Cement News tagged under: corporate
Ashaka Cement sees profits rise 54 per cent27 September 2012, Published under Cement NewsNigeria-based Ashaka Cement plc has reported a YoY increase in profits of 54 per cent from NGN1.614bn (US$10.3m) to NGN2.489bn for 2Q2012 ended 30 June 2012. The company saw turnover rise to NGN12.261bn from NN10.22bn in 2Q2011. Commenting on the result, analysts at FBN Capital Ltd said the impressive performance may not be unconnected with efficient management of distribution and logistics as well as higher utilisation of coal to fuel power plants. “While we do not yet have management... |
Fauji Cement reports PKR377m in FY12 profit27 September 2012, Published under Cement NewsPakistan’s Fauji Cement Company Limited (FCCL) reported PKR377m (US$3.97m) profit after paying tax in FY12 compared with PKR359m in FY11. Though FCCL achieved a 3.7x YoY growth in gross profit, but 17.6x jump in financial charges and 2.6x higher preference dividend led to a modest profitability growth, according to the Daily Times. The company brought an extra 7200tpd of capacity online, which resulted in an 84 per cent increase in cement volumes to 2Mt. In addition, a 32 per cent rise... |
Cemex launches Fortium ICF26 September 2012, Published under Cement NewsCemex announced the US launch Fortium ICF, a new construction material specifically engineered to reduce the time and material needed to build vertical concrete wall systems, such as Insulated Concrete Form (ICF) building envelopes, while providing substantial savings in long term maintenance and energy costs. Fortium ICF employs cutting-edge advancements in mineralogy and nanotechnology to improve the performance of concrete at a microscopic level, and eliminates fully up to 75 per cent ... |
Shriram EPC to raise INR4bn for cement works25 September 2012, Published under Cement NewsIndia-based Construction and engineering company Shriram EPC Ltd expects overseas private equity investors to pick up a 30-35 per cent stake in Shree Satyajyothi Cements in the next three months, according to reports in Livemint. Shriram EPC holds a 70 per cent stake in the Andhra Pradesh-based Shree Satyajyothi Cements and plans to sell its stake to raise INR4bn for a captive power plant, help the company’s cashflow and to provide some liquidity to the erstwhile promotors. “It is a wr... |
Shriram EPC to raise INR4bn for cement works25 September 2012, Published under Cement NewsIndia-based Construction and engineering company Shriram EPC Ltd expects overseas private equity investors to pick up a 30-35 per cent stake in Shree Satyajyothi Cements in the next three months, according to reports in Livemint. Shriram EPC holds a 70 per cent stake in the Andhra Pradesh-based Shree Satyajyothi Cements and plans to sell its stake to raise INR4bn for a captive power plant, help the company’s cashflow and to provide some liquidity to the erstwhile promotors. “It is a wr... |
UCG changes staff at Semei and Bekabad25 September 2012, Published under Cement NewsUnited Cement Group Holding (UCG) has announced changes to its staff at Semei Cement Plant LLP and Bekabadcement OJSC. Melnikov Sergei Nikolaevich was appointed for a position of the Managing Director of the Semei cement plant. Previously he worked as Technical Director of the Kant Cement works. Meanwhile Karabayeva Feruza Pulatovna was appointed as General Director of Bekabadcement OJSC after three years at Bekabadshiffer as accountant, chief account and subsequently, acting General D... |
UCG changes staff at Semei and Bekabad25 September 2012, Published under Cement NewsUnited Cement Group Holding (UCG) has announced changes to its staff at Semei Cement Plant LLP and Bekabadcement OJSC. Melnikov Sergei Nikolaevich was appointed for a position of the Managing Director of the Semei cement plant. Previously he worked as Technical Director of the Kant Cement works. Meanwhile Karabayeva Feruza Pulatovna was appointed as General Director of Bekabadcement OJSC after three years at Bekabadshiffer as accountant, chief account and subsequently, acting General D... |
HeidelbergCement invests US$250m in Togo24 September 2012, Published under Cement NewsHeidelbergCement will invest US$250m in the building of a new clinker plant and a cement grinding unit in Togo. The new cement works, which will be located in Tabligbo, around 80km northeast of the Togo capital of Lome will have a capacity of 1.5Mta, while the new 0.2Mta grinding facilities will be constructed in Dapaong, 600km to the north. “The construction of the new clinker plant and the cement grinding facility is part of our strategy of focussing on expanding our clinker and cement... |
Dangote sets sights beyond Africa24 September 2012, Published under Cement NewsDangote Cement is expanding out of Africa. While its chairman Aliko Dangote remains firmly committed to the continent and its 40Mta production capacity owned by the company, he has set his sights beyond its borders – starting with Iraq and Myanmar, where plant construction could start as early as next year. When asked why he is investing specifically in those locations, he gives the example of Myanmar. As the country opens up, the opportunity is currently there to invest but may disappear at... |
Venezuela production reaches 8.2Mt in 12 months21 September 2012, Published under Cement NewsFor the 12 months between August 2011 and 2012, cement production in Venezuela stood at 8.3Mt, according to the vice president for Productive Economic Area, Ricardo Menendez on Thursday. "The first half was the highest in the history of cement production in the country, and the monthly average has remained above 700,000t during the year," Menendez said in a press conference. The industries minister also noted that this figure is an example of the growth trend experienced in recent yea... |