Cement News tagged under: corporate
JSW Cement delays expansion and listing plans16 June 2020, Published under Cement NewsIndia’s JSW Cement has deferred its expansion plans by around 6-12 months and further delayed its listing on the bourses. The company’s plans would have seen it reach 25Mta of capacity by 2023. "As a result of the current economic situation, our expansion plans are being deferred by six to 12 months. But these will happen for sure," said Nilesh Narwekar, CEO of JSW Cement. "As of now, we do not need to raise capital and the current economic situation is also not conducive. We want to h... |
Sinai Cement sees net losses widen in 1Q2016 June 2020, Published under Cement NewsEgypt’s Sinai Cement saw its net losses widen 35 per cent YoY to EGP105.44m (US$6.5m) in the first quarter of 2020, compared to a loss of EGP78.16m in the corresponding period of last year. However, the company’s net sales increased 5.3 per cent YoY to EGP211.73m from EGP201.08m in the 1Q19. |
Dalmia Bharat posts 4Q net profit of INR240m16 June 2020, Published under Cement NewsDalmia Bharat reported a consolidated net profit of INR240m (US$3.2m) for the fourth quarter ended 31 March 2020. The company posted a net profit of INR2.63bn in the January-March quarter of the previous financial year, the company said in a regulatory filing. However, it cautioned against comparison of the latest results with the previous period as it has shifted to AS 116 standards from 1 April 2019. Dalmia Bharat’s revenues from operations was INR24.93bn in the 4QFY19-20, down from IN... |
VICEM Ha Tien Cement submits targets for 202016 June 2020, Published under Cement NewsVietnam’s VICEM Ha Tien Cement reported a five per cent YoY rise in net revenue to VND8839bn (US$379.79m) and profit before tax of VND928bn (up 14 per cent YoY) in 2019. However, Dinh Quang Dung, company chairman, stated that the company is projected to face risks in the form of COVID-19 and other factors in 2020. Therefore, several targets have been submitted to shareholders for the current year, including a production of 7.33Mt (level with 2019), revenue of VND8584bn (down three per cent... |
Arabian Cement reports 153% surge in profit to EGP15.9m15 June 2020, Published under Cement NewsEgypt’s Arabian Cement Co has reported a 153 per cent YoY surge in consolidated net profit for the first quarter of 2020, rising to EGP15.91m (US$983,519) from EGP6.3m in the 1Q19. Standalone net profit saw an even larger increase to EGP16.3m from EGP4.23m. |
Northern Region Cement sees 78% rise in profit15 June 2020, Published under Cement NewsSaudi Arabia’s Northern Region Cement Co has reported a 78 per cent increase in net profit to SAR27.6m (US$7.36m) in the first quarter of 2020, compared to SAR15.5m in the year-ago period. Revenue surged 44 per cent YoY to SAR180.1m from SAR124.3m in the 1Q19. The increase in profits has been attributed to higher sales volumes and lower financing charges. |
HeidelbergCement Trading names new CEO15 June 2020, Published under Cement NewsDr Carsten Sauerland will assume the role of CEO of HeidelbergCement Trading (HCT), effective 1 September 2020. Dr Carsten Sauerland becomes HC Trading's new CEO from 1 September 2020 In his new position, Mr Sauerland will report directly to Hakan Gurdal, member of the Managing Board of HeidelbergCement, who held the HCT CEO position on an interim basis. Dr Carsten Sauerland studied Business Administration and Management at the Universities of Mannheim and Barcelona and re... |
Boral appoints new CEO/MD15 June 2020, Published under Cement NewsAustralia-based Boral Ltd has appointed Zlatko Todorcevski as its new CEO and managing director, effective 1 July 2020. He succeeds Mike Kane, who will retire from Boral in September 2020. Mr Todorcevski has 30 years of experience in Australia and internationally in steel building products, oil and gas, and logistics, working in finance, business planning and strategy roles, including as chief financial officer of Brambles Ltd from 2012 to 2016 and Oil Search from 2009 to 2012. This foll... |
Akhangarancement sets record shipment figures in May12 June 2020, Published under Cement NewsUzbekistan’s Akhangarancement, part of Eurocement, shipped a record monthly shipment of more than 180,000t of cement in May 2020, up 10.6 per cent YoY. Gennady Kulikov, general director of Akhangarancement, praised the contribution of the clinker firing department, automotive workshop, cement shipping and packaging section, and the sales department in reaching the record level. "Despite the special mode of operation associated with the coronavirus pandemic, the enterprise team at all s... |
CRH Romania posts 15% turnover increase in 201912 June 2020, Published under Cement NewsCRH Romania reported a turnover of RON1.1bn (US$257.45m) in 2019, a 15 per cent YoY increase compared to the previous year, according to data published on Ministry of Finance's website. The company's profit exceeded RON100m, while the number of employees remained flat at around 720. The company has two cement factories in the country. |