Cement News tagged under: corporate
Birla Corp plans 3.9Mta plant in Maharashtra06 August 2018, Published under Cement NewsIndia's Birla Corp Ltd has announced that its RCCPL subsidiary plans to set up a 3.9Mta facility in Mukutban, Maharashtra, at an investment cost of INR24.5bn (US$356.8m). The project includes a 40MW captive power plant and a 10.6MW heat recovery system. The plant has already received environmental clearance, and is expected to be financed through a mix of debt and internal accruals. The move will increase Birla group’s capacity to 19.5Mta in the 2021-22 period, compared to the current 15.5... |
Mangalam Cement reports net loss of INR153.2m06 August 2018, Published under Cement NewsIndia-based cement producer Mangalam Cement has reported a standalone net loss of INR153.2m for the quarter ended June 2018, compared with a net profit of INR121.1m in the quarter ended June 2017. Sales edged up one per cent to INR2.541bn in the 1QFY18-19 when compared with sales of INR2.516bn in the year-ago period. |
Buzzi Unicem's 1H18 net sales fall to EUR1337.4m03 August 2018, Published under Cement NewsBuzzi Unicem's net sales for the 1H18 were down 1.2 per cent to EUR1337.4m compared to EUR1353.8m in 2017, while EBITDA decreased by 5.7 per cent from EUR241.1m to EUR227.4m. The currency trend had a net unfavourable impact of EUR72.2m on net sales and EUR18.8m on EBITDA. The income statement for the six months closed with a net profit of EUR123m, compared to EUR117.6m in the same period of 2017. Consolidated EBITDA amounted to EUR227.4m, versus EUR241.1m in 2017 (-5.7 per cent). Cement ... |
RHI Magnesita announces Indian merger03 August 2018, Published under Cement NewsRHI Magnesita has announced a merger between its three companies in India, Orient Refractories, RHI India and RHI Clasil. Upon completion, the move will consolidate the group’s position in the Indian market to allow it to tap into its growth potential more effectively, according to a press release. While subject to regulatory approval, the merger is expected to be completed within the next 9-12 months. The combined company expects an operating revenue of INR12,356m (US$182.23m) on a profor... |
Tvornica Cementa Kakanj records 26% net profit increase03 August 2018, Published under Cement NewsBosnia’s Tvornica Cementa Kakanj (TCK) facility has recorded a 26.3 per cent YoY increase in net profit to BAM9.1m (US$5.4m) in the 1H18, according to its financial report. Operating revenue advanced 10.7 per cent to BAM35.6m, while operating costs also rose 6.4 per cent to BAM26.6m. TCK is majority-owned by Dutch-based CEEM Investment, a unit of HeidelbergCement. |
HeidelbergCement attracted to possible LafargeHolcim Indonesia sell-off02 August 2018, Published under Cement NewsHeidelbergCement could buy parts of LafargeHolcim's business in Indonesia that is up for sale, says HeidelbergCement CEO, Dr Bernd Scheifele. LafargeHolcim is planning to raise around CHF2bn (US$2.02bn) from selling assets as it reduces its operations, with speculation that its business in Indonesia could be among the candidates for sale, claims Reuters. "LafargeHolcim is in the market regarding the sale of its entire Indonesia business. In principle we always look at such topics... but it... |
Caribbean Cement's net profit rises in 2Q1802 August 2018, Published under Cement NewsCaribbean Cement Company's net profit for the April to June quarter rose to JMD704m (US$5.24m) compared to was up from JMD629m during 2Q17. The company's revenues also rose by 11 per cent to JMD4.4bn in the 2Q18. In the first six months of 2018, the cement producer earned JMD8.8bn in revenue, which represented an increase of nine per cent over the corresponding period last year. |
Paraguay's INC to inaugurate new Villeta mill02 August 2018, Published under Cement NewsIndustria Nacional del Cemento (INC) will inaugurate its new US$11.5m cement mill tomorrow, enabling the plant to increase production by 50 per cent, according the cement company. The new 80tph mill has been operational since February, working in parallel with the old mill, which was installed in 1985. Output is expected to rise to 390,000t at Villeta. As a result, the company expects to increase its market share from a current 51 per cent to 70-75 per cent and increase revenues by US$50m. |
Lucky Cement earns PKR12.20bn after-tax profit in FY1801 August 2018, Published under Cement NewsLucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR30.59bn, mainly on account of elevated coal and fuel oil prices on the international market, the dev... |
CCNN appoints new independent directors01 August 2018, Published under Cement NewsThe Cement Co of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as independent directors of the company. Effective from 12 July, the appointment also includes Abbas Ahmad Gandi as a non-executive director. Abdul Samad Rabiu, chairman of the CCNN board of directors, has reportedly stated that the installation of new board members is in line with the company’s commitment to the best corporate governance practices, according to T... |