Cement News tagged: Corporate
Zimbabwe: Sino Zimbabwe sales decline
Sales for Sino Zimbabwe Cement Company (SZCC) have declined by 15 per cent in the first quarter, in comparison with the same period last year. A further decline in sales this quarter has been projected by the company, which has cited a difficult operating environment and liquidity problems as some of the reasons for the decline. Wang Yong, SZCC managing director, said that the situation had...
Semen Indonesia to invest US$2.2bn over next five years
Semen Indonesia President Director, Rizkan Chandra, has announced that his company is to invest IDR30tn (US$2.2bn) over the next five years. The funding will be split between existing operations, entry into new markets and downstream acquisitions. According to reports on Deal Street Asia, Semen Indonesia is looking to acquire majority interests in ready-mix and precast businesses. The firm ...
Zimbabwe: Dangote investment
Nigerian billionaire Aliko Dangote has said he will not rescind on the decision to invest in Zimbabwe, despite negative reports concerning the country’s economy. Mr Dangote said in an interview that he currently has a team in Zimbabwe finalising logistics and making preparations to begin operations. His conglomerate intends to set up a cement manufacturing plant capable of producing 1.5Mt pe...
Bolivia: Yacuses expected to produce cement in December
Work on the 0.87Mta Yacuses cement plant, owned by Itacamba Cemento, in the Germán Busch province of Bolivia, 590km from Santa Cruz, has been completed by 70 per cent, according to the latest reports in the local press. First clinker is expected to be produced in November, with first cement leaving the production line in December. Equipment for the US$220m works was delivered by China-b...
Cementos Argos reports 1Q16 EBITDA up 38%
Cementos Argos reports that 1Q16 volumes across all regional divisions represent healthy dynamics in all the markets where the company is present, especially in the US, where cement dispatches increased 47 per cent. For the 1Q16, cement volume increased 6.4 per cent to 3.5Mt. Ready-mix sales reached 2.8Mm 3 , an increase of 10.5 per cent. “The obtained results augur us a good performance fo...
Negative order intake of EUR1.1m for KHD in 1Q16
Order intake in the first quarter of 2016 was negative at EUR-1.1m. This is due to the low level of new business (EUR12.8m), order cancellations and reductions (EUR-9.1m) the company stated as well as the effects of currency exchange rates on the order backlog. Some markets, where KHD is well-positioned will see continued growth. This includes in particular India, where cement demand is expe...
ThyssenKrupp Industrial Solutions set for 'planet' reorganisation
The Industrial Solutions business area, the engineering and construction arm of the thyssenkrupp Group, is being reorganised as part of the transformation programme “planets”. The aim is to secure growth, enhance performance, focus more strongly on customers, markets and high-margin service business, and drive culture change within the business area. The modern management structure will foc...
Titan 1Q16 results boosted by US growth
Titan Group posted robust growth in sales and operating performance in 1Q16, primarily on the back of the US market, as well as the improved operation of the plants in Egypt. Consolidated turnover reached EUR337.8m, posting a 19 per cent increase compared to the same period the previous year. EBITDA increased by 86 per cent reaching EUR43.3m. Net profit after minority interests and the pro...
Suez Cement hit by Egyptian pound devaluation
In its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects...
Quarterly results disappoint as LafargeHolcim struggles to consolidate
LafargeHolcim's results for the first quarter of 2016 have disappointed analysts as the company announced that EBITDA had fallen by 17 per cent on like-for-like terms compared to the same period in 2015. Despite volume sales of cement, aggregates and ready-mix all rising modestly, LafargeHolcim’s revenues were up just 0.1 per cent like-for-like. The firm cited "challenging" conditions in Ni...
LafargeHolcim: cement volumes up 1.4% but revenues flat
In its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as t...
Cementir's 1Q16 revenue falls 1.1% to EUR218.9m
Cementir has announced that its results for the 1Q16, despite being lower than the previous year, are in line with management expectations and show a strong performance of operations in the Scandinavian countries, Malaysia and Egypt, which more than offset the lower earnings in Turkey and the difficulties encountered in Italy and China. The performance for the quarter was adversely impacted by...
North America: fires at plant and quarry
On Tuesday fires broke out at both the Cemex Balcones Quarry, Texas, USA, and the Lehigh Hanson Materials cement plant in Edmonton, Alberta, Canada. Sara Bouffard, Cemex director of communications, said no one was hurt. The fire was ruled accidental and determined to have been caused by welding. Fire marshal Kory Klabunde said he was unsure how much damage the fire caused, but the investigati...
Nigeria: Ashaka building power plant
Management of Ashaka Cement Plc has concluded plans to build its own power plant due to concerns over an inadequate supply of electricity to power its operations. Alhaji Suleiman Yahyah, Ashaka Cement's chairman, has said that the project is expected to reach completion within three years and will contribute its excess power to the national grid. Mr Yahyah noted, “There will be diverse eff...
China: Asia Cement and CNBM halt Shanshui offer
Following nine months of consideration, Asia Cement and CNBM have said they will not proceed with plans to buy the shares they do not already own in Shanshui Cement. In a statement issued 10 May, the two companies, which combined own nearly 38 per cent stake in the Chinese cement maker, said they have concerns regarding the changes in Shanshui’s board, ongoing disputes and financial difficu...
Spain: Cementos Portland restructures debt
The refinancing of the EUR825m syndicated loan of cement producer Portland Valderrivas, a Fomento de Construcciones y Contratas (FCC) company, has been completed, reports Spacol. FCC, the Spanish civil engineering group and main shareholder in Portland, with an 80 per cent stake, offered a 10 per cent trimming to the loan, which matures in July 2016, but the offer was rejected by creditors. ...