Cement News tagged under: corporate
Caribbean Cement plans to restart exports next year27 July 2018, Published under Cement NewsJamaica's Caribbean Cement Co Ltd aims to restart exports next year following the completion of its expansion, according to the Jamaica Gleaner. The company stopped exports last year to focus on the project which is expected to be completed in 2018. "I would love to restart exports to markets such as Bahamas, Bermuda, Grenada and the Caribbean," said Peter Donkersloot Ponce, general manager, Caribbean Cement. "While we do our maintenance plan, we need to focus on our local market because w... |
Cemex Latam Holding sees net sales fall 8% in 2Q1827 July 2018, Published under Cement NewsCemex Latam Holdings (CLH) reports consolidated net sales of US$280m during the 2Q18, eight per cent lower than in 2Q17, while operating EBITDA reached US$62m, 19 per cent lower than in 2Q17. In the 2Q18 domestic grey cement, ready-mix and aggregates volumes fell by eight, 14 and 12 per cent, respectively, compared to results in 2Q17. Meanwhile, consolidated prices in US-dollar terms increased by three per cent for cement, by one per cent for ready-mix and remained flat for aggregates. Jam... |
Titan's 1H18 net profit rises 78.3% but turnover declines 7%26 July 2018, Published under Cement NewsTitan Cement Group's 1H18 results showed a mixed performance with consolidated turnover reaching EUR712.5m, down EUR61.3m or 14 per cent on 1H17. Titan cited the strength of the euro against the dollar and other currencies as having a negative impact of EUR10m on group EBITDA. Still, net profits after tax amounted to EUR24.8m, up from EUR13.9m in 1H17. Turnover in 2Q18 was disappointing at reaching EUR390m compared to EUR412m in 2Q17. EBITDA in 2Q18 reached EUR78.7m, down 13.5 per cent on... |
Siam Cement's 2Q18 profits down 6%26 July 2018, Published under Cement NewsSiam Cement posted a six per cent drop in second-quarter profit on Wednesday, hurt by weak seasonal cement demand and its chemical business. Revenue from the cement and building materials business increased five per cent to THB44.6bn (US$1.34bn) due to demand from Vietnam, Indonesia and the Philippines but was held back by weak demand in Thailand. Profit came in at THB12.4bn for the three months ended June, compared with THB13.2bn a year earlier. Siam Cement's revenue rose 11 per cent i... |
Ambuja reports 27% rise in standalone net profit26 July 2018, Published under Cement NewsIndia’s Ambuja Cement has reported a 27.3 per cent YoY increase in standalone net profit for the quarter ended 30 June, rising to INR4.99bn (US$72.62m) from INR3.92bn. Net sales advanced 3.9 per cent to INR29.27bn, compared to INR28.17bn of the year-ago period. "Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment," said Ajay Kapur, managing director and CEO, Ambuja Cement. However, the company has recorded a 5.1 per cent fall i... |
GCC 1H18 sales rise by 11.4%25 July 2018, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) reports that its 1H18 sales increased 11.4 per cent to US398.8m, generating US$115m in EBITDA, up 22 per cent YoY. However, the company's net result slipped, registering a minor loss of US$0.6m. In the 2Q18, sales advanced 6.9 per cent to US$232.3m when compared with the 2Q17. EBITDA rose 8.7 per cent in the 2Q18 to US$69.4m. The company also reported a net loss for the 2Q18 of US$11.9m. During the 1H18 GCC completed the acquisition of the 0.315Mt capa... |
Cimerwa plant upgrade should see cement prices start to fall25 July 2018, Published under Cement NewsCimerwa expects its cement plant upgrade to stabilise the domestic market after shortages sent the price of a bag of cement up nearly 50 per cent in recent months. Rwanda has resorted to importing cement from neighbouring countries such as Uganda and Tanzania to cover the shortages. Bheki Mthembu, CEO of Cimerwa, told Reuters the company carried out maintenance and upgrade works on its plant in April and May, which had now been completed. The US$3.3m maintenance and upgrade programme at Cim... |
Molsabana to transport cement by rail25 July 2018, Published under Cement NewsColombia-based Molienda de la Sabana SAS (Molsabana) has signed a contract with Ibines Férreo, which will transport 320t of its cement every fortnight via the Bogotá-Belencito rail corridor. Molsabana owns a cement operation in Tocancipá, Cundinamarca and produces cement under the brand Fortecem. Established in 2013, the Tocancipá works is the successor to the 0.6Mta Sabanagranda works, whivh opened in 2004. This followed the commissioning of the 0.3Mta Betania works in 2000 and th... |
Vietnam's Ministry of Construction opposes transfer of Quang Son to Vicem24 July 2018, Published under Cement NewsVietnam’s Ministry of Construction has opposed the Ministry of Industry and Trade’s proposal to transfer the 1.5Mta Quang Son facility from Vinaincon to Vicem, both state-owned corporations, partially due to the plant’s losses and mounting loans, according to Viet Nam News. "Quang Son cement plant is located in an unfavorable position for transportation that leads to high production costs," said Luong Quang Khai, chairman of the board of members, Vicem. "In addition, the plant is suffe... |
Falcon Cement's 2017 revenue up 56%24 July 2018, Published under Cement NewsBahrain's Falcon Cement Company (FCC) has reported that its total income for 2017 rose to US$45.6m, while its net profit hit US$8.2m. "Despite challenging market conditions and competition, we're delighted to have achieved solid growth in our sales and market share. As a result, we saw profits rise a considerable 54 per cent," said Hisham Alrayes, chairman of the board of directors. "These are strong indicators of the continued strides we are making in the development of our business and... |