Cement News tagged: Corporate
Maple Leaf Cement issued favourable ruling
Maple Leaf Cement Factory Ltd announced on Thursday that Lahore High Court has approved the Environmental Impact Assessment (EIA) filed by the company. As a result, an order passed by the Environmental Protection Agency (EPA) last month to stop construction work at a new 7300tpd line, has been set aside. However, the company has been ordered by the court to maintain status-quo until a repor...
UltraTech reports rise in net sales
UltraTech Cement Ltd has announced that its net profit decreased by 25 per cent YoY to INR4.21bn (US$65.98m) in the October-December quarter of 2017. However, net sales of the company rose 35 per cent to INR75.8bn in the same period, according to Bloomberg. EBITDA increased by 13.9 per cent to INR12.6bn in the 3QFY18, when compared to the corresponding period of the previous financial year....
Invesa raises Bío Bío stake
Following the launch of a public offer to buy 54,208,259 shares in Cementos Bío Bío (CBB) last month, Inversiones y Desarrollos (Invesa) has confirmed it has increased its stake in the Chilean cement producer to 39.5606 per cent. Invesa paid CLP847 (US$1.40)/share for the recently-bought 0.0448 per cent stake. In November it had acquired a 13.1 per cent share in CBB from Brazil-based Votora...
CDC seeks ARM divestment
The Commonwealth Development Corp (CDC), the UK government agency that acquired a 42 per cent stake in ARM Cement, is reportedly in talks with several, mostly Asian, companies to sell its shares in the Kenyan cement producer. When it invested in ARM Cement, the agency provided a US$140m cash injection to turn the cement firm around, but this has turned out to be insufficient.
BBMG expects rise of up to 12% in net profit for 2017
BBMG Corp expects a rise in net profit of 0.5-11.5 per cent YoY for the full-year of 2017, reports Nikkei. This translates to a net profit between CNY2.7bn (US$418.9m) and CNY3bn for the period. The significant increase shown in these preliminary results are the consequence of higher cement sales and better margins in the company’s cement and clinker businesses. After the deduction of non-r...
Cement Industries (Sabah) inks pozzolan deal
Cement Industries (Sabah) Sdn Bhd (Sabah Cement) of Malaysia has signed an agreement with Ecooils Sdn Bhd for a 10-year supply of ecologically-processed pozzolan for use in Sabah Cement's products. Sabah Cement chief executive officer, Bahrul Razha Chuprat, said the processed pozzolan material, an oil palm byproduct, would enable the company to produce its blended cement product for infrastr...
Steppe Cement sees 20% revenue rise in 2017
Steppe Cement has announced that its full-year revenue for 2017 was 20 per cent higher than the previous year, reports Alliance News. The revenue for the period increased to KZT21.4bn (US$65m) from KZT17.9bn seen in 2016. The rise in revenue has been attributed to both an increase in cement prices and the volume of cement sold. The Kazakhstan-based manufacturer saw a 3.8 per cent YoY increa...
CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger
CRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation. In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not bee...
Paraguay: INC Vallemi sales up 19% in 2017
Paraguayan cement producer Industria Nacional del Cemento (INC) sold 20.06m bags of cement in Vallemi in 2017, representing an 18.5 per cent rise YoY. The increase continues the positive trend experienced in the last few years by the cement company. Sales increased to 1.36m in 2015 from 890,363 bags in 2014.
Dalmia Bharat begins using national waterways for exports
Dalmia Bharat Cement exported its first cement shipment of 200Mt from Pandu port to Dhubri on Friday, reports The Telegraph. The occasion marked Dalmia’s fifth brand anniversary in the northeast region of India, with the shipment being released by Mahendra Singhi, Group CEO, Dalmia Cement. The company is using national waterways, such as the Brahmaputra, to transport cement in the hope tha...
JSW Cement to bid on Binani Cement
JSW Cement Ltd will partner with a global equity firm to bid for Binani Cement, according to The Hindu BusinessLine. It is expected that as many as 11 industry players, including Ultratech and Dalmia, will submit a bid for the company which is currently undergoing the bankruptcy process. "There are a lot of bidders and this is going to get aggressive because nobody wants to leave these asse...
Raysut reports 67% profit after tax fall
Raysut Cement Co of Oman has reported a 22.4 per cent drop in initial unaudited consolidated revenues in 2017 to OMR71.895m from OMR92.588 in 2016. The company’s operational profit fell by 65 per cent to OMR7.862m from OMR22.408m in the previous year. Profit before tax also saw a significant decrease at 60 per cent to OMR9.167m from OMR22.896m. Profit after tax decline by 66.6 per cent to OM...
Vallemi cement distributors concerned about shortages
The association of cement distributors in Vallemi, Paraguay, has expressed its concern over the limited output at Industria Nacional del Cemento (INC)’s plant in Vallemi. Despite an US$67m the plant is reported to be unable to guarantee clinker production and Portland cement deliveries. Operation of the kiln has been intermittent and the company is waiting for foreign specialists to carry o...
Pacific Cement Ltd completes upgrades to mill
Fiji's longest-running cement manufacturer, Pacific Cement Ltd, has completed major upgrades to its cement mill, according the Fiji Sun. The renovation of the mill means that it can now produce 25tph, an increase compared to the 20-22tph rate seen previously. Sowani Tuidrola, chief executive officer, Pacific Cement Limited, has said that he is confident that the company will be able to meet ...
Arabian Cement plans expansion into Africa and Asia
Arabian Cement is planning to expand into regional markets in Africa and Asia to boost its profitability amid strong competition in the Egyptian market, according to reports in the Daily News Egypt. To date the company, which has a output of around 5Mta, has exported to Libya, Kenya, Madagascar, Somalia and Yemen. Arabian Cement is a joint venture between Spain-based Grupo Cementos La U...
ASEC, Taiheiyo Engineering and Promac to team up
Arab Swiss Engineering Co (ASEC), Egypt, joins forces with Taiheiyo Engineering Corporation (TEC), Japan, and its joint venture partner Promac, India, to roll out end-to-end solutions for the optimisation of cement manufacturing process and energy conservation. The three cement industry suppliers hosted a signing ceremony of a memorandum of understanding on 19 November 2017 to set the frame...