Cement News tagged under: corporate
RHI Magnesita strengthens management team19 October 2018, Published under Cement NewsRHI Magnesita has appointed Jacqueline Knox, currently Associate General Counsel M&A at VEON, an international telecommunications and technology business, as EVP General Legal Counsel & Company Secretary at RHI Magnesita, effective 1 December 2018. Jacqueline will be based in Vienna and be part of the EMT. "This organisational change within our top leadership team will ensure we are well positioned for the future," says Stefan Borgas, CEO of RHI Magnesita. Jacqueline was previously gener... |
ACC reports a 10% rise in net sales18 October 2018, Published under Cement NewsIndia’s ACC has reported a 15 per cent YoY increase in consolidated profit-after-tax to INR2.4bn (US$32.6m) for the 3Q18 ended 30 September. Net sales rose 10 per cent to INR33.64bn, compared with INR30.54bn seen in the year-ago period. Operating EBITDA was up seven per cent YoY to INR4.44bn from INR4.16bn. Furthermore, the cement sector showed volume growth of 10 per cent. "Demand drivers including growth in affordable and rural housing segments as well as infrastructure projects will rema... |
Sibirsky Cement's cement production falls in 9M1818 October 2018, Published under Cement NewsRussia’s Sibirsky Cement has seen a minor fall in cement production from its three plants in the 9M18, slipping to 2.507Mt from 2.516Mt in the year-ago period. The company’s Topkinsky facility recorded a flat YoY result of around 1.7Mt, while Krasnoyarsky increased its production by three per cent to 268,100t. However, Timlyuysk noted an eight per cent drop to 268,100t. The decline is due to a reduction in cement consumption in the Buryat Republic, eastern Siberia, which decreased 12.6 per... |
Lafarge Africa posts 5% net sales increase18 October 2018, Published under Cement NewsLafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company. EBITDA for the 3Q18 was up 96 per cent YoY as a result of an improved performance in South Africa, while it fell eight per c... |
Dangote starts work on Niger plant18 October 2018, Published under Cement NewsDangote starts work on the construction of a XOF180bn (US$315.8m) cement plant in Keita, Niger, according to the country’s national TV organisation. The new works will also included a 100MW coal-fired power plant. Dangote Cement Niger was granted approval to carry out research on “coal and related substances” on four permits in the region of Agadez (north) and Tahoua. The new cement facility is scheduled for delivery at the end of 2020 and will have a capacity of 2.5Mta. It is expecte... |
Thatta Cement appoints directors and appproves WHR project at AGM18 October 2018, Published under Cement NewsAt Thatta Cement Co Ltd's (TCCL) annual general meeting the company elected seven directors for a three-year term commencing from 16 October 2018. The appointments include Khawaja Mohammad Salman Younis, Muhammad Taha Hamdani, Agha Sher Shah, Shahid Aziz Siddiqui, Naheed Memon, Saleem Zamindar and Shahzad Sabir. The company has also approved the time period for providing a PKR300m (US$2.25m) loan/advance facility to its subsidiary company, Thatta Power (Pvt) Ltd (TPPL), as approved by t... |
Cherat Cement posts FY1Q profit fall17 October 2018, Published under Cement NewsCherat Cement Company Ltd (CCCL) has announced its financial results for the period ending 30 September 2018. The company reported a net profit of PKR431m (US$3.23m) in 1QFY 18-19, down by 28.87 per cent YoY. According to the company's notification to the Pakistan Stock Exchange (PSX), CCCL’s net revenue shrank to PKR3.34bn from PKR3.89bn during this period. Company sales during the quarter dropped by 14 per cent YoY, likely due to a slowdown in dispatches following the caretaker governmen... |
Cemex Spain to close Gádor plant17 October 2018, Published under Cement NewsCemex Spain has announced the closure of its Gádor cement plant, which has been in operation since 1977. The closure of the cement works, announced via an employment regulation fire (ERE) to the works committees at the plant, will see the employment of 100 permanent and 200 temporary workers. The step follows the earlier statement that the company will also end operations at the Lloseta facility in the Balearic Islands. Cemex has said that the restructuring is a result of the current sl... |
Yamama Cement posts 3Q18 loss17 October 2018, Published under Cement NewsYamama Cement Co reported a drop in revenues in the first nine months of the year to SAR107.7m (US$28.7m) from SAR164.2m in 3Q17. The fall in sales was attributed to the steep price decline in the Saudi market. The 3Q results also showed a SAR46.4m net loss after zakat and tax. In 3Q17 the company reported a SAR29.2m net profit, according to Reuters. |
UAE to construct MSW plant for alternative fuel production16 October 2018, Published under Cement NewsThe UAE will soon start construction and operation of a municipal solid waste treatment (MSW) plant and alternative fuel production plant in the northern emirate of Umm Al Qaiwain. The initiative by the UAE Ministry of Climate Change and Environment has signed an agreement for the project with NV Besix, TG Eco Holding and UK-based Green Revenires. The 40ha plant will come up in Al Madfaq area around 20km north of Umm Al Qaiwain and 2.5km west of the Sheikh Mohamed bin Zayed Road. It is expe... |