Cement News tagged: Corporate
Fiji Pacific Cement stoppage for renovation
Fiji’s Pacific Cement will be shutting down its cement mill for three weeks following the arrival of nine engineers from New Zealand to install a new motor and other parts and repair the outstanding issues at the plant. “So we’re in the right point now to shut down our factory, cement mill for the next three weeks and to introduce the new parts, the new motor and everything else to make sur...
Power cuts affect Udaypur Cement
Regular power cuts in the last fortnight have led to losses of around INR20m at Udaypur Cement’s Gaighat plant, India. The company had started the new financial year with good business as the power supply to the works had been regular, according to plant manager, Nawal Kishore Saha. While the company has previously requested the authorities an uninterrupted power supply, its requirement had...
Vicem Hoang Mai requested to build plant elsewhere
Authorities of Vietnam’s Nghe An province have asked the Vicem Hoang Mai Cement Joint Stock Company, an affiliate of Vietnam Cement Industry Corporation (Vicem), to study a different location for the construction of the company’s 4.5Mta Hoang Mai 2 cement plant. The provincial authorities have rejected the company’s proposal to develop the VN10.8tn (US$475.25m) plant in Hoang Mai 2 industri...
Sanghi Industries receives "India's Most Trusted Company 2017" award
India-based cement producer Sanghi Industries reported it has received the ‘India's Most Trusted Company 2017’ award from IBC InfoMedia on 24 September 2017. “‘India's Most Trusted Company Award’ is a unique recognition of the success and ingenuity of the fastest growing companies across India and the unique brains behind them. Sanghi Industries is selected as one of India's Most Trusted Co...
McInnis Cement inaugurates plant
Monday, 25 September saw the inauguration of the 2.3Mta McInnis Cement plant in Port-Daniel-Gascons, Canada. In the presence of more than 200 guests, primarily suppliers and subcontractors and McInnis employees, the chairman of the company’s board, Laurent Beaudoin, said: "We got there, factory, quarry, terminal. The cement plant that has been talked about for so long and that the Gaspésiens h...
S&P upgrades Cemex to BB
Cemex SAB de CV announced that S&P Global Ratings upgraded its corporate credit rating in its global scale to BB from BB-. According to S&P, the upgrade reflects the continued improvement of Cemex's financial performance and leverage metrics during 2017, fuelled by a faster-than-expected completion of the asset divestment plan, the early conversion of part of the optional convertible notes ...
Philippines: Eagle Cement receives tax incentive
Eagle Cement Corp reported that two of its cement projects with a total cost of nearly PHP19bn (US$373m) have been recently approved by the Board of Investments (BOI) under the prevailing Investment Priorities Plan (IPP), which provides such business activities with fiscal and nonfiscal incentives. The projects relate to the PHP6.5bn expansion of the company’s Bulacan plant and the PHP12.5b...
Ciments de Bizerte doubles loss in 1H17
Tunisia-based Ciments de Bizerte saw its revenues fall to TND31,673m (US$12,923m) in 1H17 from TND34,564m. Its gross margin fell by TND2235m YoY and its operating income fell to TND1-545m, according to African Manager. At the end of June the company reported a loss of TND-16,613m from TND-8806m in 1H16.
Cape Lime business to boost Afrimat's earnings
Aggregates and building materials supply company Afrimat, based in Durbanville, Western Cape, South Africa, expects to see higher profit contributions from its Cape Lime business going forward. Afrimat CEO, Andries Van Heerden, said: "We are hedged against economic volatility through wide diversification. The operational contribution is interesting to breakdown," Mr Van Heerden said. "In ...
Lafarge's Ravena cement plant upgrade is completed
The ribbon has been cut on the completion of a three-year, multi-million dollar modernisation project to imporve the Lafarge (LafargeHolcim group) Ravena Cement plant in New York, USA. The cement from the Ravena facility supplies more than 1Mta of locally-produced product for high-profile projects in the Northeast, including One World Trade Center, the World Trade Center Memorial and Giants...
Ciments du Maroc posts 20% rise in net profit
Ciments du Maroc reported consolidated sales of MAD2.029bn in 1H17, up 1.1 per cent YoY. Consolidated EBITDA remained stable at MAD929m. Net profit advanced by 19.8 per cent from MAD503m in 1H16 to MAD603m one year later, mainly due to a reduction in taxes. The company said sales reflected the annual slide in sales volumes during Ramadan which saw deliveries fall 6.9 per cent when compa...
Aalborg Portland opens new Rochefort terminal
Aalborg Portland has celebrated the opening of its new Rochefort terminal to improve its local presence for white cement customers in southwest France. "We are very pleased that with the new terminal in Rochefort we can expand the market area for white cement from production in Aalborg. This gives an increased level of activity on Danish grounds, that our production in Aalborg is competit...
CRH agrees US$3.5bn acquisition of Ash Grove Cement
CRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio ...
OCL India a step nearer to new plant in Rajgangpur
At a public hearing, OCL India Ltd has received local support in Rajgangpur, Sundargarh district, for a new 2.25Mta cement cement plant, plus 3Mta of additional clinker capacity, besides the existing integrated cement plant that the company operates in the area. The flagship associate company of Dalmia Cement Bharat Ltd, OCL India is now a step closer to achieve the final environmental clear...
Fauji Cement sees full-year profit halve to PRK2.61bn
Fauji Cement Co Ltd reported a 51 per cent drop in net profit after tax to PKR2.61bn (US$24.5m) in FY17 from PKR5.36bn in FY16. The Pakistani cement producer saw sales edge up to PKR 20.423bn from PKR 20.044bn in FY16. However, costs of sale also increased to PKR15.98bn from PKR10.87bn in previous fiscal year as a production halt in Line II led to the purchase of expensive clinker. The line...
PPC Zimbabwe's MD vows recent investments will come good
PPC Zimbabwe's Managing Director, Kelibone Masiyane, has spoken out on the long-term commitment to the local cement market and on its recent Harare and Colleen Bawn investments. PPC Zimbabwe has invested over US$120m in different projects in Zimbabwe since 2009 and is looking forward to do more, Mr Masiyane told NewsDay. "We have invested over US$120m [since 2009]. Recently, we just commi...