Cement News tagged: Corporate
AfDB provides loan to Diamond Cement Guinée
The African Development Bank has granted a US$22.5m loan to Diamond Cement Guinéa to finance a clinker production unit. The new 0.5Mta plant will be built in Souguéta, some 200km from Conakry. Clinker from the works will be sent to grinding units in the outskirts of Conakry. According to the agreement, the new unit will help to "reduce the cost of cement production on the one hand and make...
FLSmidth receives cement plant order in Pakistan
FLSmidth has been awarded an order from Power Cement Ltd, part of the Arif Habib Group in Pakistan, for engineering, procurement and supply of equipment for a 7700tpd production line comprising two projects; clinker production and cement production and dispatch. The new production line will expand the two existing lines located in Nooriabad north-east of Karachi, Pakistan. The order includes ...
FANCESA Cal Orck’o works to start production mid-2019
Bolivia’s Fábrica Nacional de Cemento (FANCESA) will finish all earthmoving works on the site of its new cement plant in Cal Orck’o in two months’ time, according to the company. New equipment will start arriving in September with the line’s completion scheduled in 2019. The earth movement stage was expected to take only four months but for undisclosed reasons there has been a four-month l...
LafargeHolcim Guinée names Brice Houeto new Managing Director
Brice Houeto has been appointed as the new Managing Director of LafargeHolcim Guinée, effective 1 May 2017. He succeeds Luis Castillo Astruga and his appointment comes eight years after starting his employment with Lafarge. "I am delighted to join LafargeHolcim Guinea, a company with great potential. And I know that I can count on its staff as well as on all of our partners to consolida...
LafargeHolcim plant in Hungary wins gold World Prix d’Excellence
LafargeHolcim’s Kiralyegyhaza cement plant in Hungary has received the World Prix d’Excellence 2017 from the International Real Estate Federation (FIABCI). The plant was awarded the World Gold Winner prize in the industrial buildings category for its outstanding environmental performance and the high architectural quality of the plant buildings, LafargeHolcim said in a statement. The FIABCI re...
Prism Cement quarterly net profit falls
India-based Prism Cement’s net profit fell to INR701.5m (US$10.9m) versus INR756.1m a year earlier. Consensus forecast for March quarter profit was INR23.01m, according to Reuters. Total income for the three months to the end of March 2017 was INR15.76bn versus INR15.91bn a year ago. Prism cement manufactures PPC under the brand name 'Champion' and premium quality grade of cement under ...
Cimpor EBITDA recovers by 5%
Cimpor’s first quarter turnover eased by 0.3 per cent to EUR452.9m, while the EBITDA recovered by five per cent to EUR84.1m. The trading profit (EBIT) improved by 3.1 per cent to EUR36.7m. The net financial charge came down by 18.1 per cent to EUR62.1m to give a pre-tax loss of EUR25.4m, compared with EUR40.3m a year earlier. At the net attributable level there was a loss of EUR34.4m, comp...
Eagle Cement IPO oversubscribed
Eagle Cement Corp's Initial Public Offering (IPO) has been well received, with its initial public offering (IPO) oversubscribed by more than three times. Completing its offer on 22 May 2017, Eagle priced its IPO at PHP15 per share and sold 500m common shares by way of primary offer with an overallotment option of up to 75m secondary shares. Joint lead underwriters China Bank Capital Corp, ...
Christian Knell elected new president of VDZ
Christian Knell named new president of VDZ Christian Knell, general manager of HeidelbergCement in Germany, has been elected as the new president of VDZ. He succeeds long-standing president Gerhard Hirth who has been at the helm of VDZ for 12 years. Mr Knell has been vice president of VDZ since 2012 and has been working in the industry for more than 25 years. VDZ said the main dr...
Challenging outlook for Lafarge Malaysia
In the first three months of this year Lafarge Malaysia reported a net loss of MYR48.9m (US$11.4m) compared to a net profit of MYR20.6m for the same period a year ago due to lower operating profit and worsening pricing pressure. The group’s revenue decreased by 16.1 per cent to RM561.9m YoY. “This decrease was mainly attributable to the lower sales contribution from the cement segment due ...
Schuler to succeed Jenisch as CEO of Sika
Sika has appointed Paul Schuler, currently Regional Manager Europe Middle East Africa (EMEA), as Chief Executive Officer, effective 1 July 2017. He succeeds Jan Jenisch who has accepted to become the new CEO of LafargeHolcim. Mr Schuler has been with Sika for 29 years and has been a member of the Group Management since 2007. He served as Regional Manager North America from 2007 to 2012 an...
ACC considers Telangana plant construction
ACC Ltd is considering setting up a cement plant in the southern Indian state of Telangana, a senior official from the LafargeHolcim company told local press. Speaking to reporters from the Telangana Today, Philip Mathew, chief manufacturing officer of ACC, said: “We have recently set up one plant in Chhattisgarh and the effort is stabilising it. We hope to set up a similar plant here." Mr ...
LafargeHolcim names new CEO
LafargeHolcim announces the appointment of Jan Jenisch as CEO from 16 October 2017. Jan Jenisch joins from Swiss company Sika AG. Jan Jenisch (50) has been the CEO of Sika AG since January 2012. Under his leadership, Sika, which has a leading global position in the development and production of systems and products for the building materials and automotive sectors, has developed its busine...
UltraTech's purchase of Jaiprakash assets reportedly nears completion
UltraTech Cement cquisition of the cement business of Jaiprakash Associates is expected to be completed in the next few months, a top group executive said in an interview with local media. “The Jaiprakash Associates acquisition is on track and should get done sooner than later,” group chief financial officer Sushil Agarwal said. In July last year, UltraTech agreed to acquire Jaiprakash ...
Eagle Materials produces record results
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March 2017 improved by 11.7 per cent to US$1317.1m. Of this total turnover, the cement segment accounted for the largest share (41.8 per cent), followed by plasterboard (36 per cent), aggregates and concrete (11.6 per cent), plasterboard liner (eight per cent) and ...
Fitch affirms Elementia's IDR, Outlook Stable
Fitch Ratings has affirmed Mexico-based Elementia, Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+', as well as its long-term national scale rating at 'A+(mex)'. The Rating Outlook is Stable. "Elementia's ratings reflect its strong business profile characterised by geographic and product line diversification, leading market shares in copper and in several of its b...