Cement News tagged under: corporate
Mayur Resources has 20-year mining lease approved19 August 2020, Published under Cement NewsMayur Resources' Central Cement & Lime Project (CCL) in Papua New Guinea (PNG) is a major step closer to development with the PNG Government announcing it has granted the project a 20-year mining lease. This grant is the final statutory approval required to allow construction to begin on the vertically integrated manufacturing facility, which is 25km northwest of Port Moresby and has the potential to meet 100 per cent of PNG's cement, clinker and quicklime requirements, displacing Asian im... |
Imerys set to acquire 60% stake in refractory supplier19 August 2020, Published under Cement NewsFrance-based Imerys has signed an agreement for the acquisition of a 60 per cent stake in Turkey’s Haznedar Group, a high-grade monolithic refractories and refractory brick manufacturer. The industrial minerals company will also have the option to purchase the remainder of Haznedar. "With this deal, Imerys will complement its current offer with basic and acidic refractory bricks and extend its industrial footprint with a competitive production base in Turkey, strategically located between... |
Misr Beni Suef Cement records 84% rise in profit18 August 2020, Published under Cement NewsEgypt’s Misr Beni Suef Cement Co has seen its profit rise 84 per cent YoY to EGP29.5m (US$1.85m) during the second quarter of 2020, against EGP16m in the 2Q19. The company also reported a 94 per cent increase in profit to EGP88.77m in the 1H20, compared to EGP45.66m in the corresponding period of 2019. However, revenue declined 52 per cent YoY to EGP216m. Cement sales, including exports, also fell 53 per cent YoY, which was attributed to the continued oversupply alongside the effects o... |
Burnpur Cement sees net revenue down 2% YoY18 August 2020, Published under Cement NewsIndia’s Burnpur Cement has reported a standalone net loss of INR163.9m (US$2.19m) in the first quarter of FY20-21, compared to an INR18.4m loss in the year-ago period. Net revenue for the company also saw a marginal decrease of 1.9 per cent YoY to INR196.7m from INR200.4m. |
Votorantim Cimentos 2Q20 cement sales edge up17 August 2020, Published under Cement NewsVotorantim Cimentos released its results for the 2Q20, announcing that the company’s cement sales volumes reached 7.5Mt, up 0.3 per cent on the 7.4Mt sold in the 2Q19. Net revenues reached BRL3876 (US$717.21m), up 18 per cent on the 2Q19 when it totalled BRL3298m. EBITDA amounted to BRL735m up from BRL491m in the 2Q19. Consolidated net revenues totalled BRL3.9bn in the 2Q20, an 18 per cent increase when compared to the same period of 2019, mainly explained by better volumes and prices in Vo... |
Malbaza Cement to open new quarry17 August 2020, Published under Cement NewsMalbaza Cement Co intends to open a new quarry to obtain limestone, sand and clay in Malbaza, Niger. The opening of the new quarry is planned as the old deposits are being exhausted, according to the country’s government, who has declared the project of public interest. Malbaza Cement opened its 0.65Mta cement plant in 2019. Output from the facility is expected to cover 80 per cent of domestic demand and will enable Niger to considerably reduce cement imports. |
Twiga Cement to increase cement capacity in Tanzania14 August 2020, Published under Cement NewsTwiga Cement's Head of Commercial Cluster East, South and Central Africa, Yves Mataigne, says the company will invest TZS34bn (US$14.6m) this year and TZS33bn (US$14.1m) in 2021 to support Tanzania's drive for infrastructure projects. "Implementation of the mega projects has made us rethink about our production capacity as we see an opportunity for growth," Mr Mataigne said. Twiga Cement (HeidelbergCement group) has invested TZS105bn over the last five years in modernising its operatio... |
PPC considers restructuring and refinancing options14 August 2020, Published under Cement NewsFollowing reports that South Africa’s PPC was looking to raise ZAR1.25bn (US$71.51m) from a rights issue, the company has stated that it is currently in talks with lenders before taking any action. It also noted that its requirement to restructure and refinance the group was primarily a result of its investment in PPC Barnet (Democratic Republic of Congo), according to Business Day. While the company was considering a rights issue, the timing and size of it is dependent on several factors... |
JK Lakshmi Cement reports 6% dip in net profit14 August 2020, Published under Cement NewsIndia’s JK Lakshmi Cement saw a 5.8 per cent YoY decline in consolidated net profit to INR506.3m (US$6.76m) for the June quarter, against INR537.5m in the year-ago period. Revenue from operations also fell 19.8 per cent YoY to INR9.12bn from INR11.36bn in the 1QFY19-20. "Sales volume was severely impacted by lockdown restrictions during most part of the quarter [...] resulting in sales volume plunging by 18 per cent in Apr-June 2020 over Apr-June 2019,” said the company. However, on a ... |
Ramco Cements aims to be debt-free in three years14 August 2020, Published under Cement NewsIndia’s Ramco Cements has announced plans to become debt-free in three years, while noting that FY20-21 will be a challenging year for the company. "While the initial few months were impacted by COVID-19 related lockdown, the remaining months would see slower pick up as majority of Government spending gets channelised towards healthcare and supporting weaker sections of society," said A V Dharmakrishnan, CEO. "Our priorities will be to efficiently market products and to become a debt-free ... |