Cement News tagged under: corporate
Shree Cement commissions New Bihar cement plant20 February 2018, Published under Cement NewsShree Cement has commissioned a 2Mta grinding plant called the 'New Bihar cement plant', which is located at Aurangabad in the state of Bihar, India. The company has recently commissioned its Bangur cement grinding unit. The new plant has capacity of 3.6Mta and is located at Village Rohi Udaipur Udasar, Sriganganagar district, Rajasthan. Currently, Shree Cement's manufacturing operations are located in six north and eastern India states. |
City Cement profit fall 57% in 201720 February 2018, Published under Cement NewsSaudi-Arabia-based City Cement reported a 56.9 per cent YoY drop in net profits for 2017 to SAR93.3m (US$24.9m). In 2016 net profits reached SAR216.3m, but a 48 per cent fall in net profits in 4Q17 put pressure on last year’s results. Net profits during the last quarter of 2017 decreased to SAR23.9m from SAR45.9m a year earlier. The cement producer attributed the decline in profits to a drop in sales as well as higher production costs. City Cement’s sales fell 11 per cent to SAR53... |
Breedon in talks to acquire Lagan Group19 February 2018, Published under Cement NewsUK-based construction materials company, Breedon Aggregates, is reportedly looking to acquire all or parts of Lagan Group, a leading building materials company based in Ireland. The Lagan Group currently includes Lagan Cement, which has a production capacity of 700,000tpa, two bitumen terminals in Dublin and Belfast, road marking, quarry and concrete businesses. It is also involved in the manufacture of bricks, blocks and timber frames for the housing sector. In the UK its assets include We... |
Cemex to increase its shareholding in Lehigh White Cement19 February 2018, Published under Cement NewsCemex Inc has agreed to acquire an additional 12.25 per cent stake in Lehigh White Cement Company, a manufacturer of white cement, from Lehigh Cement Company LLC for US$34m. Lehigh White's enterprise value of the transaction is about US$140m. It operates two plants in Waco, Texas, and York, Pennsylvania, with a combined white cement production capacity of approximately 255,000tpa. Following the transaction, Cemex will hold 36.75 per cent of Lehigh White. In addition, Aalborg Cement ... |
UltraTech and Dalmia Bharat highest bidders in Binani Cement deal19 February 2018, Published under Cement NewsUltraTech Cement and Dalmia Bharat-Bain Piramal Resurgence Fund consortium are leading the bids for Binani Cement, according to Indiainfoline. Both partieshave submitted bids of approximately INR60,000m (US$927.9m). For the final decision to be made by the creditors, both the bidders are asked to furnish additional details pertaining to their bids. In addition, UltraTech is required to provide information on a Competition Commission of India (CCI) penalty. In 2016, CCI imposed a penalty of ... |
Pulau Baai packaging plant will increase PT Semen Padang's cement sales19 February 2018, Published under Cement NewsA new packaging plant in the port of Pulau Baai, due to come on-stream later this year, has led PT Semen Padang to target cement sales of 442,100t in 2018. The new packing plant in the provincial city of Bengkulu "will guarantee good quality and availability of supply throughout the year of 2018," said Nur Anita Rahmawati, public relation head of PT Semen Padang. "In 2017, Semen Padang dominated the cement market in Bengkulu, and we believe the market share could still be increased in ... |
Dangote London IPO and Eurobond would need Board approval19 February 2018, Published under Cement NewsAccording to Bloomberg, Dangote Cement Plc is potentially reviving plans for an Initial Public Offering sale in London that could raise about US$1bn. The Nigerian company is said to have approached investment bankers to discuss a potential UK listing and issuing a debut Eurobond. ICR spoke to a Dangote spokesperson who said, "Such corporate actions as Bloomberg reports would require Board approval..." Currently, Dangote claims no such decision has been taken on either matter. |
Arkan posts AED30.2m net profit following Emirates Cement closure16 February 2018, Published under Cement NewsUAE cement producer Arkan Building Materials Co posted a net profit of AED30.2m in 2017 compared to a loss of AED82.3m in 2016. The company attributed the increase in profits to an AED158m asset write-off relating to the closure of the Emirates Cement Factory. “Net profit was also impacted by the increase in gas and electricity prices enforced last year by AED78m and the completion of the accounting treatment of the benefit from the government grant of AED18m received in July 2011,” th... |
Maple Leaf Cement profit falls in 6MFY17-1816 February 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) announced its half-year financial result for the period ended 31 December 2017 today. It reported earnings o f a profit after tax of PKR2.24bn (US$20.2m) compared to PKR2.62bn (US$23.6m) earned in corresponding period last year showing a fall of 14.50 per cent on YoY basis. According to financial result sent to Pakistan Stock Exchange (PSX), the company also announced an interim cash dividend of PKR1.50/share. Its net sales increased to PKR12.27bn d... |
Eurocement to modernise two Leningrad works16 February 2018, Published under Cement NewsEurocement Group will invest RUB2.2bn (US$37.7m) in the modernisation of two cement plants in the Leningrad region, Russia. Pikalyovskiy Cement will see investment of RUB1bn as it receives new milling equipment and one of the two grinding lines will be converted to a closed-circuit set-up. This will enable the works to increase the output of premium cement, lower production costs and reduce air emissions. At the Peterburg cement works Eurocement will built a gas-fired thermal power p... |