Cement News tagged under: corporate
Semen Indonesia reports 4% drop in August sales19 September 2019, Published under Cement NewsSemen Indonesia reported a four per cent fall to 2.789Mt in total sales in August 2019 when compared with the previous year, when the company achieved sales of 2.904Mt. In July 2019 sales slipped by 2.6 per cent YoY to 2.706Mt. Of the total, domestic sales of 2.466Mt were reported, down 5.1 per cent YoY. This follows a six per cent YoY drop in July, when sales to Indonesian customers stood at 2.354Mt. Exports advanced by 5.6 per cent YoY to 323,101t following a 29.5 per cent rise to 352,55... |
RHI Magnesita set for Indian consolidation18 September 2019, Published under Cement NewsRHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times. The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of consolidating our three arms in India into a single entity. We hope to get the interim approval within ... |
DG Khan Cement profit falls in FY1917 September 2019, Published under Cement NewsDG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn and finance cost from PKR574m to PKR3.6bn during this period despite increase in sale. The company s... |
Fancesa's new plant 85% complete17 September 2019, Published under Cement NewsThe construction of the new cement plant of Fábrica Nacional de Cemento Sucre SA (Fancesa) in Cal Orck'o, Bolivia, is 85 per cent complete, according to the company’s President, Armin Cortez. "The new production line of the Fábrica Nacional de Cemento Sucre SA, to date is at 85 per cent of physical execution and 81 per cent of financial execution, and it was possible to meet the goals planned within the contract, there are problems in some areas, but they will not affect the normal fulfilme... |
Lucky Cement updates progress on overseas and local projects16 September 2019, Published under Cement NewsLucky Cement is currently implementing two cement projects: the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place in FY20-21. Similarly, the letter of credit for the power plant in Iraq has been established and s... |
Asian Fine Cements launches new packaging16 September 2019, Published under Cement NewsIndia’s Asian Fine Cements Pvt Ltd has introduced the country’s first vacuum-tight packaging to the market for its Duraton7X cement. The packaging is expected to reduce water seepage and dust emissions, alongside increasing shelf-life. "We set up a big cement manufacturing facility at Rajpura in Punjab about one-and-a-half years ago with installed capacity of 1.5Mta. As of now we have launched our cement products in the Punjab, Haryana, Himachal Pradesh, Jammu Kashmir states and Union Terr... |
Oman Cement Co appoints consultancy for Duqm plant16 September 2019, Published under Cement NewsOman Cement Co has appointed “a leading consultant company” to work on its upcoming Duqm cement plant as a project consultant, reports New Vision. While it did not name the consultancy, it confirmed that its Duqm integrated plant would have a capacity of 5000tpd. The project, which was approved by the company’s board of directors in December 2018, represents an investment of around US$212m. |
Cemex invests in building materials delivery start-up16 September 2019, Published under Cement NewsCemex Ventures, the venture capital business of Cemex, has announced it has invested in GoFor Industries, a logistics marketplace for on-demand delivery of building materials and equipment for the DIY and construction industries. GoFor Industries is a start-up company founded in 2016 with operations in the USA and Canada. By 2020 GoFor is expected to expand to 20 major market areas in the USA. Gonzalo Galindo, CEO of Cemex Ventures, said, “With this investment, we seek to improve a criti... |
Cherat Cement becomes sixth-largest producer in Pakistan13 September 2019, Published under Cement NewsCherat Cement Co Ltd (CHCC) has become the sixth-largest cement producer with eight per cent market share in Pakistan following the successful installation and commissioning of Cement Line III at the Lakrai plant, Nowshera district, Khyber Pakhtunkhwa. The new line has a clinker capacity of more than 6700tpd and features a waste heat recovery plant. With this expansion, the company has increased its total cement capacity to more than 4.5Mta. The project was completed well before schedul... |
Alexandria Portland Cement sells plot of land13 September 2019, Published under Cement NewsEgypt’s Alexandria Portland Cement has sold an unexploited plot of land in Ad Dakhilah, according to a statement to the stock exchange. Situated on 15,852m 2 , the plot was sold for a consideration of EGP31.7m (US$1.9m). The company saw its losses widen 29.5 per cent YoY to EGP168.99m during the first half of 2019. |