Cement News tagged: Corporate
Minister requests Vicem to step up performance
The Vietnam Cement Industry Corporation (Vicem) has been challenged, at a working session, by Mai Tien Dung, Minister and Head of the Government Office, to attach special importance to restructuring and equitisation – two of the key tasks assigned by the Vietnamese government and the Prime Minister for the corporation. The Minister stressed that Vicem must boost the quality and effectiven...
CEO to list BUA Cement on the Nigerian Stock Exchange
The founder of BUA Group, Abdulsamad Rabiu, has announced plans to list the cement sector of the company on the Nigerian Stock Exchange (NSE). Abdulsamad Rabiu, recently nominated for African CEO of the year, stated that he would list BUA Cement on the NSE as soon as it meets the necessary requirements, according to an interview on Channels Television. "We are definitely going to list ...
Thomas Schmidheiny and Bertrand Collomb retire from LafargeHolcim Board of Directors
Thomas Schmidheiny has taken the decision not to stand for re-election at LafargeHolcim’s upcoming Annual General Meeting on 8 May 2018, according to a company press statement. Mr Schmidheiny has been with the Group for almost 50 years in different management functions and later on the Board of Holcim. Following the merger, Thomas Schmidheiny has been a Board member of LafargeHolcim since 2015...
Lafarge Cement Zimbabwe reports 4% revenue decline in 2017
Lafarge Cement Zimbabwe Ltd posted a loss of US$609,589 for the year ended 31 December 2017. Revenue during the period under review fell 4.14 per cent to US$58.4m from US$61m recorded at the end of 2016. Total current liabilities rose by 9.2 per cent to US$38.18m. Lafarge Cement Zimbabwe Chairman, Kumbirai Katsande, said a full-year sales decline of four per cent was recorded with reduced ...
Ciments de Bizerte resumes exports after a decade
Ciments de Bizerte has restarted exports after 10 years with a 25,000t shipment of clinker to Cameroon. The consignment is part of the company’s renewed efforts to enter the export markets with bulk deliveries of clinker and cement. The Tunisian cement producers plans to export large volumes of clinker and bulk to African and Mediterranean markets, its CEO, Jalel Ben Ohman told TAP news agen...
Cementir Holding completes acquisition of Lehigh White Cement Co stake
Cementir Holding completes today the acquisition of an additional 38.75 per cent stake in Lehigh White Cement Co. The acquisition of the stake from HeidelbergCement-owned Lehigh Cement Co LLC was announced on 14 February 2018 and purchased at a price of US$106.6m, on a cash and debt-free basis. Following the transaction, Cementir will hold 63.25 per cent of shares in Lehigh White Cement...
Phuc Son Cement violates mineral licence
Phuc Son Cement's exploited mineral volume has exceeded the volume it initially licensed in 1996, said the State Audit of Vietnam (SAV) in an inspection report submitted to the country's Prime Minister and Chairwoman of the National Assembly of Vietnam. Phuc Son Cement Corporation will now be under investigation due to violations in exploiting minerals. Phuc Son Cement has reportedly used ou...
Tanzania Portland Cement's profits fall to TZS35.5bn in FY17
Tanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016. According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs. Income tax nearly doubled to TZS30bn in ...
Bangladesh plans dry-process conversion at Chhatak
Bangladesh Chemical Industries Corporation (BCIC), owned by the Bangladeshi Ministry of Industries, is still looking for an engineering and construction contractor to convert the Chhatak cement plant into a dry-process plant in northeast Bangladesh. To allow more time for international companies to submit their bids, BCIC has extended bid due date to 23 April 2018. The Chhatak factory was e...
LafargeHolcim Algeria completes third Gambia consigment
LafargeHolcim Algeria carried out its third export shipment of grey cement to Gambia from the port of Arzew on 28 March, the company said. Following two earlier shipments in December 2017 and March 2018, some 30,000t of bulk grey cement was delivered from its Oggaz cement plant in Mascara to Gambia. LafargeHolcim Algeria aims to raise its exports to west Africa to 5Mt by 2020. The group ...
CMS records 4% increase in revenue for 2017
Malaysia-based Cahya Mata Sarawak Berhad (CMS) has released its results for the full-year 2017 period, recording a 4 per cent YoY increase in revenue to MYR1.61bn (US$415.67m) from MYR1.55bn. The group also announced a 26 per cent rise in profit after tax and non-controlling interests (PACNI), to MYR213.21m from MYR169.18m. The cement division was amongst the main contributors to the group's...
Annual VDMA Building Material Plants Day held in Frankfurt
The annual VDMA Building Material Plants Day highlights the efforts made by plant manufacturers who supply the cement industry and many others. "We anticipate that incoming orders will once again grow in the double-digit range this year," said Hermann Weckenmann, Chairman of the VDMA Building Material Plants Group. Mr Weckenmann noted the increase in demand anticipated from emerging countries ...
Buzzi Unicem Full Year 2017 results
In 2017 Buzzi Unicem group sold 26.8Mt of cement (+4.4 per cent compared to 2016) and 12.3Mm 3 of ready-mix concrete (+3 per cent YoY). Consolidated net sales increased by 5.1 per cent, from EUR2669.3m to EUR2806.2m. EBITDA decreased by 7.7 per cent from EUR550.6m to EUR508.2m. The foreign exchange effect was negative for EUR2m. The figure for the year under review includes non-recurring c...
Bamburi Cement reports 66% fall in net profit for 2017
Bamburi Cement has recorded a 66 per cent YoY fall in its net profit for the full-year 2017 period, decreasing to KES1.97bn (US$19.51m) from KES5.8bn. The results have been attributed to lower sales in Kenya after the prolonged election cycle, tightened liquidity and delayed projects, according to All Africa. Similarly, operating profit dropped 50 per cent to KES4.1bn as a result of lower r...
Unacem acquires seven Chilean concrete plants
Peruvian cement producer Unacem has purchased, via its Unión de Concreteras (Unicon) subsidiary, a 100 per cent stake in Hormigones Independencia, part of the Chilean Hurtado Vicuña group. The US$22.2m transaction, paid for by own funds and a bank loan, covers seven concrete plants located throughout Chile, in La Serena, Rancagua, San Felipe, Concón, Quilicura, San Fernando y Chillán. T...
CRH issues new bonds
CRH has issued US$1.5bn of bond debt at a lower cost than expected, reports the Irish Independent. In total, it consists of a 10-year US$900m bond and a 30-year US$600m bond. Both bonds were approximately 200 basis points below initial pricing indications which suggests the level of demand, according to Robert Gardiner, Davy Analyst. The funds are expected to be used to finance the acquisiti...