Cement News tagged under: corporate
Steppe Cement sells 0.76Mt of cement in 1H202009 July 2020, Published under Cement NewsSteppe Cement of Kazakhstan reports that it sold 764,752t of cement in the 1H20 for KZT13,677m (US$33.24m), down from 780,315t for KZT10,079m in 1H19. This represents a decline of two per cent in volume and three per cent in turnover. The average price of cement in the 1H20 was KZT17,884/t, excluding VAT, compared to KZT18,042/t in the 1H19. The ex-works price declined to KZT14,727/t from KZT15,148/t in the 1H19. Kazakhstan's cement market grew by two per cent in the 1H20, compared to the ... |
Maweni Limestone upgrades kiln line09 July 2020, Published under Cement NewsHuaxin Cement’s Maweni Limestone subsidiary has ignited the kiln and begun trial production at its recently-upgraded 0.75Mta plant. Huaxin Cement acquired the Tanzanian company in May this year and began work on the kiln line on 1 June. The grinding section of the facility is not expected to be upgraded. Subject to developments related to the COVID-19 pandemic, Huaxin is now planning to send a management team to implement the advanced cement process technology, according to reports. |
Lucky Cement sees 33% rise in June revenue09 July 2020, Published under Cement NewsTaiwan’s Lucky Cement has posted a 32.6 per cent rise in revenue to TWD360.6m (US$12.25m) for June 2020, compared to TWD272m in the year-ago period. In the first six months of the year, revenue advanced 28.3 per cent YoY to TWD2.23bn from TWD1.74bn. |
UltraTech Cement's subsidiary to sell entire stake in Shandong Binani Rongan Cement08 July 2020, Published under Cement NewsIndia’s UltraTech Cement has announced that its Krishna Holdings subsidiary will sell its entire stake in Shandong Binani Rongan Cement Co for a value of US$120m. "Krishna Holdings Pte Ltd, incorporated in Singapore and a subsidiary of the company’s wholly-owned subsidiary UltraTech Nathdwara Cement Ltd, has informed that it has entered into a binding agreement for divesting its entire equity shareholding of 92.5 per cent in Shandong Binani Rongan Cement Co Ltd," stated the company. Shan... |
ACC Ltd's net sales rise 6%08 July 2020, Published under Cement NewsACC Ltd (LafargeHolcim) held its 84th AGM on 6 July via video conference and reporting its net sales in 2019 increased by six per cent to INR153.43bn (US$2.04bn) and its premium range of cement products delivered strong double-digit volume growth. ACC's ready-mix concrete business with a total of 90 plants continued to record strong growth of 12 per cent in volume terms and 13 per cent revenue growth over previous year. Focussed cost reduction initiatives resulted in operating EBITDA impro... |
HeidelbergCement revaluates business units with impairment test07 July 2020, Published under Cement NewsDue to the COVID 19 pandemic, HeidelbergCement AG has reviewed the business prospects of all significant local business units of the group, and has carried out an impairment test on its asset portfolio in the 2Q20. The audit leads to an impairment of goodwill and tangible fixed assets shown in the consolidated balance sheet totalling around EUR3.4bn (US$3.8bn) before tax. Regionally, the impairments relate mainly to business units in western and southern Europe (UK, France, Belgium, The ... |
Lafarge Cement Zimbabwe sees revenue advance 104%07 July 2020, Published under Cement NewsLafarge Cement Zimbabwe saw its profit for 2019 rise to US$178m, while volumes remained flat YoY at 323,000t. Gross profit increased 251 per cent to US$496m from US$141m in 2018. Kumbirai Katsande, chairman of the company, attributed the improved margins to agile pricing and disciplined cost management. The company saw its revenue advance 104 per cent YoY to US$919m in 2019, compared to US$449m in the previous year. It also started the implementation of a US$25m capex programme, which wil... |
South Valley Cement posts net loss in 201907 July 2020, Published under Cement NewsEgypt’s South Valley Cement Co reported a net loss of EGP316.35m (US$19.7m) in 2019, against a net profit of EGP10.19m in the previous year. In the first nine months of 2019, the company had seen its net loss widen to EGP173.9m from EGP16.8m in the 9M18. |
Belarusian Cement Co sees sales rise 105% in 5M2006 July 2020, Published under Cement NewsBelarusian Cement Co produced 1.835Mt of cement in the January-May 2020 period, an increase of 104.7 per cent YoY. Total domestic sales also advanced 112.1 per cent YoY. Belarusian Cement Mill dispatched 656,600t of cement (up 3.6 per cent YoY), including 407,800t of domestic sales (up 13.8 per cent). OAO Krasnoselskstroymaterialy reportedly sold 568,300t of cement in the 5M20, climbing 110.2 per cent. OAO Krichevtsementnoshifer also saw sales rise 109.6 per cent YoY to 465,000t. Through t... |
Jordanian Cement Factories files for insolvency06 July 2020, Published under Cement NewsThe Jordanian Cement Factories Co has announced that it will file for insolvency on the back of adverse financial conditions, worsening as a result of the COVID-19 pandemic, according to The Jordan Times. As a result, the company has partially halted sales, collection and production. The company’s management had worked on a road map to restructure the company to increase sales, production and operational efficiency. However, the negative economic impact caused by the pandemic has impeded ... |