Cement News tagged: Corporate
Chia Hsin Cement Corp posts 21% fall in revenues in May
Chia Hsin Cement Corp reported a 21.2 per cent decrease in revenues to TWD146.5m (US$4.67m) in May when compared with May 2018, when revenues reached TWD185.9m was posted. For the first five months of 2019, revenues declined by 8.2 per cent to TWD760m from TWD828m in the 5M18.
Vassiliko Cement reports rise in domestic sales for 2018
Cyprus-based Vassiliko Cement has reported a 17 per cent rise in cement sales to the domestic market in 2018. However, total income fell 4.4 per cent YoY to EUR97.9m from EUR102.4m. The company has attributed the result to a decline in cement exports, alongside a rise in the cost of energy and CO 2 emission allowances. Cyprus’ construction industry contracted between 2008-15. However, the l...
Pakistan cement industry's eyes on FY19-20 budget
Pakistan's federal budget for FY19-20 is scheduled to be announced today. Advisor to Prime Minister for Finance, Revenue & Economic Affairs, Dr Abdul Hafeez Shaikh will present it in Parliament followed by debate/approval by legislators in due course of time. Experts believe it would be negative for cement industry, if no incentives are simultaneously announced. AHCML Research House expects ...
Attock Cement continues to dominate Karachi market in 9MFY19
Attock Cement Pakistan Ltd (ACPL) maintained its dominant position during 9MFY19 in the core market of Karachi, leading in volumes and cement price. As part of the company's strategy, it also maintained a presence in the entire southern zone and in the lower Punjab market. As a result, the company's local dispatches increased by 117.861t, or nine per cent, over the 9MFY19 period. On the b...
San Miguel Corp and Holcim Philippines face opposition to merger deal
President Rodrigo Duterte of the Philippines has been asked by the construction industry and property developers to call a halt to the proposed US$2.15bn merger between San Miguel Corp (SMC) and Holcim Philippines Inc (LafargeHolcim group) to prevent the emergence of a cartel. End users of cement are opposed to the prospect of more control of the cement sector going to one company. Speaking ...
Taiwanese producers report positive May results
Taiwan’s Hsing Ta Cement has reported a 30 per cent YoY increase in revenue for May 2019, rising to TWD800.42m (US$25.4m) from TWD625.56m. In the first five months of the year, the company saw revenue advance 30.6 per cent to TWD2.91bn from TWD2.23bn. Meanwhile, Lucky Cement announced that its revenue was up 3.6 per cent to TWD305.28m in May, compared with TWD294.58m in the year-ago period. ...
Rhiddhisiddhi Cement Industry commences production
Cement production at the plant of Nepal-based Rhiddhisiddhi Cement Industry has started. During the start-up phase, the company willl produce 20,000 bags/day of cement, which will then be ramped up to 60,000t/day. The cement producer was established with NPR10.5bn (US$94m) of domestic capital and operates a cement works at Ratomate, Hetauda, Makwanpur. It employs around 300 people and uses ...
Sagar Cements reports rise in cement production for May
India’s Sagar Cements has reported a 12.9 per cent YoY rise in consolidated cement production in May 2019, increasing to 277,146t from 245,454t in the year-ago period. Standalone production advanced 9.2 per cent to 201,241t, compared with 184,278t in May 2018. Meanwhile, sales climbed 13.3 per cent YoY to 275,330t in May 2019.
Eurocement modernises Katavskiy Cement grinding section
Russia-based Eurocement has invested more than RUB180m (US$2.8m) in the modernisation of the grinding system at its Katavskiy Cement plant. The project saw input from several European equipment suppliers. Christian Pfeiffer delivered separators, while Aumund and Siemens were responsible for the plant’s elevators and automation systems, respectively. Vega delivered the internal milling equipme...
Cementos Esfera moves to Madrid
Spain’s Cementos Esfera (LafargeHolcim) has relocated its base of operations from Salou, Catalonia, to Madrid. LafargeHolcim has decided to convert the Salou unit into a distribution centre that will serve the group’s facilities in Montcada and Sagunto. The news follows its parent company also moving to the capital at the beginning of 2018. Cementos Esfera stopped its 0.5Mta cement milling op...
Votorantim Cimentos records 6% net revenue rise
Brazil's Votorantim Cimentos has reported a 5.5 per cent YoY rise in net revenue to BRL2524m (US$654.5m) for the first quarter of 2019. The increase was attributed to the results of its Brazilian and other Latin American operations, combined with the positive effect of the real’s depreciation against the US dollar. The company’s adjusted EBITDA surged 179.9 per cent to BRL586m from BRL214m, ...
Holcim Philippines seals large cement supply contract
Holcim Phlippines Inc has sealed an agreement with Davao Constructors Association Center Inc (DCACI) to supply 400,000t of cement to its building group of 179 construction companies. This follows the provision of 320,000t of cement being supplied by Holcim Philippines to DCACI in 2018. Having introduced its new high-performance blended cement called Solido, construction companies have been ea...
Calcar Products to begin work on new grinding unit
India's Calcar Products is expecting to begin Phase I of its new cement grinding unit project this month. The facility will be set up in two phases at Bhupdeopur village of Raigarh district, Chhattisgarh, with each phase representing 0.33Mta of cement capacity. Th estimated investment cost for Phase I is INR420m (US$6.06m) and INR330m for Phase II. The project is due for completion in the fi...
Holcim Philippines reports 35% EBITDA surge in 1Q19
Holcim Philippines has reported a 5.8 per cent YoY decrease in revenue to PHP8.1bn (U$156.28m) for the first quarter of 2019. However, EBITDA has surged 35 per cent to PHP1.7bn while its EBITDA margin climbed from 14.6 per cent to 20.8 per cent in the 1Q19. A minor increase in net profit to PHP704m from PHP700m has been attributed to higher interest expenses for funding capital projects. "I a...
Nepal's state cement plants outperform other public manufacturing companies
Nepal's state enterprises had a poor FY17-18 with 26 only out of 39 public companies making a profit. The government injected NPR164.42bn (US$1.48bn) into the 39 public enterprises, an increase of 0.67 per cent compared to the previous fiscal year, according to the Annual Performance Review of Public Enterprises. The manufacturing sector suffered particularly with Hetauda Cement Industries an...
Alpha Cement plant to resume construction
Construction of Alpha Cement plant, near the village of Aung Thabyay in Patheingyi Township, Mandalay, Myanmar is due to resume after police arrested approximately 100 protestors in May. The US$200m cement plant is being established by China's Myint Investment company under the approval of the Myanmar Investment Commission, but the project has been suspended since its approval in 2012, due ...