Cement News tagged under: corporate
Cementos del Norte invests HNL700m in Choloma plant15 March 2018, Published under Cement NewsCementos del Norte (CENOSA) is investing HNL700m in its cement plant in Bijao community, Choloma. The investment will increase the works’ production capacity and storage as well as increase its ability to process alternative fuels in its kilns, according to Edwin Argueta, the company’s general manager. “We are installing a new cement mill with first-world technology to increase our grinding capacity, to deliver more product to the national and international market,” he added. The new mill... |
US Department of Justice to investigate Cemex over Maceo plant payments15 March 2018, Published under Cement NewsThe US Department of Justice is investigating Mexico's Cemex SA over payments concerning the construction of the Maceo cement plant in Colombia. Cemex is being investigated over whether it violated federal bribery laws. Cemex said in a filing Monday that it had received a federal grand jury subpoena related to the Colombian project, located in the municipality of Maceo. According to a September 2016 filing, Cemex paid roughly US$20m to a non-governmental employee of CI Calizas y Minera... |
Siam Cement to appoint a new director15 March 2018, Published under Cement NewsAir Chief Marshal, Satitpong Sukwimol, a close aide of Thailand’s King Vajiralongkorn, is awaiting shareholder approval to become a director of Siam Cement Group (SCG). Mr Sukwimol has previously served on the board of the national flag carrier, Thai Airways International from 2009-13. More recently, he was appointed director-general of the Crown Property Bureau on Sunday. The multibillion-dollar royal property management organisation manages the assets of the king, including stakes in SC... |
Siam City Cement posts 28% revenue increase 43% net profit dip 201714 March 2018, Published under Cement NewsSiam City Cement announced a total consolidated revenue increase of 25.8 per cent to THB43.885bn in 2017 from THB34.896bn the previous year. Net sales increased 27.6 per cent YoY to THB43.634bn from THB34.192bn during the same period. But as expenses surged 34.8 per cent YoY to THB39.632bn, the company’s profit before joint venture and associate shares, finance cost and income tax expenses fell by 22.7 per cent to THB4.253bn from THB5.501bn in 2016. Net profit came down 42.6 per cent ... |
UltraTech Cement secures winning bid for limestone block14 March 2018, Published under Cement NewsUltraTech Cement has emerged as the winner in the auction of Chhattisgarh’s Guma limestone block. Over 600 bids were made for the mine in an e-auction that lasted for 15 hours, according to The Times of India. The state will receive approximately INR73.9bn (US$1.14bn), marking a new record in revenue accrued from a mineral auction. The amount reached 138.3 per cent of IBM price (INR431/t), and is in addition to other fees payable to the state. "In the second phase of auctions, participat... |
State Bank of India may take five companies to NCLT14 March 2018, Published under Cement NewsBurnpur Cement and four Patni Group entities may be brought to the National Company Law Tribunal (NCLT) by the State Bank of India (SBI) for insolvency proceedings, according to The Economic Times. The Patni Group has defaulted on INR30bn (US$462.17m) of unpaid loans and dues, while Burnpur has defaulted on INR2.5bn. SBI has not commented on the allegations that it will take the borrowers to court. The bank currently accounts for the highest amount of gross non-performing assets in the cou... |
ARM Cement issues profit warning for 201713 March 2018, Published under Cement NewsKenya-based ARM Cement has issued a profit warning for the 2017 period, suggesting that the company will post a loss of at least KES3.5bn (US$34.5m). According to a notice sent on Monday, the producer anticipates that the loss will widen by a further 25 per cent from KES2.8bn recorded in 2016. "The Group’s performance has been adversely affected by difficult market conditions and import ban for coal in Tanzania, by the prolonged and disruptive election period in Kenya, as well as a strai... |
Cemex is the first company to operate plants by remote control13 March 2018, Published under Cement NewsCemex has announced that it is the first company in the industry to successfully operate plants by remote control. The company’s monitoring and remote control system, Centro de Control Cemento (C3), operates in real time and tracks the live data of 14 cement plants, 25 kilns and 86 grinding mills in Mexico, alongside a facility in Colombia and another in the US. Cemex created the C3 to unify the control systems of all its cement plants to make real-time optimal decisions. From its central ... |
Cementarnica Usje net profit falls 9% in 201713 March 2018, Published under Cement NewsMacedonia’s Cementarnica Usje reported a nine per cent YoY fall in its non-consolidated net profit to MKD1.09bn (US$61.8m) in 2017. The Titan-owned company’s operating profit decreased 10 per cent to MKD1.18 as operating expenses rose six per cent to MKD3.33bn, the cement producer said in a bourse filing. Operating revenues increased by three per cent to MKD4.58bn, driven by a 42 per cent YoY rise in export revenues to MKD1.56bn, which were able to set off a nine per cent contraction ... |
Phinma Corp begins imports from Vietnam13 March 2018, Published under Cement NewsPhilippine cement company Phinma Corp has recently imported 50,000t of cement, or approximately two million bags, from Vietnam with plans to import the same volume per quarter to a total of 200,000tpa as it breaks into the Philippines market. The Philippine cement market is expanding rapidly due to large government-funded infrastructure projects. Registered by Phinma Corp in September 2017, PhilCement aims to produce around 3Mta of cement. Phinma is headed by Eduardo Sahagun, formerly... |