Cement News tagged under: corporate
Nomayos substation connects to grid for new Cimencam works05 March 2019, Published under Cement NewsThe new Cimencam cement works in Nomayos will be able to draw power from Cameroon’s transmission network from 5 March as the Nomayos electricity substation will be connected to the country’s transmission system. Following connection, the cement plant’s commissioning is due to take place soon. The Cimencam cement plant represents an investment of CFA23bn with 5-10 years of tax and customs exemptions in line with 2013 provisions laid out by the Cameroonian government. The 0.5Mta works will r... |
City Cement reports 19% profit increase for 201805 March 2019, Published under Cement NewsSaudi Arabia’s City Cement Co has noted an 18.9 per cent YoY rise in net profit to SAR111m (US$29.58m) for 2018, compared with SAR93.3m of the previous year. The increase was supported by a reduction in sales costs and raising operational efficiency, while the company also reported the final settlement with the main contractor, Sinoma International Engineering Co, for its second production line. In the final quarter of 2018, its profits climbed 229.8 per cent to SAR78.58m from SAR23.83m o... |
Sharjah Cement reports fall in profit for 201804 March 2019, Published under Cement NewsUAE-based Sharjah Cement & Industrial Development Co has reported a 54.6 per cent YoY fall in profit during 2018, declining to AED29.4m from AED64.78m (US$17.6m) in 2017. Revenue also decreased 8.2 per cent to AED596.8m, compared with AED650m of the previous year. |
LafargeHolcim Bangladesh's profits up 38%04 March 2019, Published under Cement NewsLafargeHolcim Bangladesh has informed Dhaka Stock Exchange (DSE) that its consolidated profit stood at BDT1.11bn (US$13.1m) for the year ended on 31 December 2018, up 38 per cent from BDT805m in the previous year. Producing around 4.2Mta of cement, LafargeHolcim Bangladesh has sofar invested about US$500m in Bangladesh, and is having plans for further investments. The plant at Chhatak, Sunamganj, is the only dry-process integrated cement plant of the country. Furthermore, the company's pl... |
Arabian Cement records net loss in 201804 March 2019, Published under Cement NewsArabian Cement has recorded a SAR26.2m (US$6.98m) loss for the full-year 2018 period, compared with a SAR262.7m net profit of the previous year. The Saudi producer has attributed the loss to a drop in average selling prices, lower sales, higher financing expenses and zakat provision, according to the company’s statement to the Saudi Stock Exchange. Sales declined 34 per cent to SAR600.7m in 2018, falling from SAR905.7m in 2017. The 4Q18 saw the company’s profit drop 83.2 per cent YoY to SA... |
CRH announces board update04 March 2019, Published under Cement NewsCRH has announced that Don McGovern will step down from its Board of Directors on 25 April 2019, after serving two three-year terms. "On behalf of the board I would like to thank Don for his commitment to CRH over his six years on the board, and in particular for his service as senior independent director and as chairman of the remuneration committee. We wish him every success in the future," said Nicky Hartery, chairman of the company. |
Adelaide Brighton posts 1% fall in net profit in 201801 March 2019, Published under Cement NewsAustralian cement producer Adelaide Brighton posted a 1.4 per cent decline in net profit to AUD185.3m (US$131.5m) in 2018 as cement margins declined and slower growth in South Australia and Western Australia offset strong demand in New South Wales and Victoria. “East coast construction markets were strong in 2018, South Australia and the Northern Territory were flat and Western Australia was down, while lime demand from the resources sector was stable,” Adelaide Brighton’s CEO, Nick Miller... |
Construction to begin on Nepali-Chinese joint venture01 March 2019, Published under Cement NewsHuaxin Cement Narayani, a Nepali-Chinese joint venture, is set to begin construction on its facility in Dhading district, Nepal, within the next few days. "The promoters of the company have informed us that they will lay the foundation stone on Friday and start the construction," said Uttam Bhakta Wagle, spokesperson at the Investment Board Nepal (IBN). The company has already acquired a limestone mine from the country's Department of Mines and Geology through a global tender for NPR60... |
Misr Beni Suef and Alexandria Cement report improved results in 201801 March 2019, Published under Cement NewsEgypt-based cement companies Misr Beni Suef Cement and Alexandria Cement have posted improved results in 2018. Misr Beni Suef Cement posted net profits of EGP241.491m (US$13.8m) in 2018, more than twice its net profits of EGP110.616m announced in 2017. Alexandria Cement reported a reduction in its consolidated net loss in 2018, which fell to EGP394.166m from EGP513.934m in 2017. Stand-alone losses also decreased to EGP251.976m in 2018 to EGP401.794m in the previous year. |
New Carthage Cement tender to launch in June01 March 2019, Published under Cement NewsThree months following the announced lack of tender success for the sale of the shares held by the Tunisian state in the capital of Carthage Cement, a financial restructuring, including the transfer of a block of shares representing 50.52 per cent of the capital, is being implemented at the cement plant to launch a second call for tenders by June 2019, according to ilBoursa. To restore financial stability and encourage compliance with future banking commitments of the cement producer, Al Ka... |