Cement News tagged under: corporate
Southeast Asia producers line up for LafargeHolcim Indonesia sale17 August 2018, Published under Cement NewsThe sale of LafargeHolcim's Indonesian unit has attracted the interest of several potential buyers in the region, including Japan's Taiheiyo Cement Corp, Malaysia's YTL Corp and PT Semen Indonesia, Bloomberg reports, citing unnamed sources. HeidelbergCement's Asian unit PT Indocement Tunggal Prakarsa is also considering a bid, Bloomberg reports. Negotiations are still at an early stage and LafargeHolcim could seek as much as US$2bn for the unit, Bloomberg says. LafargeHolcim owns 80.6 ... |
Linus Gitahi is appointed Chair of ARM Cement Board17 August 2018, Published under Cement NewsLinus Gitahi, former Nation Media Chief Executive, has been appointed the Chair of the ARM Cement Board following Wilfred Murungi's retirement. Deputy Managing Director Surendra Bhatia has also retired from the position effective immediately with Thierry Metro appointed as a non-executive, non-independent director. "The Board of Directors take this opportunity to extend its gratitude to the outgoing Chairman of the company and Deputy Managing Director for their immense contribution to the c... |
Former ARM CEO to remain as board member17 August 2018, Published under Cement NewsPradeep Paunrana, chief executive of ARM Cement PLC (Kenya), said on Thursday he planned to quit his post as part of a changes at the Kenyan cement maker, but now states he will stay on as a board member. "As founder shareholder and entrepreneur, I will be an active Board member and support the incoming CEO and the management team in strengthening stakeholder relationships with suppliers, customers and the Government in all the three East African countries where we operate," Pradeep Paunra... |
Cementarnica Usje's net profit falls 13% in 1H1817 August 2018, Published under Cement NewsThe consolidated net profit of Macedonian building materials producer Cementarnica Usje, part of the Titan Cement group, fell by 13 per cent YoY to MKD432.5m (US$8m) in the first half of 2018, the company said on Thursday. Cementarnica Usje's operating revenue fell nine per cent YoY to MKD1.96bn in the first six months of the year, according to data from its interim financial statement. The company's domestic market sales revenue dropped four per cent to MKD1.28bn, while sales abroad decli... |
Attock Cement achieves PKR4.40bn net profit in FY1816 August 2018, Published under Cement NewsThe Attock Cement company has announced its FY18 annual financial results, which shows its profit after tax at PKR4.40bn (US$35.8m) as compared to PKR3.03bn in the same period last year. It translates a growth of 45 per cent in profit YoY basis. Net sales of the company during FY18 have increased by 15 per cent YoY to PKR16.884bn, mainly achieved on account of impressive growth trend witnessed in local sales and impact of fresh capacity worth 1.24Mt resolving capacity constraints, an analy... |
Burnpur Cement reports net loss of INR441m in Apr-Jun quarter16 August 2018, Published under Cement NewsIndia’s Burnpur Cement reported a net loss of INR44.1m (US$0.629) in the quarter ended 30 June 2018. In the year-ago period the cement producer saw a net loss of INR334.2m. Burner’s sales reached INR195.9m in the April-June quarter. |
Cemex's Davenport site still seeks new use16 August 2018, Published under Cement NewsCemex's Davenport facility in Iowa, USA, has remained empty since the plant was closed in 2010. Cemex maintains ownership of the plant, and while it has been in negotiations to sell the site, the talks with an aviation company have stalled. The preferred bidder, Joby Aviation, is no longer planning to move its production to part of the empty 104-acre Cemex site, founder and CEO, Joe Ben Bevirt confirmed Monday. Instead, the company is in talks with the city of Marina to open a new product... |
Rain Industries awarded approval for mill upgrade15 August 2018, Published under Cement NewsRain Industries has received approval for the upgrade of its Unit II cement mill at Boincheruvupalli Village, Andhra Pradesh, India. Rain Cements, a wholly-owned subsidiary of Rain Industries, will see cement capacity increase from 2.033Mt to 2.795Mt in a INR419m (US$5.97m) project, which will be funded through internal accruals. The project is scheduled for completion by 30 June 2019. |
ARM seeks limestone mining permit15 August 2018, Published under Cement NewsARM is requesting government approval to mine limestone in five areas in Kilifi County, Kenya. The cement producer wants to mine the raw material over 24.931km 2 in the Chonyi, Pangani, Chairing, Maereni and Maseras areas. Kenya’s Ministry of Petroleum and Mining invited objections to the bid to be made within 42 days. This latest application is the third such permitting step following applications to mine in Kajiado and Makueni counties last month. These are currently under considerati... |
Elementia to invest US$30m in Yucatán grinding unit15 August 2018, Published under Cement NewsMexican cement producer Elementia will invest US$30m in a 0.25Mta grinding unit in Yucatán, reports CE Noticias Financiers. The project is in line with Fortaleza’s commercial strategy and part of the company’s previously-announced profitable growth strategy focussed on the countries where it currently operates – Mexico, USA and Costa Rica, according to a company statement. The new cement plant is scheduled to start operations at the end of 1H19, according to the company. |