Cement News tagged under: corporate
ACC and Ambuja place merger on hold27 February 2018, Published under Cement NewsACC Ltd and Ambuja Cements Ltd have placed their proposed merger on hold due to constraints related to the transfer of mines under current laws, reports the Hindustan Times. "The current regime on transfer of mineral concessions is still evolving and does not provide for a merger currently," said a spokesperson for ACC. "Given the challenges of achieving such transfers across 18-20 states, it was found prudent not to pursue the same at this point of time." The merger has been under re... |
Kohat Cement profits fall by 25% in 1HFY17-1827 February 2018, Published under Cement NewsKohat Cement Co Ltd (KCCL) has announced a fall of 24.9 per cent in profit YoY for the half year ended 31 December 2017. KCCL reported a profit after tax of PKR1.644bn (US$4.6m) compared to PKR2.19bn (US$6m), earned in corresponding period last year. According to a notification of company to Pakistan Stock Exchange (PSX) on 26 February, its sales dropped by four per cent to PKR6.867bn from PKR7.164bn during this period. KCCL incurred a distribution cost of PKR68m against PKR71m in 1HFY1... |
Duraton Cement distributes its first cement27 February 2018, Published under Cement NewsAsian Fine Cements Ltd has has launched its own flagship brand, Duraton Cement, having invested in a 1.5Mta greenfield cement plant in Rajpura, Punjab, India. Duraton Cement dispatched its first consignment of cement to the local Gurdwara in Rajpura and Mansa Devi Temple in Chandigarh. Following this, it will dispatch its cement to more than 100 dealers across Punjab, Haryana, Chandigarh and Himachal, but the distribution will be expanded to cover nationwide. The cement plant features ... |
Birla Corp to increase availability of premium product27 February 2018, Published under Cement NewsBirla Corp is planning to roll-out its premium-brand product, Perfect, across all regions of India apart from the South. The cement is manufactured at Reliance Cement Company’s Maihar plant, which has a strategic logistical advantage, according to India Info Online. Perfect contributed 16.6 per cent to the company’s consolidated turnover in the 3QFY18, which translates to INR2.3bn (US$35.5m). Birla aims to achieve 90 per cent capacity utilisation at the 3Mta Maihar plant, where it has al... |
Raysut Cement reports negative results for 201727 February 2018, Published under Cement NewsOman-based Raysut Cement Company has reported negative sales revenue and net earnings results due to competition from UAE producers and ongoing socio-economic disturbances in Yemen, according to the Times of Oman. "There has been severe competition across markets, coupled with socio-political disturbances in Yemen. Unabated supply of cement from the UAE due to surplus capacity and price decline has caused a dent in prices and volume of sales in the northern markets of Oman," stated the com... |
QNCC to increase capacity in 2H1826 February 2018, Published under Cement NewsQatar National Cement Company (QNCC) is expected to increase its production capacity by 5500tpd during 2H18, due to the start-up of a new plant later in the year. The company also announced that its total production of OPC and SRC cement decreased to 3.5Mt in the 2017 full-year period, compared to 3.7Mt of the previous year. Similarly, cement sales fell 8.1 per cent YoY to 3.4Mt from 3.7Mt. Total sales revenue dropped 10 per cent from QAR1.14bn (US$313.19m) to QAR1.03bn in 2017. The co... |
AshakaCem to complete 16MW power plant in 201926 February 2018, Published under Cement NewsNigeria’s AshakaCem (LafaregHolcim group) is constructing a 16MW power station for completion in early 2019. The NGN11bn (US$30.55m) project began in 2017 and is expected to be completed in January 2019, AshakaCem's Managing Director, Rabiu Abdullah Umar, said at a news conference in Gombe. The power plant is also expected to boost the operational efficiency and tackle the high energy cost of the largest industry in Nigeria’s northeast. Umar said the power plant will not only release add... |
Dewan Cement reports 1% profit rise in 1HFY17-1826 February 2018, Published under Cement NewsDewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2017. It reported a profit after tax of PKR550m (US$4.96m), c ompared to PKR476m (US$4.29m) in the corresponding period last year – representing a growth of 15.5 per cent YoY. According to a notification of company to Pakistan Stock Exchange (PSX), the company's sales increased to PKR6.45bn from PKR6.19bn during this period. Distribution costs of PKR106m were incurred against PKR96m in 6... |
LafargeHolcim acquires Kendall Group26 February 2018, Published under Cement NewsLafargeHolcim has acquired UK-based aggregates and ready-mix concrete manufacturer Kendall Group to expand its operations in the south of England. Kendall will be managed by Aggregate Industries and complement the company’s existing operations in the UK, according to LafargeHolcim. Kendall generated a net revenue of CHF33m (US$35.2m) in 2017 and marks the first deal of the year for LafargeHolcim. |
CMS sees 27% rise in earnings23 February 2018, Published under Cement NewsCahya Mata Sarawak Bhd (CMS), Malaysia, saw its earnings rise 27.2 per cent to MYR215.2m (US$55m) in the financial year ended 31 December 2017 from MYR169.2m in 2016 although earnings in 4Q17 were lower. Earnings related to the company’s four divisions: cement, construction and road maintenance, cosntruction materials and trading, and property development. Total revenues in 2017 increased by 3.6 per cent YOY to MYR1.6bn from MYR1.55bn. CMS also recorded a higher share of profit of MYR... |