Cement News tagged under: corporate
Yanbu Cement begin cement and clinker exports27 March 2018, Published under Cement NewsYanbu Cement Co has signed a one-year agreement to export 1Mt of clinker and 0.5Mt of cement as of April 2018. The company added that the deal is expected to boost company's revenues by SAR100m (US$26.6m) during FY18. Analysts EFG Hermes estimates that the cement producer will sell cement at SAR140/t (a discount to prevailing 4Q17 price it had reported but substantiated given large quantities) and clinker at SAR65/t (which is close to its cost of SAR60/t). EFG Hermes assume the total agr... |
Orient Cement plans to expand facility in Telangana27 March 2018, Published under Cement NewsIndia-based Orient Cement has announced plans to expand its facility in District Mancherial, Telangana. The project is worth an estimated INR21bn (US$323.74m) and involves adding capacity to its waste heat recovery (WHR) unit, increasing output potential to 75MW from 50MW. An application for environmental clearance has been submitted, and once fully approved, the project is expected to be completed within a 24-month period. |
CCNN record 39% increase in revenue for 201727 March 2018, Published under Cement NewsCement Company of Northern Nigeria (CCNN) Plc has announced a 39 per cent YoY increase in revenue for the full-year 2017 period, to NGN19.59bn (US$54.41) from NGN14.09bn. Despite the cost of sales rising 18 per cent to NGN11.98bn, profit after tax advanced 157 per cent to NGN3.22bn (2016: NGN1.25bn). As a result, the directors of the company have approved a dividend of NGN1.57bn, or 125 kobo per share, for the shareholders. |
Raysut Cement opens new packing line27 March 2018, Published under Cement NewsOman's Raysut Cement Co recently inaugurated a new packing line, installed by a leading European equipment manufacturer. The new line will double the packing capacity at its Salalah plant, enabling the company to supply an additional 1Mta of bagged supply to the export markets of Yemen, Somalia and east Africa. The project represents an investment of OMR1.5m (US$3.9m). |
Eurocement Ukraine improves sales27 March 2018, Published under Cement NewsEurocement Ukraine produced 1.12Mt of cement in 2017, representing a 1.9-fold rise YoY. The company shipped 1.1Mt of product to consumers. The company’s net loss contracted 14 per cent YoY to UAH145.6m (US$5.52m). |
SCHADE Lagertechnik GmBH attains ISO and OHSAS recognition27 March 2018, Published under Cement NewsIn January 2018 S CHADE Lagertechnik GmbH, Germany, achieved re-accreditation under the international quality management system ISO 9001, as well as under the environmental standard ISO 14001 and the occupational health and safety standard OHSAS 18001. The audit was carried out by TÜV Hessen and completes S CHADE ’s transition to the newly-recognised 2015 standard for quality and environmental management. The ISO 9001 Quality Management Standard is the most prevalent and significant stand... |
BUA Group CEO nominated for African CEO of the year27 March 2018, Published under Cement NewsExecutive Chairman/CEO of BUA Group Abdulsamad Rabiu has been shortlisted as a nominee for the Africa CEO of the year Awards scheduled to be held in Abidjan, Côte d’Ivoire. Within the year under review, BUA Group opened its US$1bn cement plant line 1 and 2 in Obu-Okpella in Edo State, completed the construction of its Sokoto Cement expansion, concluded the construction of its BUA rice mill in Kano State and completed its BUA sugar plant in Port Harcourt. The Africa CEO of the Year Award... |
Phinma Group plans new capacity26 March 2018, Published under Cement NewsPhinma Group has announced plans to return to the Philippine cement market, according to the Business Inquirer. The company is constructing a 2Mta plant in Bataan, which is expected to be operational by the 1Q19. Registered by Phinma in September 2017, Philcement has begun supplying the market to prepare the distribution network for when the new plant comes online. The company’s flagship brand, Union Cement, has been reintroduced into the market as part of the project. According to Ed... |
Cementos Argos USA takes out US$100m loan26 March 2018, Published under Cement NewsING Bank NV a global financial institution, closed a US$100m loan to Argos USA LLC, a subsidiary of Cementos Argos SA on 23 March 2018. Cementos Argos, a multinational cement and concrete producer in Colombia, the United States, Central America and the Caribbean, will use the loan for corporate purposes. |
Caribbean Cement considers exiting lease agreement26 March 2018, Published under Cement NewsCaribbean Cement could reduce its costs by approximately a third, US$10m, annually if it exits a lease agreement with its parent company, Trinidad Cement Company (TCL), according to The Gleaner. The company is projected to spend about US$25m on the 2017 operating lease for its Rockfort facility in Kingston. The plans would involve terminating that annual payment and buying back the plant, which is valued at US$118m. Caribbean Cement will make an announcement on the outcome within 90 days.... |