Cement News tagged under: corporate
Solid Cement borrows US$75m from related company27 November 2018, Published under Cement NewsSolid Cement, an operating subsidiary of Cemex Holdings Philippines, is borrowing US$75m of subordinated revolving credit from Cemex Asia. The money will be used to refinance existing debt, alongside funding the construction and installation of the new 1.5Mta line at the company’s Antipolo facility. Solid Cement has made an initial drawdown on this facility equivalent to approximately US$40.7m, according to the Manila Bulletin. The company has also entered into the principal project agreem... |
Fire put out at Martinsburg plant27 November 2018, Published under Cement NewsCementos Argos' Martinsburg cement plant in the USA called fire units after 15.51h yesterday after what was thought to have been an explosion on the site. The 167th National Guard along with fire engines from Martinsburg, South Berkley, Bedington, Baker Heights Washington County, and Black Creek Valley fought fires for more than two hours. The fire was under control by 18.44h, but officials did not leave the site until 20.05h. There were no reported injuries. |
Al Khalij to start oil well cement production27 November 2018, Published under Cement NewsAl Khalij Cement Company (AKCC), part of Qatari Investors Group, has announced that its Umm Bab plant will produce oil well cement (OWC) Class ‘G’ at Grade (s) HSR, having received a certification from the American Petroleum Institute (API). The API awarded AKCC a three-year licence to apply the API monogram on its products. With this certification, AKCC joins a select list of 11 companies in the Middle East and will be the only oil well cement producer in Qatar. OWC Class G at Grade (s) H... |
YTL Corp records 11.3% net profit decline26 November 2018, Published under Cement NewsMalaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company. Company revenue in the first qu... |
Cementos Polpaico swings into black in 9M1826 November 2018, Published under Cement NewsChile-based Cementos Polpaico has reported revenues of CLP121.321bn (US$ 179.8m) in January-September 2018, representing a 25.9 per cent YoY increase. In addition, the company has achieved a rise in net profits to CLP3.15bn, a considerable improvement when compared with losses of CLP2.281bn in the previous-year period. In a year, the cement producer renewed its brand image and presented a new corporate image that is part of its development strategy following the entry of the Hurtado Vi... |
Dalmia Bharat looks to expand into northern India26 November 2018, Published under Cement NewsIndia’s Dalmia Bharat has reportedly secured mining rights near Chittorgarh, Rajasthan, and could be planning to construct a 4Mta plant over two phases in the area, according to the Business Standard. The move would mark the company’s entry into the northern market, a region abundant with natural resources. Rajasthan has an estimated limestone reserve of 21,659mt, 12 per cent of the country’s total. It also follows the company’s unsuccessful attempt to acquire Binani Cement, which would ha... |
PPC reports 8% rise in 1H revenues23 November 2018, Published under Cement NewsPPC posted an eight per cent increase in 1HFY18-19 revenues to ZAR5.597bn (US$403.9m) on the back of strong growth in the rest of Africa as the company’s performance in its domestic market of South Africa remains weak. Gross profit fell by 17 per cent to ZAR1.103bn in the six months ending 30 September 2018 from ZAR1.329bn in 1HFY17 while operating profit fell 34 per cent to ZAR507m. However, foreign exchange gains of ZAR38 and investment income of ZAR62m were unable to offset finance cost... |
Cibao opens new packing and dispatch facility23 November 2018, Published under Cement NewsCementos Cibao inaugurated a new packing, palletising and cement dispatch plant in Santiago, Dominican Republic on Tuesday. The plant has two complete and fully-automated packing lines, a palletising system and a covered warehouse with the capacity to store 200,000 bags of cement. "It is this principle of hard work, disciplined and with total dedication together with a vocation of service to which my father has always taught us, which has continuously and permanently promoted the growth of... |
Saudi Engineering Dimensions interested in Bangladesh cement sector23 November 2018, Published under Cement NewsSaudi company Engineering Dimensions has expressed an interest to set up a modern cement factory in the Chhatak upazila of Sunamganj district, Bangladesh, according to New Nation. During a meeting with Secretary-in-Charge of the Industries Ministry, M Abdul Halim, Engineering Dimensions President, Mohammed N Hijji, said Bangladesh’s huge population, domestic demand and skilled workforce have created an opportunity to attract foreign investors such as Saudi Arabia. |
PPC CEO Claassen to retire23 November 2018, Published under Cement NewsSouth-Africa-based PPC has initiated a process to find a new CEO after the incumbent, Johan Claassen, expressed an interest to take early retirement. Mr Claassen was appointed permanent CEO in February this year after serving as interim CEO for six months following the departure of Darryll Castle. |