Cement News tagged: Corporate
Pooling of resources between Fauji Cement and Askari Cement
Fauji Cement Company Ltd has informed Pakistan Stock Exchange (PSX) that its 11th Extraordinary General Meeting (EGM) was held on 10 January 2020 and two important resolutions were adopted by the shareholders for sharing resources amongst two cement units. The first resolution for approval and authorisation was the resource sharing arrangement to be entered into with Askari Cement Ltd (ACL)....
Steppe Cement posts 8% revenue rise in 2019
Kazakhstan-based Steppe Cement has posted revenues of KZT30.534bn (US$81m) for the year ended 31 December 2019. This represents a rise of eight per cent when compared with 2018. The company sold 1,715,761t of cement in 2019, marginally lower than the previous year. Steppe Cement is the country's fourth-largest cement producer with a total cement capacity of 1.9Mta. It operates two plants ...
FLSmidth appoints new Mining Industry President
Mikko Keto will join FLSmidth as President, Mining Industry and member of Group Executive Management. The appointment comes following Manfred Schaffer’s decision to retire in 2020. Mikko Keto joins FLSmidth from Metso, where he has worked for 10 years of which the last two years as President, Minerals Services and Pumps. He also served as a member of the company's Executive Team. FLSmidth ...
BUA Cement formally lists on Nigerian Stock Exchange
Nigeria’s BUA Cement has been formally listed on the country’s stock exchange with a market capitalisation of over NGN1.2trn (US$3.32bn). The listing brings a conclusion to the merger process between the BUA-owned entities, Cement Company of Northern Nigeria (CCNN) and Obu Cement Co. The listing has seen BUA Cement become the third-most capitalised stock on the Nigerian Stock Exchange. "We ...
Universal Cement Corp records 5% revenue increase for 2019
Taiwan’s Universal Cement Corp has seen its full-year 2019 revenue increase 4.7 per cent YoY to TWD5bn (US$166.91m), compared with TWD4.78bn in 2018. The result comes despite recording a 1.7 per cent YoY fall in revenue for the final month of the year, which decreased to TWD457.6m from TWD465.5m.
Hsing Ta Cement sees 17% revenue increase in 2019
Taiwan’s Hsing Ta Cement has seen its full-year revenue surge 16.7 per cent YoY in 2019, increasing to TWD7.82bn (US$260.8m) from TWD6.7bn in the year-ago period. However, in the month of December 2019 the company saw a slight 2.3 per cent YoY decline in revenue to TWD691.6m.
Serge Gbotta new CEO LafargeHolcim Côte d’Ivoire
LafargeHolcim Côte d’Ivoire has appointed Serge Gbotta as its new CEO, effective from 1 January 2020. He succeeds Xaivier Saint-Martin-Tillet, who will head up the west Africa group region. Formerly commercial and logistics director at the company, Mr Gbotta is a civil engineer with an MBA degree. "I am delighted with the opportunity given to me to manage LafargeHolcim Côte d'Ivoire and t...
Saudi Arabia records 22% production increase in December
Saudi Arabian cement sales rose 24.2 per cent YoY in terms of volume in December 2019, while total production increased 21.7 per cent to 4.7Mt from 3.86Mt, according to Mubasher. Cement inventories in the country declined 0.6 per cent YoY to 1.18Mt in the last month of 2019. Southern Province Cement Co recorded the highest volume of sales during the month, totalling around 708,000t, followe...
Cimtogo signs US$30m contract with Ayoki
Togo-based cement producer Cimtogo has signed a US$30m contract with Ayoki to extend its cement capacity by 1Mta to 2Mta, reports ActuDaily. The project is expected to generate 200-300 jobs. "With this investment, the HeidelbergCement Group believes in the prospects of the Togolese economy and continues to contribute to its development with the transformation of national resources, as part o...
Cemex set to divest certain UK assets to Breedon Group
UK-based Breedon Group has announced that it has entered into a conditional agreement with Cemex to acquire certain assets and operations in the UK for a total consideration of GBP178m, on a cash and debt free basis. The assets encompass approximately 100 active operations, including 49 ready-mix plants, 28 aggregate quarries, 4 depots, 1 cement terminal, 14 asphalt plants and 4 concrete pro...
Sagar Cements sees production fall 3% in December
India’s Sagar Cements has reported a 3.3 per cent YoY fall in cement production to 219,776t for December 2019, compared to 227,247t of the year-ago period. Consolidated cement production and purchase for the month stood at 300,138t, down by 7.6 per cent compared to 324,685t in December 2018. However, the company’s standalone cement sales for December 2019 rose 2.3 per cent YoY to 232,556t f...
NCL Industries reports 23% production decline
India’s NCL Industries has reported a 23 per cent fall in cement production to 423,000t in the 3QFY19-20, compared with 552,000t in the year-ago period. Cement dispatches decreased 22 per cent YoY to 430,000t from 552,000t. The company's production of cement boards rose eight per cent to 19,091t for the quarter ending December 2019, while cement board dispatches slipped 10 per cent to 14,96...
Shahrood Cement exports more than 245,000t since March 2019
Shahrood Cement Co, based in Iran’s Semnan province, has exported more than 245,000t of cement since the start of the current Iranian year (from 21 March 2019), said Behrouz Asvadi, chairman of the province’s Industry, Mine and Trade Organisation. Mr Asvadi noted the company earned US$5.06m from its export activities, adding that the company directly exports its products. The company’s plan...
HeidelbergCement Bangladesh calls EGM to approve amalgamation
HeidelbergCement Bangladesh Ltd has further updated all concerned stakeholders and investors about its ongoing scheme of amalgamation though the Dhaka Stock Exchange (DSE). In a stock filing, the company says that furtther to their earlier news disseminated by the DSE on 26 December 2019 regarding seeking court approval for amalgamation with Meghna Energy Ltd, the Board of Directors has dec...
McInnis Cement appoints new CEO and COO
Canada’s McInnis Cement has announced the appointment of Baudouin Nizet as president and CEO, effective immediately. Mr Nizet succeeds Jean Moreau, who has served as interim president and CEO since August 2018. "The McInnis Cement Board of Directors is convinced that Mr Nizet will be able to lead McInnis through its next growth stages, while enhancing our corporate vision of producing quality...
Fauji Cement Co announces Board of Directors members
Fauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Maj Gen Tahir Ashraf Khan, HI(M), (Retd), non-executive director, has resigned from the Board of Directors FCCL with effect from 1 January 2020. He is succeeded by Maj Gen Abid Rafique, HI(M), (Retd) who has joined the board with effect from 1 January 2020. Furthermore, with effect from 1 January 2020, Fauji's ...