Cement News tagged under: Weekly Newsletter
ARM Cement placed under administration20 August 2018, Published under Cement NewsKenyan cement producer ARM Cement Ltd has been placed under administration. Commercial banks took control of the cement producer in a bid to recover the KES15bn (US$14.9m) owed to them. Nigeria-headquartered UBA Bank was appointed joint administrators from PricewaterhouseCoopers (PwC) on Friday. Muniu Thoiti and George Weru of PwC took over the management of the cement maker on Friday. Mr Weru said the main task is to take control of the firm after which they will conduct an in-depth anal... |
Cemento Fortaleza starts operations in Costa Rica20 August 2018, Published under Cement NewsPlycem-owned Cemento Fortaleza will move from being a distributor of cement in Costa Rica to a local producer. The company recently commissioned a new cement plant in Esparza, Puntarenas. The US$17m project includes German production technology and was built on a 50,000m 3 plot. The new plant will directly and indirectly employ more than 200 people. |
President El-Sisi inaugurates Beni Suef cement complex16 August 2018, Published under Cement NewsEgyptian President Abdel-Fatah El-Sisi inaugurated on 15 August the US$1.1bn cement and marble complex in Beni Suef governorate as part of the government’s development drive. The 5km 2 industrial complex consists of three cement plants with a total production capacity of 12Mta and 37,000tpd. The implementation of the megaproject was carried out over 21 months by Armed Forces Engineering Authority (AFEA) and some 20 local and international companies, including China’s CDI. During the... |
ARM seeks limestone mining permit15 August 2018, Published under Cement NewsARM is requesting government approval to mine limestone in five areas in Kilifi County, Kenya. The cement producer wants to mine the raw material over 24.931km 2 in the Chonyi, Pangani, Chairing, Maereni and Maseras areas. Kenya’s Ministry of Petroleum and Mining invited objections to the bid to be made within 42 days. This latest application is the third such permitting step following applications to mine in Kajiado and Makueni counties last month. These are currently under considerati... |
Elementia to invest US$30m in Yucatán grinding unit15 August 2018, Published under Cement NewsMexican cement producer Elementia will invest US$30m in a 0.25Mta grinding unit in Yucatán, reports CE Noticias Financiers. The project is in line with Fortaleza’s commercial strategy and part of the company’s previously-announced profitable growth strategy focussed on the countries where it currently operates – Mexico, USA and Costa Rica, according to a company statement. The new cement plant is scheduled to start operations at the end of 1H19, according to the company. |
Shree Cement to set up 3Mta grinding plant in Cuttack14 August 2018, Published under Cement NewsShree Cement is setting up a 3Mta cement grinding unit at Chandrabali village, Shyampura, in Cuttack district of Odisha. The INR452,550m (US$2m) facility is being constructed by Petron Engineering Construction. The scope of the contract includes civil work of plant building, silos and miscellaneous work for the project. Chief Minister of Odisha, Naveen Patnaik, performed the ground breaking ceremony in 2017. The project is expected to generate employment opportunity for 243 people Comm... |
Brazil cement sales fall 3% YoY in July13 August 2018, Published under Cement NewsDomestic cement sales in Brazil slipped 2.5 per cent to 4.589Mt in July when compared with the year-ago period when sales reached 4.709Mt, according to the country’s cement association, SNIC. Exports increased by a third to 8000t from 6000t in July 2017. In the first seven months of 2018, cement sales fell 1.7 per cent to 29.969Mt from 30.48Mt in the 7M17. Apparent consumption, which includes imports, decreased 2.1 per cent YoY to 30.1Mt. Exports from Brazil during the January-July 201... |
Suez Cement reports net profits of EGP250m in 1H1813 August 2018, Published under Cement NewsSuez Cement reported EGP250.59m (US$14m) in net profits for the six-month period ended June, against a loss of EGP40.61m in the year-ago period, according to a filing to the Egyptian Exchange (EGX). Sales amounted to EGP 3.96bn at the end of June, versus EGP 3.11bn in 1H17. Profits climbed to around EGP 156.62m in 1H18, up from EGP20.81m in the same period a year earlier. Suez Cement previously reported an EGP128.15m in profits for the three-month period ended March, versus EGP41.53m in th... |
US/Puerto Rico Portland and blended shipments up 7% in May09 August 2018, Published under Cement NewsTotal shipments of Portland and blended cement in the USA and Puerto Rico advanced 6.5 per cent to 9.4Mt in May 2018, according to the US Geological Survey. Texas, California, Florida, Georgia and Ohio were the leading states in terms of cement demand, receiving some 38 per cent of domestic USGS Cement stats 2017-10 shipments. The leading cement-producing states were Texas, Missouri, California, Florida and Michigan, which combined accounted for around 42 per cent of the domestic tota... |
Taiheiyo Cement records 32% net profit increase in 1QFY18-1909 August 2018, Published under Cement NewsTaiheiyo Cement has announced a 5.9 per cent YoY increase in revenue to JPY211.34bn (US$1.9bn) in the first quarter of FY18-19 ended 30 June, compared with JPY199.61bn of the year-ago period. Operating profit advanced 10.3 per cent to JPY9.76bn from JPY8.85bn, while net profit surged 32.4 per cent to JPY6.13bn. The company also released forecasts for the 1HFY18-19 and financial year ending March 2019, with revenue expected to reach JPY429bn and JPY888bn, respectively. Net profit is anticip... |