Cement News tagged: Corporate
Tanzania: Lake Cement hopes to start construction of Bagamoyo plant soon
A senior official at Lake Cement Ltd has confirmed that the company still plans to establish a US$150m cement plant in Chalinxe-Tarwanda, Bagamoyo, Tanzania. Plans were originally anounced back in November 2016, when it was said that construction would start in mid-2017. Afroz Ansari, Lake Cement's asscoiate vice president, said: "The plan hasn't changed. The planned plant in Bagamoyo will ...
Egypt: Sinai Cement reports FY16 EGP14.6m net profit
Sinai Cement reported a consolidated net profit of EGP14.6m (US$901,243) for FY16, a significant improvement when compared with the previous year when the company posted a net loss of EGP38.9m. Consolidated net sales were up from EGP975m in FY15 to EGP1.3bn one year later.
National Railways of Zimbabwe benefits from PPC business
PPC’s new Msasa plant in Harare, Zimbabwe, has enabled National Railways of Zimbabwe (NRZ) to move 1Mt of freight between October 2016 and February this year, following the purchase of 31 wagons from China. Last November, PPC Cement commissioned a US$85m plant in Harare that produces 0.7Mta of cement but engaged the NRZ to move clinker from its Colleen Bawn plant, near Gwanda, to the Msasa o...
Indonesia: PT Semen Padang secures coal supply
PT Semen Padang has signed a purchase order with BlackGold Natural Resources Ltd's subsidiary PT Samantaka Batubara, to the value of US$12.6m to supply coal to the cement producer. PT Samantaka Batubara expects to complete the order within the next 11 months for Cement Padang, a state-owned company and a subsidiary of PT Semen Indonesia (Persero) Tbk. Mr Philip Rickard, CEO of the BlackGol...
Pakistan: Power Cement reports 20% fall in profit after tax
Pakistan’s Power Cement Ltd reported a decline of 20 per cent in its profit after tax to PKR242m in 1HFY17. The company’s sales rose 25 per cent to PKR2.06bn during this period against PKR1.64bn in the equivalent period of the previous year, according to the firm’s filing with the Pakistan Stock Exchange. The company incurred a distribution cost of PKR54m and administrative expenses of PKR...
USA: Summit cement profits rise 45% on back of higher volumes and prices
In a trading statement for 2016, Summit Materials has announced that profits at its cement business rose by 45.1 per cent YoY, with volumes rising by 37 per cent and prices increasing by 7.5 per cent. Summit’s cement segment produced revenues of US$250m in 2016, with profits reaching US$127m in the same period. The business produced 2.14Mt of cement over the year, of which 0.6Mt was produce...
South Korea: Sungshin Cement back in the black in 2016
South Korean cement producer Sungshin Cement Co Ltd improved its revenues by 1.2 per cent to KRW686.6bn in 2016 from KRW678.7bn, according to the country’s Financial Supervisory Service. The company’s operating profit rose from KRW35.26bn to KRW36.83bn while in terms of net profit, the firm swung from a KRW33.99bn loss to a net profit of KRW12.4bn, according to preliminary and unaudited res...
Holcim to invest EUR900,000+ in Carboneras in 2017
Holcim has earmarked EUR900,000 to carry out a series of capex projects in 2017 at its Carboneras plant in Spain. Projects will include a system for collecting and treating rainwater and improve the roofing on some material storage areas. In 2016 the Carboneras works has invested more than EUR120,000 in various initiative to reduce its environmental impact and in best-available practice tec...
Brazil: Votorantim/ArcelorMittal to combine steel businesses
ArcelorMittal Brasil SA and Votorantim SA announced the signing of a definitive agreement, which will see Votorantim's long steel businesses in Brazil, Votorantim Siderurgia, become a subsidiary of ArcelorMittal Brasil. Votorantim will hold a minority stake in ArcelorMittal Brasil. Votorantim's long steel operations in Argentina (Acerbrag) and Colombia (PazdelRío) were not included in the tran...
ARM cement plans Kenya capacity boost
Kenya's ARM Cement plans to expand its grinding capacity at its Athi River plant in Kenya to add 0.5Mta of cement to the company's production. "We are completing a grinding plant expansion in Athi River which will give us an additional 500,000 tonnes of cement in the next 12 to 14 months," ARM’s Managing Director, Pradeep Paunrana said. While he did not disclose the value of the project he ...
Mexico: Elementia 4Q16 and 12M16 results
Elementia announced its financial and operating results for the 4Q16 and 12-month period ended 31 December 2016 with net sales increasing by 36 per cent in 4Q16 and 12 per cent in 12M16, reaching US$5.45bn and US$19.09bn, respectively. Company EBITDA rose 48 per cent in 4Q16 and by 20 per cent in 12M16, reaching US$986m and US$3.59bn, respectively. During the 4Q16, the Mexico cement divisi...
Pakistan: Kohat Cement earnings up 4% YoY
Kohat Cement reported earnings of PKR2.2bn (US$20.98m) in 1HFY17 compared to PKR2.1bn reported in the same period last year, up four per cent YoY. The result accompanied a second interim cash dividend of PKR8/share, taking cumulative 1HFY17 payout to PKR12/share. The company's total sale of cement stood at 1.06Mt compared to 1.03Mt in the first six months of the last financial year. Koh...
Pakistan: Bestway Cement to acquire Dewan Cement
Dewan Cement Ltd and Bestway Cement Ltd have both separately informed the Pakistan Stock Exchange (PSX) that they are signing a memorandum of understanding (MoU), wherein Bestway will acquire Dewan Cement, subject to approval by concerned authorities. Previously, three local cement companies and a Chinese company expressed their intention to acquire stakes in Dewan Cement. The Bestway C...
Peru: Cementos Yura Q4 profit falls by 20%
Cementos Yura has announced that its profits for4Q16 were down by 20.1 per cent YoY to PEN40.2m (US$12.4m), reports Business News Americas. The firm saw sales revenues fall by 3.3 per cent, while administrative costs more than doubled as the firm paid a PEN25.7m penalty for cancelling a contract with a supplier. Cementos Yura was also negatively affected by foreign exchange fluctuations. ...
Lucky Cement: Karachi expansion scheduled for end-2017
Lucky Cement Ltd is currently undergoing a series of investments in capex projects. Its 1.25Mta Karachi plant expansion poject is scheduled to be operational by the end of 2017, while the company is still in the process of seeking approvals and necessary authorisations for a 2.3Mta greenfield integrated cement plant in Punjab province. Company officials hope that construction at the Punjab si...
Oman Cement annual profit up 10% as production rises
Oman Cement has announced that its profits rose by 10 per cent in 2016, to OMR12.87m (US$33.4m). In an earnings statement to the Muscat Securities Market, Oman Cement said that sales revenues rose by 8.5 per cent, but better control of costs produced a greater rise in profitability. The company sold 2.3Mt of cement in 2016, a 10.7 per cent increase on the previous year, which given the s...