Cement News tagged under: corporate
Eastern Province sees profit surge in 201920 March 2020, Published under Cement NewsSaudi cement producer Eastern Province Cement Co (EPCC) has posted a 158.7 per cent jump in profits to SAR181m (US$48.3m) in 2019, up from SAR70m in 2018. Revenues increased 28.8 per cent to SAR729m last year. The increase in net profits after zakat and tax has been attributed to higher sales volumes and prices, investment income and a lower zakat provision and a refund on a provision for credit losses. There was also a reduction in losses on disposal of property, plant and equipment, repo... |
Kunda Nordic Tsement to end clinker production19 March 2020, Published under Cement NewsHeidelbergCement-owned Kunda Nordic Tsement, Estonia, is to close its kiln line in March following a decision by the company’s supervisory board. The closure has been attributed to the considerable increase in CO 2 prices, which has had a significant impact on financial results. "We have reached a crossroads in Kunda, where a new dry-processing plant is needed to reduce the cost of production of clinker and meet the increasingly stringent environmental requirements that stakeholders exp... |
PPC sees volumes improve and price rises stick19 March 2020, Published under Cement NewsCement-maker PPC said lower levels of capital expenditure has helped offset lower earnings during the 11 months to end-February, with its southern African business starting to show signs of stabilisation even as it continues to face price pressures from increasing exports. The South African coastal business is experiencing a downturn in volumes affected by imports, while inland volumes are showing signs of improvement, the group said in a trading update. It has experienced average price inc... |
HeidelbergCement and Italcementi donate to northern Italy's fight against COVID-1919 March 2020, Published under Cement NewsTo alleviate the extremely tense situation of the local community and to support the fight against the coronavirus, HeidelbergCement and its Italian subsidiary Italcementi are each donating EUR100,000 to the Ospedale Papa Giovanni XXIII in Bergamo. Bergamo, where Italcementi is headquartered, is located in Lombardy in Northern Italy and is particularly hard hit by the current COVID-19 epidemic. Since February more than 400 people in this region have died from the virus. Last week, Italcemen... |
Chechencement to reach full capacity in 202018 March 2020, Published under Cement NewsChechencement in Russia’s Republic of Chechnya increased its production capacity by 34 per cent to 0.64Mta in 2019. It is expected to nearly double its output in 2020 to reach 1.2Mta, driving a 2.2 per cent increase in the republic industrial output, according to its economics and development ministry as reported in Journal Cement. To date the company has invested RUB1.3m (US$17.343) in the modernisation of its two production lines. A significant part of the funding for the project was prov... |
India Cements sees investors increase stake17 March 2020, Published under Cement NewsThe Damani family, one of India’s wealthiest, further increased their stake in India Cements from 11.98 per cent to 16 per cent through open market transactions on 16 March. This follows the family boosting their stake from 7.27 per cent to 11.98 per cent on 26 February 2020. |
Belarusian Cement receives ASB loan17 March 2020, Published under Cement NewsBelarus cement producer Belarusian Cement Co has received a BYN361,400 (US$153,607) loan from ASB Belarus. The loan will fund a new production line that is able to use refuse-derived fuel (RDF) as well as needed repairs at its Krasnoselstroymaterialy plant, reports Journal Cement. The cement works, which has a capacity of 1.6Mta, is currently carrying out repairs and a modernisation project that includes the replacement of the kiln lining and conveyor belts. In addition to supplying its d... |
City Cement reports 61% rise in profit16 March 2020, Published under Cement NewsSaudi Arabia’s City Cement has reported a 61 per cent YoY increase in net profit to SAR180.9m (US$48.2m) in 2019, rising from SAR112.3m in the previous year. The company’s total sales also advanced 54.1 per cent to SAR531.4m from SAR344.9m. |
Bim Son Cement announces sales targets for 202016 March 2020, Published under Cement NewsVietnam’s Bim Son Cement JSC has announced a sales target of 5.6Mt of cement and clinker in 2020, up 30.2 per cent compared to 4.3Mt in 2019. The company is also aiming to reach a pretax profit of VND265bn (US$11.42m) for the year, a rise of 35.6 per cent on VND195.5bn last year. |
Cementarnica Usje sees profit up 22%16 March 2020, Published under Cement NewsNorth Macedonia’s Cementarnica Usje (Titan Cement) has reported a 21.5 per cent YoY rise in profit to MKD1.27bn (US$23.15m) in 2019. Domestic sales advanced 8.2 per cent to MKD3.15bn, while international sales climbed 8.7 per cent to MKD1.64bn. Operating revenue increased by 9.5 per cent to MKD5.03bn. |