Cement News tagged: Corporate
Cimpor's 1H cement sales rise, but volumes drop
Cimpor's first-half turnover increased a 4.8 per cent to EUR1302.8m, while EBITDA declined by 3.3 per cent to EUR279.2m. The amortisation and provision increased by 10.1 per cent to EUR100.6m and the trading profit declined by 9.5 to EUR178.6m and after a 5.5 per cent decline in the net financial charge to EUR166.8m led to a pre-tax profit of a 43.4 per cent to EUR11.8m. After a 32.2 per ce...
Sumitomo Osaka Cement reports strong quarterly rise
Japan's Sumitomo Osaka Cement Co Ltd reported a 26.8 per cent YoY rise in operating profit to JPY4.43bn (US$35.7m) over the April-June quarter. Sales during the period climbed to JPY56.78bn, up six per cent over the same quarter of last year. Earnings per share rose to JPY7.68, up from last year's JPY5.69 for the same quarter. The cement producer has announced it is to raise capacity ...
GCC sees higher volumes and bettter pricing
Grupo Cementos de Chihuahua (GCC) reported a 19 per cent rise YoY in second-quarter net sales to MXP3051m (US$186m) on the back of higher volumes and a better pricing environment both in its Mexican and US markets. In the US, sales rose by 19.6 per cent in the quarter, totalling MXP2190.3m. This reflected the two per cent rise in cement sales driven by deliveries in Minnesota, Texas, Iowa a...
Paraguay: cement price predicted to fall 15% in 2016
Following the fuel conversion at Industria Nacional de Cemento’s Villeta plant in Paraguay, its CEO, Jorge Méndez, said he expects up to a 15 per cent drop in the price of cement in 2016. The fuel project will enable the works to be fired with alternative fuels including vegetable oil and forest waste as well as oil and petcoke. This is expected to lower fuel costs by US$22m. Mr Méndez a...
Cherat Cement FY14-15 profit dips two per cent
Cherat Cement Co Ltd reported a profit after tax of PKR1.288bn (US$12.6m) during FY14-15, down two per cent from a year earlier, the company said in a notice to the Karachi Stock Exchange. According to a report by Al Habib Capital Markets, during the year the privately-owned cement producer reported a modest two per cent YoY rise in its top line. A decline in dispatches (particularly expor...
West China Cement first-half profit plummets
West China Cement Ltd’s net profit slumped 99 per cent in the first half as China's economic slowdown took a toll on cement consumption. The company said first-half net profit fell to CNY2.4m (US$375,120), down from CNY160.2m a year earlier. Its revenue fell 15.4 per cent to CNY1.69bn from HK$2.00bn a year earlier.
Nigeria: CCNN full-year profit rises 23.1%
The Cement Company of Northern Nigeria (CCNN), part of BUA Group, has declared a post-tax profit of US$9.64m for the 2014 financial year, increasing by 23.1 per cent YoY. CCNN chairman, Abdulsamad Rabiu, said that despite lower cement sales recorded in the last quarter of 2014 mainly due to pockets of unrest in CCNN's business markets, the company's focus on efficiency and strategic investme...
Fosroc reaches agreement to acquire majority shareholding in Idea Kimya, Turkey
Fosroc, the international construction chemicals group, said it has reached an agreement to acquire a "substantial majority shareholding" in Turkish cement additives company Idea Kimya, subject to regulatory approval. Commenting on the deal, Dr Andre Ladurelli, CEO of Fosroc, said: “Our strategy is to continue achieving double-digit organic growth in existing businesses and enter new terri...
LH to sell two eastern Indian plants to Birla Corp
LafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolc...
Shanshui Cement issues first-half profit warning, China
Shanshui Cement on Friday said it expects to record a loss in net profit for the six months ended 30 June 2015 compared to the net profit of the same corresponding period in 2014, adding that the loss is expected to be "relatively significant." Management attributes the loss to two main factors. Firstly, the group has seen sluggish cement demand in the regions where it operates, particular...
Pakistan: Attock full-year profit rises
Attock Cement reported an after-tax profit of PKR2.21bn (US$21.7m) in FY14-15, up 9.5 per cent compared to PKR2bn in the last fiscal year. Revenues climbed 4.3 per cent to PKR13bn during the review period compared to PKR12.5bn, AKD Research said in its report. The company’s gross margins, which improved by 407 basis points to 33.6 per cent in FY15, also contributed to the net earnings, the r...
Vietnam: Thang Cement project wins funding
JSC Bank for Investment and Development of Vietnam (BIDV) and North Asia Commercial Joint Stock Bank (Bac A Bank) will lend a combined VND3.15trn (US$143.5m) to construction a new cement plant in the central province of Nghe An. Tan Thang cement plant, in Qunh Luu district, is a project with a total investment of VND4.54trn. It will have a capacity of 5000tpd of clinker or 1.98Mta of cement...
Pakistan: Attock Cement plans 3300tpd plant
Attock Cement Ltd has planned an estimated capital outlay of US$120m to install a new plant with a clinker production capacity of 3300tpd, securities analyst Sajjad Hussain at BMA Capital said. Currently the company has a cash and short-term investment reserves of PKR3.8bn. The location of the new plant will be next to the existing Hub Chowki plant site in Lasbella, Baluchistan, in the west...
Buzzi Cement see stock market gains of 5%
Buzzi Unicem was the best performer of the FTSE MIB blue-chip index of the Milan Stock Exchange yesterday, trading at more than five per cent higher at EUR16/share, which is the highest price since June 2008. The rise was stimulated by Exane BNP Paribas, which raised the share price target of Buzzi Unicem to EUR21.50, keeping the "outperform" recommendation. The analysts made the reco...
Asia Cement still chasing full control of Shanshui Cement
Asia Cement plans to raise convertible debt to gain full control of China Shanshui Cement. In a filing to the Taiwan Stock Exchange, the group said it hopes to raise US$400m from a zero-coupon issue, its first equity-linked deal in just over two years. This will fund its proposed takeover of Shanshui in which it owns a 20.9 per cent stake. On Wednesday Asia Cement and state-owned China Nation...
Bangladesh: Lafarge Surma signs deal with real estate company
Lafarge Surma Cement Ltd (LSC) has signed a Memorandum of Understanding (MoU) with Building Technology & Ideas Ltd (BTI), one of the leading real estate companies of Bangladesh. Under the agreement, BTI will use Supercrete cement in all its construction projects. Masud Khan, finance director of Lafarge Surma Cement Ltd, and Md Sharifur Rahman, executive director, Construction of BTI signed ...