Cement News tagged under: corporate
Holcim Philippines inaugurates new facilities at Bulacan unit24 September 2019, Published under Cement NewsHolcim Philippines has inaugurated new storage and loading facilities at its plant in Norzagaray, Bulacan, which it hopes will help boost production. The additions include a new warehouse with six loading bays and new packing and loading machines. "This is the third site we are holding inauguration activities at this year as our company continues investments to strengthen our ability to support our customers nationwide," said John Stull, CEO, Holcim Philippines. "This is part of our greate... |
EAPCC dismisses all top managers24 September 2019, Published under Cement NewsEast African Portland Cement Co (EAPCC) has dismissed all of its top managers as part of a restructuring plan that will see the cement producer sell 2000 acres of prime but unused land in Mavoko, Machakos, Kenya, to boost its finances. A total of 136 supervisors and managers were issued with dismissal notices last week although it is expected to rehire some of them on 40 per cent of their previous pay. “We will give the affected workers first priority to re-apply for their positions under ... |
Lafarge Malaysia shareholders vote down RPTs with YTL Cement24 September 2019, Published under Cement NewsMinority shareholders of Lafarge Malaysia have voted down a plan to enter into recurrent related party transactions (RPTs) with YTL Cement, estimated to be worth about MYR3.5bn (US$837.92m). The proposal was rejected by 76 per cent of the shareholders, according to a bourse filing. The RPTs would have allowed Lafarge to deal with YTL on the sale and purchase of clinker, cement and pulverised ash, and also fees for services and rental of properties in Johor and Singapore. |
Thatta Cement profit falls by 40% in FY1924 September 2019, Published under Cement NewsThatta Cement Co Ltd (THCCL) of Pakistan has announced its financial results for FY19. It declared earning of net profit of PKR213m (US$1.36m)(unconsolidated) as compared to PKR356m earned in the same period last year. The company's profit dropped by 40.2 per cent despite increase in sales, which stood at PKR3.468bn compared to PKR2.842bn in the same period last year. The company incurred a higher distribution cost of PKR220m against PKR70m in the same period last year. Administrative ex... |
ARM and East Africa Portland's forced to cease production23 September 2019, Published under Cement NewsBoth ARM and East Africa Portland Cement are experiencing major operational challenges that have inhibited their ability to produce any cement. "ARM Cement and East African Portland Cement Company, are currently experiencing some problems that have led to ceasing of production," said Apex Capital. The court battle between Rai Cement and National Cement has stalled the sale of ARM and Stanic Bank has threatened to freeze worker's salaries. The administrators for ARM, PricewaterhouseCoopers ... |
West China Cement to set up cement joint venture23 September 2019, Published under Cement NewsWest China Cement subsidiary West International, CIF-MOZ, Oceanic Star and Guhava have entered into a cooperation agreement to establish a joint venture for joint investment and construction of a cement production line in Mozambique. West International, CIF-MOZ, Oceanic Star and Guhava will contribute MZN60m, MZN21m, MZN14m and MZN5m, respectively, to the registered capital of the joint venture and will hold 60, 21, 14 and five per cent, respectively of JV equity interests, respectively. ... |
High interest rates impacting cement companies in Pakistan23 September 2019, Published under Cement NewsPakistani cement industry profitability in FY19 and moving forward is likely to be dented by high interest rates/financing cost as being reported by number of cement companies in country. According to a research report of BMA Research, multiple increases in interest rates in the last 20 months have increased finance costs significantly and cement companies may want to reduce this debt burden. As a result, analysts are of the view that this increased burden coupled with the economic slowdo... |
Dalmia to build 0.5Mta carbon capture facility20 September 2019, Published under Cement NewsAs part of its drive to become a carbon-negative by 2040, Dalmia Cement announced plans to build a 0.5Mta carbon capture facility at its cement plant in Tamil Nadu in 2-3 years. “The company is committed to become ‘carbon-negative by 2040’, and capturing process emissions from cement manufacturing will be critical towards reaching the target of net zero by 2040,” said Mahendra Singhi, MD and CEO, Dalmia Cement (Bharat) Ltd. The approach is to set up scalable large demonstration projects o... |
Phinma Corp set to invest in Vietnam's Song Lam Cement20 September 2019, Published under Cement NewsPhilippine-based Phinma Corp is set to invest in Vietnam’s Song Lam Cement JSC through the acquisition of preferred shares worth PHP2.6bn (US$50m). Song Lam will now become a major supplier of PhilCement Corp, which is 60 per cent owned by Phinma, according to a company disclosure. Following the investment, Phinma will be entitled to nominate one member of Song Lam’s board of directors and the chief financial officer of the company. In the 1H19 Phinma saw its consolidated net income inc... |
Maple Leaf Cement profit falls by 60% in FY1920 September 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) of Pakistan announced its financial results for FY18-19 today. It declared earning a net profit of PKR1.465bn (US$9.3m) (unconsolidated) as compared to PKR3.632bn earned in the same period last year. It shows profit dropped by 59.7 per cent, despite on a good development, when the company sales stood at PKR26bn, compared to PKR25.69bn in the same period last year. In a notification to Pakistan Stock Exchange (PSX), MLCF announced a final cash dividend ... |