Cement News tagged under: corporate
Dalmia Baharat targets organic growth in east India02 October 2017, Published under Cement NewsDalmia Bharat is planning to strengthen its presence in the region to tap growth potential, reports the Expres Group. Dalmia Bharat, the second largest cement manufacturer in eastern India, is planning to strengthen its presence in the east of the country where housing and infrastructure development is driving cement demand. "The government is spending money to build road, ports and projects as Sagarmala, Delhi-Mumbai Industrial corridor, freight corridor, housing for all… we are quite... |
Summit Materials could be swept up in US consolidtion trend02 October 2017, Published under Cement NewsAs the cement sector continues to consolidate, the number of potential targets with values of more than US$1bn (EUR842m) will continue to fall and quite possibly, Summit Materials will see its position change from being an acquirer of companies - to being a target, reports the Sunday Independent. Follwing, CRH's recent move to acquire US company Ash Grove Cement for US$3.5bn and Martin Marietta's US$1.6bn (EUR1.3bn) payment for Bluegrass Materials, a leading aggregates company, investo... |
Gharibwal Cement's net profit falls 14.8%29 September 2017, Published under Cement NewsGharibwal Cement Ltd has reported that its net profit fell by 14.84 per cent to PKR2.283bn (US$21.6m) in FY17 on YoY basis. The company said sales increased by sales 6.7 per cent to PKR11.22bn in FY17 from PKR10.522m the previous year. However, a higher cost of sales saw gross profit fall from PKR4.172m to PKR3.854m and pretax profits from PKR3.695m to PKR3.045m. The company incurred a distribution cost of PKR27m and administrative cost of PKR320m versus PKR20m and PKR307m, resp... |
INSEE lay foundation stone for Galle grinding station29 September 2017, Published under Cement NewsThe foundation stone has een laid for INSEE Cement's new vertical mill that will be the main part of the company's US$14m grinding plant in the port of Galle, Sri Lanka. INSEE Cement CEO, Nandana Ekanayake, said: "The new plant will be the first vertical cement grinding plant in the southern province and also for the company. It is the company’s first big investment since the acquisition in Sri Lanka by Siam City Cement Public Company. This is another milestone in our ambitious mission to... |
Belarus government increases stake in three cement producers29 September 2017, Published under Cement NewsThe Council of Ministers in Belarus has issued a directive providing for an increase in the government’s stake in three cement producers. The government will raise its stakes in Belarussian Cement Plant in Kastsyukovichy and Krychawtsementnashyfer in Krychaw, which are both in the Mahilyow region, as well as Krasnaselskbudmateryyaly in the Vawkavysk district, Hrodna region, according to Belapan news service. The increase will equal the amount of financial support provided to the companies... |
PPC raises prices and volumes29 September 2017, Published under Cement NewsSouth Africa-based cement producer PPC said it improved effective selling prices in its South African cement business and is steadily increasing output at its operations in the rest of Africa. The company saw a rise in volumes of 15 and 35 per cent in Zimbabwe and Rwanda, respectively in the five months to August, according to an investor presentation at the RMB Morgan Stanley Big Five Investor Conference in Cape Town. Effective selling prices increased by two per cent in South Africa ... |
Paraguay: INC expects to close year with PYG25bn in cash29 September 2017, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) expects to close this year with around PYG25bn (US$4.4m) in cash and a positive balance, according to its President, Jorge Méndez. He added that various projects undertaken at the plant – such as conversion from a fuel oil-based to a 100 per cent petcoke firing programme at Vallemí and the planned modern palletiser at Villeta – will enable the cement producer to increase output and decrease production costs. |
Pioneer Cement net income rises 16%28 September 2017, Published under Cement NewsPioneer Cement Ltd posted a net income of PKR2.91bn (US$27.6m) in the fiscal year ended on 30 June, up 16 per cent compared with PKR2.51bn in the previous year, according to a company notice to the Pakistan Stock Exchange (PSX). Revenues of the company surged by 13 per cent YoY mainly driven by clinker sales made to Fauji Cement during the year. Gross margins of the company remained above industry average of 40 per cent, however, they dipped slightly by 100 basis points YoY to 42 per ce... |
Cemex sells remaining direct GCC interest28 September 2017, Published under Cement NewsCemex annnounced it has sold 31,483,332 shares of common stock (the "Shares") of Grupo Cementos de Chihuahua, SAB de CV (GCC), which represents approximately 9.47 per cent of the equity capital of GCC. Proceeds from the sale were around US$168m, which will be used mainly for debt reduction and general corporate purposes. Cemex continues to have an approximate 20 per cent indirect interest in GCC through CAMCEM, SA de CV, an entity that owns a majority interest in GCC and in which Cemex ha... |
Votorantim Cimentos to sell stake in Suwannee American28 September 2017, Published under Cement NewsBrazil-based Votorantim Cimentos is to sell its 50 per cent stake in Suwannee American Cement (SAC), located in northern Florida, USA. The sale is part of Votorantim’s strategy of prioritising assets and reducing its debt. SAC supplies cement to the construction markets of Florida and southern Georgia from its 1Mta Branford plant. Although the plant was in the path of Hurricane Irma, it has remained largely unaffected, according to information obtained by ICR. Thanks to precautions ta... |