Cement News tagged under: Weekly Newsletter
Mixed bag for Turkish cement producers in 201607 February 2017, Published under Cement NewsSeveral cement producers in Turkey have released their results for 2016, showing a mixed performance in the year. Unye Cimento saw its net profit rise from TRY48.3m (US$13m) in FY15 to TRY58.3m in FY16. The company reported a rise in revenue from TRY222.3m to TRY250.7m over the same period. Meanwhile, other Turkish cement producers have seen profits fall. Bolu Cimento’s net profit slipped to TRY106.4m in FY16 from TRY106.7m in FY15 while the company’s revenue was up to TRY452.4m from... |
Vietnam notes fall in exports in 201606 February 2017, Published under Cement NewsVietnam exported 14.73Mt of cement in 2016, down 7.1 per cent YoY, according to the General Department of Vietnam Customs. Export revenues fell 16 per cent YoY to US$561m. In December the country exported 1.31Mt of cement and clinker to the value of US$50.58m, increasing 7.7 per cent and 10.4 per cent MoM in volume and value, respectively. Key destinations of cement and clinker exports were Bangladesh and the Philippines. Bangladesh imported 4.7Mt, representing a value of US$141m or 25... |
Pakistan: US$400m British investment in new plant06 February 2017, Published under Cement NewsBritish company Asian Precious Minerals (APML) announced plans to invest US$400m in a new cement plant in Khyber Pakhtunkhwa, Pakistan. The announcement was made during a meeting between APML and the Chief Minister of Khyber Pakhtunkhwa, Pervez Khattak. The Chief Minister explained the province’s new industrial policy under which the government offered several incentives to local and foreign investors. He said investors could benefit from a transparent one-window operation for establishin... |
USA: Essroc-Lehigh acquisition06 February 2017, Published under Cement NewsFollowing a US$4.2bn acquisition deal in June 2016, Essroc's Nazareth plant in Pennsylvania will feature signs saying it is now part of Lehigh Cement Co. The acquisition combined Lehigh Hanson Inc and Essroc Cement Corp, which were then owned by parent companies HeidelbergCement AG and Italcementi SpA, respectively. Now, HeidelbergCement AG is the owner of both Lehigh Hanson Inc and Essroc. "For now the legal entity is still 'Essroc' and our operating permits still show 'Essroc,' but w... |
Saudi Arabia: lacklustre domestic demand creates price war01 February 2017, Published under Cement NewsA drop in domestic demand caused by a downturn in government construction projects has triggered a price war among cement producers in Saudi Arabia, according to local newspaper Al-Youm. The National Cement Committee of the Council of Saudi Chambers acknowledged the price war but said it was not involved in it. “The committee has nothing to do with the decline in cement prices or the price war which is happening in the market,” said Committee Chairman, Jihad Al-Rasheed. The newspaper r... |
Sri Lanka: production and imports spike in 9M1601 February 2017, Published under Cement NewsSri Lanka's combined cement production and imports were up 28.4 per cent YoY to 6.5Mt by October 2016, indicating a strong recovery in the construction sector. Domestic production was up 17.5 per cent (334,000t) to 2.24Mt, according to central bank data. Import volumes were up 35 per cent (1.1Mt) to 4.2Mt. In 2015 domestic production expanded 21 per cent to 2.28Mt, but imports fell 1.4 per cent to 4.09Mt. Total cement production and imports rose only 5.8 per cent to 6.78Mt in 2015. |
India: Shree Cement board approves new 3Mta plant31 January 2017, Published under Cement NewsShree Cement Ltd on Monday said its board had approved a plan to build a 3Mta plant in Karnataka at a cost of INR18,000m (US$265.3m). The proposed plant is expected to be ready by the quarter ending 31 December 2018, the company said in a regulatory filing.The project is to be funded by internal revenues not yet accounted by the company. Shree Cement’s board also approved on Monday the payment of a special dividend of INR100 per share. The company’s shares fell 1.3 per cent to INR15,677.30... |
Egypt: Arabian Cement to reduce US$ loans30 January 2017, Published under Cement NewsThe Arabian Cement Company plans to accelerate the repayment of US dollar loans owed to banks during the current year to decrease the total value of these debts to EGP40m (US2.1m), compared to EGP65m (US$3.46m) in 2016. An official at the Arabian Cement Company told Daily News Egypt that the company made the decision to avoid the high cost of dollar debts after the Egyptian pound’s floatation in November, which increased the dollar price from EGP8.88 to more than EGP19. The source added... |
India Cements Ltd announce 3Q16 profits of US$519.6m30 January 2017, Published under Cement NewsIndia Cements Ltd registered net profit at INR35,340m (US$519.6m) for the third quarter ending 31 December 2016 in the back of strong sales volume and lesser cost of production. The cement company registered net profit at INR3160m during the corresponding quarter of the previous year. For the nine-month period, net profit surged to INR141,730m from INR79,460m registered during the year ago period. Declaring the results, India Cements Ltd Vice Chairman and Managing Director, N Srinivasa... |
Pakistan: Attock Cement net profit of US$13.1m30 January 2017, Published under Cement NewsAttock Cement Ltd has announced a net profit of PKR1.378bn (US$13.1m), translating into the earnings/share (EPS) of PKR12.03 for the half-year ended 31 December 2016, which is 19 per cent higher than the profits of PKR1.152bn, and the EPS of PKR10.07 announced during the same period of the last year. The surge in profitability can be attributed to higher sales, which stood at PKR7.228bn for the period under review as compared to the sales of PKR6.396bn during the same period of the last ye... |