Cement News tagged: Corporate
Semen Indonesia Group sees 29% rise in 2019 sales
The total sales volumes of the Semen Indonesia Group, including Thang Long Cement Co (TLCC) and former Holcim subsidiary, PT Solusi Bangun Indonesia (SBI), increased 36 per cent in December 2019 to 3.93Mt from 2.891Mt (before the group’s acquisition of SBI and therefore, not included in the group’s consolidated numbers), according to a company statement. Semen Indonesia saw sales edge up 4.4...
Nuvoco Vistas is expected to acquire Emami Group
Nuvoco Vistas, the cement division of Nuvoco Group, is pole position to capture Emami Group, according to the Economic Times. The bid from Nurvoco is expected to beat the bids of UltraTech Cement and Star Cement to gain control of Emami Group's 9Mta of cement production in India. Nuvoco currently operates 11Mta of cement capacity, having acquired LafargeHolcim's India assets in July 2016. B...
Fancesa to fall short of sales target
Bolivia-based Fábrica Nacional de Cementos SA (Fancesa) will miss its sales and profits targets for the current financial year. The shortfall has been attributed to civic unrest and blockades following the elections that were cancelled due to fraud. “During the 2019 financial year, which closes on 31 March 2020, production was projected at 1,030,000t and the stop will obviously affect prod...
Cementos Progreso acquires Cemento Interoceánico
Guatemala’s Cementos Progreso has acquired a 100 per cent stake in Cemento Interoceanico SA, a Panama-based producer. Fabrega, Molino & Mulino acted as a legal adviser to Cementos Progreso, while Morgan & Morgan represented Cemento Interoceanico, according to Market Line.
Cemenco completes plant upgrades worth US$14m
Liberia's Cemenco (HeidelbergCement) has commissioned new upgrades worth US$14m at its grinding plant in Monrovia. Following the works, the company’s roller press can now produce 700,000tpa, representing a 30 per cent increase. A new silo with a capacity of 2000t and a bulk cement loading point has also been put into operation. Other additions include a shrink-wrap palletiser, a second baggin...
Refratechnik Group acquires QMAG
The Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade ...
Mangalam Cement commissions WHR unit
India's Mangalam Cement has commissioned new waste heat recovery capacity at its plant in Morak, Rajasthan. The company has initially put 5.15MW into operation. A further 5.85MW is expected to be commissioned during the current quarter (4QFY19-20).
Pioneer Cement's new kiln line starts production
Pioneer Cement Ltd (PIOC) has informed Pakistan Stock Exchange (PSX) that the company successfully ignited its new 10,000tpd kiln line. Company Secretary, Abdul Wahab, said cement production and dispatch from the new line is expected to start soon. The 2.2Mta brownfield expansion is part of the company's Vision 2025 programme, which includes a 24MW coal-fired power plant and 12MW waste hea...
Oman Cement sees net profit decline 45% in 2019
Oman Cement has recorded a 45.3 per cent fall in its net profit to OMR4m (US$10.4m) for 2019, compared to OMR7.3m in the previous year. Total revenue also declined four per cent YoY to OMR50.12m from OMR52.19m.
Raysut Cement records surge in profit for 2019
Oman’s Raysut Cement Co has seen a 1156.9 per cent surge in profit to OMR4.3m (US$11.2m) in its unaudited results for 2019, compared to OMR343,652 in the previous year. However, total revenue has decreased 7.6 per cent YoY to OMR85.68m from OMR92.76m in 2018.
Gansu Qilianshan Cement expects 85% rise in profit
China’s Gansu Qilianshan Cement expects to realise a net profit of around CNY1.21bn (US$174m) in 2019, an increase of approximately 85 per cent compared to CNY654.8m last year. The company has attributed the results to an increase in product sales and improved cost control after upgrading the efficiency of its production and operations.
Zeal Pak Cement of Pakistan struggles to survive
Pakistan oldest cement factory, Zeal Pak Cement Ltd, has informed Pakistan Stock Exchange (PSX) last week about management efforts to make it a viable plant. To date it has been running losses due to number of factors, including the old technology. According to Masood ul Hassan, group general manager of the company, said the management is running the factory at a continuous loss and only for ...
West China Cement has new CFO
Chu Yufeng has been appointed chief financial officer of West China Cement. The company stated that his predecessor Chan King Sau ceased to be CFO, according to Reuters.
Saudi Cement invest SAR23m in Bahrain's United Cement
Saudi Arabian Cement has bought a stake in United Cement Co BSC of Bahrain from Esterad Investment Co for SAR23m (US$6.13m). The sale is for a 36 per cent stake in United Cement, which is located in Adliya. United Cement operates a a bulk fleet of transport ships with a capacity of 3000t each and can supply more than 80,000tpm of cement to Bahrain from the GCC region. The company trades OPC, ...
Eagle Materials' acquisition of Kosmos receives approval
The US-based Federal Trade Commission (FTC) has cleared Eagle Materials Inc’s agreement to acquire certain assets from Kosmos Cement Company, Kentucky, a joint venture between Cemex and Buzzi Unicem. The anti-trust approval was received on 9 January. The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves....
PT Semen Indonesia to concentrate on strengthening regional market position
Hendi Prio Santoso, managing director of PT Semen Indonesia Tbk (SMGR), has stated that the company will focus on developing derivative products and expanding into regional markets. "As an integrated provider of building material solutions, the affirmation of the company's focus is very important to maintain a sustainable growth trend in the future," said Mr Santoso. He was very grateful for...