Cement News tagged under: corporate
Pakistan announces the much-anticipated construction package07 April 2020, Published under Cement NewsPakistan's Prime Minister, Imran Khan, last week announced the much-awaited Construction Package, which is mainly comprised of tax incentives for the construction industry. The sector has now been given the status of an industry. Economists and research houses called the package a boost for the construction and cement industries with little reservation and pointed out that while it looks very good on paper, the timing of its announcement is less than ideal, due to the atmosphere of uncert... |
Indian Saurashtra Cement resumes cement production in Gujarat06 April 2020, Published under Cement NewsAs the impact of COVID-19 appears to be subsiding in India, the domestic cement industry is planning to resume cement production with the state government's permission under all possible precaution measures. Saurashtra Cement has informed Bombay Stock Exchange Ltd on 5 April that the company has received permission from the state government of Gujarat in accordance with the guidelines of the central government. India's federal government said that production units with the need for a continu... |
Holcim Philippines closes Davao cement plant06 April 2020, Published under Cement NewsThe Philippines' leading cement-maker Holcim Philippines has suspended the operation of its manufacturing plant in Davao as the city was locked down until 19 April to contain the COVID-19 pandemic. The suspension of operations in Davao is in compliance with Mayor Sara Duterte's order to impose an enhanced community quarantine (ECQ) within Davao City starting 4 April. "While our Lugait plant in Misamis Oriental will continue to operate and serve the requirements of our business partners and... |
Dangote Cement looks to raise NGN100bn from bonds06 April 2020, Published under Cement NewsNigeria’s Dangote Cement is seeking to raise up to NGN100bn (US$257.23m) from the bond market, under its NGN300bn debt issuance programme. The funds from the company’s first offering in the bond market would be used to refinance existing short-term debt used for cement expansion projects, working capital and other corporate purposes, according to This Day. |
DG Khan Cement resumes production at Khofli site06 April 2020, Published under Cement NewsPakistan will decide on 14 April, whether to allow the gradual opening of non-essential industries under full preventive measures to prevent the spread of the coronavirus. Provincial governments are also contemplating opening of part of their industry. However, the country's cement industry has already received the government's go-ahead to start production. The cement industry had been hit hard by measures taken by federal and provincial governments to stop the spread. As a result, some m... |
Teploozersky Cement completes kiln maintenance project03 April 2020, Published under Cement NewsRussia’s Teploozersky Cement (Vostok Cement), based in the Far Eastern district, has completed the scheduled maintenance of its No 3 rotary kiln. Work on the kiln was focussed on correcting the position of the furnace units and repair. In addition, worn sections of the lining were corrected and operations have now resumed. The plant is currently completing the repair of Kiln 1. |
HeidelbergCement issues Eurobond with a volume of EUR650m03 April 2020, Published under Cement NewsHeidelbergCement priced a Eurobond issue (ISIN XS2154336338) under its EUR10bn EMTN programme with an issuance volume of EUR650m and a maturity date of 9 October 2024. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities. The 4.5-year bond bears a fixed coupon of 2.500 per cent annually. The issue price is at 99.605 per cent, resulting in a yield to maturity of 2.596 per cent. "With the successful placing of the bond, Heidel... |
Adelaide Brighton pulls 2020 profit guidance02 April 2020, Published under Cement NewsAustralia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to... |
Ambuja Cement of India profit grows in FY1902 April 2020, Published under Cement NewsAmbuja Cement Ltd of India has reported an increase in total income of 3.1 per cent and profit after tax (PAT) advance of 2.8 per cent during FY19, despite an increase of 0.6 per cent in operating expenses, according to detailed stand-alone financial result released recently. The total income increased to INR120.94bn (US$1.586bn) in 2019 from INR117.32bn in the year-ago period. PAT reached to INR15.29bn in 2019 from INR14.78bn in 2018. Operating expenses increased from INR94.65bn in 2018 t... |
Lehigh Hanson delays Mitchell expansion project02 April 2020, Published under Cement NewsUS-based Lehigh Hanson Inc has delayed the start of the US$600m expansion project at its Mitchell plant in Lawrence County, Indiana. Construction may be delayed by up to a year due to uncertainties resulting from the COVID-19 pandemic. The plant will reportedly continue to finalise the engineering and delivery of equipment but will limit the amount of site work during 2020 and will move it into early 2021. Therefore, the projected start-up date has been moved from September 2022 to the 3... |