Cement News tagged under: corporate
Power Cement to become No 2 in south Pakistan09 October 2019, Published under Cement NewsPower Cement Ltd (PCL) is set to complete the brownfield expansion at its existing production site by adding a new line of 7700tpd (2.5Mta), taking the plant’s total capacity to around 3.4Mta. The project is currently in its testing phase and commissioning will start in 2020. Once online, the project will make the company the second-largest cement producer in southern Pakistan. The expansion project is meets IFC and World Bank environmental standards and is one of the most cost-efficient ... |
NCL Industries sees 24% decline in production09 October 2019, Published under Cement NewsIndia’s NCL Industries has reported a 24 per cent decline in cement production to 371,000t in the 2QFY19-20, falling from 488,000t in the year-ago period. Cement dispatches also decreased by 25 per cent YoY to 367,000t from 488,000t. Elsewhere, the company's production of cement boards rose 12 per cent YoY to 18,503t for the second quarter, however, dispatches declined nine per cent to 15,140t. |
Hanson Cement appoints new Technical Manager09 October 2019, Published under Cement NewsNina Cardinal has joined Hanson Cement as its new national technical manager. Ms Cardinal heads up the division’s technical team, which offers customers advice, information and support on all cement and cementitious issues. Ms Cardinal previously worked at Tata Speciality Steels for more than 20 years, latterly as technical director responsible for a 70-strong team, before joining the University of Sheffield in 2016 as director of operations in the Faculty of Science. "I am delighted to jo... |
Raysut Cement set to begin construction of new plant in Georgia08 October 2019, Published under Cement NewsUAE-based Pioneer Cement (Raysut Cement Co) is currently finalising arrangements for its greenfield 1.2Mta project to be located near Tbilisi, Georgia. Pioneer Cement owns concessions to limestone mines in Georgia that will provide the key raw materials for the project. The new unit is an opportunity to diversify from the Middle East into a market with large infrastructure growth and a shortage of clinker and high-quality cement, said the company in a statement. "We have embarked on an... |
Flying Cement profits recede in FY1908 October 2019, Published under Cement NewsFlying Cement Company Ltd (FCCL) of Pakistan has announced its financial results for FY19. It declared a net profit of PKR142.36m (US$0.9m) against PKR181.5m earned in the same period last year. FCCL showed a profit dropped by 21.6 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR3bn from PKR2.6bn during this period, despite increase in sale. The company sales stood at PKR3.2bn compared to PKR2.9bn in the same accounting period last year. The distribut... |
Steppe Cement suffers weak 3Q1908 October 2019, Published under Cement NewsSteppe Cement Ltd of Kazakhstan had a weak third-quarter performance but said year-to-date revenue benefitted from rising cement prices. The construction materials producer said revenue in the three months to the end of September was 10 per cent lower compared with the prior year, at KZT10.56bn (US$27.1m). A cement sales volume of 576,692t was achieved by Steppe Cement during the 3Q19, an 11 per cent decrease from the 3Q18. However, for the first nine months of 2019 revenue rose by 10 per... |
Adelaide Brighton makes new appointment08 October 2019, Published under Cement NewsAustralia’s Adelaide Brighton Ltd has announced the appointment of Emma Stein as an independent non-executive director. Ms Stein has previously held several board and senior executive positions in the building materials, energy, mining and waste management sectors, according to a press release. "We welcome the wealth of experience Ms Stein brings to the Adelaide Brighton board and look forward to working with Emma," said Raymond Barro, chairman of the company. Elsewhere, Arlene Tansey wil... |
Gharibwal Cement 51% profit fall in FY18-1907 October 2019, Published under Cement NewsGharibwal Cement Ltd (GWLC) has released its financial results for the year ended 30 June 2019. The company earned a net profit of PKR736m (US$6.7m) as compared to PKR1.509bn earned in the same period last year, which decreased by 51.2 per cent. The fall in profit has been attributed to a decline in sales and an increase in finance expense. According to company results, sales decreased by three per cent to PKR11.35bn YoY, as compared to PKR11.70bn in the same period last year. Administrat... |
Power Cement reports 11% fall in sales07 October 2019, Published under Cement NewsPakistan’s Power Cement Ltd has reported a 11.2 per cent decline in net sales to PKR3.85bn (US$24.5m) in the FY19 ended 30 June, falling from PKR4.34bn in the year-ago period. Gross profit was down 76.7 per cent YoY to PKR157.28m in the period. However, profit after tax increased 82 per cent to PKR582.1m from PKR319.9m. |
Pioneer Cement profit shrinks by 52% in FY1907 October 2019, Published under Cement NewsPioneer Cement Ltd (PIOC) of Pakistan has announced its financial results for the year ended 30 June 2019 today. It earned a net profit of PKR790m (US$5m) as compared to PKR1.644bn earned in the same period last year – falling by 52 per cent YoY. Sales declined from PKR10.12bn to PKR9.73bn during this accounting period. The drop in profit is reportedly due to increase in the cost of sales to PKR7.598bn from PKR7.310bn and an increase in finance cost from PKR94m to PKR270m during this report... |