Cement News tagged under: Weekly Newsletter
Lucky to begin Basra plant trial production, Iraq29 November 2013, Published under Cement NewsPakistan's largest cement producer, Lucky Cement, has said it is working on its 0.87Mta grinding plant in Basra, Iraq on a fast-track basis and trial productions are expected to begin next month. The company intends to import clinker from the UAE for this project. The new grinding plant is expected to cost US$35m, with an expected payback period of three years. Lucky Cement has said it may consider setting up a fully integrated works in Iraq, on successful implementation of the Basra fa... |
TCC International receives buyout bid28 November 2013, Published under Cement NewsTCC International Holdings said it received a buyout offer from its parent company Taiwan Cement Corp. Taiwan Cement currently holds a 56.5 per cent stake in TCC International Holdings. The proposed deal is valued at HKD5.59bn (US$721m), according to Bloomberg. The deal will allow Taiwan Cement to book the full profits of the Hong Kong unit, TCC International Holdings Ltd, which has a major production base in China and is benefiting from rising product prices there, analysts said. |
Lafarge to boost construction capabilities28 November 2013, Published under Cement NewsLafarge Cement Sdn Bhd, a wholly-owned subsidiary of Lafarge Malaysia Berhad, has signed a Memorandum of Understanding (MoU) with CIDB Holdings Sdn Bhd, a wholly-owned subsidiary of the Construction Industry Development Board Malaysia, to promote the use of cement and concrete and improve construction standards and sustainable construction practices. Under the MoU, Lafarge and CIDB will collaborate to provide training and certification to construction personnel. This partnership aims to dev... |
South America now drives Cimpor27 November 2013, Published under Cement NewsTurnover for Cimpor during the first nine months of the year emerged 23.4 per cent higher as the additional assets in Argentina, Brazil and elsewhere more than made up for the assets sold, predominantly in the Mediterranean rim. The EUR1984.3m turnover was 69.5 per cent higher than the EUR1170.6m shown for the first nine months of last year. EBITDA improved 14.2 per cent to EUR481.5m on a comparable basis and 35.5 per cent higher than the EUR355.4m shown a year ago. There has been no in... |
Pakistan export volumes rise in 4MFY13-1427 November 2013, Published under Cement NewsPakistan export volumes have increased in the first four months of the current fiscal compared to the same period a year ago, but October volumes were down on a monthly and annual basis. During the first four months of the current fiscal, Pakistan exported 3.159Mt of cement on revenues of US$190.08m, data from the country’s Bureau of Statistics shows. This translates to a 7.42 per cent YoY increase in volumes but a marginal decline of 0.04 per cent in value terms. However, in terms o... |
Portland Valderrivas reduces losses27 November 2013, Published under Cement NewsCementos Portland Valderrivas has cut losses in the first nine months of 2013 thanks by 74 per cent to EUR24.8m compared to EUR95.2m in the same period of last year, thanks to a series of cost control measures. Group revenues for the period amounted to EUR413m, of which Spain accounted for EUR168m. Operations in the US and Tunisia accounted for 60 per cent of group revenues and partly offset weak cement demand in Spain, which fell 22 per cent YoY to 8.3Mt over the Jan-Sept period. EBITDA in... |
Exports offset domestic losses for Molins25 November 2013, Published under Cement NewsThe third-quarter consolidated net profit of Spain’s Cementos Molins fell 65.5 per cent YoY to EUR10.8m. The company’s international subsidiaries enjoyed a profit of EUR43.3m, offsetting the EUR32.5m loss registered in the domestic market. In the first nine months of the year, consolidated turnover slipped by 9.7 per cent YoY to EUR621m. Around 10.5 per cent was shaved of the turnover originated in Spain while the lower contribution of Mexican subsidiary and the consolidation of Cementos ... |
South Africa: Chinese investment for Mamba Cement in place21 November 2013, Published under Cement NewsThe Mamba Cement project, jointly funded by China's Jidong Development Group, the China-Africa Development Fund and a South African cement company, signed the financing agreement in Johannesburg for work to begin on the project. The greenfield plant will cost US$220m to build and will be situated in Limpopo Province, South Africa. The capital fund of the project is US$100m, 51 per cent of which is held by Chinese shareholders. Unlike traditional overseas investment financing, Mamba receiv... |
Vietnam: Vinaconex on target with restructuring20 November 2013, Published under Cement NewsVietnam Construction and Import-Export JSC (Vinaconex) claims to have met its restructuring targets after successfully addressing shortcomings in the firm's assets, capital sources and operations. Lowering investments into non-core businesses and reducing its debts has enabled Vinaconex to fulfil its asset restructuring, capital and operational targets to foster its core construction business. The Vietnamese construction company confirmed it would focus on core business areas and resolve o... |
Nigeria: Dangote Cement Plc gross revenue soars20 November 2013, Published under Cement NewsIn the 1H13 Dangote Cement Plc's gross revenues grew by 29 per cent to NGN288.9bn (US$1.8bn) for the 3Q13, from NGN224.5bn recorded in the corresponding period 3Q12. Dangote Cement recorded a profit before tax (PBT) of NGN151.7bn for the nine-month period to September 2013, an increase of 43 per cent YoY from NGN106.4bn in 3Q12. Operational expenses grew by 57 per cent to NGN33.6bn in the nine months through to September 2013, while finance cost reduced by five per cent to NGN9.1bn in t... |