Cement News tagged under: corporate
Dangote Cement records 31% revenue increase in 201721 March 2018, Published under Cement NewsDangote Cement Plc has announced its unaudited results for the full-year 2017 period, which show a 31 per cent YoY increase in revenue to NGN805.6bn (US$2.24bn) from NGN615.1bn. Revenue attributable to Nigeria grew by 29.6 per cent YoY, with the sales from the company’s three plants in the country contributing NGN552.36bn. The remaining NGN258.44bn was generated by plants in other African countries, with the revenue of Dangote’s pan-African operations rising 32.5 per cent. Profit after ta... |
Al Karama Holdings names six prequalifiers for Carthage Cement21 March 2018, Published under Cement NewsSix foreign groups have submitted bids for the acquisition of a 50.52 per cent interest in Tunisian cement producer Carthage Cement, according to Al Karama Holding, the company responsible for managing companies confiscated by the Tunisian state from the former regime of Zine El Abidine Ben Ali. Companies interested in purchasing the stake are Cementos Portland Valderrivas (Spain), Cemolins Internationacional SL (Spain), Omnium des Industries et de la Promotion (Morocco), Eurocem (Malta) ... |
Indocement opens new Palembang terminal21 March 2018, Published under Cement NewsIndocement has opened a new cement terminal in Palembang, South Sumatra, Indonesia. The 0.5Mta terminal will improve the company’s distribution and logistics in the western part of the archipelago. The cement producer has currently a market share of 14-15 per cent on Sumatra, which is the second-largest market in Indonesia after Java. The new terminal is expected to help raise this to 20-25 per cent. Indocement owns seven further terminals in Indonesia – Semarang, Lombok, Tanjung Prio... |
RHI Magnesita announces adjusted pro-forma revenue of EUR2677.2m21 March 2018, Published under Cement NewsRHI Magnesita saw pro-forma revenue up 11 per cent in 2017 to EUR2677.2m for its steel and industrial divisions. The results include consolidated 10-month results for RHI and two-month reporting for RHI Magnesita. RHI Magnesita's two-month revenue amounted to EUR1946.1m, up 17.9 per cent over the previous year. Reported revenue from the Industrial division amounted to EUR577.6m. Reported EBITDA amounted to EUR56.7m in 2017 with a margin of 2.9 per cent. Adjusted pro-forma revenue of th... |
Cemex considering Brazil and India entry20 March 2018, Published under Cement NewsCemex CEO, Fernando González, said the company is considering entering two new emerging markets, Brazil and India, according to Construction LatinoAmericana. "We could make acquisitions if they meet the conditions we have set, but if we do not find an attractive option to buy, we will do something else," the executive said, referring to a possible repurchase of shares. During the Cemex Day 2018, the CEO said that the Board planned to ask shareholders in April to authorise the sale o... |
UltraTech announces new bid for Binani Cement20 March 2018, Published under Cement NewsUltraTech Cement announced its intention to take over Binani Cement on Monday, with an offer of INR72.66bn (US$1.11bn). The new offer follows Dalmia Cement's claim that its INR63.50bn bid had been accepted by lenders last week. UltraTech's board has agreed to supply a 'comfort letter' guaranteeing the INR72.66bn in return for a 98.43 per cent stake in Binani Cement, according to DNA Money. Binani Industries and UltraTech have previously commented on the secrecy of the bidding process, ... |
Vicat enters framework agreements with Andhra Pradesh and Karnataka20 March 2018, Published under Cement NewsDuring the state visit of French President Emmanuel Macron to India, the Vicat Group has entered into two framework agreements with the Indian states of Andhra Pradesh and Karnataka to support them with their economic development. The group has confirmed its long-term interest in the market by announcing plans to double capacity at its Kalburgi cement plant in Karnataka and the construction of a new grinding unit in Andhra Pradesh. “We have seen for ourselves over the past few yea... |
Shun Shing Group consolidates international trading divisions20 March 2018, Published under Cement NewsHong Kong's Shun Shing Group has announced the launch of Cemcoa, the new name for its international trading arm. All of the group’s trading divisions have been consolidated under the new name and will operate out of 15 international offices. According to a press release, the company traded 11Mt of cement, cementitious materials and solid fuels in 2017. Alongside this, Cemcoa ships dry bulk cargo to over 90 ports. "We are very excited about this new step for Shun Shing Group. The Cemco... |
CEO of Shanshui Cement Group resigns20 March 2018, Published under Cement NewsChina’s Shanshui Cement Group has announced that its CEO and executive director, Li Heping, has resigned with immediate effect. Elsewhere, Liu Yiu Keung has stepped down from his role as chairman of the board and executive director of the company. Li Zhiqiang has also resigned from his position as vice chairman of the board and executive director. Following this, Li Liufa has been appointed as the chairman of the board and an executive director of Shanshui Cement. |
Thatta Cement's profit falls to PKR183.9m in 6MFY17-1819 March 2018, Published under Cement NewsThatta Cement Co Ltd's profit after tax fell from PKR389.8m (US$3.5m) to PKR183.9m (US$1.6m) during 6MFY17-18. Clinker production stood at 194,825t with a capacity utilisation of 76.4 per cent in comparison to clinker manufacture of 236,135t and capacity utilisation of 92.6 per cent during the corresponding period of last year. Lower off take of cement and accumulation of huge clinker stocks were cited as reasons for the decline in clinker production. Overall sales of the company during ... |