Cement News tagged under: Weekly Newsletter
UltraTech Cement signs binding MoU for Jaiprakash Associates cement units29 February 2016, Published under Cement NewsIndia's UltraTech Cement Ltd said on Sunday it had entered a binding memorandum of understanding to acquire Jaiprakash Associates Ltd's cement plants for INR165bn (US$2.457bn). The assets have a total cement capacity of 22.4Mta, including 4Mta under implementation, and are situated in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. “The assets will give the company access to the newer markets of Satna, Uttar Pradesh East, Himachal P... |
Cimpor books major loss in 201526 February 2016, Published under Cement NewsCimpor's turnover declined by 4.3 per cent in 2015 to EUR2492.7m while EBITDA came off by 18.6 per cent to EUR525.7m. The trading profit emerged 30.2 per cent lower at EUR313.3m and the net financial charge increased by 9.3 per cent to EUR406.1m, giving a pretax loss of EUR92.8m compared with a profit of EUR77.3m in the previous year. A EUR12.4m tax credit helped to reduce the net attributable loss to EUR71.2m compared with a profit of EUR27.2m in the previous year. Net debt at the end of... |
Adelaide Brighton reports record revenue26 February 2016, Published under Cement NewsAdelaide Brighton has reported record revenue of AUD1413.1m (US$1017.35m) for 2015, representing a YoY increase of 5.6 per cent supported by cement and lime volumes, improved prices and the contribution of acquisitions made in the second half of 2014. Net profit after tax (NPAT) attributable to members of AUD207.9m for the year ended 31 December 2015. Property contributed AUD34.9m to NPAT on cash proceeds of AUD47.9m. Underlying EBIT, excluding property profits increased 4.5 per cent to... |
Kenya: EAPCC issues profit warning26 February 2016, Published under Cement NewsKenya-based East African Portland Cement Co (EAPCC) expects its profit to fall by more than a quarter in the financial year ending June 30 citing year-earlier gains on land sales, Reuters reported yesterday. "The unrealised fair value gain on investment property and the gain on disposal of land will not recur this financial year," EAPCC said in a statement. The company's pretax loss widened to KES745.02m (US$7.33m) in the first half on higher finance costs and foreign exchange losses. EAP... |
Semen Indonesia full-year net profit falls24 February 2016, Published under Cement NewsPT Semen Indonesia Tbk reported an 18.7 per cent drop in 2015 net profit to IDR4.52trn (US$336.56m) versus IDR5.56trn a year earlier. In its financial report published Tuesday, the company's 2015 revenues totalled IDR26.95trn, virtually flat from the IDR26.99trn in 2014 amid sluggish demand. The company's president director Suparni attributed the fall in net profits to the increase in electricity and distribution costs, as well as the depreciation of the rupiah against the US dollar, lo... |
Ethiopia: Messebo in solid AF supply agreement23 February 2016, Published under Cement NewsThe Egyptian Company for Solid Waste Recycling (ECARU), a subsidiary of Qalaa Holdings’ Tawazon, has signed a five-year contract with Ethiopia’s Messebo Cement to supply biomass to gradually replace coal. As stipulated by the agreement between the two companies, ECARU will be the technology and service provider responsible for collecting, transporting and processing local biomass that will be converted to alternative solid fuel. ECARU has been supplying biomass as a source of energy ... |
Bestway consolidated turnover up 45.5%22 February 2016, Published under Cement NewsBestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices. The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PKR7.6bn, representing a YoY increase of 37 per cent. Consolidated profit after tax also climbed 47 pe... |
ZCCM plans cement and power investment22 February 2016, Published under Cement NewsZambia-based ZCCM Investments Holdings is expected to develop a cement plant and 52MW thermal power and Ndola as part of the company’s diversification programme. ZCCM-IH will team up with private investors for the projects, and it is also collaborating with local and international financial institutions on the financing of the projects, according to local press. Pius Kasolo, CEO of ZCCM-IH, told journalists on Monday that the power plant will provide 30-35MW of reliable electricity suppl... |
Peru: Pacasmayo 4Q15 boosted by public sector demand, new Piura facility17 February 2016, Published under Cement NewsPeru-based Cementos Pacasmayo saw a nine per cent in fourth-quarter volumes which benefitted from the anticipated increase in demand from the public sector, the company said in a statement yesterday. Crucially, supplies were supported by its new Piura facility which improved Pacasmayo's competitive position in the northern region of the country, it added. Fourth-quarter revenues rose by 8.7 per cent and EBITDA up more than 10 per cent, excluding the impact of extraordinary non-operating i... |
Summit Materials sees volumes and prices increase across most lines17 February 2016, Published under Cement NewsSummit Materials saw volume and prices increase across most lines of business in 2015, with revenue rising by 20.5 per cent led by its West and Cement segments, the company said in a statement. Tom Hill, CEO of Summit, stated: “2015 marked a significant year of progress for our company, in which we meaningfully enhanced our materials exposure, improved our capital position and met or exceeded nearly all our core operating metrics. During the year, we increased our Adjusted EBITDA margin b... |