Cement News tagged under: corporate
WCA appoints vice president18 July 2019, Published under Cement NewsThe World Cement Association (WCA) has appointed Mohammed A Al-Garni as its vice president. Mr Al-Garni is the CEO of Saudi Cement Co and board member of WCA. "It is a great honour to be chosen as the new Vice President of the World Cement Association and I am really excited to participate in helping it grow further, supporting the association in its role as the voice of the cement industry globally," said Mr Al-Garni. Mr Al Garni has 35 years of experience in the cement industry. |
Oman Cement Co reports 52% fall in profit17 July 2019, Published under Cement NewsOman Cement Co has reported a 52 per cent YoY fall in profit after tax for its 1H19 unaudited results, decreasing to OMR2.3m (US$6m) from OMR4.8m of the year-ago period. The first six months of 2019 saw total revenue at the company remain flat at OMR26.3m. |
Siberian Cement sees 2% rise in production for 1H1917 July 2019, Published under Cement NewsRussia’s Siberian Cement has announced that its enterprises produced over 1.455Mt of cement in the first six months of 2019, an increase of two per cent YoY. Its subsidiaries have also reported their results for the January-June 2019 period. Topkinsky Cement produced 1Mt (up four per cent YoY), Krasnoyarsky Cement produced 288,900t (down 11 per cent) and Timlyuy Cement manufactured 164,500t (up 18 per cent). |
Holcim Azerbaijan reports 9% revenue increase in 201816 July 2019, Published under Cement NewsHolcim Azerbaijan has reported that its revenue increased 8.7 per cent YoY to AZN116.3m (US$68.57m) in 2018. After deducting transportation, administrative and sale expenses, the company’s operating income reached AZN20.369m, which is a 28.4 per cent rise compared to 2017. The pretax profit surged by almost four times to AZN11.471m, according to Regional Finances. Net profit amounted to AZN7.067m for the year. |
CRH divests its European Distribution business for EUR1.64bn16 July 2019, Published under Cement NewsCRH has agreed the divestment of its European Distribution business to private equity funds managed by Blackstone for an enterprise value of EUR1.64bn in cash, subject to regulatory approval. The divested business unit consists of CRH's entire general builders merchants business in Europe, including its sanitary heating and plumbing business that serve professional builders, contractors and DIY customers across six countries. In 2018 the business unit generated proforma EBITDA of EUR155m on... |
Raysut Cement Co sees revenue fall 5% in 1H1915 July 2019, Published under Cement NewsOman’s Raysut Cement Co has announced its unaudited consolidated results for the first six months of 2019. The company has seen a 5.1 per cent YoY decline in revenue to OMR41.7m (US$108.5m), compared with OMR43.94m in the 1H18. Profit before tax fell 58.1 per cent to OMR517,398 from OMR1.23m. Profit after tax decreased 27.1 per cent to OMR511,871 against OMR701,732 in the year-ago period. |
LafargeHolcim acquires Romanian precast concrete company15 July 2019, Published under Cement NewsLafargeHolcim has signed an agreement with ORESA to acquire Somaco, a Romanian precast concrete producer. Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. Jan Jenisch, CEO of LafargeHolcim: "This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions and Products business segment as part of Strategy 2022 – 'Building for Growth'. The acquisition enables LafargeHolci... |
Kenya's Savannah Cement plans KES5bn grinding plant in major expansion plan15 July 2019, Published under Cement NewsSavannah Cement is currently undertaken a KES5bn expansion of its grinding plant at Kitengela, Kenya, according to the company’s MD, Ronald Ndegwa. The project sees the construction of a 1.2Mta grinding unit, which will double the company’s current installed capacity. Central to the plant will be an energy-efficient vertical grinding mill, supplied by FLSmidth. The new facility is expected to be commissioned by the end of the year. “At Savannah Cement, we are banking on the regional ma... |
Floods sweep away Huaxin plant under construction15 July 2019, Published under Cement NewsFloods have swept away the Huaxin Cement Industry plant under construction in Benighat Rorang Rural Municipality-2, Talti, Nepal, on the night of Sunday, 14 July, according to Khabarhub. The cement factory was swept away after the level of water in the river in Talti surged due to incessant rains continuing for three days, said Tulasi Jung Thapa, a spokesperson. No human casualties have been reported so far, but five workers have been trapped due to the floods. The property damaged is ... |
Asia Cement launches 25kg bags15 July 2019, Published under Cement NewsAsia Cement has started the production of cement in 25kg bags, according to Esmerk Russian News. The smaller pack size is suitable for small construction works and minor repairs. Bags are made from multilayer microcreped paper with a density of 80gm/m 2 . |