Cement News tagged: Corporate
Ashaka Cement 1Q14 profit after tax rise 69%
Ashaka Cement's 1Q 2014 results showed that profit before tax and profit after tax grew strongly by 74 and 69 per cent to NGN2.8bn (US$17.5m) and NGN1.9bn, respectively when compared to 1Q13, according to Nigerian Stock Exchange data. Sales were up by eight per cent to NGN6.5bn.
India: Ramco Cements to improve limestone quarrying efficiency
Ramco Cements has commissioned two limestone beneficiation plants to improve efficiency in cement production and extend the life of its limestone quarries. The 200tph beneficiation plant at Alathiyur will upgrade limestone raw mineral to enable its use in cement production. The INR370m (US$6.2m) project was followed by the start of a second such facility at its Madurai cement factory. Li...
Senj Sant to receive US$65m EBRD loan for Mongolia plant
Mongolia’s Senj Sant is building a greenfield cement plant in southern Mongolia to meet the growth in demand generated by the country’s rapidly-expanding economy. Part of a May 2013 financing package, the project has now received further financing by the European Bank for Reconstruction and Development (EBRD), which is extending a US$65m loan to the company. The package included a US$20m eq...
New chairperson for Lafarge South Africa
After two terms in office, Nonkqubela Mazwai has stepped down as chairperson of Lafarge South Africa and handed the reins over to Thandi Orleyn, previously a non-executive director of Lafarge Mining South Africa and Lafarge Industries South Africa. Mazwai joined the Lafarge South Africa board on 15 February 2007. Speaking of her leadership contribution to the transformation of the company an...
Alfonso Gallardo Group sells cement business
Alfonso Gallardo Group is to sell its cement and paper business to focus on the iron and steel sector to ensure its viability, according to a statement by the group. The company signed a refinancing agreement with the majority creditor banks and venture capital firm Kohlberg Kravis Roberts (KKR). The group will divest from Cementos Balboa, located in Alconera (Badajoz), as well as Papresa in ...
Cemex increases first-quarter volumes
Cemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in ...
Expressions of interest for Lafarge Pakistan acquisition
Two parties have officially expressed an interest in acquiring control of Lafarge Pakistan Cement, according to local press reports. Sofima SAS, a fully-held direct subsidiary of Lafarge SA, is divesting 100 per cent shares of its shares in Lafarge Pakistan Cement. DG Khan Cement (DGKC) informed all three stock exchanges and the Securities and Exchange Commission of Pakistan that it ...
Xinjiang Tianshan floats CNY500m bills in April
Xinjiang Tianshan Cement Co Ltd issued CNY500m (US$80m) worth of financial bills on 29 April 2014 with a maturity of 365 days and a coupon rate of 5.97 per cent, according to a recent company announcement. The northwest China-based cement manufacturer intends to spend CNY200m worth of proceeds from the issuance to repay bank loans and use the remaining CNY300m to replenish working capital.
Orient Cement net profit falls 27%, India
Orient Cement Ltd on Wednesday announced it has reported a decline of 27.06 per cent in its net profits for the fourth quarter ended March 2014. “The net profit of the company stood at Rs 36.12 crore during the same period a year ago,” said Orient Cement in a filing to the Bombay Stock Exchange. Total income of the company decrease by 2.07 per cent to INR402.43 crore during final quarter of ...
Heidelberg 125th anniversary of stock exchange listing
Left: Dr. Bernd Scheifele, Chairman of the Managing Board, HeidelbergCement AG right: Hauke Stars, member of the Managing Board, Deutsche Börse AG Source: HeidelbergCement On the 125th anniversary of HeidelbergCement’s listing on the stock exchange, Dr Bernd Scheifele, Chairman of the Managing Board, started the floor trading at the Frankfurt Stock Exchange on 30 April 20...
OCC quarterly profit affected by lower output
Oman Cement Co (OCC) reported a 47 per cent decline in net profit to OMR3.70m (US$9.61m) for the first three months of the year as a planned kiln shut down for expansion works affects production and lowers profitability. OCC, Oman's second-largest cement producer, has embarked upon a capacity upgrade project for one of its kilns which, upon completion will increase output by 2700tpd. “Sin...
Shree first quarter net profit down 19% YoY, India
India-based producer Shree Cement reported a 19 per cent dip in net profit for the January-March quarter despite higher sales. The company, which has over 13Mta of capacity, reported net profit of INR222.50 crore during the first three months of this year compared to INR274.09 crore in the corresponding quarter of FY13. Total income grew to INR1665 crore from INR1443 crore on higher revenu...
Lafarge Wapco first-quarter pretax profit up 20%
Lafarge Wapco said on Monday its first-quarter pretax profit rose to NGN8.62bn (US$54m), up 20 per cent from NGN7.20bn in the same period of last year. Turnover at the Nigerian unit of France’s Lafarge, rose to NGN27.03bn during the three months to March, against NGN23.23bn a year earlier, it said in a filing with Nigerian Stock Exchange.
Egypt: ACC set for IPO
Egypt-based producer Arabian Cement Company has set an indicative price range for its planned stock market listing at between EGP8.45 and EGP9.55 (US$1.37), with trading to begin on or around 21 May 2014, Chief Executive Jose Maria Magrina said on Monday. The deadline for buying orders will be on 8 May 2014 for private placement and 13 May for retail investors. The price of the initial public...
Holcim strong start in Europe
Holcim's first quarter turnover declined by 5.4 per cent to CHF4088m (EUR3342m), but on a like-for-lake basis, there was a 7.8 per cent increase and measured in euros the turnover, was off by five per cent. The operating EBITDA declined by 5.1 per cent to CHF617m (EUR504m), which represents an underlying increase of 10.1 per cent. The trading profit increased by 9.3 per cent to CHF295m (EU...
Solid first quarter for Cementos Argos
Cementos Argos posted first-quarter net income of US$39m, up 51.7 per cent compared to the first quarter 2013. The company attributed the increase in net income in part to the inclusion of the results from a recently acquired operation in Honduras, as well as 24 days of results from new assets in Florida, company representatives explained during an investor's conference call. “The signifi...