Cement News tagged: Corporate
Adelaide Brighton eyes additional assets
Australia's surging property market and healthy infrastructure projections is encouraging Adelaide Brighton to look out for further acquisitions. "From a demand point of view on the east coast, it’s hard to be pessimistic. The only way to put it is it’s very strong," Adelaide Brighton chief executive, Martin Brydon, told The Australian. The Melbourne residential market has also shown strong...
PPC 1Q17 results in line with expectations
PPC revenue for the period ended 30 June 2017 (1Q17) is ahead YoY while group EBITDA is in line with the year-ago period. The advance has been attributed to good cost management. Johan Claassen, interim CEO, said: "Our focus is firmly on delivering improved profitability and liquidity in the shorter term while our longer term strategy remains unchanged. More specifically, we will focus our ...
Dongwu Cement posts 31% advance in turnover
China-based Dongwu Cement International Ltd reported a turnover of CNY136.863m (US$20.4m) for the six months ending 30 June 2017, up 30.7 per cent from CNY104.7m in 1H16, according to its report to the Hong Kong Stock Exchange. Total profit for the period reached CNY7726m, a significant improvement on the year-ago figure of CNY-4.301m. The 1H17 improvements were attributed to increased sal...
Eurocement holds tender applications for 2.4Mta plant in Uzbekistan
Eurocement Group is currently holding a tender for a general contractor to build a new cement plant in the Angren Free Economic Zone in Uzbekistan, the Jahon information agency reports. The project plans the construction of a new dry-process plant with a capacity of 6200tpd of clinker or 2.4Mta of cement. It will save 35-45 per cent on the plant's natural gas usage and the plans are to start...
Udayapur Cement Industry dismisses 82 staff
Udayapur Cement Industry of Nepal has fired 82 members of staff who had been repeatedly warned for their below par performance. The staff included drivers, officers and engineers. Administration Department head of UCI Ram Bahadur GC said the staffers were fired as they failed to discharge their duties. He claimed that the staffers were relieved of their duties also after consulting with tr...
Ohorongo opens Ondangwa depot
Namibian cement producer Ohorongo Cement was host to Clemens Kashuupulwa, governor of the Oshana region, who opened the company’s new cement depot in Ondangwa. The land is owned by TransNamib and the cement company will use the Tsumeb Ondangwa railway for the first time since it was built, according to the Namibia Economist, who hails the project as the first real public private partnership...
Hanson Cement seeks early approval for mill installation
Hanson Cement (HeildebergCement group) could start work this year on a GBP20m investment in a new giant mill that will secure nearly 100 jobs, reports Daily Post. The company is upgrading its Padeswood cement plant in Flintshire to guarantee its long-term future of the plant. The plan is to mothball three of the old mills and install a new vertical roller mill capable of grinding up to 650,0...
Ash Grove names J Randall Vance President and CEO
Ash Grove Cement has appointed J Randall Vance as CEO and President. Charles Sunderland, chairman and chief executive officer and part of the fourth generation of Sunderland family members to lead the majority family-owned business, will remain chairman of the board. “Randy has demonstrated effective leadership for Ash Grove's largest business of portland cement and has embraced our unique,...
Former Western Cement owners lose damages case
David Wong Ken and his partners have lost their case against former public officials and the National Investment Bank of Jamaica (NIBJ), which they accused of conspiring to ruin Western Cement Company to aid rival firms, to which they were connected, to control the market for domestic quicklime. Western Cement had sought damages for economic loss, but the Court of Appeal at the end of July u...
West China Cement sees improved operating environment
West China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017...
Challenging year for YTL's cement division
FY17 is proving to be a challenging year for YTL Corp’s cement business due to overcapacity and weak demand from the property segment, according to a report by Affin Hwang Investment Bank Research published in the The Edge Financial Daily. "Although we are expecting a higher demand from infrastructure and property in FY18, we believe the incremental demand is not sufficient to absorb the ove...
Argos sells stake in port company
Grupo Argos has sold its 50 per cent stake in a port operator to an investment fund managed by Goldman Sachs for about US$136m, Grupo Argos said in a statement on Monday. Compania de Puertos Asociados SA, called Compas, moves principally coal and cement through its ports in the Andean country. Argos' stake was sold to West Street Infrastructure Partners III, which is run by Goldman Sachs, f...
Polpaico appoints Marcos Büchi as new President
Marcos Büchi has been appointed as company president by Chile-based Cemento Polpaico as a result of the restructuring of its management. Javier Moreno is the cement producer’s general manager. This follows a successful acquisition by the Hurtado Vicuña family’s Inversiones Caburga, which acquired a 54.3 per cent stake from LafargeHolcim in the last quarter of 2016.
KHD reports considerable rise in 1H order intake
KHD reported an increase in order intake to EUR79.3m in the first half of 2017, considerably higher than the EUR19.3m in the same period of last year. The company’s order backlog increased for the first time since the 2012 financial year. Revenue in the first half fell by 26.9 per cent to EUR48.7m due to the low order intake at the beginning of the financial year. Significant contributions t...
Suez Cement reports 2Q loss
Egypt-based Suez Cement reported losses during the second quarter of 2017 YoY, according to a bourse filing on Monday. Losses amounted to EGP82.15m (US$4.6m) in 2Q17, versus profits of EGP49.43m in 2Q16. The cost of sales rose to EGP1.48bn in 2Q17, compared to EGP1.19bn YoY. In the first half of 2017, consolidated losses reached EGP40.61m, versus profits of EGP53.76m in 1H16, taking ...
Magnesita's first-half revenue rises 14%
Magnesita Refratários SA, a global leader in refractory solutions and industrial minerals, recorded consolidated net revenue of US$552m in the first half of 2017, representing a 14 per cent YoY increase over the comparative period of 2016. Adjusted EBITDA reached US$91m in the 1H17, up by 13 per cent over 1H16, with a 16.5 per cent margin in the period. The performance was mainly driven by ...