Cement News tagged under: corporate
Attock Cement commences trial production at Iraqi grinding unit17 April 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has further updated Pakistan Stock Exchange (PSX) about its Iraq project. Trial production at the newly-constructed cement plant has now commenced, according to company. In the beginning of this year, the company also announced that the entire civil, mechanical and electrical work at its joint venture cement grinding unit in Basra, Iraq, was at the commissioning stage. A local research house also highlighted that ACPL's 0.9Mta Iraq project is currentl... |
Matsiloje Cement MD claims his company was not protected16 April 2019, Published under Cement NewsRacjit Josh, managing director of the closed Matsiloje Portland Cement (MPC) plant, has said that it would be difficult to reopen the plant without government support to restrict cement imports. The Botswana factory, which is owned by Nortex Textiles, closed in January 2018 due to competition from South African imports and 150 people lost their jobs. In June last year, the Ministry of Industry, Trade and Investment said that it was in the process of introducing restrictions on the importa... |
Cemex receives approval for Maceo operations up to 204016 April 2019, Published under Cement NewsCemex has received approval from the Attorney General’s Office in Colombia to carry out mining operations at its plant in Maceo, Antioquia. The contract will last until 2040 with the option to extend it until 2050 if the company extends the duration of the mining concession. Cemex Colombia and its subsidiary Central de Mezclas will pay a lease fee of COP49m (US$16,159) to CL Calizas and Zona Franca Especial Cementera del Magdalena Medio (Zomam). This includes retroactive payments for lease... |
Novorosscement and Verkhnebakansky to raise cement prices16 April 2019, Published under Cement NewsNovorosscement and Verkhnebakansky Cement will increase the price of cement by RUB300 (US$4.50)/t from 20 April 2019, according to Esmerk Russian News. The companies have attributed the price rise to higher rates for VAT, transportation equipment and rail freight as well as increasing raw material prices. |
Bamburi Cement sees operating profit fall to KES0.8bn in 201816 April 2019, Published under Cement NewsBamburi Cement (LafargeHolcim) has reported that operating profit fell to KES0.8bn (US$7.92m) in the 2018, from KES4.2bn in 2017. The decline was attributed to higher energy costs in power, coal and petcoke as well as price rises in raw materials and imported clinker. However, group turnover grew by 3.7 per cent from KES36bn in 2017 to KES37.2bn in 2018. |
Ghana expects job boost from new factory16 April 2019, Published under Cement NewsGhana is expecting a jobs boost from the construction of the Tanoso clinker plant later this year. Approximately1800 direct jobs will be created when the factory is completed. President Akufo-Addoo visited the project site on 15 April 2019 in a tour of the region. The Tanoso unit expects to save the country US$700m by significantly reducing the need for clinker imports. |
East African Portland Cement completes land sale15 April 2019, Published under Cement NewsGovernment majority-owned East Africa Portland Cement Company (EAPCC) is selling land to the government after making KES1.26bn (US$12.4bn) losses in 2H18. EAPCC Chairman, Edwin Kinyua, finalised the 900-acre land sale with the Kenyan government at the opening of the Homes Expo in Nairobi. Revenue from the land sale is will also see EAPCC develop residential offices for the government's infrastructure security team at Athi River. "We have also held fruitful discussions with KCB Group which... |
Raysut Cement reports 10% revenue increase in 1Q1915 April 2019, Published under Cement NewsOman’s Raysut Cement Co has released its unaudited consolidated financial results for the 1Q19, reporting a 9.8 per cent YoY increase in revenue to OMR23m (US$59.84m) from OMR20.96m. However, profit before tax declined 77.2 per cent in the first quarter to OMR248,478, compared with OMR1.09m of the year-ago period. Total profit and comprehensive income attributable to shareholders decreased 46 per cent to OMR242,951 from OMR450,161. |
Kuwait Portland Cement sees 12% profit rise in 201812 April 2019, Published under Cement NewsKuwait Portland Cement Co recorded a net profit of KWD2.49m (US$8.2m) in the 4Q18. This represents a 150 per cent YoY advance when compared with KWD997,000 (US$3.2m) in the same period of 2017. In 2018, the company achieved a 12 per cent rise in earnings to KWD10.3m from KWD9.19m in 2017, according to a bourse filing. Operating income expanded by 4.3 per cent YoY to KWD8.87m from KWD8.5m in 2017. |
Cemex Ventures invests in real-time delivery company12 April 2019, Published under Cement NewsCemex Ventures has invested in LINKX, a software company that specialises in goods delivery optimisation. LINKX will help Cemex achieve control of deliveries in real time, allowing data-based decision-making and communication between shipper, carrier and receiver. "This investment is a clear example of our offer," said Gonzalo Galinodo, CEO of Cemex Ventures." LINKX came to us at a very early stage, and together, we worked on continuous improvements by reinforcing their minimum viable prod... |