Cement News tagged under: corporate
Ambuja Cement and ACC fund NGOs to tackle COVID-1928 April 2020, Published under Cement NewsAmbuja Cements Ltd and ACC Ltd (LafargeHolcim group) have collectively contributed INR3.3m (US$0.43m) to three non-government organisations (NGOs) to support daily-wagers, migrant labour, slum-dwellers and the homeless stranded across the country on account of the lockdown. Ambuja Cement and ACC are supporting Goonj, an NGO renowned for being on the forefront of disaster relief with expertise in material management, as well as Praja Foundation and Mumbai Roti Bank, who are working exten... |
JK Cement receives permission to restart operations28 April 2020, Published under Cement NewsIndia’s JK Cement has received permission from the relevant authorities to commence operations at its Rajasthan, Madhya Pradesh and Haryana sites, alongside work at its new project in Gujarat. As a result, operations have partially resumed or are being resumed after starting all necessary safety measures for staff, said the company. |
Najran Cement signs financing agreement28 April 2020, Published under Cement NewsSaudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year. |
HeidelbergCement Bangladesh profits hit by multiple factors27 April 2020, Published under Cement NewsHeidelbergCement Bangladesh posted an unaudited net profit of BDT43.5m (US$0.513m) for the first quarter of 2020, against earnings of BDT193m in the 1Q19. The fall in profit is attributed to an increase in cost of goods sold, alongside increased warehousing, distribution, selling and administrative expenses. The total revenue, however, increased to BDT3.82bn from BDT3.61bn. The cost of sales stood at BDT3.374bn. It also reported a higher distribution cost of BDT114.4m against BDT89m in s... |
Mixed pattern in financial results visible in 9MFY2027 April 2020, Published under Cement NewsThree more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors. Lucky Cement Lucky Cement reported that with the current economic challenges due to COVID-19 and post relaxation lockdown in... |
Cemex adds hygiene and safety protocols to minimise COVID-19 risk27 April 2020, Published under Cement NewsCemex has implemented more than 50 new hygiene and safety protocols to minimise the risk of COVID-19 contagion in its cement, ready-mix and aggregates operations. "Due to this pandemic, we have complemented our existing protocols by developing and implementing special protocols and guidelines to protect our employees, communities and customers from COVID-19 risk," said Fernando A González, CEO of Cemex. Cemex is also leveraging its existing digital technologies to limit physical contact an... |
Mixed results announced by Pakistani cement companies for 9MFY2024 April 2020, Published under Cement NewsThree Pakistani cement companies have announced their 9MFY19-20 financial results. DG Khan Cement Co Ltd and Kohat Cement Co Ltd have reported losses, but luckily Attock Cement Ltd has reported only a fall in profit during this financial period. Analysts have attributed losses to a combination of factors, including a significant drop in retention prices in both local and export markets, an increase in finance cost, higher energy tariffs and an increase in transportation cost following the i... |
Taiheiyo Cement Corp signs MoU with Solusi Bangun Indonesia24 April 2020, Published under Cement NewsPT Semen Indonesia Tbk (SMGR), together with its affiliate PT Solusi Bangun Indonesia Tbk (SMCB), signed a memorandum of understanding (MoU) with Taiheiyo Cement Corp (TCC) on 21 April 2020. The initial agreement is to carry out investment and strategic cooperation between the parties. It includes an investment plan by TCC in SMCB, an agreement on exports to TCC and a partnership plan with TCC. The investment referred to in the MoU is related to the TCC's plan to make an investment in SMCB ... |
Umm Al Qura reports net profit surge in 1Q2024 April 2020, Published under Cement NewsSaudi Arabia’s Umm Al Qura has seen its net profit increase 79.1 per cent YoY to SAR38.5m (US$10.27m) in the first quarter of 2020, rising from SAR21.5m in the year-ago period. Quarterly sales surged 52 per cent to SAR96.5m from SAR63.5m. Average selling prices were also reported to have improved in the 1Q20. |
Najran Cement Co reports positive 1Q20 results24 April 2020, Published under Cement NewsSaudi Arabia’s Najran Cement Co has reported a 557.4 per cent surge in net profit to SAR40.1m (US$10.69m) in the first quarter of 2020, compared to SAR6.1m in the 1Q19. Sales advanced to SAR156.4m from SAR106.5m, on the back of a lower cost of sales and financing. |