Cement News tagged under: corporate
Whale Rock Cement ready to start production in April08 March 2018, Published under Cement NewsWhale Rock Cement, a joint venture between Chinese businesses and a Namibian partner, is to start producing cement in April, under the Cheetah Cement brand, according to company spokesperson Manfred Uxamb. Mr Uxamb said the plant will start operating at the end of next month but will only be fully operational by the end of August 2018. The US$350m plant will have a cement capacity of 1.2Mta making it the country's largest cement producer with a staff of 600. According to Mr Uxamb, cement m... |
Sit-in at Egypt's National Cement prompts Parliamentary investigation08 March 2018, Published under Cement NewsEgypt's National Cement Company is to be investigated after parliament decided it must resolve the dispute that has seen factory workers start a hunger strike and a sit-in, nearly a week ago, after 75 per cent of their wages were deducted. Work ground to a halt at National Cement company last November and MPs are demanding the real reasons for the government-affiliate's economic problems, when in 2017 it produced about 112 per cent of its set target (5500tpd), according to the development... |
Nuvoco Vistas wins improvement award08 March 2018, Published under Cement NewsIndia-based Nuvoco Vistas Corporation Ltd has won the 'Best in Class Continuous Improvement Award' during the 7th Manufacturing Supply Chain (MSC) Awards held in Mumbai. The award was given to the company’s Jojobera plant for demonstrating continuous improvement in manufacturing through cost reductions in specific power consumption and specific heat consumption, increasing productivity by using cementation additions and plant logistics, according to Asian News International. "This is a pr... |
Breedon Group reports earnings up 43% to GBP652m07 March 2018, Published under Cement NewsBreedon Group PLC reports revenues grew by 43 per cent to GBP652.4m (US$904.9m) in 2017 while underlying earnings before interest and tax (EBIT) increased by 35 per cent to GBP80.4m, including a full-year contribution from Hope Construction Materials Ltd. This equates to an underlying EBIT margin of 12.3 per cent and Breedon reports that it is making good progress towards its 2020 target of 15 per cent. Profit before tax rose by 52 per cent to GBP71.2m and underlying basic earnings p... |
Caribbean Cement reports lower profits in 201707 March 2018, Published under Cement NewsJamaica-based Caribbean Cement Ltd reported profits of JMD1.1bn (US$8.65m), down from JMD1.3bn in 2016, according to RJR news. Company profits were impacted by the shutdown of a clinker line for maintenance in the second quarter, which resulted in a loss of JMD89m (compared to a profit of JMD359m in 2Q16). Revenues increased to JMD16.5bn when compared with JMD15.7bn the previous year. |
Alexandria Cement reports increasing losses in 201707 March 2018, Published under Cement NewsEgyptian cement producer Alexandria Cement reported a consolidated net losses of EGP513.85m (US$ 29.13m) , when compared with net losses of EGP50.86m in 2016. The company’s standalone net loss in 2017 also widened from EGP187.48m to EGP301.79m during the same period. |
Ramco Industries to sell Kharagpur grinding unit07 March 2018, Published under Cement NewsRamco Industries Ltd has agreed with The Ramco Cements Ltd, a related party, for the sale of its clinker grinding unit in Kharagpur, West Bengal. The revenue contribution of the said unit was INR30,470m (US¢469m) - four per cent of Ramco Industries Ltd's revenue. The buyer will provide cash consideration of INR170m (US$36.1m) as part of the deal. |
UltraTech seeks clarity on Binani Cement bidding process07 March 2018, Published under Cement NewsUltraTech has approached the National Company Law Tribunal (NCLT) in Kolkata, seeking clarity on the evaluation of bids for Binani Cement, according to India Info Online. Dalmia Bharat outbid the company by approximately INR1bn (US$15.39m) to eventually win the assets. However, it has been reported that parameters such as the company’s background, experience and ability to pay upfront cash to secured lenders were taken into account. Binani Industries (BIL) has also petitioned the NCLT, cl... |
Sinai Cement swings into the red07 March 2018, Published under Cement NewsSinai Cement, Egypt, incurred consolidated net losses of EGP352.48m (US$19.99m) in 2017 from a net profit of EGP14.64m in 2016. Its standalone net results showed a net loss of EGP354.74m in 2017, following on from net profits of EGP13.47m the previous year, according to Arab Finance. |
Kuwait Cement FY17 profit falls 12%07 March 2018, Published under Cement NewsKuwait Cement saw a YoY increase of 15.4 per cent in profits to KWD4.94m (US$16.5m) in 4Q17 from KWD4.28m in 4Q16, according to a stock exchange statement. However, in FY17, Kuwait Cement reported a drop of 11.8 per cent in profits to KWD17.19m, compared to KWD19.49m in FY16. The fall is attributed to higher financing costs (KWD480,450) as well as a decline in consolidated profit (KWD3.55m). |