Cement News tagged under: corporate
Yamama Cement sees revenue surge 73% in the 3Q1916 October 2019, Published under Cement NewsSaudi Arabia’s Yamama Cement Co has returned to profit in the 3Q19, posting a SAR45.7m (US$12.1m) profit against losses of SAR46.3m in the year-ago quarter. Revenue also surged 73.1 per cent YoY to SAR186.5m. In the first nine months of 2019, net profits reached SAR178.5m compared to a SAR58.7m loss in the 9M18. The company also recorded a 56.8 per cent YoY increase in revenue to SAR565.7m from SAR360.8m. |
Al-Maslamia cement plant expected to be privatised15 October 2019, Published under Cement NewsThe Al-Maslamia cement plant in northern Aleppo, Syria, has been the subject of negotiations between Katerji International Group and Syria's General Organisation for Cement and Building Materials. The 3Mta cement plant could be the first state plant to be privatised in a SYP200bn (US$3.9m) investment by the Katerji family. The Katerji International Group is owned by the brothers Husam, Mohammed and Baraa Katerji. The family intend to reconstruct property in and around Aleppo. Over the p... |
Attock Cement profit falls 16% in 1QFY19-2015 October 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period. Other factors that led to the profit fall were the increase in distribution cost, administrative expenses and finance cost, says a notific... |
GuarantCo files a petition for insolvency against Calcom Cement15 October 2019, Published under Cement NewsMauritius-based GuarantCo has filed a petition for insolvency against Calcom Cement India (Dalmia Cement (Bharat)), regarding an alleged non-payment of around INR1bn (US$14m). GuarantCo, a financial creditor of the cement manufacturer, filed the insolvency petition against the company at the Guwahati bench of the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code (IBC), according to The Financial Express. According to the petition, there was a total... |
LafargeHolcim and ADEME Occitanie inaugurate new waste processing plant15 October 2019, Published under Cement NewsLafargeHolcim and the French environment and energy agency ADEME have inaugurated a new solid waste processing plant at LafargeHolcim’s Port-la-Nouvelle. The facility will process non-hazardous solid waste into to an alternative fuel for the cement plant. The EUR7.5m investment will enable the Port-la-Nouvelle works to target a thermal substitution rate of over 90 per cent by 2022 and as a result, contribute to the cement producer’s plans to reduce its greenhouse gas emissions. The project... |
Raysut Cement sees 9% decline in revenue for 9M1915 October 2019, Published under Cement NewsOman’s Raysut Cement Co has announced an 8.5 per cent fall in total revenue to OMR62.13m (US$161.58m) in the nine months ended 30 September 2019, compared with OMR67.89m in the year-ago period. Profit before tax declined 65 per cent YoY to OMR1.01m in the 9M19, while profit after tax decreased 49.2 per cent to OMR1.01m from OMR1.99m. |
Holcim Croatia acquires Readymix Croatia15 October 2019, Published under Cement NewsHolcim Croatia has acquired Readymix Croatia and is expected to invest in a newly-acquired quarry site following the transaction. Although the financial details of the deal were not released, the company noted that it is its fourth quarry in the domestic market. The quarry site in Vranje, Lupoglav, is strategically located due to construction projects that will take place in this area over the coming years, including the construction of the Istrian Y, the second tunnel tube through Učka, a... |
Kwanza Sul to increase output to 1.05Mta14 October 2019, Published under Cement NewsFrom 2020 Fábrica de Cimento do Kwanza-Sul (FCKS) plans to increase production at its Sumbe plant in Angola to 70 per cent of its 1.5Mta cement capacity, according to its Director of Human Resources and Administration, Joaquim Manuel. This will lift output to 1.05Mta. Achieving an output of 1.05Mta will enable the company to meet the growing demand from public and private projects. At present, the plant runs at 30 per cent, or 0.45Mt, of its capacity. Mr Manuel attributes the low utilisati... |
FLSmidth adjusts 2019 EBITDA guidance14 October 2019, Published under Cement NewsFLSmidth revises its financial guidance for the full-year 2019. Revenue is now expected to be in the range of DKK20-21bn (US$2.95-3bn). The EBITA margin is now expected to be around eight per cent down from previous estimates of 9-10 per cent. Return on capital employed is now expected to be 10-12 per cent (previously 12-14 per cent). FLSmidth specified that it expected the full-year EBITA margin to be in the lower end of the range of 9-10 per cent due to 'a different development in busin... |
Semen Indonesia replaces Holcim brand with Dynamix14 October 2019, Published under Cement NewsAfter being acquired by PT Semen Indonesia (Persero) Tbk, PT Solusi Bangun Indonesia Tbk (SBI) has changed its Holcim cement brand to Dynamix. The name change was carried out as an effort to strengthen competitiveness in an increasingly-competitive national market, said the company. SBI President Director, Aulia Mulki Oemar, said that the brand replacement was part of the company's transformation process. With SBI's experience, support from partners, and wide network integration, Ms Oemar h... |