Cement News tagged under: Weekly Newsletter
Egypt: Arabian Cement to raise US$100m through IPO07 May 2014, Published under Cement NewsArabian Cement aims to raise US$100m by listing on the Egyptian stock market, according to an official from top MENA investment bank EFG Hermes. The cement company has previously stated that it has set an indicative share price between EGP8.45 (US$1.20) and EGP9.55 (US$1.36). Trading is expected to begin on 21 May. Karim Awad, chief executive officer at EFG Hermes, said he was optimistic about the prospects for the listing of other state-owned enterprises on the Egyptian Stock Exchange. "... |
Angola: FCKS inaugurates 4500tpd kiln line06 May 2014, Published under Cement NewsFábrica de Cimento do Kwanza Sul (FCKS) has inaugurated its Kwanza Sul Cement plant and is now ready to start supplying cement in Angola following a construction period of four years and six months of tests, said the company's director Tembua Mucazo Roberto.The US$600m project was funded by South Korean group Samsung Corp. At the inauguration ceremony, Tembua Mucazo Roberto said that the plant had a clinker capacity of 4200tpd and a cement capacity of 4500tpd. These figures are similar to... |
Pakistan export volumes and revenues fall01 May 2014, Published under Cement NewsPakistan export volumes have seen a decline in the first nine months of the current fiscal both in terms of volumes and dollar value. However, latest monthly figures show a significant increase in exports to India. For the July 2013 – March 2014 period, Pakistan exported 6.123Mt of cement on revenues of US$374.78m compared to 6.522Mt at US$421.12m in the comparative period of the previous year. This translates to YoY declines of 6.11 and 11.11 per cent in terms of quantity and value, respe... |
Asia Cement (China) earnings surge30 April 2014, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the first three months of 2014 was 13.73 times higher YoY at CNY127.7m (US$20.4m). Revenue rose to CNY1.6bn, an increase of 20.6 per cent from a year earlier. The leap in the group’s earnings for the period was mainly attributable to an increase in average selling prices and a decrease in cost of coal over the same period last year, the company said in a statement. During the period the group sold 5.29Mt of cement and clinker,... |
OCC quarterly profit affected by lower output30 April 2014, Published under Cement NewsOman Cement Co (OCC) reported a 47 per cent decline in net profit to OMR3.70m (US$9.61m) for the first three months of the year as a planned kiln shut down for expansion works affects production and lowers profitability. OCC, Oman's second-largest cement producer, has embarked upon a capacity upgrade project for one of its kilns which, upon completion will increase output by 2700tpd. “Since the project is in the final stage and nearing completion, and as a part of planned project act... |
Peru: Pacasmayo 1Q net income down30 April 2014, Published under Cement NewsPeruvian producer Cementos Pacasmayo reported a drop in net income of 11.8 per cent YoY to PEN39.8m (US$14.1m) in the first quarter of 2014. EBITDA came in at PEN80.7m compared to PEN81.3m in the corresponding period of 2013. However, cement sales volumes grew by four per cent YoY, exceeding market growth, with cement net sales improving by 5.9 per cent YoY and total sales by three per cent YoY. During the Jan-Mar 2014 period, cement shipments in Peru increased marginally by 1.35 per cen... |
Philippine sales climb in first three months30 April 2014, Published under Cement NewsSales of local cement manufacturers grew by 8.6 per cent to 5.2Mt in the first three months of the year, on the back of continued growth in the construction and real estate industries. Cemap president Ernesto Ordoñez told the Philippine Inquirer that the increase in sales could be attributed to the hike in infrastructure spending by the government, as well as the continued spending and the confidence shown by the private sector in the local economy. Going forward, Ordoñez added that C... |
Solid first quarter for Cementos Argos28 April 2014, Published under Cement NewsCementos Argos posted first-quarter net income of US$39m, up 51.7 per cent compared to the first quarter 2013. The company attributed the increase in net income in part to the inclusion of the results from a recently acquired operation in Honduras, as well as 24 days of results from new assets in Florida, company representatives explained during an investor's conference call. “The significant increase of our profitability across all of the company’s three regional divisions, the still i... |
UltraTech Cement quarterly profit rises 15% YoY24 April 2014, Published under Cement NewsUltraTech Cement reported a 15 per cent rise in net profit of INR8.4bn (US$138m) for the first quarter of the year on cost control initiatives. The company said it saw continuing pressure on input and logistic costs due to the increase in railway freight and a continuous hike in diesel prices. Although there was some relief on account of softening prices of imported coal, the impact was negated by the depreciation of the Indian rupee. However, optimisation of its fuel mix and other initiat... |
Holcim to reorganise Obourg, Belgium24 April 2014, Published under Cement NewsHolcim Belgique announced its plans to adapt the organisational structure of its Obourg cement works near Mons, a step which would affect 48 jobs. The company attributes the reorganisation to the significant fall in Dutch cement consumption and a slowdown in French cement demand. Holcim Belgique serves the markets in the north of France, Belgium, southern Netherlands and western Germany. Holcim says the move is expected to bring the plant back to profitability as its products improve ... |