Cement News tagged under: corporate
Royal Cement Benelux to distribute cement from Schiedam port03 March 2020, Published under Cement NewsRoyal Cement Benelux, part of Royal El Minya Cement and the Sesco Group, one of the largest providers of white cement in the world, announced that it has acquired a new 18,500m 2 facility in the port of Schiedam in The Netherlands. The port of Schiedam is part of the Port of Rotterdam. The new facility, which includes 13,500m 2 combined office, storage and operating space, will be the company's second European location. Available on the premises is 160 M1 Quay, which can receive ships up ... |
Pioneer Cement appoints new CEO, posted loss during 1HY1903 March 2020, Published under Cement NewsPioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company local sales slightly decreased by 2.8 per cent to PKR6.85bn from PKR7.05bn in the same period last yea... |
Dangote Cement plans 1Mta grinding unit in Gabon02 March 2020, Published under Cement NewsDangote Cement will construct a new 3000tpd clinker grinding plant in Gabon, representing an investment of US$75m, according to Dangote Group President, Alhaji Aliko Dangote. The new 1Mta cement plant will be built on a plot of over 10.5ha in the Owendo area, adjacent to the New Owendo International Port, just outside the country’s capital, Libreville. The plant is expected to help expand the spread of Dangote’s production facilities and reduce transport costs, according to Devakumar Edw... |
Pioneer Cement signs limestone development agreement in Georgia02 March 2020, Published under Cement NewsRaysut Cement's UAE subsidiary, Pioneer Cement, has signed an agreement for the development of a limestone mine in Georgia. Under the 10-year deal SFL International will pay a royalty to Pioneer Cement for mining the limestone deposits. Pioneer Cement owns the concession to limestone mines in Georgia where it is currently set to construct a 1.2Mta cement plant. The plant will be located near Tbilisi, adjacent to the limestone mines. The value of the project is estimated at US$200m. Georgi... |
Dangote Cameroon sees 7% sales drop in 201902 March 2020, Published under Cement NewsSales volumes of Dangote Cameroon fell 6.5 per cent YoY to 1.1Mt in 2019. Cement prices averaged at US$108/t in the financial year. "We had to deal with a drop in volumes due to security problems in the North West and South West region of the country as well as new competitor capacities. Overall, volumes were down 6.5 per cent in 2019 from 2018 due to increased competition in key markets, "said Dangote in its annual report. The company expects to improve its sales in 2020 due to the const... |
Ciments du Maroc turnover falls in 201902 March 2020, Published under Cement NewsThe unaudited consolidated turnover of Ciments du Maroc slipped by 0.8 per cent YoY to MAD3.89bn (US$405.8m) in 2019 despite an improvement in the cement market. The fall was due to a decline in concrete sales, which offset the positive development of cement sales, said the company. |
Tabuk Cement posts SAR24.2m profit in 201902 March 2020, Published under Cement NewsSaudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices. |
Flying Cement and Dandot Cement post losses during 1HY1902 March 2020, Published under Cement NewsPakistani cement companies have been declaring losses or fall in profit during the last six months of ongoing fiscal year of 2019-20 on account of falling revenue, high cost of sales and financing charges. Flying Cement Co reported a loss after taxation of PKR293.4m (US$1.9m) during the half-year ended 31 December 2019 compared to profit of PKR77.7m earned in corresponding period last year. The key factor in the loss is the high cost of sales and reduced revenue during this period. Compan... |
Misr Cement-Qena reports 84% profit drop in 201902 March 2020, Published under Cement NewsEgypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statement to the Egyptian Exchange. Sales fell to EGP3.1226bn in 2019, down from EGP3.1229bn the previous year. Stand-alone net profits more than halved from EGP76.54m in 2018 to EGP35.24m in 2019. |
Fecto Cement posts loss in 1HY1902 March 2020, Published under Cement NewsFecto Cement Ltd has informed Pakistan Stock Exchange that it has posted a loss of PKR299m (US$1.48m) for the half year ended 31 December 2019 as compared to profit PKR105m, earned in the same period last year. The losses are attributed to a slide in net turnover, which decreased by 22.91 per cent to PKR1.91bn from PKR2.28bn in the same period last year. The company incurred a lesser administrative expenses and distribution costs of PKR121m and PKR62m against PKR143m and PKR102m, respectiv... |