Cement News tagged under: corporate
HeidelbergCement reports improved 1Q results due to volume and price increases09 May 2019, Published under Cement NewsHeidelbergCement posted revenues of EUR4.238bn in January-March 2019, up 16.9 per cent when compared with the 1Q18. Like-for-like (LfL) – ie, excluding positive exchange rate effects of EUR68m – the change from the 1Q18 was 15 per cent. EBITDA jumped 58.6 per cent (25.8 per cent LfL) to EUR396m YoY while the result from current operations reached EUR60m. Key drivers were improved sales volumes in group areas Western and Southern Europe, Northern and Eastern Europe-Central Asia, and North Ame... |
Northern Cement announces 37% 1Q revenue rise09 May 2019, Published under Cement NewsSaudi cement producer Northern Cement reported a more than nine-fold rise in net profits after zakat and tax in the first quarter of 2019, according to Mubasher. Net profit reached SAR15.51m (US$4.1m), up from SAR1.46m in the 1Q18. Revenues remained stable at SAR113.3m in the1Q19 when compared with the 1Q18. Total profits increased by 67.8 per cent in the three months to SAR40.1m when compared with SAR23.9m in the year-ago period. Operational profits more than doubled to SAR40.1m in the 1Q... |
Madhya Pradesh Power Generating Co plans grinding facility09 May 2019, Published under Cement NewsMadhya Pradesh Power Generating Co is planning a cement grinding unit at its Satpura Thermal Power Station in Sarni, Betul district, Madhya Pradesh, India. The company will offer a maximum of 4.25ha of land near its thermal power plant on payment of lease charges for 30 years and 0.25Mt of dry fly ash will be supplied free-of-cost basis during this period. The project team is currently evaluating tenders. |
Lafarge Zimbabwe obtains US$30m loan09 May 2019, Published under Cement NewsLafarge Cement Zimbabwe has obtained a long-term US$30m facility from its parent company to enable settlement of outstanding obligations, according to The Zimbabwe Independent. The company has also acquired a US$4.4 short-term loan facility to cover working capital requirements. |
Loma Negra to cut 265 jobs09 May 2019, Published under Cement NewsArgentine cement producer Loma Negra, part of the InterCement Group, has announced that it plans to cut 265 jobs in its Barker cement plant Barker, Buenos Aires province. Currently the plant employs 330 staff. The company attributes the personnel reduction to the economic recession. The government is currently negotiating a solution, according to Esmerk Latin American News. |
Post-merger CCNN reports improved 1Q19 results08 May 2019, Published under Cement NewsNigeria’s Cement Co of Northern Nigeria (CCNN) saw its net profit after tax soar by 236 per cent YoY to NGN3.636bn (US$10.1m) in the first quarter of 2019 ended 31 March. The merger with Kalambaina Cement Co Ltd is seen as a key reason for the improved profit figure. In the post-merger three-month period revenue saw a 213 per cent hike to NGN16.886bn from NGN5.394bn in 1Q18. Sales volumes increased by 233 to 411,945t with a capacity utilisation rate of 82 per cent. Strong domestic demand... |
Sagar Cements completed Jajpur acquisition08 May 2019, Published under Cement NewsIndia-based Sagar Cement has completed the acquisition of its 100 per cent stake in Jajpur Cements Private Ltd (JCPL). The company will now start the process of establishing a 1.5Mta greenfield grinding plant in Jajpur, Odisha. In December, Sagar Cements’ board had approved the investment of INR1.08bn (US$15.6m) in JCPL in a phased manner and to set up the INR3.08bn plant in Jajpur. The new unit is expected to be completed by March 2021. |
Gas supply to Lucky Cement Pezu plant cut off08 May 2019, Published under Cement NewsLucky Cement has seen gas supply cut off at its Pezu plant as a result of the ongoing drive against gas theft undertaken by Sui Northern Gas Pipelines Ltd (SNGPL) in Khyber-Pakhtunkhwa, Pakistan. In a letter to Pakistani Prime Minister, Imran Khan, the company management highlighted the major shutdown at its Pezu plant in Lucky Marwat district, Khyber-Pakhtunkhwa. “For the past almost four months, we are facing major gas shutdowns atour plant and we have been raising the issue continuousl... |
Hail Cement sees 41% YoY 1Q revenue increase08 May 2019, Published under Cement NewsSaudi Arabia-based Hail Cement reported a 41 per cent YoY rise in revenues to SAR68.6m (US$18.3m) in the first quarter of 2019. “The main reason for the increase in net income in the current quarter compared to the same quarter last year is due to more sales quantity and better selling price,” the firm said in its filing to the Tadawul, the Saudi stock exchange. The results come only months after a Saudi cement sector report by Al Rajhi Capital that said that cement demand in the Middle ... |
Republic Cement launches Kapit-Balay masonry cement08 May 2019, Published under Cement NewsPhilippine cement producer Republic Cement introduced its Kapit-Balay masonry cement to the market at its Partners’ Night at the Maayo Hotel, Mandaue City, Cebu. Kapit-Balay cement is a Type S high-strength masonry cement optimised for ease of application and adhesion. It is suitable for plastering, brick or block laying and filling. With a lower clinker-to-cement ratio due to its light micro-materials, its production delivers a cement with a lower carbon footprint. |