Cement News tagged under: Sri Lanka
Sri Lanka: Tokyo Cement expansion project20 December 2016, Published under Cement NewsTokyo Cement Co (Lanka) Plc has commenced initial testing at its cement plant in Trincomalee, Sri Lanka. The fully-automated plant is expected to nearly double the company’s production capacity when it begins commercial operations in February 2017. It will add 1Mta to the existing capacity of Tokyo Cement, bringing total production capacity to 2.8Mta. This plant symbolises the beginning of an expansion plan undertaken by Tokyo Eastern Cement Co (Private) Ltd, a fully-owned subsidiary of T... |
Thailand: SCCC profits shrink31 October 2016, Published under Cement NewsSiam City Cement Co (SCCC) posted a smaller profit for 9M16 as a result of higher financing costs, spending on acquisitions and annual shutdowns. CEO, Siva Mahasandana, said the net sales for 9M16 stood at THB24.8bn (US$708.4m), a five per cent increase from the THB23.7bn registered in the same period of 2015. Net profit fell 16 per cent YoY from THB3.6m to THB3m in the period under review. SCCC recently acquired a Sri Lankan cement manufacturer Holcim (Lanka) Ltd with the deal complet... |
Semen Indonesia: unsuccessful Holcim (Lanka) bid will not deter from ASEAN expansion29 September 2016, Published under Cement NewsPT Semen Indonesia (Persero) Tbk's director, Rizkan Chandra, has claimed that Siam City's bid for Holcim (Lanka) Ltd was "an outrageous price". Siam City Cement won 99 per cent of the Holcim Lanka shares for US$400m. "We lost the tender in Sri Lanka because Siam City Cement bid an outrageous price," said Mr Chandra to CNN Indonesia. "The price Siam City paid was an anomaly. The lowest price by one of the seven other bidders was US$240m," he explained. The director disclosed that ... |
Sri Lanka: Tokyo Cement increases profits by 38%22 August 2016, Published under Cement NewsTokyo Cement Plc saw its April-June quarter net profit increase 38 per cent YoY to LKR643.8m (US$4.42m) amid strong top-line gains and better cost management. Group turnover for the quarter rose nine per cent YoY to LKR7.5bn, while cost of sales rose at six per cent, allowing the group to post a gross profit of LKR1.8bn, up 20 per cent YoY. The group was able to keep its operational costs in check as distribution and administrative costs increased only two and four per cent YoY, ... |
Sri Lankan cement imports up in 201622 August 2016, Published under Cement NewsSri Lanka’s cement production edged up by 19.7t to 1.04Mt in January-May 2016 and imports were up 18.4 per cent to 1.88Mt. Collectively, production and imports rose by 450,000t to 2.93Mt for the first five months of 2016, an 18.9 per cent increase compared to a year earlier. In the same period in 2015, production and imports rose by 103,000t to 2.46Mt, a 4.4 per cent advance when compared with a year earlier. The country has recently witnessed a recovery in demand in the housing sector... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
Tokyo Cement Ube Industries deal10 August 2016, Published under Cement NewsTokyo Cement Group (Lanka) Plc has signed a deal on 1 August with Japanese company Ube Industries Ltd, for the import of raw materials and technical support to produce cement. In a statement Tokyo Cement said: “Tokyo Cement Group has entered into a collaborative agreement with Ube Industries Ltd of Japan for technical support services and import part of their raw materials requirement from Japan to manufacture high-quality cement.” Ube Industries operates in five business segments - ce... |
Siam City Cement to acquire Holcim Lanka25 July 2016, Published under Cement NewsSiam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ... |
Sri Lanka: Tokyo Cement looks to US for investment backing20 July 2016, Published under Cement NewsThe chief financial officer and other members of the Tokyo Cement management team are in the US this week for an investor roadshow, Lanka Business Online reports. Mark Decker, whose brokerage firm is promoting the roadshow, said: “Tokyo Cement is an under-researched company with a dominant market position, brand equity built over three decades, and clear growth prospects in light of Sri Lankan infrastructure and building construction projects. “We’re honoured to introduce the firm’s m... |
Sri Lanka: Tokyo Cement Company calls for end to price controls15 July 2016, Published under Cement NewsTokyo Cement, the largest cement producer in Sri Lanka, has called on the government to end controls and allow the market to set prices, Colombo’s Daily Mirror reports. In 2015 the government introduced a price ceiling of LKR870 (US$6.00) for a 50kg bag of cement, at a time when local prices were LKR930-940. Since last year the Sri Lankan rupee has depreciated in value, raising the cost of clinker imports and raising costs further down the supply chain. Managing director of Tokyo Ce... |