Cement News tagged under: corporate
Lafarge Cement appoints new Cookstown plant manager12 June 2020, Published under Cement NewsLafarge Cement (Aggregate Industries) has appointed John Mulgrew as the new plant manager of its renowned Cookstown cement plant in Northern Ireland. Mr Mulgrew succeeds Russell Larmour who, after nearly 40 years with the company, will be retiring. He will report to Barry Hope, executive committee director of cement at Aggregate Industries. Mr Mulgrew has risen through the ranks of the company’s Cookstown cement plant in County Tyrone, which in 2015 became a part of Aggregate Industries UK... |
PIC reduces shareholding in PPC12 June 2020, Published under Cement NewsPPC's largest shareholder, Public Investment Corp (PIC) has reduced its shareholding in the South African cement producer from 25 to 19.92 per cent. "The PIC’s disposal of shares in PPC on 28 May 2020 is part of rebalancing its listed investment portfolio in the ordinary course of the PIC’s business," said Deon Botha, the head of corporate affairs at the asset manager. PPC is in the process of finalising its results for the year-ended 31 March 2020. Due to the restrictions placed on the gr... |
Steppe Cement records net profit of US$9.7m in 201911 June 2020, Published under Cement NewsSteppe Cement has released its annual results for 2019 and records a net profit of US$9.7m. EBITDA increased to US$23.9m from US$21.4m in 2018 aided by higher prices. The Kazakhstan-based producer sold 1.715Mt in 2019, compared to 1.72Mt in 2018. The company's domestic cement sales grew by four per cent, while its exports fell by 29 per cent due to increased competition from new plants in Uzbekistan and Kyrgyzstan, and the strength of the tenge against the som in the 2H19. Both kiln lines... |
Semen Indonesia Group sees 37% fall in May sales11 June 2020, Published under Cement NewsSemen Indonesia Group (SIG) reported a 36.7 per cent drop in sales to 2,114,125t in May 2020 when compared with 3,338,768t in May 2019. Of this total Semen Indonesia, including SBI, saw sales decline by 38.5 per cent YoY to 1,936,752t (May 2019: 3,149,339t). The company’s domestic deliveries fell by 42.6 per cent YoY to 1,581,892t while exports were down 10.3 per cent to 354,860t when compared with May 2019. In addition, Thang Long Cement Co (TLCC) posted a 6.4 per cent drop in sales to ... |
Raysut Cement posts loss in 1Q2011 June 2020, Published under Cement NewsOman’s Raysut Cement has posted an OMR4m (US$10.4m) loss after tax in the first quarter of 2020, compared to an OMR242,951 profit in the corresponding period of last year, according to Reuters. However, revenue advanced 11.3 per cent YoY to OMR25.6m from OMR23m. |
Qena Cement's 1Q20 cement sales surge to EGP47m10 June 2020, Published under Cement NewsQena Cement reports net profits surged to EGP47m (US$2.9m) in the 1Q20, compared to EGP12m for the same period of the preceding year. Standalone net sales revenues grew by 5.5 per cent in the quarter, while net debt shrank by 20 per cent, falling from EGP607m to EGP485m, compared to 1Q19. The group has successfully increased its consolidated net sales revenues by 2.6 per cent, marking EGP816m in the 1Q20, versus EGP795m for the same period of the preceding year. Net sales revenues climbed t... |
Taiwan's cement producers see mixed results in May10 June 2020, Published under Cement NewsTaiwan Cement Corp has reported a 5.7 per cent YoY fall in revenue to TWD10.29bn (US$347.6m) for May 2020, compared with TWD10.9bn in the same month last year. In the first five months of the year, revenue declined 9.3 per cent to TWD42.48bn from TWD46.86bn. Elsewhere, Universal Cement Corp saw its revenue for the month down 4.3 per cent to TWD403.1m from TWD421.3m in May 2019. However, in the 5M20 revenue advanced 5.5 per cent YoY to TWD2.14bn. In May 2020, Lucky Cement’s revenue increas... |
Start-up of Fancesa project postponed to 1Q2110 June 2020, Published under Cement NewsThe coronavirus pandemic has seen a readjustment of the work schedule of the new plant being built in Sucre, Bolivia, by Fancesa as COVID-19 forced a 70-day quarantine upon the project. Start-up of the cement plant is now expected in the first quarter of 2021. While the project currently stands at 91 per cent completion, the remaining share of the work is the “most complicated”, according to Armin Cortez, chairman of the Board. "It should be remembered that we have had setbacks not only d... |
Hsing Ta Cement sees 12% fall in revenue for May10 June 2020, Published under Cement NewsTaiwan’s Hsing Ta Cement saw an 11.7 per cent drop in revenue to TWD706.9m (US$23.77m) for May 2020, compared to TWD800.4m in the same month last year. In the first five months of the year, revenue declined 9.2 per cent YoY to TWD2.64bn from TWD2.91bn in the year-ago period. |
Sharjah Cement reports net loss in 1Q2009 June 2020, Published under Cement NewsUAE-based Sharjah Cement has reported a net loss of AED9.3m (US$2.5m) in the first quarter of 2020, compared to an AED802,000 net profit in the corresponding period of last year. The company’s consolidated revenue also fell 16.3 per cent YoY to AED128.16m from AED153.1m in the 1Q19. |