Cement News tagged: Corporate
Cemex is the first company to operate plants by remote control
Cemex has announced that it is the first company in the industry to successfully operate plants by remote control. The company’s monitoring and remote control system, Centro de Control Cemento (C3), operates in real time and tracks the live data of 14 cement plants, 25 kilns and 86 grinding mills in Mexico, alongside a facility in Colombia and another in the US. Cemex created the C3 to unify t...
Cementarnica Usje net profit falls 9% in 2017
Macedonia’s Cementarnica Usje reported a nine per cent YoY fall in its non-consolidated net profit to MKD1.09bn (US$61.8m) in 2017. The Titan-owned company’s operating profit decreased 10 per cent to MKD1.18 as operating expenses rose six per cent to MKD3.33bn, the cement producer said in a bourse filing. Operating revenues increased by three per cent to MKD4.58bn, driven by a 42 per ce...
Phinma Corp begins imports from Vietnam
Philippine cement company Phinma Corp has recently imported 50,000t of cement, or approximately two million bags, from Vietnam with plans to import the same volume per quarter to a total of 200,000tpa as it breaks into the Philippines market. The Philippine cement market is expanding rapidly due to large government-funded infrastructure projects. Registered by Phinma Corp in September 2017,...
Vicat announces plans for upcoming Indian projects
Vicat Group will invest INR5.1bn (US$78.4m) to set up a 1.75Mta greenfield grinding unit in Vizianagaram, Andhra Pradesh, India. The group’s subsidiary Kalburgi Cements Pvt Ltd has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB), an agency dedicated to attracting investments into the state. Vicat plans to invest approximately INR17.35bn in Ind...
Chia Hsin Cement Corp reports revenue decrease in February
Taiwan-based Chia Hsin Cement Corp has announced its results for the Jan-Feb 2018 period, recording a 26 per cent YoY decrease in revenue from TWD404.17 (US$13.80m) to TWD297.68m. In February the company saw a 27 per cent fall in revenue to TWD125.59m from TWD171.51m of the year-ago period.
Cementos Yaracuy scheduled to come online this year
As part of an agreement between Venezuela and India, Megatech International is currently building a 600tpd cement plant in the Barranco Amarillo sector of the Valeroso Peña Industria Complex, Peña, Venezuela. The Cementos de Yaracuy project is expected to generate 300 direct jobs. "When starting operations, it will produce 600tpd of cement, for a total of 4.5m bags of 42 kilos per year, of...
China Resources Holding forecasts significant increase in 1Q18 earnings
China Resources Cement Holdings (CRCH) said it expects a "significant increase" in group net profit for the first quarter ending on 31 March 2018, after it more than doubled its profit last year. Average selling prices of the company's cement products were about 33 per cent higher over the first two months of 2018 from a year earlier, the company said in a stock exchange filing. CRCH's group...
Dalmia Bharat-led bid approved by lenders
Lenders to the bankrupt Binani Cement have decided that a a Dalmia Bharat-led bid would be allowed, thereby overruling the objections of UltraTech Cement. The offer fulfilled all of the conditions and hence there is no reason to block it, reports a source for The Economic Times. At a meeting held in Mumbai on Wednesday, the lenders involved decided to seek the approval of their respective b...
Universal Cement Corp reports revenue decrease in February
Universal Cement Corp. has reported a decrease in revenue for the February 2018 period, falling 13 per cent to TWD268.12m (US$9.14m) from TWD308.36 of the year-ago period. However, the Jan-Feb revenue increased by eight per cent YoY from TWD672.2m to TWD728.6m.
Cementir announces 13% EBITDA rise in 2018
Cementir reported a 10.9 per cent increase in revenues to EUR1.14bn in 2017 from 1.028bn in 2016. EBITDA advanced by 12.6 per cent to EUR222.7m while net profit edged up 6.2 per cent to EUR71.5m from EUR67.3m. The figures do not include the Cementir Italia Group (discontinued operations), but do include Compagnie des Ciments Belges SA (CCB), which Cementir acquired on 25 October 2016. The co...
Loma Negra 4Q17 net revenue rises by 57%
Loma Negra (InterCement group) announced its results for the three- and 12-month periods ended 31 December 2017 with net revenue for 4Q17 increasing 57.1 per cent to ARS4452m (US$218.9m), from ARS2834m (US$139.3m) in 4Q16, mainly driven by higher volumes sold across all segments along with increased prices. Total cement, masonry and lime sales volumes in Argentina increased 14 per cent YoY i...
The Ministry of Coal cancels mining licence
India's Ministry of Coal has cancelled the mining licence for the Mandla South coal block won by Jaypee Cement, following the sale of the attached plants to UltraTech Cement. Jaypee sold three of the four projects linked to the block in Madhya Pradesh to UltraTech in January 2017, reports The Economic Times. According to a letter written by the Ministry, "The successful bidder had sold the ...
Three Cemex USA quarries win NSSGA awards
Cemex USA's FEC Quarry in Miami won the National Stone, Sand & Gravel Association (NSSGA) 2018 Platinum Award for Excellence in Community Relations. Two other Cemex USA facilities in Florida also received community recognition from the NSSGA. Kirk Light, Cemex USA Regional President – Florida region, accepted the award during a ceremony at the NSSGA's Annual Convention in Houston, Texas. ...
Whale Rock Cement ready to start production in April
Whale Rock Cement, a joint venture between Chinese businesses and a Namibian partner, is to start producing cement in April, under the Cheetah Cement brand, according to company spokesperson Manfred Uxamb. Mr Uxamb said the plant will start operating at the end of next month but will only be fully operational by the end of August 2018. The US$350m plant will have a cement capacity of 1.2Mta m...
Sit-in at Egypt's National Cement prompts Parliamentary investigation
Egypt's National Cement Company is to be investigated after parliament decided it must resolve the dispute that has seen factory workers start a hunger strike and a sit-in, nearly a week ago, after 75 per cent of their wages were deducted. Work ground to a halt at National Cement company last November and MPs are demanding the real reasons for the government-affiliate's economic problems, w...
Nuvoco Vistas wins improvement award
India-based Nuvoco Vistas Corporation Ltd has won the 'Best in Class Continuous Improvement Award' during the 7th Manufacturing Supply Chain (MSC) Awards held in Mumbai. The award was given to the company’s Jojobera plant for demonstrating continuous improvement in manufacturing through cost reductions in specific power consumption and specific heat consumption, increasing productivity by usin...