Cement News tagged under: corporate
Vicat announces plans for upcoming Indian projects12 March 2018, Published under Cement NewsVicat Group will invest INR5.1bn (US$78.4m) to set up a 1.75Mta greenfield grinding unit in Vizianagaram, Andhra Pradesh, India. The group’s subsidiary Kalburgi Cements Pvt Ltd has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB), an agency dedicated to attracting investments into the state. Vicat plans to invest approximately INR17.35bn in India over the next three years. Alongside financing the grinding unit, the money will also be used to ... |
Chia Hsin Cement Corp reports revenue decrease in February12 March 2018, Published under Cement NewsTaiwan-based Chia Hsin Cement Corp has announced its results for the Jan-Feb 2018 period, recording a 26 per cent YoY decrease in revenue from TWD404.17 (US$13.80m) to TWD297.68m. In February the company saw a 27 per cent fall in revenue to TWD125.59m from TWD171.51m of the year-ago period. |
Cementos Yaracuy scheduled to come online this year12 March 2018, Published under Cement NewsAs part of an agreement between Venezuela and India, Megatech International is currently building a 600tpd cement plant in the Barranco Amarillo sector of the Valeroso Peña Industria Complex, Peña, Venezuela. The Cementos de Yaracuy project is expected to generate 300 direct jobs. "When starting operations, it will produce 600tpd of cement, for a total of 4.5m bags of 42 kilos per year, of which a percentage will be destined to other states and 30 per cent to exports to Aruba, Curacao an... |
China Resources Holding forecasts significant increase in 1Q18 earnings12 March 2018, Published under Cement NewsChina Resources Cement Holdings (CRCH) said it expects a "significant increase" in group net profit for the first quarter ending on 31 March 2018, after it more than doubled its profit last year. Average selling prices of the company's cement products were about 33 per cent higher over the first two months of 2018 from a year earlier, the company said in a stock exchange filing. CRCH's group net profit jumped to HKD3.62bn (US$462m) in 2017, rising about 173 per cent from the year-ago perio... |
Dalmia Bharat-led bid approved by lenders09 March 2018, Published under Cement NewsLenders to the bankrupt Binani Cement have decided that a a Dalmia Bharat-led bid would be allowed, thereby overruling the objections of UltraTech Cement. The offer fulfilled all of the conditions and hence there is no reason to block it, reports a source for The Economic Times. At a meeting held in Mumbai on Wednesday, the lenders involved decided to seek the approval of their respective boards on the Dalmia-Bain bid, where it was also revealed that Dalmia had received CCI approval for t... |
Universal Cement Corp reports revenue decrease in February09 March 2018, Published under Cement NewsUniversal Cement Corp. has reported a decrease in revenue for the February 2018 period, falling 13 per cent to TWD268.12m (US$9.14m) from TWD308.36 of the year-ago period. However, the Jan-Feb revenue increased by eight per cent YoY from TWD672.2m to TWD728.6m. |
Cementir announces 13% EBITDA rise in 201809 March 2018, Published under Cement NewsCementir reported a 10.9 per cent increase in revenues to EUR1.14bn in 2017 from 1.028bn in 2016. EBITDA advanced by 12.6 per cent to EUR222.7m while net profit edged up 6.2 per cent to EUR71.5m from EUR67.3m. The figures do not include the Cementir Italia Group (discontinued operations), but do include Compagnie des Ciments Belges SA (CCB), which Cementir acquired on 25 October 2016. The company's net financial debt decreased from EUR562.4m to EUR536.6m. Employees reached 3021. "The ye... |
Loma Negra 4Q17 net revenue rises by 57%09 March 2018, Published under Cement NewsLoma Negra (InterCement group) announced its results for the three- and 12-month periods ended 31 December 2017 with net revenue for 4Q17 increasing 57.1 per cent to ARS4452m (US$218.9m), from ARS2834m (US$139.3m) in 4Q16, mainly driven by higher volumes sold across all segments along with increased prices. Total cement, masonry and lime sales volumes in Argentina increased 14 per cent YoY in 4Q17 to 1.76Mt, driven by increased construction activity both in infrastructure and private consu... |
The Ministry of Coal cancels mining licence09 March 2018, Published under Cement NewsIndia's Ministry of Coal has cancelled the mining licence for the Mandla South coal block won by Jaypee Cement, following the sale of the attached plants to UltraTech Cement. Jaypee sold three of the four projects linked to the block in Madhya Pradesh to UltraTech in January 2017, reports The Economic Times. According to a letter written by the Ministry, "The successful bidder had sold the end use plants, which is major lapse on the part of successful bidder and also shows the clear inten... |
Three Cemex USA quarries win NSSGA awards09 March 2018, Published under Cement NewsCemex USA's FEC Quarry in Miami won the National Stone, Sand & Gravel Association (NSSGA) 2018 Platinum Award for Excellence in Community Relations. Two other Cemex USA facilities in Florida also received community recognition from the NSSGA. Kirk Light, Cemex USA Regional President – Florida region, accepted the award during a ceremony at the NSSGA's Annual Convention in Houston, Texas. "The FEC Quarry and all of our operations in Florida are committed to developing long-lasting rela... |