Cement News tagged: Corporate
Pakistan: Bestway Cement profit up 48% for 9MFY2016
Bestway Cement has announced after tax profits of PKR7.45bn (US$71m) in the nine month period to 31 March 2016, a 34 per cent increase YoY. Total sales rose to PKR24.42bn (US$233m) – an increase of 11 per cent YoY. Profits rose on the back of lower administrative and distribution costs, which fell by 2.4 per cent and 17.3 per cent respectively to PKR289m (US$2.8m) and PKR439m (US$4.2m). Fin...
Rep of Congo: Cimenterie de Lukala to close down
Cimenterie de Lukala (CILU), located in the Republic of Congo, will be closing down due to “the unfair competition it has faced since December 2015”, according to its CEO, Ola Ora. The factory had been running at capacity utilisation rates of below 50 per cent in recent times. The country’s government had allowed conditional imports of cement into the Republic of Congo. Domestic cement deman...
A change of strategy: Cemex to sell some US assets
Cemex, the Mexican giant of the cement world, announced this week that it intends to further reduce its exposure in the USA by selling US$400m worth of assets to a US subsidiary of fellow Mexican Grupo Cementos de Chihuahua. Is this part of a long-term plan to pull business out of the USA, to reduce debt or is Cemex reluctantly selling cement capacity in a country that the PCA has forecast wil...
KHD order intake delay will affect 1H16 forecast
After updating its annual budget, KHD Humboldt Wedag International AG (KHD) is adjusting its forecast for the 2016 financial year accordingly. The awarding of several significant projects, which were expected to be order intake in the first months of the FY16, has been postponed. As a result, these projects are now planned as order intake in the 2H16 in the updated forecast. Combined with...
India: Burnpur Cement to invest INR5bn in capacity expansion
Indian cement producer Burnpur Cement plans to invest INR5bn (US$75m) to expand its production capacity to 3Mta by 2020. "Presently, our installed capacity stands at 0.6Mta and we are planning to enhance the capacity to 3Mta in the coming 3-4 years," said the company's vice chairman and managing director, Ashok Gutgutia. Burnpur Cement currently operates two 0.3Mta plants – one in Asansol, W...
USA: Summit Materials enters Las Vegas market with acquisition
Summit Materials Inc has acquired Sierra Ready Mix LLC (Sierra), a vertically-integrated aggregates and ready-mix concrete business located in Las Vegas, Nevada. The acquisition provides Summit with premier, well-located assets in an expanding market. Sierra is a well-established aggregates and ready-mix concrete supplier in the Las Vegas market with an excellent reputation for quality and s...
Fancesa invites five overseas contracts to build new Sucre works
Bolivia’s Fábrica de Cemento Sucre SA (Fancesa) has invited five foreign equipment suppliers to take part in the bidding for the construction of its new plant in Sucre. “We have sent the invitations to European and Asian companies, in case of the Asian firms only to Japanese companies,” said Braulio Yucra, Fancesa director. Invited were Cemengal (Spain), FLSmidth (Denmark), Kawasaki (Japan),...
HeidelbergCement sees losses shrink in 1Q16
HeidelbergCement's cement sales volume rose five per cent YoY for the period from January to March 2016, reaching 17.6Mt for the quarter. According to results released by the company, sales of aggregates also rose, while ready-mix volumes were flat and those of asphalt were down by 12 per cent. Overall, revenue for the period was unchanged on the previous year at EUR2.83bn (US$3.26bn). Oper...
Cementos Portland reports EUR29.6m loss in 1Q16
Spain’s Cementos Portland reported a loss of EUR29.6m (US$34m) in the first quarter of 2016, 0.4 per cent less than in 1Q15 due to a recovery in sales and savings in energy costs, the company informed the stock exchange commission CNMV. Sales during the three-month period reached EUR129.8m, up 6.6 per cent thanks to improved performance in the USA, Tunisia and export markets. Volumes rose 1...
Holcim Philippines forecast flat net income
Holcim Philippines Inc delivered flat earnings in 1Q16 although the cement maker expects strong private construction activity and the implementation of the projects under the government's public-private partnership (PPP) programme to improve matters along with state spending on infrastructure later this year. In a briefing in Makati City yesterday, Holcim President and Country CEO, Eduardo A...
USA: Vulcan Materials sees 15.6% profit improvement
Vulcan Materials, the largest US aggregates producer, generated a first-quarter turnover 15.6 per cent higher at US$754.7m while EBITDA doubled (+100.3 per cent) to US$155.9m. At the trading level, the first-quarter profit went from US$10.8m to US$64.9m and the net interest charge in the period dropped by 46.1 per cent to US$33.7m, giving a swing at the pretax level from a loss of US$50.7m to ...
Oman Cement Co 1Q16 profits up
Oman Cement Company has reported a profit after tax of OMR3.84m (US$9.97m) during 1Q16 as compared to OMR3.83m in corresponding period last year - showing a minor growth of 0.28 per cent. The company recorded a total sale of OMR15.8m in the three months ended 31 March 2016 as compared to OMR14.68m in the corresponding period of previous year. Meanwhile, the company says its new cement mill cu...
Holcim Indonesia expects capacity up 12% in 2016
Following the acquisition of PT Lafarge Cement Indonesia, Holcim Indonesia increased its domestic production capacity by 1.6Mta to 15Mta, the company said in a statement. In addition, the cement producer’s 1.7Mta Tuban 2 cement plant is expected to be operational for its first full year in 2016 after coming online in August last year. Most of Holcim Indonesia’s production is sold in Wes...
Pakistan: Attock Cement receives PKR7bn to finance expansion
Attock Cement Pakistan Limited (ACPL) has achieved another milestone of success by signing financial close amounting to PKR7bn (US$66.85m) to part finance new production line of 4000tpd of cement plant. The loan has been arranged by local Punjab Bank with the support of MCB Bank, Allied Bank, Askari Bank and United Bank Ltd.
Cemex intends to reduce its US exposure to reduce debt
In a further effort to reduce its high gearing, which stood at 180.1 per cent at the end of March, Cemex has agreed to sell assets worth US$400m to a US subsidiary of the Mexican Grupo Cementos de Chihuahua. The deal includes two cement plants – a 0.76Mta integrated plant in Odessa, Texas and a 0.57Mta integrated plant in Lyons, Colorado – as well as three cement terminals and building m...
Spain: Cementos Molins 1Q16 profit up 1.7%
Cementos Molins posted profits of EUR15.36m for Jan-Mar 2016, up 1.7 per cent YoY. However, sales reached EUR130.69m, 10.2 per cent down when compared with 1Q15. The business result was impacted by a contraction in Spain and to some extent, the negative impact of foreign currency depreciation, especially in Argentina and Mexico. Nevertheless, the Argentinian and Mexican businesses led ...