Cement News tagged under: corporate
Masud Khan appointed CEO of Crown Cement02 November 2017, Published under Cement NewsAccording to The Daily Star, Masud Khan has been appointed CEO of Crown Cement Group. Mr. Khan has previously served as CFO of LafargeHolcim Bangladesh Ltd. Alongside this, Khan has also been an independent director of Marico Bangladesh Ltd, GlaxoSmithKline Bangladesh and Berger Paints Bangladesh Ltd. “I believe that Crown will rise to greater heights in the years ahead and I am excited to be a part of this growth,” said Mr Khan. |
Kuwait Cement earnings surpass US$10m in 3Q1702 November 2017, Published under Cement NewsKuwait Portland Cement achieved a jump of 471.61 per cent in profits during the 3Q17 compared to the same period last year. The company's earnings soared to KWD3.13m (US$10.37m) in 3Q17 compared to nearly KWD547,320 (US$1.81m) in 3Q16, according to a bourse statement issued on Wednesday. During the first nine months, Portland Cement posted KWD8.19m profits which were 30 per cent higher than KWD6.29m in the same period in 2016. The increase in profits is attributed to higher stock pric... |
MOU signed for Shree Cement to investigate potential new plant in Jharkhand02 November 2017, Published under Cement NewsThe Jharkhand government has signed MoUs with Mineral Exploration Corporation Ltd (MECL) for undertaking mineral exploration to identify prospective mineral blocks with Shree Cement for setting up a cement plant in Jharkhand, a state government a press release said. The MOU was signed at a three-day Mining and Minerals summit in Jharkhand, India. |
Siam Cement Pcl sees 16% fall in profit01 November 2017, Published under Cement NewsSiam Cement Pcl reported a 16 per cent fall in 3Q17 net profit on Wednesday due to weak demand and lower margins in its chemical and packaging segments. According to a poll by Thomson Reuters, the net profit for the third quarter was THB11.84bn (US$357.06m) thereby missing expectations of THB14bn. Revenue from sales rose seven per cent to THB112.43bn. Domestic cement volume sales were also down two per cent YoY. Revenue from Vietnam, Indonesia and the Philippines helped by increasing profi... |
Pacasmayo reports 6.7% rise in 3Q income01 November 2017, Published under Cement NewsCementos Pacasmayo increased its deliveries of cement, concrete and blocks by 4.8 per cent YoY in 3Q17 due to a higher level of self-construction activity and the recovery in public spending towards the end of the quarter. The Peru-based cement producer reported a 6.7 per cent YoY advance in income to PEN334.7m (US$103m) as a result of increased sales volumes and higher prices. Consolidated EBITDA increased 38.9 per cent QoQ to PEN107.2m and the EBITDA margin rose from 27.6 per cent in 2Q1... |
Carthage Cement sees 11% fall in 3Q turnover01 November 2017, Published under Cement NewsTunisia’s Carthage Cement saw its turnover fall by 11 per cent YoY to TND132.4m (US$53.1m) in 3Q17 from TND149m in 3Q16. The company’s domestic sales remained stable at TND95.437m, leading to a market share of 19 per cent. In terms of export sales, revenues fell by 77 per cent in the 12 months to 30 September with some sales to Libya. However, the company has not been able to recover in terms of exports to Algeria. In 9M17 the company has invested TND9m with total debts at TND516.... |
Caribbean Cement limits its risk of rising fuel consumption01 November 2017, Published under Cement NewsCaribbean Cement Company Ltd is now hedging its fuel bill to stabilise its costs. The company started to invest in hedges in the second quarter, amid rising sales and profit at the Rockfort-based operation and has spent US$70.76m on the hedges so far this year. Caribbean Cement entered into forward contracts through its ultimate parent company, Cemex of Mexico, to hedge the price of estimated fuel consumption. The cement producer's fuel and electricity bill remains its main production c... |
Loma Negra sets its IPO at US$19/ADS01 November 2017, Published under Cement NewsLoma Negra Cia Industrial Argentina SA said on Tuesday its initial public offering was priced at US$19 per American Depository share (ADS), raising about US$954m (US$40.4m). The US$50.2m ADS offering was priced at the top of the proposed range of US$15 to US$19, with each ADS representing five common domestic shares. Most of the proceeds will go to InterCement Brasil SA, Brazil’s second-largest cement producer, which owns 99 per cent of Loma Negra. The rest will go to Loma Negra, the c... |
CoolCure set to take the heat out of hydration01 November 2017, Published under Cement NewsNew Technology Solutions LLC, a subsidiary of Silicone Solutions (Cuyahoga Falls, OH, USA), has developed a patent-pending (PCT US15/11849) CoolCure technology to significantly reduce or eliminate the heat of hydration. CoolCure works by minimising byproducts (calcium hydration) and creating more efficient reaction in the cement curing process to generate more strength, "from 40-100 per cent improved strength," claims New Technology Solutions. The Coolcure concrete admixture creates a low... |
Ashaka Cement approves Lafarge Africa's acquisition deal31 October 2017, Published under Cement NewsShareholders of Ashaka Cement Plc have approved the complete acquisition of the company by Lafarge Africa, in a deal with a cash consideration of NGN604.092m (US$16.8m) and total value of NGN5.97bn. The shareholders of Ashaka Cement agreed to allow Lafarge increase its stake in the company from 86.51 per cent to 99.99 per cent. However, the deal is subject to approval by the regulatory authorities, said Ashaka Cement. Meanwhile, Ashaka Cement Plc's energy strategy has helped it gr... |