Cement News tagged under: corporate
GCC reports 16% sales boost in 3Q results25 October 2017, Published under Cement NewsGrupo Cementos de Chihuahua announced its results for the third quarter of 2017, which reflect the successful integration of the operations acquired in Texas and New Mexico late last year as well as favourable pricing in the US and Mexico, and progress in implementing the company’s growth strategy. Total sales increased 15.9 per cent YoY to MXN4.968bn (US$258.8m) in 3Q17 from MXN4.288bn. The company’s 3Q EBITDA saw a similar rise to MXN1.421bn, up 14.2 per cent from MXN1.245bn. Margins sli... |
Lafarge Surma calls for a revaluation of Holcim shares to complete its merger25 October 2017, Published under Cement NewsLafarge Surma Cement (now LafargeHolcim Bangladesh Ltd) has appealed to Bangladesh Bank to review its valuation of the Holcim share price, which the French cement maker says has been significantly undervalued by the central bank. In December 2016 Lafarge Surma signed an agreement with the Amsterdam-based Holderfin to purchase its holdings of Holcim Cement Bangladesh for BDT9360m (US$117m). Each of Holcim's 88,244 shares was valued at US$1325.88 (BDT106,000). But since then, the centr... |
Government may step in to outsource the Samba plant25 October 2017, Published under Cement NewsIndia's government is considering to outsource the operation of the Samba cement plant, part of JK Cement Group. "The delay in its launching [the Samba plant] has been attributed to inordinate delay on the release of equity by the government and also delay in the installation of receiving station by PDP," sources maintained. An official of the JK Cements Ltd told the Kashmir Observer that the final decision is yet to be taken, but the government may step in to outsource the Samba pla... |
Southern Province Cement sees two-third drop in 3Q profit25 October 2017, Published under Cement NewsSaudi cement producer Southern Province Cement saw its third-quarter sales decrease 43.2 per cent to SAR216m from SAR380m in the 3Q16. The company’s net profit declined by 67.2 per cent to SAR57m from SAR174m in the same period a year ago. |
Jinyuan Cement approves environmental technology company acquisition25 October 2017, Published under Cement NewsJinyuan Cement Co Ltd company has approved of its subsidiaries acquisition of Shanghai Huayu Environmental Technology Co Ltd. Directors of Jinyuan Cement approved Golden Circle Cement Co Ltd's acquisition of the technology company. Through Golden Circle Cement Co Ltd, Jinyuan Cement Co now has a 51 per cent stake in Shanghai Huayu Environmental Technology. The acquisition was made to speed up the pace of environmental development strategy, and actively promote the cement kiln co-processi... |
Pioneer reports profit loss of 19% QoQ24 October 2017, Published under Cement NewsPioneer Cement Co Ltd (PIOC) announced its 1QFY18 financial result, where it posted profit after tax of PKR417m (US$3.95m), down by 19 per cent on QoQ basis and 41 per cent on YoY basis. According to a notification of company to Pakistan Stock Exchange, The company's revenue witnessed a fall of three per cent YoY to PKR2.4bn, according to a Pioneer notification to the Pakistan Stock Exchange. The decrease has been attributed by a research house to a 53 per cent decline in clinker sales... |
Fauji cement reopens Line 224 October 2017, Published under Cement NewsFauji Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that: "Rehabilitation works on Line 2 of 7200tpd have been completed. Line 2 was made operational on 15 October 2017 and production of clinker commenced on 22 October 2017 at an enhanced capacity of 7600tpd." Local experts believe that this step will help normalise gross margins of FCCL effective 2QFY18 and beyond. Line 2 was expected to return to operations at the end of this month, according to an ear... |
Tokyo Cement makes settlement over brand name24 October 2017, Published under Cement NewsTokyo Cement Company (Lanka) PLC agreed to a settlement over a suit filed against Ruhunu Lanka Cement (Pvt) Ltd in the Commercial High Court of the Western province, Sri Lanka. Tokyo Cement alleged infringement with regard to the similar trade names of the brands that the two companies distributed under. The plaintiff’s company, Tokyo Cement, distributes under various brands including Tokyo Super, Mitsui and Nippon. The company stated that it was in joint venture with Japan’s Mitsui Mining... |
Ash Grove Cement gives stockholder approval for CRH merger23 October 2017, Published under Cement NewsAsh Grove Cement Company has announced that its previous agreement for the merger with CRH plc, under which CRH plc will acquire Ash Grov Cement, has been approved by stockholders holding more than a majority of the outstanding voting stock, acting by written consent. Following execution of the CRH merger agreement, stockholders representing approximately 63.4 per cent of the outstanding voting stock delivered written consents approving the transaction, of which, consents representing appr... |
Boral to set up new clinker grinding facility23 October 2017, Published under Cement NewsAn application for a new clinker grinding facility at North Shore, Geelong, in Australia's state of Victoria, has been approved by the Environmental Protection Agency (EPA). Boral Cement made an application for the 24h facility in July, which will have an output of 1.3Mta of cement. Boral’s application said clinker would be unloaded from ships and delivered to the site via covered belt conveyors from Lascelles Wharf. Following processing, finished product would be transported to Victoria v... |