Cement News tagged under: pakistan
Four months export revenue growth23 November 2018, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$26.74m by exporting 616,648t of cement during October 2018, compared to US$29.05m on 671,913t of cement in previous month. This represents a fall of 7.9 per cent and 8.23 per cent in value and quantity, respectively on MoM, according to the Federal Bureau of Statistics. If compared to October 2017, earnings of US$23.3m on 472,216t of cement, translates to a growth of 14.8 per cent in earning of foreign currency and 30.5 per... |
Mixed court orders for Pakistan's cement industry20 November 2018, Published under Cement NewsThe cement industry has received mixed court orders from Supreme Court of Pakistan and Peshawar High Court on environmental/water scarcity and the gas tariff issue, respectively last week. Lucky Cement Ltd has received a stay order from the Peshawar High Court bench, which has temporarily directed the gas utility company Sui Northern Gas Pipelines Ltd (SNGPL) not to collect a higher tariff from the cement company. The court also sought written response from the petroleum secretary, Oil an... |
ABAD calls for Pakistan's government to support construction in Karachi20 November 2018, Published under Cement NewsThe Association of Builders and Developers of Pakistan (ABAD), one of the main cement consumers in the country has called on Prime Minister Imran Khan, Federal Finance Minister Asad Umar and Syed Murad Ali Shah, the chief minister of Sindh to save the construction industry from crisis. In an appeal, the association has pointed out that the construction industry has been suffering due to the ban on the construction of high-rise building in Karachi. That has caused financial losses to the me... |
Dandot Cement of Pakistan expects investment from new buyer15 November 2018, Published under Cement NewsIn its newly-released 2018 annual report, Pakistan-based Dandot Cement Co says it has received a firm intention from Calicom Industries (Pvt) Ltd to acquire control and 63,542,787 voting shares (67 per cent of paid up capital) of the company. The new buyer is expected to invest in the modernisation of electrical equipment at its facilities. The report adds that on 5 November 2018, the firm's majority shareholders have given the intention that they are entering into negotiations for sal... |
Pakistani cement firms downgraded from MSCI EM Index15 November 2018, Published under Cement NewsPakistan stock markets may see a repercussion of the MSCI Semi Annual Index Review in the short term. According to market sources, in its November 2018 Semi Annual Review, MSCI has downgraded United Bank (UBL) and Lucky Cement (LUCK) from Standard classification to Small Cap classification. Similarly, Maple Leaf (MCF) and Honda Atlas (HCAR) have been deleted from the Small Cap indexes. These changes will be effective on Monday, 3 December 2018 and will likely lead to passive foreign outfl... |
Expansion plans of Fauji Cement are underway12 November 2018, Published under Cement NewsFauji Cement Company Limited (FCCL) has informed Pakistan Stock Exchange (PSX) that the 10th Extraordinary General Meeting (EOGM) of FCCL will be held in Islamabad on 29 November 2018 to obtain approval for a greenfield project, elect company directors for a period of three years from 13 December 2018 to 12 December 2021and other business. According to annual report for the year 2018, the company is planning to establish an additional plant and necessary preparation in this regard are u... |
APCMA shares mixed figures for 4MFY1908 November 2018, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) while reviewing dispatches, profit and progress of cement industry between July and October 2018 shared mixed figures. APCMA's spokesman said that cement industry's profitability has declined considerably due to an increase in input costs, while the construction sector is not posting the anticipated demand. According to APCMA, local dispatches during first four months of this fiscal July-October 2018 shrank by four per cent to 1... |
Flying Cement make two director changes08 November 2018, Published under Cement NewsPakistan-based Flying Cement Co Ltd in Pakistan has appointed two new directors, Nadeem Tufail and Waqar Zahid. They replace Imran Chaudry and Muhammad Tawassal Majeed, respectively, from 31 October. As a result, the company's new Board of Directors now comprises: Agha Humayun Khan as Chief Executive and seven directors, ie Kamran Khan, Momin Qamar, Yousuf Kamran Khan, Qasim Khan, Samina Kamran, Nadeem Tufail and Waqar Zahid. Line No 2 upgrade The company's management has also arranged... |
Calicom Industries acquires majority stake in Dandot Cement05 November 2018, Published under Cement NewsPakistan-based Calicom Industries has agreed to acquire a majority stake in Dandot Cement Co Ltd (DDCL). Under the terms of the transaction, Calicom Industries will acquire control of DDCL and 63,542,787 voting shares, representing 67 per cent of paid up capital. |
Calicom Industries applies to acquire Dandot Cement01 November 2018, Published under Cement NewsDandot Cement Co Ltd (DCCL) has informed Pakistan Stock Exchange that the company has received a firm intention from Calicom Industries (Pvt) Ltd, Lahore to its acquire control of DCCL and 63,542,787 voting shares (67 per cent of paid up capital) of DCCL beyond the thresholds prescribed under Section 111 of the Securities Act 2016 (the "Act"). This intention was notified to DCCL's board of directors on 31 October 2018, stated by Mr Muhamamd Kamran, Company Secretary to PSX. Calicom Ind... |