Cement News tagged under: corporate
EAPCC announces net loss for 2H1701 March 2018, Published under Cement NewsEast African Portland Cement Company (EAPCC) has announced that its net loss worsened in the half-year period ended 31 December 2017. The loss widened by 290 per cent YoY to KES969.57m (US$9.57m) from KES248.12m of the year-ago period, according to The Star. This has been attributed to a fall in revenue to KES3.06bn from KES3.72bn, due to the adverse effects of political activity. "Revenue declined due to slow market uptake on account of prolonged political activity which dampened investmen... |
Dandot Cement Co posts PKR320m loss in 1HY17-1801 March 2018, Published under Cement NewsDandot Cement Company Ltd (DCCL) has announced that it has incurred a loss of PKR320m (US$2.88m) in 1HY17-18 as compared to a loss of PKR110m incurred in corresponding period last year. According to a notification of DCCL's to the Pakistan Stock Exchange (PSX), company sales decreased to PKR679m from PKR 1.07bn during this period. DCCL incurred a distribution cost of PKR2m against PKR13.5m in 1HFY16/17. The administrative expenses stood at PKR27m compared to PKR26m incurred in correspo... |
Dalmia Bharat wins bid for Binani28 February 2018, Published under Cement NewsDalmia Bharat Cement Ltd won the bid for Binani Cement on Tuesday, despite UltraTech Cement submitting an almost identical offer. The panel supervising the insolvency proceedings of Binani approved Dalmia’s resolution plan, which was backed by the Bain Piramal Resurgence Fund. Dalmia is expected to invest INR67bn (US$1.03bn) in Binani over a period of time. It has been alleged that UltraTech missed the opportunity due to concerns raised about penalties issued by the Competition Commissi... |
Kigali Cement to resume operations28 February 2018, Published under Cement NewsThe Rwandan cement market is being keenly contested for and the country's second-largest cement plant at Kigali Cement had to recently suspend operations and lay-off staff, according to All Africa. The ARM Cement owned Kigali Cement plant has a capacity of 100,00t and imports clinker from Tanga in Tanzania, but clinker and coal have been in short supply. "For a couple of years, the company has not been producing on a regular basis and to capacity due to limited availability of clinker from... |
Taiheiyo Cement appoints new president28 February 2018, Published under Cement NewsTaiheiyo Cement Corp has appointed Masafumi Fushihara as president and representative director, effective from 1 April 2018. Mr Fushihara is presently working within the company as Senior General Manager of the Cement Business Division Department. The current president, Shuji Fukuda, will become chairman of the business. |
BGC Cement acquires land for new depot28 February 2018, Published under Cement NewsBGC Cement is in the final stages of acquiring two industrial lots in West Kalgoorlie, Australia, which will become a major new depot for storage and distribution of cement. Construction of the project was due to begin in 2017, according to the Kalgoorlie Miner. "Having now almost settled our land acquisition, we are confident that development will begin in the second quarter of 2018," said Chris Sefton, Kalgoorlie regional manager, BGC. "There has been considerable, increasing demand... |
LafargeHolcim launches its Growth & Performance Organisation28 February 2018, Published under Cement NewsLafargeHolcim's new Growth & Performance organisation will support the execution of market strategies with the aim to support the growth of profitable businesses, leading in sustainability and operational performance. Miljan Gutovic will lead the Marketing & Innovation department supporting the growth strategy, commercial excellence, ready-mix performance, innovation, and research & development. Miljan brings 12 years of successful track record in new market identification and strategic p... |
Gujarat Sidhee Cement commissions WHR plant28 February 2018, Published under Cement NewsGujarat Sidhee Cement has commissioned a 5.5MW waste heat recovery unit at its plant in Sidheegram, with effect from Sunday. Elsewhere, the company reported positive results for the 3Q17, with sales rising 21.2 per cent YoY to finish at INR1.28bn (US$19.78m). Net profit reached INR46.2m, compared to a net loss of INR43.5m seen in the year-ago period. |
Gharibwal Cement earns PKR752m in 1HFY17-1828 February 2018, Published under Cement NewsGharibwal Cement Ltd (GCL) has announced its financial results for the half year ended 31 December 2017. It reported a profit after tax of PKR752m (US$6.7m) compared to PKR1.112bn, a fall of 32 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), GCL's sales decreased to PKR5.47bn from PKR5.52bn during this period. It incurred a distribution cost of PKR10m against PKR13m in 1HFY16-17. The administrative expenses stood at PKR193m compared to PKR18... |
Power Cement announces increase in sales28 February 2018, Published under Cement NewsPower Cement Ltd (PCL) has announced a fall of 18 per cent YoY in profit after tax for the half year ended 31 December 2017. According to a notification to the Pakistan Stock Exchange on 26 February, PCL's sales increased by 1.5 per cent to PKR2.09bn (US$18.85bn) compared to PKR2.06bn, recorded in the corresponding period last year. PCL incurred a distribution cost of PKR67m against PKR54m of the year-ago period. Alongside this, administrative expenses also rose to PKR57m (1HFY16-17: PKR3... |