Cement News tagged under: corporate
Sinai Cement records 20% loss increase in 1H1928 August 2019, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen 20.2 per cent YoY to EGP187.23m (US$11.3m) during the first six months of 2019, compared with EGP155.74m in the 1H18. The cost of sales advanced 23 per cent to EGP424.54m from EGP345.07m. However, net sales increased 12.7 per cent to EGP346.19m from EGP307.29m. |
Uzbekistan’s Akhangarantsement sets monthly shipment record27 August 2019, Published under Cement NewsUzbek cement producer Akhangarantsement produced 1.1Mta, up 29 per cent YoY, in the first seven months of 2019. In July 2019 the company delivered 190,349t of cement, representing a rise of 34 per cent when compared with July 2018 and setting a new record. The growth in output is supported by the plant’s quarry, which mined more than 1Mt of limestone. The rise in quarry output confirm the reliability and efficiency of new mining equipment. The cement plant purchased Shacman dump trucks e... |
Raysut Cement and Bank Nizwa sign OMR19.5m financing agreement27 August 2019, Published under Cement NewsRaysut Cement Co has signed a OMR19.5m (US$50.6m) agreement for Shari’a-compliant financing facilities with Oman-based Islamic lender Bank Nizwa. The facilities consist of long-term financing of OMR12m, working capital of OMR3m to the cement producer’s Salalah plant and OMR4.5m for the construction and expansion of Sohar Cement Factory. Sheikh Abdul Hafidh Salim Al Barami, vice chairman of Raysut, said: "The secured Shari’a-compliant banking facilities will set us for stronger and rapid g... |
LafargeHolcim's takeover of Somaco to be investigated27 August 2019, Published under Cement NewsRomania's competition authority is to analyse LafargeHolcim's acquisition of Romanian precast concrete producer Somaco. LafargeHolcim had signed an agreement in July with Romanian-based Oresa for the acquisition of Somaco. LafargeHolcim wants to develop its ready-mix and aggregates business in Romania and Somaco owns five precast concrete plants and one aerated block company. Somaco reported net sales of EUR56m in 2018. If the Competition Council is satisfied that the multinational... |
Jaime Hill appointed as CEO of Holcim Mexico27 August 2019, Published under Cement NewsJaime Hill has been appointed as the CEO of Holcim Mexico, as the company looks to strengthen operations and consolidate the firm in the cement, aggregate, concrete and value-added product sectors, according to a press release. "I am honoured to take on this responsibility because Mexico is a key country for LafargeHolcim. In strategy 2022, we will implement a simpler and results-oriented operating model, so that we can be closer to our customers. This will involve investments in projects... |
Tourah Cement rejects kiln auction result27 August 2019, Published under Cement NewsTourah Cement rejected the auction result to sell off the old kilns of its Tourah plant as a result of the low price received. They are to be reauctioned later. The proceeds from selling the kilns, which ceased operation in 2013, reached around EGP7.6m (US$459,419), according to the company. |
Misr Cement (Qena) records 85% decrease in profit23 August 2019, Published under Cement NewsEgypt’s Misr Cement (Qena) has reported an 85.2 per cent YoY fall in profit to EGP14.69m (US$886,660) for the first six months of 2019, compared to EGP99.37m in the year-ago period. General and administrative expenses rose to EGP79.16m from EGP57.18m in the 1H18. Standalone results saw the company’s net profit decline 84.7 per cent YoY to EGP8.09m from EGP52.84m. |
Bamburi Cement 1H19 pretax profit declines23 August 2019, Published under Cement NewsBamburi Cement reported a turnover of KES18.663bn (US$181.18m) in the1H19, up 0.6 per cent when compared with KES18.556bn in the 1H18. The Kenya-based cement producer’s pretax profit fell to KES23m from KES722m in the first six months of 2018. The company’s profits were impacted by higher energy and logistics costs. However, profitability is expected to recover in the second half of the year. |
Hail Cement resumes operations after shutdown23 August 2019, Published under Cement NewsSaudi Arabia’s Hail Cement has resumed operations of its production line after shutting down for maintenance works . However, cement crushers and its packaging line remained active during the shutdown. The financial impact of the temporary stoppage is expected to appear in 3Q results. |
Maple Leaf Cement wins corporate report award23 August 2019, Published under Cement NewsMaple Leaf Cement (MCL) and its sister concern Kohinoor Textile Mills of Pakistan have won the 'Best Corporate Report Award' for the year 2018 in their respective sectors. The ceremony was held in Karachi jointly hosted by ICAP and ICMAP, earlier this week. Maple Leaf Cement and Kohinoor Textile Mills both won the award for 2018 in their respective sectors at number one position. Transparent and meaningfully financial reporting for all stakeholders of the company is one of the key objectiv... |