Cement News tagged: Corporate
Anjani Portland Cement plans to expand capacity
India’s Anjani Portland Cement has approved plans to construct an additional clinker production unit at its plant in Suryapet, Telangana. The project will see an investment of INR4bn (US$61.49bn) to expand the facility’s capacity from 1.16Mta to 2.31Mta, according to India Infoline. The expansion is expected to be completed by December 2019, and will be funded through either internal accrual...
China Tianrui records revenue increase for 2017
China Tianrui Group Cement has announced that its profit attributable to owners rose 238.6 per cent YoY for the full-year 2017 period, increasing to CNY1bn (US$158.47m) from CNY295.8m. Revenue advanced 40.1 per cent on the previous year, reaching CNY8.42bn. Gross profit grew by 58 per cent YoY to CNY2.40bn, while the gross profit margin rose to approximately 28.5 per cent. This has been att...
RAK White Cement to pay dividends worth AED25m
UAE-based RAK White Cement has approved the Board’s recommendation to distribute five per cent of capital as cash dividends for the FY17. The company will pay five fils per share to the entitled shareholders, amounting to a total of AED25m (US$6.81m). RAK’s preliminary financial results for the FY17 show a 27.6 per cent YoY fall in profits to AED30.42m, compared to AED42m of FY16. The compan...
HeidelbergCement reports record 2017
Despite a challenging environment, HeidelbergCement has announced at 14 per cent YoY increase in revenues to EUR17.3bn in 2017 from EUR15.2bn in 2016 although on a pro-forma basis, ie taking into account the contributions of Italcementi for the 1H16, the increase was more modest at two per cent. The company's sales volumes of cement, aggregates and ready-mixed concrete increased significant...
Dangote receives approval to raise NGN300bn in local-currency bonds
Dangote Cement Plc has announced that it received approval from the Securities and Exchange Commission (SEC) and other regulators to raise NGN300bn (US$833m) in local-currency bonds, according to This Day. The bond will be issued in stages of NGN50bn whenever interest rates are favourable. The company plans to use the fund to finance its expansion and refinance its debt. Dangote is expected ...
Raysut Cement to look at 1Mta plant in Georgia
Oman’s Raysut Cement Co is planning to carry out an initial study for a 1Mta plant in Georgia, according to Muscat Daily. The company’s subsidiary, Pioneer Cement Industries Georgia Ltd, already owns a mine with over 30Mt of limestone reserves, located 60km from Tbilisi. According to a disclosure filed to the Muscat Securities Market, Raysut Cement has begun discussions with possible partne...
Dangote Cement records 31% revenue increase in 2017
Dangote Cement Plc has announced its unaudited results for the full-year 2017 period, which show a 31 per cent YoY increase in revenue to NGN805.6bn (US$2.24bn) from NGN615.1bn. Revenue attributable to Nigeria grew by 29.6 per cent YoY, with the sales from the company’s three plants in the country contributing NGN552.36bn. The remaining NGN258.44bn was generated by plants in other African cou...
Al Karama Holdings names six prequalifiers for Carthage Cement
Six foreign groups have submitted bids for the acquisition of a 50.52 per cent interest in Tunisian cement producer Carthage Cement, according to Al Karama Holding, the company responsible for managing companies confiscated by the Tunisian state from the former regime of Zine El Abidine Ben Ali. Companies interested in purchasing the stake are Cementos Portland Valderrivas (Spain), Cemolins...
Indocement opens new Palembang terminal
Indocement has opened a new cement terminal in Palembang, South Sumatra, Indonesia. The 0.5Mta terminal will improve the company’s distribution and logistics in the western part of the archipelago. The cement producer has currently a market share of 14-15 per cent on Sumatra, which is the second-largest market in Indonesia after Java. The new terminal is expected to help raise this to 20-25...
RHI Magnesita announces adjusted pro-forma revenue of EUR2677.2m
RHI Magnesita saw pro-forma revenue up 11 per cent in 2017 to EUR2677.2m for its steel and industrial divisions. The results include consolidated 10-month results for RHI and two-month reporting for RHI Magnesita. RHI Magnesita's two-month revenue amounted to EUR1946.1m, up 17.9 per cent over the previous year. Reported revenue from the Industrial division amounted to EUR577.6m. Reported EBI...
Cemex considering Brazil and India entry
Cemex CEO, Fernando González, said the company is considering entering two new emerging markets, Brazil and India, according to Construction LatinoAmericana. "We could make acquisitions if they meet the conditions we have set, but if we do not find an attractive option to buy, we will do something else," the executive said, referring to a possible repurchase of shares. During the Ceme...
UltraTech announces new bid for Binani Cement
UltraTech Cement announced its intention to take over Binani Cement on Monday, with an offer of INR72.66bn (US$1.11bn). The new offer follows Dalmia Cement's claim that its INR63.50bn bid had been accepted by lenders last week. UltraTech's board has agreed to supply a 'comfort letter' guaranteeing the INR72.66bn in return for a 98.43 per cent stake in Binani Cement, according to DNA Money. ...
Vicat enters framework agreements with Andhra Pradesh and Karnataka
During the state visit of French President Emmanuel Macron to India, the Vicat Group has entered into two framework agreements with the Indian states of Andhra Pradesh and Karnataka to support them with their economic development. The group has confirmed its long-term interest in the market by announcing plans to double capacity at its Kalburgi cement plant in Karnataka and the construc...
Shun Shing Group consolidates international trading divisions
Hong Kong's Shun Shing Group has announced the launch of Cemcoa, the new name for its international trading arm. All of the group’s trading divisions have been consolidated under the new name and will operate out of 15 international offices. According to a press release, the company traded 11Mt of cement, cementitious materials and solid fuels in 2017. Alongside this, Cemcoa ships dry bulk ...
CEO of Shanshui Cement Group resigns
China’s Shanshui Cement Group has announced that its CEO and executive director, Li Heping, has resigned with immediate effect. Elsewhere, Liu Yiu Keung has stepped down from his role as chairman of the board and executive director of the company. Li Zhiqiang has also resigned from his position as vice chairman of the board and executive director. Following this, Li Liufa has been appoi...
Thatta Cement's profit falls to PKR183.9m in 6MFY17-18
Thatta Cement Co Ltd's profit after tax fell from PKR389.8m (US$3.5m) to PKR183.9m (US$1.6m) during 6MFY17-18. Clinker production stood at 194,825t with a capacity utilisation of 76.4 per cent in comparison to clinker manufacture of 236,135t and capacity utilisation of 92.6 per cent during the corresponding period of last year. Lower off take of cement and accumulation of huge clinker stocks ...