per cent YoY to MAD3.89bn (US$405.8m) in 2019 despite an improvement in the cement market. The fall was due to a decline in concrete sales, which offset the positive development of cement sales, said the company.
Tabuk Cement posts SAR24.2m profit in 2019
Saudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices.
Flying Cement and Dandot Cement post losses during 1HY19
Pakistani cement companies have been declaring losses or fall in profit during the last six months of ongoing fiscal year of 2019-20 on account of falling revenue, high cost of sales and financing charges. Flying Cement Co reported a loss after taxation of PKR293.4m (US$1.9m) during the half-year ended 31 December 2019 compared to profit of PKR77.7m earned in corresponding period last year. ...
Misr Cement-Qena reports 84% profit drop in 2019
Egypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statement to the Egyptian Exchange. Sales fell to EGP3.1226bn in 2019, down from EGP3.1229bn the previous year. Stand-alone net profits more than halved from EGP76.54m in 2018 to EGP35.24m in 2019.