Cement News tagged under: corporate
India Cements returns to profit in 3Q28 January 2021, Published under Cement NewsIndia Cements has reported an INR693m (US$9.48m) net profit for the October-December 2020 period, compared to an INR94.3m net loss in the year-ago quarter. Revenue fell 4.8 per cent YoY to INR11.84bn from INR12.44bn. The top line of the company was largely impacted by the delayed effects of COVID-19, with most of the incremental demand for cement coming from the east, central and northern regions of India. |
Qatar National Cement Co sees net profit down 14%28 January 2021, Published under Cement NewsQatar National Cement Co has seen a 6.2 per cent YoY fall in sales to QAR659.62m (US$181.2m) in 2020, against QAR703.03m in the previous year. Net profit also declined 13.8 per cent YoY to QAR148.46m from QAR172.16m in 2019. |
Shree Digvijay Cement sees 17% rise in revenue28 January 2021, Published under Cement NewsIndia’s Shree Digvijay Cement has announced a 17.2 per cent YoY increase in standalone revenue to INR1.43bn (US$19.69m) for the December 2020 quarter, compared to INR1.22bn in the year-ago period. The company also reported a 48.5 per cent YoY rise in standalone profit to INR140.2m from INR94.4m. |
GCM to build 0.64Mta plant in Burkina Faso28 January 2021, Published under Cement NewsGeneral Community Management (GCM) Industries has started the construction of a 0.64Mta cement plant on a 7ha plot in the industrial zone of Kossodo, Burkina Faso. The first stone was laid in a ceremony led by the country’s Minister of Commerce and Industry, Harouna Kaboré, on 26 January 2021, according to Radiodiffusion Télévision du Burkina. The project, which has the option to expand capacity to 1.2Mta, represents an investment of XOF73.9bn (US$136.6m). The project has benefitted from t... |
Ha Tien Cement sees 29% decline in net profit28 January 2021, Published under Cement NewsVietnam’s Ha Tien Cement has reported a 28.6 per cent YoY fall in net profit to VND153.97bn (US$6.64m) in the final quarter of 2020. Net revenue also declined 3.2 per cent to VND2.21trn. The company saw a consolidated net profit of VND615.49bn on a net revenue of VND7.96trn in 2020, down 16.9 per cent and 9.9 per cent YoY, respectively. |
Flexco and MLT Minet Lacing Technology form strategic partnership in North America28 January 2021, Published under Cement NewsFlexco and MLT Minet Lacing Technology have signed an agreement in which Flexco will be the exclusive source for MLT products in the USA, Canada and Mexico. As part of the agreement, MLT will continue to manufacture the products for North America as Flexco integrates MLT North American business into its organisation. MLT will continue to manufacture and distribute its products through its six subsidiaries and its distribution partners throughout the rest of the world. Flexco is headqua... |
GCC sees 2% rise in sales for 4Q2027 January 2021, Published under Cement NewsMexico's Grupo Cementos de Chihuahua (GCC) has seen a 1.7 per cent YoY increase in consolidated net sales to US$232.5m for the final quarter of 2020, compared to US$228.6m in the 4Q19. EBITDA fell 5.9 per cent YoY to US$81.3 from US$86.4m, while the EBITDA margin dipped to 35 per cent from 37.8 per cent. "GCC wrapped up 2020 with strong operational and financial results despite the challenges created by the COVID-19 pandemic. These positive results show GCC’s adaptability, resiliency and... |
Taiheiyo signs capital investment agreement in Solusi Bangun Indonesia27 January 2021, Published under Cement NewsPT Solusi Bangun Indonesia Tbk (SMCB), PT Semen Indonesia Industri Bangunan and Japan-based Taiheiyo Cement Corp signed a capital transfer and inclusion agreement and cement sale and purchase master agreement (offtake agreement) on 26 January. The transfer and capital participation agreement reflects the planned capital investment by Taiheiyo in the former Holcim subsidiary through the issuance of new shares with the right to pre-order securities (HMETD) or rights issue. "The implementatio... |
Mugher Cement Factory seeks production increase27 January 2021, Published under Cement NewsEthiopia’s Mugher Cement Factory will boost production to increase its share of the market, according to Takele Uma, minister of mines and petroleum. The minister stated that the state-owned cement factory’s current production volumes are disproportionate compared to the abundant natural resources in the area. Therefore, efforts will be made to improve production capacity and increase its market share above 25 per cent. |
Fosbel acquires Wahl Refractory Solutions LLC27 January 2021, Published under Cement NewsFosbel has acquired Wahl Refractory Solutions LLC. Wahl Refractory Solutions, Fremont, Ohio, will now conduct business under the name Wahl Refractory Solutions, a Fosbel company. The integration of Fosbel and Wahl Refractory secures a future of continued growth through strengthened products and services to a broader customer base. By making a commitment to ensure Wahl’s continuing business under the Fosbel umbrella, capital investments are being made at Wahl’s manufacturing plant... |