Cement News tagged under: corporate
SCCC second-quarter net profit down, Thailand23 July 2014, Published under Cement NewsSiam City Cement Co (SCCC), Thailand's second-largest cement producer, posted a nine per cent YoY decline in 2Q14 net profit to THB1.47bn (US$46m) due to foreign exchange losses and declining equities revenue from associated companies. Net sales were ahead by 4.4 per cent YoY to THB7.8bn but fell 10 per cent QoQ on seasonal effects. First-half net profit increased by 19.2 per cent to THB3.38bn on sales of THB16.5bn, up by 10 per cent. "Net profit and profitability margins improved furt... |
Vecoplan names Eschenhorst VP of cement unit23 July 2014, Published under Cement NewsUwe Eschenhorst has been named VP – Cement Business Unit at Vecoplan LLC. Eschenhorst joined Vecoplan in 2012 as vice president of its Alternative Fuels and Energy Competency Center. Prior to that he was environmental services manager at Polysius Corp USA, working with the cement and minerals industries. While at Polysius, he directed the design, engineering, construction, and implementation of large systems and entire plants that incorporated the use of alternative fuels as an integral c... |
Loesche delivers slag mill to Taigang Group23 July 2014, Published under Cement NewsLoesche has delivered the world’s largest slag mill to Taigang Group International Trade Co, Ltd, German equipment specialists have said in a statement. Loesche received the order for a vertical mill type LM 63.3+3 for grinding granulated blastfurnace slag in September 2011. The plant went into operation at the steelworks of TISCO, Shanxi Taigang Stainless Steel Co. Ltd in Taiyuan in March 2014. It attained a new record product rate of 255tph of blastfurnace slag meal after only a short pe... |
RAK Cement swings to first-half net profit, UAE22 July 2014, Published under Cement NewsPreliminary first-half results for Ras Al Khaimah Cement (RAK Cement) show that the UAE-based producer achieved a net profit of AED3.2m (US$871,198) compared to a loss of AED1.6m in the equivalent period of last year. In a statement to the Abu Dhabi Securities Exchange revealed that revenues from local sales amounted to AED37.5m (US$10.2m) against AED38m in 2013, down 1.05 per cent YoY. Export revenue, on the other hand, climbed five per cent to AED84m compared to AED80m in the year-ago pe... |
Oman: OCC profit rises despite drop in sales22 July 2014, Published under Cement NewsOman Cement Co (OCC) posted a 4.3 per cent rise in net profit before tax for the first six months of this year, despite a drop in sales. The sultanate’s second-largest cement producer by capacity reported a pretax profit of OMR9.9m (US$25.7m) during the period compared to OMR9.5m in 1H13. Sales in the first half of 2014 stood at OMR3.7m, down 5.9 per cent on the OMR27.3m seen in the comparative period of last year. |
China Tianrui Group expects 15% rise in 1H14 net profit22 July 2014, Published under Cement NewsChina Tianrui Group Cement said it expects to record an increase of about 15 per cent in consolidated net profit for the six months to the end of June 2014 compared to the same period of 2013. The growth was mainly attributable to the substantial increase in sales volume compared to the same period of last year. |
Umm Al-Qura signs financing agreement, Saudi Arabia22 July 2014, Published under Cement NewsUmm Al-Qura Cement Company announced the signing of an Islamic financing agreement with The Saudi British Bank (SABB) on 22 July for SAR 618.874m. The financing has a tenor of three years and is for specific project financing needs. |
Cemex EBITDA margin under pressure21 July 2014, Published under Cement NewsCemex' first-half turnover improved by 5.7 per cent to US$7736.5m and the EBITDA edged ahead by 1.5 per cent to US$1269.7m, while the trading profit improved by 4.5 per cent to US$721.5m. Net interest payments rose by 15.1 per cent to US$841.4m and, after other charges, there was a pre-tax profit of US$49.2m compared with a US$118.9m loss. At the net attributable level, the loss fell by 49.1 per cent to US$220.3m. Equity shareholders' funds at the end of June declined by 2.6 per cent ... |
UltraTech full-year hit by operational costs21 July 2014, Published under Cement NewsUltraTech Cement, an Aditya Birla Group company, today announced its financial results for the year ended 31 March 2014. Full-year net sales stood at INR58.32bn compared to INR53.91bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR13.29bn compared to INR13.83bn. Profit after tax was INR8.38bn against INR7.26bn in FY13. Combined cement and clinker sales were up nine per cent YoY to 12.18Mt (previous year: 11.13Mt). "The year witne... |
Lafarge Holcim antitrust reviews ‘on-track’21 July 2014, Published under Cement NewsHolcim and Lafarge are in "advanced" discussions with European antitrust regulators over their proposed merger, Bernard Fontana, chief executive of Holcim, told the Wall Street Journal. Earlier this month, the companies identified shared assets, including 23 plants in eight countries amounting to a total of 27.5Mta, that will be sold to allow the merger to go ahead. Mr Fontana told the newspaper that discussions with the European Union – where the two companies have some of their greatest... |