Cement News tagged under: corporate
Hail Cement reports profit rise in 201904 February 2020, Published under Cement NewsSaudi cement producer Hail Cement has posted a net profit after zakat and tax of SAR59.7m (US$15.9m) in 2019 following a loss of SAR25m in 2018. The company increased its sales from SAR196m in 2018 to SAR274.4m in 2019. |
Raysut Cement plans to acquire 75% stake in LafargeHolcim Maldives03 February 2020, Published under Cement NewsOman’s Raysut Cement Co has reportedly begun discussions to acquire a 75 per cent stake in LafargeHolcim Maldives. The board has approved the move in principle and the company is in talks to acquire the stake from Switzerland-based Cementia AG. |
National Cement Co of Alabama breaks ground03 February 2020, Published under Cement NewsNational Cement Co of Alabama (Vicat group), has broken ground on its US$250m expansion of the plant in the Saint Clair County town of Ragland, USA. The expansion project is built adjacent to the company's existing plant on Highway 144. The expansion, expected to be completed by 2022, and the biggest economic project in a seven-county region of central Alabama. It is by far the town's biggest employer and a huge part of the economy, according to the town's mayor. "This investment is going... |
Qassim Cement sees net profit treble in 201903 February 2020, Published under Cement NewsSaudi Arabia-based Qassim Cement Co reported a 83.7 per cent increase in revenue to SAR781.9m (US$208.5m) in 2019 from SAR425.7m in 2018. The company net profit after zakat and tax nearly trebled to SAR360.7m in 2019. In 2018 it was SAR120.8m. The company attributes the improvements to a rise in sales and an increase in average selling price. |
Cemex's Lloseta cement plant to become an aggregates facility03 February 2020, Published under Cement NewsCemex's closed cement plant in Lloseta, in Mallorca, Spain, has been passed by the Balearic Environment Commission to be adapted into an aggregates plant. Proposals for the site had been invited in May 2019, when the government made the site a Strategic Industrial Project. The best option has been to keep the Can Negret quarry operating and to grant approval for a new aggregates plant on the former cement plant site. Cemex has a licence to mine the quarry until 2072. The new facility is ex... |
Dominik von Achten appointed new chairman of HeidelbergCement03 February 2020, Published under Cement NewsDr Dominik von Achten becomes the new chairman of the Managing Board of HeidelbergCement on 1 February 2020. Dr Dominik von Achten, 54, will take over the chairmanship of the Managing Board of HeidelbergCement. He has been Deputy Chairman of the Managing Board since 2015, and succeeds Dr Bernd Scheifele, 61, who will step down from the role of chairman on 31 January 2020 after his third term of office to enter retirement. "With Dr Dominik von Achten, a competent, recognised, and internatio... |
Tokyo Cement Co (Lanka) Ltd sees revenues fall in 4Q1931 January 2020, Published under Cement NewsTokyo Cement Co (Lanka) Ltd earned profits of LKR257m (US$1.42m) in the December quarter. Revenues fell 13 per cent to LKR8.2bn in the quarter, but cost of sales fell at a faster 23 per cent to LKR6bn, helping grow gross profits 32 per cent to LKR2.2bn. In addition, distribution expense grew 18 per cent to LKR1.05bn. Sri Lanka has cut value added tax on cement, but also tightened price controls. Tokyo Cement Co (Lanka) Ltd runs grinding plants in the country and also distributes imported... |
Revati Cement plans 3Mta unit in Madhya Pradesh31 January 2020, Published under Cement NewsIndia’s Revati Cement has announced plans to set up a greenfield integrated cement plant in Satna, Madhya Pradesh. The project is expected to have a cement and clinker capacity of 3Mta and 2.5Mta, respectively, while also using a 45MW captive power plant. The company is reportedly awaiting environmental clearance for the project. |
Wonder Cement launches new grinding unit31 January 2020, Published under Cement NewsIndia’s Wonder Cement has launched operations at its new 2Mta grinding unit in Bhadnawar, Madhya Pradesh. This plant will be followed by the commissioning of another grinding unit in Jhajjar, Haryana, later this year, with both projects representing a total investment of INR8bn (US$112.09m). The clinker for the plant will be supplied from the company’s production facility in Nimbahera, Rajasthan. "Now, we will be able to supply our cement in the rest of Madhya Pradesh", said Vivek Patni, d... |
Birla Corp sees 200% rise in net profit31 January 2020, Published under Cement NewsIndia’s Birla Corp has announced a 200 per cent YoY increase in its net profit to INR810m (US$11.32m) for the 3QFY19-20, while revenue advanced 10.7 per cent to INR17.35bn. EBITDA climbed 44 per cent YoY to reach INR3.15bn for the period. Total sales by volume rose seven per cent YoY to 3.4Mt in the quarter ending December 2019. The company’s capacity utilisation also grew five per cent to 87 per cent. |