Cement News tagged under: corporate
JK Lakshmi upgrades capacity for increased demand03 September 2018, Published under Cement NewsIndia’s JK Lakshmi Cement Ltd has recently upgraded the capacity at two grinding units in Gujarat to supply the growing demand in the region. The units in Kalol and Surat supply cement for both Gujarat and Maharashtra. "Our combined capacity at both these locations has been raised to about 2.5Mta from earlier 1.5Mta," said Shailendra Chouksey, whole-time director, JK Lakshmi Cement. "We have been expecting reasonable growth in the cement sector largely driven by various government initia... |
Bamburi Cement records 78% net profit decline in 1H1831 August 2018, Published under Cement NewsKenya’s Bamburi Cement has posted a 78.2 per cent YoY drop in net profit for the half-year period ended 30 June, falling to KES399m (US$3.96m) from KES1.83bn. Revenue remained flat at KES18.55m, compared to KES18.58bn of the previous year. The company noted the effects of a contracting market in Kenya on its performance. Meanwhile, in Uganda, a combination of lower sales due to production challenges, competitive pressure on prices and a slowdown in government expenditure negatively impact... |
Two Nigerian producers to raise capital funding of NGN250bn31 August 2018, Published under Cement NewsNigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate purposes. Meanwhile, Lafarge Africa's shareholders have approved a resolution to raise more than NGN... |
Lafarge Malaysia invests in new baghouse31 August 2018, Published under Cement NewsLafarge Malaysia Bhd has installed a new MYR20m (US$4.8m) baghouse at its Kanthan cement plant following the installation of a MYR180m vertical roller mill in 2016. The new baghouse replaces the old electrostatic precipitator to reduce dust emissions at the plant. "The bag filter is cleaned at pre-programmed intervals and the dust particles are channeled into hoppers to be recirculated into the kiln process for efficient material utilisation, said Lafarge Malaysia. The upgrade at the Kan... |
Holcim Mexico to raise prices of bagged cement31 August 2018, Published under Cement NewsHolcim Mexico has announced that the prices of its bagged cement products will increase by seven per cent from 1 September. The hike has been attributed to the high volatility in the exchange rate as well as rising costs, with energy prices rising up to 22.9 per cent. The company has reportedly implemented mitigation measures, such as increasing process efficiencies, to reduce the impact of the effects on production and distribution expenses. |
Boral posts 49% net profit surge in FY1830 August 2018, Published under Cement NewsAustralia’s Boral has announced a 49 per cent YoY surge in in net profit to AUD441m (US$322.45m) for the FY18 ended 30 June. Sales revenue increased 34 per cent to AUD5.9bn, while EBITDA advanced 47 per cent to AUD1.06bn. The significant earnings growth has been attributed to the acquisition of Headwaters Inc in the US, alongside Australia’s booming construction market, according to a press release. "In recent years we have worked to initially fix and then transform Boral’s portfolio to ... |
Lafarge Cooktown plant celebrates 50 years of production30 August 2018, Published under Cement NewsLafarge Cement Ireland is celebrating 50 years of clinker and cement manufacturing at its Cookstown Plant. Launched in 1968, the plant is now responsible for producing a substantial volume of cement each year, employing almost 100 staff both in Cookstown and at the business’ cement terminal in Belfast. In 2015, the Lafarge Cement business was acquired by Aggregate Industries as part of the global merger between Lafarge and Holcim. The transition meant that, for the first time, Aggregate... |
Cherat Cement’s FY18 profit increases by 9%30 August 2018, Published under Cement NewsCherat Cement Co Ltd (CHCC) of Pakistan earned a net profit of PKR2.13bn (US$17.3m) in FY18, up by nine per cent YoY, as compared to PKR1.96bn in the same period last year. Net sales grew substantially by 49 per cent YoY to PKR14.39bn largely driven by full year operations of production line II, inaugurated in January 2017. This was despite the industry's failure to pass over enhanced FED, up by 25 per cent YoY during the year due to intense competition therein, an analyst observed. The... |
ThaiGroup receives land for Minh Tam plant construction30 August 2018, Published under Cement NewsThe People’s Committee in Binh Phuoc, Vietnam, has decided to hand over 430,612m 2 of land to ThaiGroup JSC for the construction of the Minh Tam cement plant. ThaiGroup initiated the project in early-2017 by acquiring it from Mien Dong JSC, which was facing financial difficulties. The plant represents a total investment of VND12trn (US$515m) and is expected to eventually operate at a cement capacity of 4.5Mta. Construction is anticipated to be completed within two years. Meanwhile, the f... |
Prime Cement's new plant begins construction29 August 2018, Published under Cement NewsConstruction of Prime Cement’s new plant in Musanze, Rwanda, began on Thursday. The cement manufacturer, part of Milbridge group, plans to complete the works within the next 12 months. The facility is expected to produce 0.6Mta of cement during the first phase and increase to 1.2Mta in the second. "Rwanda is a stable country with a very stable political situation, the economy is growing very impressively and we were supported by local authorities such as the Governor, and even the Presiden... |