Cement News tagged under: corporate
Raysut Cement records surge in profit for 201915 January 2020, Published under Cement NewsOman’s Raysut Cement Co has seen a 1156.9 per cent surge in profit to OMR4.3m (US$11.2m) in its unaudited results for 2019, compared to OMR343,652 in the previous year. However, total revenue has decreased 7.6 per cent YoY to OMR85.68m from OMR92.76m in 2018. |
Gansu Qilianshan Cement expects 85% rise in profit15 January 2020, Published under Cement NewsChina’s Gansu Qilianshan Cement expects to realise a net profit of around CNY1.21bn (US$174m) in 2019, an increase of approximately 85 per cent compared to CNY654.8m last year. The company has attributed the results to an increase in product sales and improved cost control after upgrading the efficiency of its production and operations. |
Zeal Pak Cement of Pakistan struggles to survive15 January 2020, Published under Cement NewsPakistan oldest cement factory, Zeal Pak Cement Ltd, has informed Pakistan Stock Exchange (PSX) last week about management efforts to make it a viable plant. To date it has been running losses due to number of factors, including the old technology. According to Masood ul Hassan, group general manager of the company, said the management is running the factory at a continuous loss and only for its survival to provide employment. The company is facing a huge financial crisis. Established i... |
West China Cement has new CFO15 January 2020, Published under Cement NewsChu Yufeng has been appointed chief financial officer of West China Cement. The company stated that his predecessor Chan King Sau ceased to be CFO, according to Reuters. |
Saudi Cement invest SAR23m in Bahrain's United Cement14 January 2020, Published under Cement NewsSaudi Arabian Cement has bought a stake in United Cement Co BSC of Bahrain from Esterad Investment Co for SAR23m (US$6.13m). The sale is for a 36 per cent stake in United Cement, which is located in Adliya. United Cement operates a a bulk fleet of transport ships with a capacity of 3000t each and can supply more than 80,000tpm of cement to Bahrain from the GCC region. The company trades OPC, sulphate-resistant cement and white Portland cement in bulk and bagged forms. United Cement was ori... |
Eagle Materials' acquisition of Kosmos receives approval14 January 2020, Published under Cement NewsThe US-based Federal Trade Commission (FTC) has cleared Eagle Materials Inc’s agreement to acquire certain assets from Kosmos Cement Company, Kentucky, a joint venture between Cemex and Buzzi Unicem. The anti-trust approval was received on 9 January. The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves. The net proceeds obtained from this transaction will be distributed to Cemex and Buzzi Unicem in... |
PT Semen Indonesia to concentrate on strengthening regional market position13 January 2020, Published under Cement NewsHendi Prio Santoso, managing director of PT Semen Indonesia Tbk (SMGR), has stated that the company will focus on developing derivative products and expanding into regional markets. "As an integrated provider of building material solutions, the affirmation of the company's focus is very important to maintain a sustainable growth trend in the future," said Mr Santoso. He was very grateful for the company's performance achievements in 2019. In the midst of increasingly-fierce industry compet... |
Pooling of resources between Fauji Cement and Askari Cement13 January 2020, Published under Cement NewsFauji Cement Company Ltd has informed Pakistan Stock Exchange (PSX) that its 11th Extraordinary General Meeting (EGM) was held on 10 January 2020 and two important resolutions were adopted by the shareholders for sharing resources amongst two cement units. The first resolution for approval and authorisation was the resource sharing arrangement to be entered into with Askari Cement Ltd (ACL). The second resolution approved an equity investment of up to PKR200m (US$1.29m) in the associate... |
Steppe Cement posts 8% revenue rise in 201913 January 2020, Published under Cement NewsKazakhstan-based Steppe Cement has posted revenues of KZT30.534bn (US$81m) for the year ended 31 December 2019. This represents a rise of eight per cent when compared with 2018. The company sold 1,715,761t of cement in 2019, marginally lower than the previous year. Steppe Cement is the country's fourth-largest cement producer with a total cement capacity of 1.9Mta. It operates two plants in Karaganda: the 1.1Mta Central Asia Cement works and the 0.8Mta Karcement unit. |
FLSmidth appoints new Mining Industry President13 January 2020, Published under Cement NewsMikko Keto will join FLSmidth as President, Mining Industry and member of Group Executive Management. The appointment comes following Manfred Schaffer’s decision to retire in 2020. Mikko Keto joins FLSmidth from Metso, where he has worked for 10 years of which the last two years as President, Minerals Services and Pumps. He also served as a member of the company's Executive Team. FLSmidth CEO, Thomas Schulz, said: "Mikko Keto will lead the FLSmidth Mining organisation in capturing profit... |