Cement News tagged under: Weekly Newsletter
Vassiliko posts 5% 1H net profit rise11 September 2017, Published under Cement NewsCyprus-based Vassiliko Cement Works plc generated a net profit of EUR12.7m (US$15.3m) in the first half of 2017, representing a five per cent rise YoY from EUR12.1m in 1H16. Total revenue rose from EUR49m in 1H16 to EUR52.8m in 1H17, the company said in a statement on the Cyprus Stock Exchange. Cost of sales rose to EUR35.1m, from EUR30.4m, and distribution costs fell to EUR2.4m, from EUR2.7m. As a result, operating profit before the cost of finance dropped to EUR13.3m, from EUR14m. ... |
S&PGR upgrades Anhui Conch Cement06 September 2017, Published under Cement NewsS&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable. "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said. In its base case, S&PGR expect Conch Cement's ... |
Loma Negra files for IPO06 September 2017, Published under Cement NewsArgentine cement maker Loma Negra Corp has filed for an initial public offering, according to a SEC filing late Tuesday. "We believe that the economic recovery of Argentina represents one of the most attractive opportunities in global emerging markets today," the company said in the filing. "Cement consumption is highly correlated to economic activity and we expect demand for cement to grow significantly within the next five years in Argentina." Risks included cement-industry cycl... |
AfriSam submits revised PPC merger offer05 September 2017, Published under Cement NewsSouth Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b... |
Cementos Progreso joins the CSI05 September 2017, Published under Cement NewsCementos Progreso of Guatemala has joined the Cement Sustainability Initiative (CSI) as its first affiliate member, a new level created this year by CSI to expand its membership base and facilitate the initial steps for new joiners of the initiative. Cementos Progreso was founded in 1899 and is headquartered in Guatemala City, Guatemala. As a key player in construction industry in Latin America, the Company operates through three segments: cement, ready-mix concrete, and lime. The com... |
ARM suffers heavy half-year losses04 September 2017, Published under Cement NewsKenya's ARM Cement Ltd announced a half-year 428.53 per cent increase in losses to KES1.41bn (US$13.5m) from KES266.78m during the same period last year. The firm's revenue for the six-month period declined by 19.79 per cent to KES5.35bn compared to KES6.67bn last year. In May the firm, whose shares trade on the Nairobi Securities Exchange, cited strained cash flow as well as increased competition and lower selling prices as key factors contributing to the company's poor performance. ... |
KSI opens slag grinding plant04 September 2017, Published under Cement NewsPT Krakatau Semen Indonesia (KSI), a joint venture between state-owned steel maker PT Krakatau Steel and state-owned cement maker PT Semen Indonesia, has opened a new slag grinding plant. Located on a 4ha plot in Cilegon, Banten, Indonesia, the IDR420bn (US$31.4m) project saw construction start in 2014. The grinding plant has a production capacity of 690,000tpa of ground granulated blastfurnace slag (GGBS) that will be used in cement manufacture. "GGBS is a more stable product that can... |
Boral sees benefits flowing from US Headwaters acquisition31 August 2017, Published under Cement NewsBoral's turnover in its financial year to the end of June 2017 edged up by 1.8 per cent to AUD4388m (EUR2919m/US$3466m) and EBITDA improved by 11.6 per cent to AUD720m (EUR479m). The trading profit advanced by 15.6 per cent to AUD460m (EUR306m) and after a net interest charge some 20 per cent lower at AUD51m (EUR34m) the pretax profit rose by 22.1 per cent to AUD409m (EUR272m). The net attributable profit advanced by 16 per cent to AUD297m (EUR197m). Net debt at the end of June was 261 pe... |
Sinai Cement posts 1H consolidated net loss of EGP153m31 August 2017, Published under Cement NewsSinai Cement incurred consolidated net losses of EGP153.2m (US$8.7m) in 1H17, vs net profits of EGP15.4m in 1H16, the company announced in a statement to the Egyptian stock exchange. The Egyptian cement producer also posted standalone net losses of EGP155.4m in the first six months of 2017, compared with EGP14.8m in the year-ago period. |
US and Puerto Rico half-year shipments up slightly30 August 2017, Published under Cement NewsTotal shipments of Portland and blended cement in the US and Puerto Rico for the year through June were 44.7Mt, up slightly from those during the same period of 2016, according to the latest figures from the US Geological Survey. Shipments in June 2017 were about 9.4Mt, essentially unchanged from shipments in June 2016. The leading producing states for Portland and blended cement in June 2017 were Texas, California, Missouri, Florida and Michigan, in descending order, and these accounted ... |