Cement News tagged under: corporate
Jindal Steel and Power to enter cement market31 October 2018, Published under Cement NewsJindal Steel and Power (JSP) plans to establish a 2Mta cement plant near its Angul steel plant in Odisha, India. The company has already purchased the land for the plant, which will be established in an industrial park. JSP is now awaiting for the government to hand over the use of the land. The plant is estimated to cost INR5bn (US$67.7m). JSP will use granulated blastfurnace slag to produce blended cement at the new factory. "With the expansion of the steel making capability to 6Mta, ... |
Caribbean Cement's debt repayments hurt 3Q18 results31 October 2018, Published under Cement NewsCaribbean Cement has blamed finance costs linked to debt owed to Cemex as well as volatile currency movements for its lower profits in 3Q18. The company's 3Q18 sales amounted to JMD4.5bn (US$33.5m) up seven per cent YoY, but profits fell to JMD305m at the end of September 2018, down from JMD748m a year ago. "The reduction in profit before taxation compared to the same period in 2017 was impacted by foreign exchange losses of JMD464m and interest payments of JMD227m. Both are related to t... |
Confidence Cement to install slag dryer, close Line 131 October 2018, Published under Cement NewsBangladesh-based Confidence Cement will install a new slag dryer at its cement plant in Sitakunda to ensure uninterrupted production of the existing Lines 2 and 3. In addition, the company has decided to shut down Line 1, citing high maintenance costs and electricity costs at the 600tpd line. |
Kohat Cement expansion works on schedule31 October 2018, Published under Cement NewsThe installation of Kohat Cement Co Ltd's new 7800tpd grey cement line is making good progress at the existing plant in the Khyber Pakhtunkhwa province, Pakistan, according to the company's directors' report. Almost 70 per cent of the plant has been shipped by the supplier. Civil and erection works are progressing as scheduled, the 1QFY19 reported added. Presently Kohat Cement has 2.8Mta of grey cement capacity and 150,000tpa of white cement. |
Pacific Cement faces clinker price rises31 October 2018, Published under Cement NewsPacific Cement, a subsidiary of Fijian Holdings Ltd, is finding the rise in clinker prices a strain on its business. FHL CEO, Nouzab Fareed, says the company is trying to address the increase in the price of the imported raw material for cement production. Mr Fareed commented that Pacific Cement is currently facing some global challenges. "Right now we are going through a lot of challenges with Pacific Cement not only normal challenges, we are facing challenges globally as the shipping frei... |
Cementos Pacasmayo net income drops 14% in 3Q1830 October 2018, Published under Cement NewsCementos Pacasmayo saw its revenues fall by 4.4 per cent to PEN318.8m (US$95.2m) in 3Q18, mainly due to change in mix of products sold and to a slight decrease in prices. It also reported a 1.9 per cent rise in sales volumes of cement, concrete and precasts to 610,800t, mainly due to a recovery in the self-construction segment as well as increased sales to small and medium-sized projects. Net income declined 13.5 per cent YoY to PEN33.4m as operating income fell as a result of higher coa... |
Taiwan Cement to invest US$1.1bn in new joint venture30 October 2018, Published under Cement NewsTaiwan Cement announced it will spend US$1.1bn to create a joint venture with Turkey’s OYAK in The Netherlands, via a newly-created subsidiary, Dutch TCC Holdings. Taiwan Cement will hold 40 per cent of shares in the joint venture with OYAK holding 60 per cent. Through the JV, Taiwan Cement aims to increase its visibility in the European market at a time when the Chinese market is cooling. |
Gharibwal Cement's 1QFY18 profits fall to PKR269m30 October 2018, Published under Cement NewsGharibwal Cement Ltd (GCL) announced its financial results for the 1QFY19 on 29 October. It posted a decline in profit to PKR269m (US$20,194), down by 10.6 per cent YoY, as compared to PKR301m reported in the same period last year. GCL's sales during the quarter decreased by 7.9 per cent YoY to PKR2.47bn from PKR2.69bn reported during the same period last year. The company incurred lower administrative expenses of PKR98m and higher distribution costs of PKR9.3m compared to PKR99m ... |
Lucky Cement sees 9% turnover rise, 24% profit fall30 October 2018, Published under Cement NewsLucky Cement reported a 9.2 per cent rise in gross turnover for the quarter ended 30 September 2018 to PKR31.32bn (US$235.2m) from PKR28.68bn in the same quarter of the previous year. The Pakistani cement producer attributed the increase primarily due to higher sales volumes and an increase in federal excise duty and sales tax. The company reported a consolidated profit after tax of PKR3.16bn in the quarter, down 24.2 per cent YoY. In the year-ago period, profit after tax reached PKR4.17bn... |
InterCement sells Portugal operations in further deleveraging29 October 2018, Published under Cement NewsTo help reduce its indebtness, InterCement is leaving the European market. Controlled by Mover Participações (current holding company of the Camargo Corrêa group), the company agreed on Friday to sell its cement and concrete operations in Portugal and Cape Verde to Turkish group Oyak, according to Valor International. While the price of the divestment was undisclosed, the deal is believed to have cost a little over US$800m, according to industry analysts. The divestment will see the owner... |