Cement News tagged: Corporate
Titan Group announces 9M17 net profits of EU33.1m
Titan Group recorded a small increase in sales and operating profitability in the nine months of 2017, mostly thanks to the growth in the US market. Consolidated turnover reached EUR1144.5m, posting a 1.8 per cent increase compared to the same period in 2016. EBITDA increased by 4.6 per cent to EUR214.5m. Net profit, after minority interests and the provision for taxes, stood at EUR33.1m versu...
Semen Indonesia sales volumes up 6% in September
Semen Indonesia consolidated sales increased by 6.3 per cent YoY to 2,639,187t in September 2017. Volumes were primarily destined for the domestic market, which received 2,513,297t, an increase of 3.7 per cent when compared with the year-ago period. In addition, the cement producer saw its export sales more than double from 60,499t in September 2016 to 125,890t in September 2017. Of total d...
Masud Khan appointed CEO of Crown Cement
According to The Daily Star, Masud Khan has been appointed CEO of Crown Cement Group. Mr. Khan has previously served as CFO of LafargeHolcim Bangladesh Ltd. Alongside this, Khan has also been an independent director of Marico Bangladesh Ltd, GlaxoSmithKline Bangladesh and Berger Paints Bangladesh Ltd. “I believe that Crown will rise to greater heights in the years ahead and I am excited to ...
Kuwait Cement earnings surpass US$10m in 3Q17
Kuwait Portland Cement achieved a jump of 471.61 per cent in profits during the 3Q17 compared to the same period last year. The company's earnings soared to KWD3.13m (US$10.37m) in 3Q17 compared to nearly KWD547,320 (US$1.81m) in 3Q16, according to a bourse statement issued on Wednesday. During the first nine months, Portland Cement posted KWD8.19m profits which were 30 per cent higher ...
MOU signed for Shree Cement to investigate potential new plant in Jharkhand
The Jharkhand government has signed MoUs with Mineral Exploration Corporation Ltd (MECL) for undertaking mineral exploration to identify prospective mineral blocks with Shree Cement for setting up a cement plant in Jharkhand, a state government a press release said. The MOU was signed at a three-day Mining and Minerals summit in Jharkhand, India.
Siam Cement Pcl sees 16% fall in profit
Siam Cement Pcl reported a 16 per cent fall in 3Q17 net profit on Wednesday due to weak demand and lower margins in its chemical and packaging segments. According to a poll by Thomson Reuters, the net profit for the third quarter was THB11.84bn (US$357.06m) thereby missing expectations of THB14bn. Revenue from sales rose seven per cent to THB112.43bn. Domestic cement volume sales were also do...
Pacasmayo reports 6.7% rise in 3Q income
Cementos Pacasmayo increased its deliveries of cement, concrete and blocks by 4.8 per cent YoY in 3Q17 due to a higher level of self-construction activity and the recovery in public spending towards the end of the quarter. The Peru-based cement producer reported a 6.7 per cent YoY advance in income to PEN334.7m (US$103m) as a result of increased sales volumes and higher prices. Consolidated ...
Carthage Cement sees 11% fall in 3Q turnover
Tunisia’s Carthage Cement saw its turnover fall by 11 per cent YoY to TND132.4m (US$53.1m) in 3Q17 from TND149m in 3Q16. The company’s domestic sales remained stable at TND95.437m, leading to a market share of 19 per cent. In terms of export sales, revenues fell by 77 per cent in the 12 months to 30 September with some sales to Libya. However, the company has not been able to recover in...
Caribbean Cement limits its risk of rising fuel consumption
Caribbean Cement Company Ltd is now hedging its fuel bill to stabilise its costs. The company started to invest in hedges in the second quarter, amid rising sales and profit at the Rockfort-based operation and has spent US$70.76m on the hedges so far this year. Caribbean Cement entered into forward contracts through its ultimate parent company, Cemex of Mexico, to hedge the price of estima...
Loma Negra sets its IPO at US$19/ADS
Loma Negra Cia Industrial Argentina SA said on Tuesday its initial public offering was priced at US$19 per American Depository share (ADS), raising about US$954m (US$40.4m). The US$50.2m ADS offering was priced at the top of the proposed range of US$15 to US$19, with each ADS representing five common domestic shares. Most of the proceeds will go to InterCement Brasil SA, Brazil’s second-...
CoolCure set to take the heat out of hydration
New Technology Solutions LLC, a subsidiary of Silicone Solutions (Cuyahoga Falls, OH, USA), has developed a patent-pending (PCT US15/11849) CoolCure technology to significantly reduce or eliminate the heat of hydration. CoolCure works by minimising byproducts (calcium hydration) and creating more efficient reaction in the cement curing process to generate more strength, "from 40-100 per cent...
Ashaka Cement approves Lafarge Africa's acquisition deal
Shareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory ...
Saudi Arabian companies report profit falls in 3Q17
Saudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in ...
Caribbean Cement consolidated profit hits JMD2bn
Caribbean Cement group reported YtD consolidated profit before tax of JMD2.01bn (US$15.86m) over nine months compared to JMD1.26bn last year, reports Loop Jamaica. The two-thirds jump was attributed to a JMD437m write-down of overstocked items identified in 2016 and JMD407m incurred during the implementation of restructuring programmes last year. In the reporting quarter, the group a...
Fauji Cement records a 1QFY18 net profit of PKR444m
Fauji Cement (FCCL) has earned net profit after tax of PKR444m (US$4.2m) in 1QFY18, down by 27 per cent YoY. The company's sales stood at PKR4.79bn, up by nine per cent YoY . FCCL reported incurring distribution cost of PKR40m and administrative cost of PKR74m during this period. This translates distribution cost increasing by 18 per cent but administrative cost fell by five per cent...
Habesha Cement forced to halt production
Habesha Cement, has halted its cement production at its plant near Holeta city, Oromia State due to a security threat. The decision was made after young anti-government protestors occupied the cement manufacturing plant which was inaugurated last April. Mesfin Abi (Eng), CEO of Habesha Cement SC, explained production was suspended. "More than 20 youngsters from the locality and other places ...