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SMT Shipping and CSL Group announce shipping joint venture

09 May 2018, Published under Cement News

SMT Shipping (SMT) and The CSL Group (CSL) have announced an agreement for CSL to acquire 50 per cent of Eureka Shipping Ltd, SMT's pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world. CSL's Australian cement shipping business is not included in the joint venture. "The joint venture repres...

LafargeHolcim Bangladesh launches a new cement for plastering

09 May 2018, Published under Cement News

LafargeHolcim Bangladesh is launching a new specialised cement for plastering called Plastercrete. Plastercrete has been carefully tested to ensure quality and meet customers' particular needs. It covers a larger surface area using less cement, resulting in significant cost savings for customers, said LafargeHolcim's spokesperson. "It would be only for plastering and different from others available in the market," Rajesh K Surana, chief executive officer of LafargeHolcim, told a press brief...

Fauji Cement 9M net profits total PKR2.12bn

09 May 2018, Published under Cement News

According to Board of Directors report of Fauji Cement Co Ltd (FCCL), during the nine-month period ended 31 March 2018, it earned a net profit of PKR2.12bn (US$18.36m)  as compared to PKR1.972bn (US$17m) in the same period last year. FCCL achieved capacity utilisation of 98 per cent, compared to 87 per cent in the corresponding period of the last year. FCCL's local dispatches stood at 2.328Mt, compared to 2.132Mt during the corresponding period of the last year, showing an increase of nin...

LafargeHolcim reports continued sales growth in 1Q18

08 May 2018, Published under Cement News

Like-for-like net sales were up 3.1 per cent to CHF5.83bn, driven by growth in cement volumes, LafargeHolcim reported in its 1Q results release. In the quarter, the company sold 47.7Mt of cement, 49.8Mt of aggregates and 11.1Mm 3 of ready-mix concrete. While cement sales were up 3.2 per cent on a like-for-like basis, aggregate and ready-mix concrete sales slipped by 1.4 and 1.1 per cent, respectively. Recurring EBITDA was down 7.7 per cent on a like-for-like basis, affected by a harsh wi...

Holcim Philippines' net income drops in 1Q18

08 May 2018, Published under Cement News

Holcim Philippines Inc (LafageHoclim group) said net income in the first three months of the year dropped 25 per cent due to higher energy costs and lower cement prices. Holcim reported that net income for the period of PHP700m (US$13.49m), down from the PHP939.4m (US$18.1m) registered a year earlier. Margins were lower due to the higher cost of goods sold from higher input costs driven by fuel and power prices. Net sales fell three per cent to PHP8.6bn although cement sales volume incr...

Sanghi Cement gets environmental clearance for Abdasa

08 May 2018, Published under Cement News

Sanghi Cement has received environmental clearance for its capacity expansion project at Abdasa, Kutch district, India. The cement producer is currently boosting cement capacity from 4Mta to 8.6Mta and lifting its clinker capacity from 3.5Mta to 7.5Mta. The INR13bn (US$193.7m) investment also includes the establishment of a grinding facility at Surat. "We raised finance for the project sometime back and one of the fund raising conditions was that the company would have get environment...

Ciment de Bizerte exports clinker to Italy

08 May 2018, Published under Cement News

Ciment de Bizerte scheduled a ship to sail on 3 May from Tunisia to Italy, carrying around 8000t of clinker, as part of its export programme and continued performance tests of the company's new wharf facilities. The company has scheduled an additional 30,000t of clinker exports later in the month as well as the unloading of a petcoke vessel to ensure the smooth running of its facilities. Last month Ciment de Bizerte resumed exports to Cameroon .

Southern Province Cement 1Q profit falls 3%

08 May 2018, Published under Cement News

Saudi Arabian cement producer Southern Province Cement Co has reported a 2.9 per cent YoY decrease in net profits in the 1Q18. Net profits fell to SAR102m (US$27.2m) in the three-month period ended March 2018, compared to SAR105m in 1Q17, according to the company’s statement to the Saudi Stock Exchange. Southern Province has attributed the drop to a decrease in sales due to lower demand and a lower selling price. Total sales contracted 9.6 per cent to SAR274m from SAR303m in 1Q17.

Bangladesh cement profitability falls in 1Q18

08 May 2018, Published under Cement News

The Bangladeshi cement industry reports a fall in profit due to the increase in raw material cost despite an increase in sales volumes of 12 per cent in 1Q18. The earnings of listed cement companies at the Dhaka Stock Exchange declined moderately for January-March quarter of 2018 as compared to the same period of the previous year as profit margins were squeezed. Cement companies saw tighter margins due several factors, including higher raw material prices, while cement prices have not incre...

Eagle Cement records 3% net profit increase

04 May 2018, Published under Cement News

Philippines-based Eagle Cement Corp has recorded a three per cent YoY increase in net profit to PHP1.1bn (US$21.29m) for the first quarter of the year. Revenue has risen six per cent YoY to PHP4bn in the same period, according to The Philippine Inquirer. Eagle Cement attributed the performance to "long standing cost-effective and efficient production grounded on owning the country’s most-modern end-to-end cement manufacturing plant." "We remain confident about the future as private consum...