Cement News tagged: Corporate
Sai Son Cement reverses losses, Vietnam
Vietnamese producer Sai Son Cement (SCJ) swung to a net profit of VND7.1bn (US$80,648) in the fourth quarter of 2013 after a net loss of VND2bn in the same period the year before. Revenue amounted to VND104bn (US$4.93m) in the final quarter of last year, compared to VND72bn over the same period of the previous year. For the full year, SCJ reported VND7.6bn net profit on revenue of VND320bn c...
Egyptian court accepts Assiut appeal
An Egyptian court has accepted an appeal by Assiut Cement, overruling a decision to annul an agreement under which Cemex acquired a controlling stake in the Egyptian unit. The case has now been referred to an administrative court, a Cemex official has said. In 1999, Cemex bought a controlling stake in Assiut Cement from Egypt’s state-owned Metallurgical Industries Holding Co as part of the g...
Bim Son Cement sales reach 3.9Mt in 2013
Vietnam-based producer Bim Son Cement JSC (BCC) sold 3.9Mt of cement and clinker in 2013, comprising 3.4Mt of cement and 588,000t of clinker. The company’s clinker output was more than 3.9Mt last year. Its revenue rose by 0.6 per cent YoY to VND3.8trn, the Dau Tu newspaper reported. For this year, Bim Son Cement targets output of more than 3Mta of clinker, while cement and clinker sales will...
UltraTech quarterly profit hit by subdued demand
UltraTech Cement, the leading cement producer in India, reported a 38.43 per cent decline in net profit for the last three months of 2013 as sluggish demand leads to a weaker pricing environment. Net profit during the October-December quarter fell to INR370 crore compared to INR601 crore in the same period of 2012. Net sales in the three month period also declined marginally to INR4786 cro...
Tabuk full-year net earnings decline, Saudi Arabia
Tabuk Cement' FY13 net earnings decreased 5.86 per cent in 2013 to SAR173.4m (US$46m) from SAR184.2m the year before. The Saudi-based producer said net earnings in the fourth quarter of 2013 also fell by 16.26 per cent YoY to SAR38.1m (US$10.2m) compared to SAR45.5m in the comparative period of 2012.
Jidong sees strong rise in 2013 net profit
Tangshan Jidong Cement Co Ltd expects net profit to be between CNY306m and CNY360m (US$50.6m-59.48m) in 2013, a YoY increase of 70 per cent to 100 per cent, the company said. The Hebei Province-based cement manufacturer attributes the profit growth to an improved reduction in production costs and increasing sales volume.
UK regulator demands domestic shake up
The structure and conduct of the UK cement sector restricts competition, costing consumers around GBP50m annually, and therefore requires decisive market intervention, according to the conclusions of the two-year investigation by the UK’s Competition Commission published this week. The investigation did not, however, identify any problems with the markets for aggregates or RMC. The Commissio...
Fitch Affirms Cementos Pacasmayo rating
Fitch has affirmed ratings of Peruvian cement producer Cementos Pacasmayo. The ratings Outlook is Stable. The following ratings have been affirmed: • Foreign currency Issuer Default Rating (IDR) at 'BBB-' • Local currency IDR at 'BBB-' • US$300m senior unsecured notes at 'BBB-'. Fitch said the ratings reflect the company's solid business position as the only cement producer in Peru's nort...
Yamama Cement net profit rises 6.4% YoY
Yamama Cement Co of Saudi Arabia said yesterday its net profit for 2013 rose by 6.4 per cent to SAR870m (US$232m), up from SAR818m a year ago. The increase was attributed to a rise in extraordinary gains from the sale of stakes in affiliate companies, Yamama Cement said without giving exact figures. The operating profit declined to SAR829m from SAR863m.
Conch expects strong rise in 2013 profit
Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013. In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19. According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to...
Semen Indonesia eyes further Asian expansion
Following the acquisition of a majority stake in Vietnam-based cement producer Thang Long Cement in 2012, Semen Indonesia is now setting its sights on expanding into Bangladesh as well as completing a deal in Myanmar this year. “We will probably acquire grinding mills in Bangladesh [...] but not this year,” Semen Indonesia corporate secretary Agung Wiharto told the Jakarta Post. Wiharto ...
Lafarge one step closer to completing US refocus
Lafarge announces the sale of five aggregates quarries and related assets in Maryland (USA) to Bluegrass Materials for a total enterprise value of US$320m. With these divestments, the group has now largely completed its strategy of refocusing on its core markets in the United States, the cement major said in a statement. Lafarge today operates a network of integrated positions mainly locate...
New member of FLSmidth Group Executive Management
FLSmidth announced that Eric Thomas Poupier has been appointed to a newly created position in Group Executive Management as Group Executive Vice President, Business Development and will take up his new position 15 January 2014. Eric Thomas Poupier, age 37, is a French citizen and has since 2011 been a Manager at Bain & Company in Stockholm managing projects for Nordic clients. From 2007 to 2...
Anhui Conch and Asia Cement sign strategic partnership deal
Anhui Conch and Taiwan producer Asia Cement have signed a strategic partnership to explore overseas markets and share expertise in environmentally-friendly technologies. The two companies are yet to divulge the details of their planned co-operation. However, it is understood they will explore opportunities in sharing green technologies, management expertise, market and product expansion and ...
Yamama posts preliminary 4Q13, full-year results, Saudi Arabia
Yamama Cement posted its preliminary 4Q and FY13 results, with net profit up 2.3 per cent to SAR870m. The results were one per cent below estimates by NBK Capital but in line with a Bloomberg consensus of SAR867m, NBK Capital said in a descent report. "This implies a net profit for 4Q2013 of SAR178m, slightly below our forecast of SAR186m." According to NBK Capital, Yamama published a 4Q...
Credit Suisse acquires shares in China Shanshui
Credit Suisse Group AG acquired 10.47m shares in China Shanshui Cement Group Ltd for a total of HK$34.93m on 31 December 2013, according to the Hong Kong Stock Exchange. Since the purchase, Credit Suisse holds 141.13m shares (a 5.01 per cent stake) in Shanshui Cement. The Shandong Province-based company is engaged in limestone mining and the manufacture of cement and cement clinker.