Cement News tagged under: Asia
Cementir bets on US for 2018-20 revenue targets29 June 2018, Published under Cement NewsCementir will seek long-term value creation by doubling earnings per share by 2020 compared to 2017, announced Francesco Caltagirone, chairman and CEO of the Italian cement producer this week at the company's investor conference in Milan' According to the group's ambitious 2018-2020 business plan, the company is targeting revenues and EBITDA of EUR1.34bn and EUR270m, respectively, by 2020, while net debt is forecast to fall to EUR50m at the end of the period. The USA is seen as the main g... |
Attock Cement reports flat 4Q earnings, full-year rise13 September 2017, Published under Cement NewsPakistan cement producer Attock Cement posted flat net earnings in 4QFY17 of PKR796m (US$7.5m) against the same period of last year, the company said in a note to the Pakistan Stock Exchange. The result took full-year earnings in fiscal 2016-17 to PKR3.303bn, up five per cent YoY versus PKR2.89bn in the previous fiscal. Revenue in FY17 rose by six per cent YoY to PKR14.7bn thanks to a rise in cement dispatches to 2.08Mt. However, margins remained stagnant at 40 per cent as coal pri... |
Kohat seeks environmental clearance for expansion project29 August 2017, Published under Cement NewsKohat Cement Company is seeking environmental clearance for the construction of 7800tpd in additional capacity at its plant in Kohat, northern Pakistan. The Environmental Protection Agency (EPA) of Khyber Pakhtunkhwa province has received the application from Kohat Cement, according to local sources. Comments in favour or against the environmental approval of the said project are invited to be submitted to the EPA's director general within a period of 30 days from the date of issuance of... |
West China Cement sees improved operating environment17 August 2017, Published under Cement NewsWest China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s... |
Ramco Cements to increase grinding capacity08 August 2017, Published under Cement NewsIndia-based Ramco Cements has embarked on an investment project to increase its grinding capacity in West Bengal and set up a new facility in Odisha. “We are doubling the capacity of grinding units in Vizag and Kolaghat (West Bengal) from 0.9Mta to 2Mta each, AV Dharmakrishnan, CEO, Ramco Cements told the business section of the Hindu (India). “Besides, we are setting up a new unit in Odisha of 0.9Mta,” he added. The proposed expansion will be completed in 18 months and the cost will me... |
Pakistan achieves monthly sales high08 August 2017, Published under Cement NewsPakistan achieved record monthly sales in July, increasing by 44 per cent YoY to 3.382Mt during the month led by robust growth in domestic demand. Data from the All Pakistan Cement Manufacturers Association (APCMA) said local sales increased by 55 per cent YoY to 2.906Mt in July, while exports remained flat at 0.476Mt during the month. “The dispatch figures for July are most encouraging,” International News (Pakistan) quoted an APCMA’s spokesman as saying. “The industry has established... |
Potential impacts of Pakistan capacity build27 July 2017, Published under Cement NewsPakistan cement producers have embarked on an ambitious expansion phase but could this fast-paced capacity build up be leading to a potential supply glut and a reduction in company margins? All the industry's major players are undertaking new investment projects and some 32Mta of capacity is due to come online in the next 5-6 years. This has led one local research house to warn that following tremendous valuation expansion in the last three years, risks are now becoming more prominent in ... |
UltraTech to build Madhya Pradesh plant20 July 2017, Published under Cement NewsIndian cement major UltraTech plans to establish an integrated cement plant in Madhya Pradesh with a capacity of 3.5Mta. "The board has approved a greenfield integrated cement plant at Dhar in Madhya Pradesh with a capacity of 3.5Mta. The plant will involve an investment of INR2600 crore [US$403m] and is likely to being commercial production by the fourth quarter of FY19," UltraTech chairman, Kumar Mangalam Birla, said during the company's 17th annual general meeting. The new plant will... |
Hanil completes acquisition of Hyundai Cement19 July 2017, Published under Cement NewsHanil Cement Co has completed the acquisition of Hyundai Cement Co in South Korea. The consortium of Hanil Cement and LK Investment Partners has paid US$552.2m for a controlling stake of 84.56 per cent stake (or 14.17m shares) of Hyundai Cement from 32 creditors, including the Korea Development Bank and Hana Financial Investment Co. The two companies formed HLK Holdings, a special purpose company, to acquire the shares. Hyundai Cement held a shareholders’ meeting on Tuesday, approving the ... |
Pakistan cement output up 6.6% YoY04 July 2017, Published under Cement NewsCement output in Pakistan during the first 10 months (July-April) of FY17 increased by 2.12 per cent on a MoM basis and 6.63 per cent on a YoY basis. According to data released by the country's Federal Bureau of Statistics, the domestic cement industry produced 3.33Mt in April 2017 compared to 3.258Mt in April 2016. On cumulative basis, during July-April 2017 cement production totalled 31.12Mt vs 29.17Mt in the same period a year earlier. The industry growth was due to higher loc... |