Cement News tagged: Corporate
China: Taiwan Cement plans price increase
Taiwan Cement announced that it will be increasing its prices of cement products in China by as much as seven per cent by the end of the year as a response to recovering demand in the country. Edward Huang, Taiwan Cement's senior vice president, said, "We are planning to increase cement prices in southern China by [US$2.97] per tonne." Mr Huang went on to say that infrastructure spending...
Hail Cement sees 15.3% rise in net profit for 3Q16
Hail Cement posted a 15.27 per cent increase in net profit for the 3Q16, according to a bourse filing. The cement company reported a net profit of SAR20.12m (US$5.4m) from SAR17.45m in 3Q15, which was attributed to unrealised investment loss recognised during the same quarter last year. In the first nine months of 2016, net profits slipped 3.3 per cent YoY to SAR80.85m from SAR83.59m. The lo...
Uzbekistan: Ahangarancement JSC raises output by 6% in 9M16
Between January-September 2016 Ahangarancement JSC, the second-largest cement producer in Uzbekistan, increased cement production by six per cent to 1.418Mt, as compared to the same period of last year. The cement producer, which runs a 1.986Mta plant in Ahagaran, Tashkent, saw clinker production for the first nine months of 2016 rise by 3.8 per cent to 1.015Mt. In total, the company supplie...
USA: Elementia intends to buy 55% of Giant Cement
Elementia of Mexico, 49 per cent owned by billionaire Carlos Slim, said it had signed a letter of intent to purchase 55 per cent of Giant Cement Holdings Inc, a wholly-owned unit of Cementos Portland Valderrivas of Spain. Currently, Giant has an accumulated debt of approximately EUR437m in a securitised bond issue, says dirigentesdigital. At the same time, Cementos Portland has signed a lo...
Oman: Raysut Cement 3Q profit falls 23%
Raysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015.
India: OCL in talks to buy Shiva Cement's Orissa plant
Shiva Cement is in talks with OCL India among others to sell its integrated cement plant in Orissa, according to the Financial Express. Shiva Cement shares surged as much as 15.68 per cent and hit their fresh 52-week high in morning trade. For the quarter ended 30 June 2016, the company registered a net loss of INR1390m (US$20.7m) against net profit of INR0.430m in the corresponding quar...
Mexico's GCC sees 32% hike in EBITDA in 3Q16
Grupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in ...
Qatar National Cement Company profits flat for 9M2016
The Qatar National Cement Company (QNCC) has released its earning statement for the first nine months of 2016, showing that revenues and profits have changed little from the corresponding period in 2015. Profits at QNCC were down one per cent to QAR355m (US$97.6m), while revenues also fell slightly, being down 0.9 per cent to QAR839m. Taken together with previous three-monthly earnings s...
India: Sagar Cement reviews expansion plans
Sagar Cement is reportedly convening a meeting of its Board of Directors on 19 October. The meeting will address proposals for setting up a coal-based power plant at the company’s unit in Mattampally, Nalgonda district, and the capacity expansion of the grinding unit in Bayyavaram, Visakhapatnam district. The capacities for the two plants in question were not disclosed in the company’s stateme...
Cemex expects to complete Tepeaca expansion in 2018
Cemex announced the expansion of its Tepeaca plant in Puebla, Mexico, to conclude in 2018. The plant will see the construction of a new kiln to take its production capacity to 7.6Mta. The project was started in December 2014 and represents an investment of US$642m, including fixed asset additions of US$442m incurred at the end of 2015. The expansion will generated 1500 jobs during const...
Hima Cement positive for growth prospects in Uganda
Uganda's Hima Cement expects the country's cement market to show significant growth going forward. Daniel Pettersson, Hima Cement Ltd country CEO, said, "We are very positive about the long-term prospects of the cement industry in Uganda, and LafargeHolcim is keen to solidify its position in the region as the leading producer of building solutions providing its customers with innovative val...
Pakistan: Flying Cement profits up 24%
Pakistan's Flying Cement Co Ltd has reported that it earned profit after tax of PKR145.69m (US$1.38m) in FY16, up by 24 per cent from last year. The cement producer does not announce any cash dividend, according to a company notice to Pakistan Stock Exchange. Company sales increased to PKR2.47bn in FY16 from PKR2.22bn in FY15. Flying Cement has incurred a distribution cost of PKR5.1m and adm...
Semen Indonesia to continue Rembang construction
Despite the decision of Indonesia’s Supreme Court to cancel an environmental permit for Semen Indonesia's Rembang plant, the cement producer will continue the construction of the works. Semen Indonesia's Corporate Secretary, Agung Wiharto, said: "As a publicly-listed state owned company, the management will comply with the legally-binding court decision ...(but,) until we receive the offici...
USA: centenary up for Victorville plant
Cemex Victorville has been celebrating its 100th-year anniversary in producing cement in the Victor Valley for customers in California and western USA. The plant, which opened its doors on Labor Day in 1916, was recognised by the San Bernardino County Board of Supervisors for the company's contributions as "a cornerstone" of the local economy and a community partner. "Cemex has been a tremen...
Oman Cement profit surges 39%
Oman Cement Co announced that it has achieved a 38.78 per cent growth in net profit, reaching OMR9.68m (US$25.14m) for 9M16, compared to OMR6.98m for the same period a year earlier. Revenue also grew by 12.45 per cent to OMR43.75m for the period, up from OMR38.9m the previous year. Total expenses increased 5.93 per cent from OMR31.02m to OMR32.86m and sales income grew 12.18 per cent to OMR...
India: Orient Cement will increase debt with acquisition
The interest burden of Orient Cement is expected to increase following the acquisition of the cement assets of Jaiprakash Associates, valued at INR19.5bn (US$291.48m). The acquisition will, however, help the company's geographical diversification, reports the Economic Times. Orient Cement acquired Jaiprakash Associates' 2.1Mta cement plant at Bhilai and 2Mta grinding unit at Nigri. The enter...