Cement News tagged under: corporate
Ugandan President opens new Simba grinding plant29 August 2018, Published under Cement NewsUganda's President, Yower Museveni, has opened the Tororo grinding plant of Simba Cement and during the opening the owners of the factory announced that they would produce the lowest-priced cement in the country. Plant Manager, Guru Narendra Ravel, said the 50kg bags of cement produced at the Tororo plant would be sold at UGX25,000 (US$6.64), well below the average price of UGX32,000 (US$8.50). Simba Cement, part of National Cement Kenya Ltd, is the second of three cement plants that wil... |
Lafarge Malaysia invests MYR80m to boost efficiency29 August 2018, Published under Cement NewsLafarge Malaysia Bhd has allocated MYR80m (US$19.48m) to optimise its operational efficiency, which includes the installation of bag filters at all three of its integrated plants in the country. At the installation of the filter at the company’s Kanthan facility, Mario Gross, CEO, noted that it is replacing the current ESP system as a more efficient alternative. "It also captures dust particles, releasing only filtered air into the environment. The bag filter is cleaned at pre-programmed... |
EAPCC's plan to raise funds relies on court outcome28 August 2018, Published under Cement NewsKenya's East African Portland Cement Co (EAPCC) has announced that its plan to sell land to raise much-needed operational capital is dependent on the outcome of certain court cases. "We have all our land titles intact in the bank. They are under lock and key and those claiming share of Portland land assets need to understand this," said Peter ole Nkeri, managing director, EAPCC. The bailout plan was expected to raise KES15bn (US$149m), which would have enabled the company to pay its debts... |
Fauji Cement's net profits rise 31 per cent in 4Q1828 August 2018, Published under Cement NewsFauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post rehabilitation. FCCL net sales increased to PKR21.16bn from PKR20.42bn during this period. The com... |
Cahya Mata Sarawak reports 1H18 revenues of MYR750.3m27 August 2018, Published under Cement NewsMalaysia-based Cahya Mata Sarawak reported 1H18 revenues were up at MYR750.3m (US$183m) from MYR650.2m in 1H17. The 2Q18 period saw revenues of MYR395.3m up from MYR342.5m in 2Q17. Profits before tax stood at MYR144m in 1H18 up from MYR100.3m in 1H17. Profits for 1H18 were MYR143.9m up from MYR100.3m in 1H17m. The 2Q18 profit amounted to MYR100.4m up from MYR68.2m in 2Q17. Profits attrubutable to ordinary equity holders of the parent were MYR130.6m up from MYR83.3m in 1H17. |
Titan to gain control of Adocim Joint venture24 August 2018, Published under Cement NewsTitan has reached an agreement to increase its participation in its joint venture in Turkey. Adocim Cimento Beton Sanayi ve Ticaret A.S. is a 50-50 per cent joint venture established between the Cem Sak Group and Titan in 2008. It consists of a modern cement plant with 1.5Mta cement capacity, a 0.6Mta grinding unit and three ready-mix concrete units. Titan has reached an agreement with its partner to acquire an additional 25 per cent of Adocim, while at the same time disposing of its 50 pe... |
Claude Loréa appointed Cement Director for GCCA24 August 2018, Published under Cement NewsClaude Loréa has been appointed Cement Director of the Global Cement and Concrete Association (GCCA). The London office-based role will be taken up by Ms Loréa in November when she arrives from the European cement industry body, CEMBUREAU. Ms Loréa will report to GCCA Chief Executive, Benjamin Sporton and will be a member of the executive team. The role will entail leadership in all aspects of the GCCA's work including sustainability as a key priority to oversea the smooth transition of a... |
Arabian Cement makes 2Q18 net loss of SAR50.9m24 August 2018, Published under Cement NewsArabian Cement Company (ACC) registered a net loss of SAR50.9m (US$13.5m) in the 2Q18 mainly due to reduced performance at its Qatrana Cement factory in Jordan. The company's net profits fell by 5.5 per cent in 2Q18 compared to 2Q17, while sales reached 0.533Mt in 2Q18 down 34 per cent YoY. The Qatrana Cement plant recorded a higher than estimated net loss of SAR52.2m in 2Q18. The company held an inventory of 1.34Mt by the end of June, representing 42.2 per cent of the last 12 month's pro... |
New Vietnamese project receives support24 August 2018, Published under Cement NewsVietnam's Ministry of Construction has agreed with Cong Thanh Group's proposal to invest in a second grinding unit in Thanh Hoa province. According to the government's plan for the country's cement industry in 2011-20 with a vision to 2030, new cement projects must be developed alongside the same clinker capacity. The company commissioned a 11,000tpd (3.6Mta) kiln and 1.5Mta grinding station in 2015. Therefore, an additional 2Mta grinding unit is in line with the government's plans, accord... |
Sino-Zimbabwe Cement receives ISO certififcation24 August 2018, Published under Cement NewsSino-Zimbabwe Cement Company (SZCC) has been certified by the International Organisation for Standardisation (ISO). The majority of the company's cement products are consumed in Zimbabwe with a small amount of exports. The ISO certification will make it easier for the producer to market its products internationally. Mr Wang Yong, SZCC managing director said: "We applied for ISO approval and we were successful because a few weeks ago we received an approval. This is after we continually prod... |