Cement News tagged under: corporate
Increase in seaborne coal and petcoke prices impact producers28 September 2018, Published under Cement NewsSeaborne thermal coal and petcoke prices rose by 16-24 per cent YoY during the 1H18 period, eroding almost four per cent of the aggregate EBITDA of LafargeHolcim and HeidelbergCement, according to a Morgan Stanley report. However, this is expected to slow or reverse into next year. Prices of seaborne thermal coal are anticipated to fall 15 per cent in 2019 compared to 1H18, with petcoke following a similar trend. This is due to lower seaborne demand from China and Japan alongside capacity ... |
Pakistan cement producers record falling sales28 September 2018, Published under Cement NewsPakistan’s Fecto Cement Ltd has announced a 42 per cent YoY fall in profit for the FY18 ended 30 June, declining to PKR441m (US$3.56m) from PKR760m. Net sales of the company decreased 4.5 per cent to PKR4.9bn, compared with PKR5.13bn from the year-ago period. The company has a cement production capacity of 0.819Mta from its facility in Sangjani, Punjab. Elsewhere, Pioneer Cement Ltd has recorded a 44 per cent YoY drop in earnings to PKR1.64bn for the FY18. Net sales were down five per cent... |
Lafarge Africa receives shareholder approval for NGN90bn rights issue27 September 2018, Published under Cement NewsLafarge Africa has received shareholder approval to raise NGN90bn (US$246.93m) of capital through a rights issue and to restructure its short-term shareholder loan. “The additional capital to be raised will further help to deleverage the company’s balance sheet and provide head room for the expansion of our business,” said Mobolaji Balogun, chairman of the board, Lafarge Africa. Michel Puchercos, CEO, stated that the company’s refinancing plan is aimed at preparing for future developme... |
Holcim Philippines to raise capacity of La Union plant26 September 2018, Published under Cement NewsHolcim Philippines has announced that it intends to raise the capacity of its facility in La Union, Luzon, from 1Mta to 1.8Mta by the first half of 2019, to further support the construction activity on the island. The company is currently installing new equipment and storage facilities at the plant, while implementing efficiency initiatives in its Bulacan, Manila and Batangas facilities. "Holcim Philippines remains committed to the development of Luzon and the entire country and we intend... |
La Hien Cement records 20% revenue increase26 September 2018, Published under Cement NewsVietnam’s La Hien Cement JSC has announced a 20 per cent YoY increase in revenue to VND334.1bn (US$14.31m) for the first half of 2018. Furthermore, profit-after-tax surged 17 per cent to VND13.7bn in the 1H18. Meanwhile, financial expenses fell 52.5 per cent to VND5.9bn from VND9bn recorded in the year-ago period. |
Kigali Cement plant auction postponed26 September 2018, Published under Cement NewsThe auctioning of Kigali Cement’s plant in Nyarugenge, Rwanda, has been postponed, allowing more time for talks between the involved parties. The sale was being made to allow the company to pay its creditors, Rwanda Enterprise Investment Company (REIC). However, Kigali Cement and REIC have now agreed to hold talks, according to Aloys Bizimana, court baliff in charge of the auction. "We can postpone one, two or three times but we cannot continue [to postpone the auction] forever. We have ... |
Boral concludes deal with Geelong Port for new facility26 September 2018, Published under Cement NewsA new clinker grinding and cement facility is to be built at Geelong following an agreement between Boral Cement and Geelong Port, Australia. The 25-year agreement will see Boral invest AUD130m (US$94.3m) in a 1.3Mta facility, which is to be connected by a conveyor system to Lascelles Wharf to provide efficient discharge and processing. The new facility is expected to enable Boral to increase capacity to meet future infrastructure demand in Victoria and extend Boral’s range of products. ... |
Aalborg Portland signs 5-year transport deal26 September 2018, Published under Cement NewsDenmark-based Aalborg Portland has signed a five-year cement transport agreement with Demstrup Autotransport and Silo Trans. The two firms will carry out the more than 33,000 transports annually to complete the cement producer’s distribution of more than 1.25Mta of cement. |
Titan Group joins the GCCA26 September 2018, Published under Cement NewsGreece’s Titan Group has announced that it has joined the Global Concrete and Cement Association (GCCA). Through its participation, the company continues building on its commitment to actively engage in collaborative initiatives aiming to address global sustainability challenges, according to a press release. The UK-based GCCA will incorporate the activities of the Cement Sustainability Initiative (CSI) as of January 2019, following a strategic partnership with the World Business Council f... |
JSW Cement begins work on 1.2Mta grinding unit25 September 2018, Published under Cement NewsIndia’s JSW Cement has begun construction of a 1.2Mta grinding unit at the Kalinganagar Industrial Complex in Jajpur, Odisha, which will be used for the production of Portland slag cement and GGBS. Petron Engineering Construction won the INR600m (US$8.2m) contract for civil and structural work, while the State Environment Impact Assessment has provided clearance for the project. The unit is expected to be operational in September 2020. |