Cement News tagged under: corporate
Three million shares in Sampyo Cement to be sold04 May 2018, Published under Cement NewsTongyang Networks Corp says it plans to sell three million shares in Sampyo Cement Co Ltd, a South Korean cement firm, for KRW13.72bn (US$12.8m). Sampyo Cement is a slag cement producer with a cemnt capacity of 11Mta that owns the Samcheok integrated plant producing Portland cement and a grinding plant in Donghae, as well as two slag cement plants in Gwangyang and Busan. |
FLSmidth to modernise its Valby HQ offices04 May 2018, Published under Cement NewsFLSmidth is building a new campus in Copenhagen that will be the workplace of more than 1000 people. An agreement signed between FLSmidth and ATP Real Estate marks the first step towards a new, modern campus on the Valby HQ site in Copenhagen. Converting the property into the new campus will involve a full-scale renovation of the historic buildings facing Vigerslev Allé worthy of preservation combined with the addition of brand new office facilities. "Our existing buildings do not meet ... |
Orient Cement announces 4% revenue increase04 May 2018, Published under Cement NewsIndia's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period. The results have been partially attributed to weak demand in the southern market, which resulted in a capacity utilisation rate of below 85 per cent. Furthermo... |
Vicat advances in most areas, other than Egypt and Switzerland03 May 2018, Published under Cement NewsVicat's 1Q18 turnover showed 3.9 per cent improvement to EUR573m, which represents an underlying advance of 10.8 per cent at constant parameters and exchange rates. The cement turnover grew by 2.5 per cent to EUR290m, as cement shipments advanced by 6.5 per cent to 5.21Mt. Before inter-sector eliminations, the cement turnover amounted to EUR342m, a two per cent improvement. The turnover in concrete and aggregates was 2.9 per cent ahead at EUR215m, which represents an underlying recovery of n... |
Umm Al Qura Cement announces fall in net profit03 May 2018, Published under Cement NewsSaudi Arabia’s Umm Al Qura Cement Co has announced a 40 per cent YoY fall in net profit for the first quarter of 2018, decreasing to SAR10.2m (US$2.72m) from SAR17m, according to Reuters. However, revenue has increased 9.3 per cent to SAR56.5m, compared to SAR51.7m of the year-ago period. |
GICA exports first clinker to Europe03 May 2018, Published under Cement NewsThe Algerian Industry Ministry said GICA exported its first shipment of clinker to Europe in April. A subsidiary of state-run GICA Group delivered 45,000t. The shipment is part of a contract to export 200,000t to Europe. GICA is expected to export more cement to African and European countries in the near future, the statement noted. |
UKQAA appoints new chair person03 May 2018, Published under Cement NewsThe UK Quality Ash Association (UKQAA) has appointed Tarmac's Allan Everett as the association's new chair, taking over from Power Minerals' Ivan Skidmore who spent four years in the role. The UKQAA is the UK's leading authority on the use of quality ash in construction and engineering applications and represents a range of members from across the construction supply chain. Allan Everett, also Tarmac’s ash business manager, will help steer the association and work with its membership, to... |
Pakistan cement firms see profits fall02 May 2018, Published under Cement NewsPakistani cement companies continue to report decreases in profits, largely due rises in the cost of sale and other factors in the 9MFY17-18. DG Khan Cement Co Ltd (DGKC) earned a net profit of PKR4.96bn (US$40.4m) in 9MFY18 compared to PKR6.45bn (US$55.6m) in the corresponding period of the previous financial year, representing a 23 per cent YoY drop. Net sales rose to PKR23.37bn from PKR22.63bn during this period. DGKC incurred a distribution cost of PKR691m against PKR231m in the year... |
Caribbean Cement pays first instalment of asset buyback02 May 2018, Published under Cement NewsJamaica’s Caribbean Cement Co Ltd (Carib Cement) has paid the first instalment of JMD1.3bn (US$10.50m) on an asset buyback agreement with its parent company, Trinidad Cement Ltd (TCL). The agreement means that Carib Cement has 90 days to pay US$118m to TCL, to reclaim ownership of Kiln 5 and Mill 5 at its facility in Rockfort, Kingston, according to The Jamaica Gleaner. "The initial payment of JMD1.3bn towards the acquisition represents a significant investment in plant and equipment, imp... |
Taiwan cement producers forecast profits from Chinese operations01 May 2018, Published under Cement NewsTaiwan and Asia Cement are expecting to experience a profitable year, on the back of price hike in China and increasing pressure on cement manufacturers on the mainland who cannot meet Bejing's stricter environmental regulations. Taiwan Cement Corp is forecast to generate net profit of TWD16.48bn (US$556.1m) for the whole of this year, a 117 per cent surge from TWD7.6bn last year, Taishin Securities Investment Advisory Co said. Taiwan Cement's revenue is forecast to grow 21.6 per cent a... |