Cement News tagged under: corporate
Aumund appoints new managing director16 October 2018, Published under Cement NewsDr Ing Pietro de Michieli has been appointed Aumund Fördertechnik GmbH's ew Managing Director, to focus on equipment sales, spare parts, after sales service and PREMAS ® 4.0, at the Aumund headquarters in Rheinberg, Germany. Before joining Aumund, Pietro de Michieli was managing director of OMG MGM Cranes (Bedeschi Group) and chief operating officer of Bedeschi SpA. Earlier in his career he was projects director with Endeco Engineering Design Construction SpA and project manager at Daniel... |
Bronx terminal brings environmental benefits16 October 2018, Published under Cement NewsMcInnis Cement has opened its Bronx terminal at the South Bronx waterfront, New York, USA. The terminal is approximately 100,000ft 2 with a warehouse for storing 44,000Mt of cement. Large ocean-going vessels will deliver cement from the company's plant in Port-Daniel-Gascons, Quebec, to the Bronx about once per month. The environmental benefits of the project will include a decrease in traffic on local roads and bridges, eliminating as many as 25,000 one-way truck trips across the region. ... |
Katari Municipality slaps ban on limestone excavation and transport16 October 2018, Published under Cement NewsSaurya and Cosmos Cement Industries have come under a ban to quarry and transport limestone in the Katari Municipality. K atari Municipality Mayor Gyanendra Shrestha said that his office had prevented the two cement companies from transporting limestone for the time being as they had ignored repeated requests to come under the local level tax net. "Industrialists have not even paid vehicle tax. Tippers belonging to the cement industries have ruined the roads at eight wards as they carry l... |
Attock Cement revenue increases in 1QFY1915 October 2018, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its 1QFY19 results. It reported a net profit after tax of PKR423m (US$3.2m), down 30 per cent YoY despite an increase in revenue from PKR3.59bn to PKR5.83bn during this period. Analyst believes another reason for the profit fall was a rise in coal prices during this period. The company incurred a higher distribution cost of PKR626m and administrative expenses PKR129m compared to PKR284m and PKR107m, respectively incurred in corresponding peri... |
Expansion project of Maple Leaf Cement on the track15 October 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd has updated the Pakistan Stock Exchange about progress on it expansion project. According to Company Secretary, Muhammad Ashraf, the company is undertaking an additional dry-process clinker line of 7300tpd. The brownfield expansion at the existing Iskandarbad plant raises grey cement capacity at the plant to 18,000tpd. Total project cost is estimated at PKR26bn (US$197m), including the impact of the recent devaluation of the local currency. Project cost is be... |
Unacem buys Cementos Portland for US$28m15 October 2018, Published under Cement NewsPeru-based Unacem has acquired Cementos Portland for US$28m from Cementos Bío Bío and Votorantim. Unacem, which operates 8.3Mta of production capacity at two plants at Atocongo and Condorcocha, informed the Superintendency of the Stock Market (SMV) that on 10 October, it had carried out "a transfer of 100 per cent of the shares representing the capital stock of Cementos Portland for the total price of US$28,095,802". |
Raysut Cement 9M profit falls15 October 2018, Published under Cement NewsRaysut Cement Co reported revenues in the first nine months of 2018 were OMR64m (US$166.5m), representing a17 per cent increase when compared with OMR54.7m in 9M17. However, the company noted a significant drop in profit to OMR2m vs OMR6.7M in 9M17. |
Lafarge suffers loss on high tax payment15 October 2018, Published under Cement NewsLafarge Cement Zimbabwe reported a loss of ZWD1174m (US$4.9m) for 1H18 due to a significant tax settlement. In 2017, the company disclosed a contingent liability of ZWD7.9m relating to a tax assessment for the 2009-13 period. Last June the matter was heard in the courts but the judgment is yet to be handed down. Income tax payments rose ZWD2.7m from ZWD26,260 during the period under review. “The company reviewed its risk assessment of the matter and booked a tax provision towards this ca... |
Egypt's National Cement Co to be liquidated15 October 2018, Published under Cement NewsThe Egyptian government has decided to liquidate National Cement Co due to continued financial losses and debt accumulation, according to Ahramonline. Total accumulated financial obligations had reached over EGP4bn (US$223m), including EGP3.3bn owed to Egyptian Natural Gas Holding Co and EGP600m to the Egyptian Electricity Co. Established in 1956, the company was the only public sector cement producer. Its general assembly agreed during a meeting last week on the liquidation and proced... |
Emami Cement files IPO prospectus15 October 2018, Published under Cement NewsEmami Cement has filed a prospectus with market regulator Sebi to raise up to INR10bn through an IPO, according to a document on issue manager manager Axis Capital’s website. "The Initial Public Offering of equity shares of face value INR10 each of Emami Cement Ltd for cash. The offer comprises of a fresh issue of equity shares aggregating up to INR500cr and an offer for sale (OFS) of equity shares aggregating up to INR500cr," it states. The IPO will include shares offered by founders gr... |