Cement News tagged under: corporate
Power Cement releases update on expansion project06 April 2018, Published under Cement NewsPower Cement Ltd has released a progress report regarding its brownfield expansion project at its facility in Nooriabad, Pakistan, for the quarter ending 31 March 2018. The new 7700tpd line is expected to increase plant capacity to 3.5Mta, making the company the second-largest cement producer in the southern region. The site is positioned close to Sindh province and Karachi, with direct links to both seaports of the capital. The company has issued letters of credit for the supply of engi... |
TCK reports 13% increase in operating revenue05 April 2018, Published under Cement NewsBosnian cement producer Tvornica Cementa Kakanj (TCK) recorded a 10.2 per cent YoY decrease in net profit for 2017, falling to BAM15.9m (US$10m) from BAM17.7m. However, the company’s operating revenue increased 12.7 per cent to finish at BAM70.2m, according to its annual financial report. Similarly, operating costs rose 13.1 per cent to BAM54.2m (2016: BAM47.1m). TCK is majority-owned by CEEM Investment, which is part of HeidelbergCement. |
Minister requests Vicem to step up performance05 April 2018, Published under Cement NewsThe Vietnam Cement Industry Corporation (Vicem) has been challenged, at a working session, by Mai Tien Dung, Minister and Head of the Government Office, to attach special importance to restructuring and equitisation – two of the key tasks assigned by the Vietnamese government and the Prime Minister for the corporation. The Minister stressed that Vicem must boost the quality and effectiveness of its operations. Minister Dung emphasised that VICEM should increase its share of the domestic... |
CEO to list BUA Cement on the Nigerian Stock Exchange05 April 2018, Published under Cement NewsThe founder of BUA Group, Abdulsamad Rabiu, has announced plans to list the cement sector of the company on the Nigerian Stock Exchange (NSE). Abdulsamad Rabiu, recently nominated for African CEO of the year, stated that he would list BUA Cement on the NSE as soon as it meets the necessary requirements, according to an interview on Channels Television. "We are definitely going to list the cement business because I think we should also give others the opportunity to participate in the... |
Thomas Schmidheiny and Bertrand Collomb retire from LafargeHolcim Board of Directors04 April 2018, Published under Cement NewsThomas Schmidheiny has taken the decision not to stand for re-election at LafargeHolcim’s upcoming Annual General Meeting on 8 May 2018, according to a company press statement. Mr Schmidheiny has been with the Group for almost 50 years in different management functions and later on the Board of Holcim. Following the merger, Thomas Schmidheiny has been a Board member of LafargeHolcim since 2015. He will remain one of the Group’s main shareholders. In recognition of his many years of service... |
Lafarge Cement Zimbabwe reports 4% revenue decline in 201704 April 2018, Published under Cement NewsLafarge Cement Zimbabwe Ltd posted a loss of US$609,589 for the year ended 31 December 2017. Revenue during the period under review fell 4.14 per cent to US$58.4m from US$61m recorded at the end of 2016. Total current liabilities rose by 9.2 per cent to US$38.18m. Lafarge Cement Zimbabwe Chairman, Kumbirai Katsande, said a full-year sales decline of four per cent was recorded with reduced volumes, which contributed to the loss. Heavy rainfall adversely affected cement stocking patterns... |
Ciments de Bizerte resumes exports after a decade04 April 2018, Published under Cement NewsCiments de Bizerte has restarted exports after 10 years with a 25,000t shipment of clinker to Cameroon. The consignment is part of the company’s renewed efforts to enter the export markets with bulk deliveries of clinker and cement. The Tunisian cement producers plans to export large volumes of clinker and bulk to African and Mediterranean markets, its CEO, Jalel Ben Ohman told TAP news agency. Ciments de Bizerte is investing TND250m (US$104m) in modernising its packing equipment and upgra... |
Cementir Holding completes acquisition of Lehigh White Cement Co stake04 April 2018, Published under Cement NewsCementir Holding completes today the acquisition of an additional 38.75 per cent stake in Lehigh White Cement Co. The acquisition of the stake from HeidelbergCement-owned Lehigh Cement Co LLC was announced on 14 February 2018 and purchased at a price of US$106.6m, on a cash and debt-free basis. Following the transaction, Cementir will hold 63.25 per cent of shares in Lehigh White Cement Co, with the balance of shares owned by Cemex Inc. The purchase allows Cementir to directly manage ... |
Phuc Son Cement violates mineral licence04 April 2018, Published under Cement NewsPhuc Son Cement's exploited mineral volume has exceeded the volume it initially licensed in 1996, said the State Audit of Vietnam (SAV) in an inspection report submitted to the country's Prime Minister and Chairwoman of the National Assembly of Vietnam. Phuc Son Cement Corporation will now be under investigation due to violations in exploiting minerals. Phuc Son Cement has reportedly used out-dated technology to exploit resources, causing serious environmental pollution, says Dantri news... |
Tanzania Portland Cement's profits fall to TZS35.5bn in FY1703 April 2018, Published under Cement NewsTanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016. According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs. Income tax nearly doubled to TZS30bn in 2017 from TZS17.6bn in 2016, while costs of sale also went up to TZS184bn from TZS170bn in 2016. ... |