Cement News tagged under: Corporate
Hungary: HCM needs help to relaunch cement production22 August 2014, Published under Cement NewsHungarian cement producer Hejocsabai Cement es Meszmu (HCM) will need government support to restart cement production at its Miskolc works, according to the company's managing director, Janos Kalman. The project could only be carried out after receiving the required permits and a "specific government decision" could speed up the process. HCM intends to invest HUF9bn (US$38m) on taking the first two production lines into service. The company plans to take out a loan for about a third o... |
Taiwan Cement hikes prices 3.2%22 August 2014, Published under Cement NewsTaiwan Cement announced a rise of cement prices in Guangdong and Guangxi, China, by CNY10 (US$1.63)/t or 3.2 per cent to CNY320/t. The company said that as the China market has entered peak season, cement stocks in the Pearl River Delta have been falling, enabling price rises to go ahead. Taiwan Cement said it would keep a close eye on the market's reaction and does not rule out a further price hike next month. The two provinces account for almost half of the company's Chinese prod... |
TCL shareholders axe old board22 August 2014, Published under Cement NewsSix directors have resigned from the board of Trinidad Cement Ltd (TCL) in a meeting held in Port-of-Spain on Tuesday following a dramatic compulsory meeting of shareholders fed up with the dire financial performance of the indebted Caribbean cement producer. Businessman Wilfred Espinet was elected Chairman of the new TCL board, along with retired public servant Alison Lewis, Jamaican business executive Chris Dehring, Port-of-Spain attorney Glenn Hamel-Smith, UTC executive Nigel Edwards an... |
FLSmidth wins DR Congo plant project21 August 2014, Published under Cement NewsFLSmidth has won a contract worth EUR68m from Nyumba Ya Akiba SARL to supply a complete package of equipment and engineering for a greenfield cement plant in the Democratic Republic of Congo. The plant will be located in the province of Bas-Congo, approximately 250km west of the capital Kinshasa. Nyumba Ya Akiba SARL is a joint venture between Pakistani Lucky Cement Ltd and the Rawji Group of the Democratic Republic of Congo. The parties are well established players in the cement industry ... |
Fauji Cement full-year net profit rises 27% YoY21 August 2014, Published under Cement NewsPakistan-based producer Fauji Cement reported a net profit of PKR2.39bn (US$23.7m) for the fiscal ending 30 June 2014, up 27 per cent YoY compared to PKR1.88bn in the year before. An increase in cement prices and lower financial charges contributed to the Fauji Cement’s earnings, a report by Global Research said. During the fourth quarter, earnings declined 46 per cent QoQ to PKR403m due to a higher effective tax rate of 54 per cent (versus 40 per cent during 3QFY13) and a preferred di... |
Moody's: WCC results in line with expectations21 August 2014, Published under Cement NewsMoody's Investors Service says that West China Cement Ltd's (WCC) first-half results are in line with Moody's expectations. As a result, WCC's B1 corporate family and senior unsecured ratings remain unchanged. "WCC improved its profitability and financial leverage in 1H 2014, despite a moderation in revenue growth, due to slowing cement demand," says Jiming Zou, a Moody's Assistant Vice President and Analyst. During 1H 2014, WCC achieved a 1.5 per cent YoY growth in sales, which was do... |
Chile's Cementos Bío Bío restructures Corpbanca and BCI loan21 August 2014, Published under Cement NewsChilean cement producer Cementos Bío Bío has reached a finance agreement with Corpbanca and BCI to restructure a loan taken out in August 2012. The CLP120bn (US$206m) loan has a maturity of seven years and a two-year grace period. The loan will be repaid in 20 quarterly installments, starting 17 November 2016. The debt restructuring is expected to enable the cement company to face a contraction in the cement market in an improved financial position. |
Holcim plans service centre in Slovakia21 August 2014, Published under Cement NewsHolcim is considering the creation of a European service centre in Kosice, Slovakia. The "Shared Service Center" will deliver services to 16 countries, excluding the UK, according to Holcim spokesperson Eike Christian Meuter. Plans for the centre will be finalised later this year with the facility starting operations next year. |
TCL second-quarter revenue up 9%20 August 2014, Published under Cement NewsTrinidad Cement Ltd (TCL) saw second-quarter revenue rise by nine per cent to TTD560m (US$88.3m) as demand remained strong in key markets. EBITDA and non-recurring charges climbed 16 per cent YoY to TTD132.2m in the quarter under review. For the first half year of 2014, revenue increased by TTD79.5m or eight per cent whilst EBITDA and non-recurring charges remained flat at TTD232.2m compared with the first half of 2013. Earnings during the first six months of this year were negatively impa... |
SCG Philippine operations post higher sales20 August 2014, Published under Cement NewsSiam Cement's operations in the Philippines posted stronger sales of cement, building materials and tiles in the first half of 2014, the Thai conglomerate said in a statement. The group reported a nine per cent YoY increase in the consolidated sales of its Philippine subsidiaries for the second quarter, amounting to US$38m. Contributions from the Philippine operations brought up its overall revenue from Southeast Asia by 17 per cent in the second quarter to US$3.85bn. However, its profi... |