Cement News tagged under: corporate
Maple Leaf reports growth in 1QFY1826 October 2017, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) has reported that during 1QFY18 its profit after tax (PAT) stood at PKR1.05bn (US$9.9m), showing a growth of 47 per cent on QoQ basis. MLCF incurred selling and distribution expense of PKR266m and administrative expense of PKR150m during this quarter against PKR373m and PKR122m incurred respectively in 1QFY17. |
Fire crews sent to Capitol Cement's San Antonio plant26 October 2017, Published under Cement NewsCapitol Cement's San Antonio plant had 30 fire crews sent to it on the 11500 Bulverde Road, north of Wuzbach Parkway, yesterday morning after a fire broke out inside one of the company's asphalt towers. No workers were injured. The fire was isolated and other areas of the plant were unaffected, but the fire crews had to use large volumes of water because of the type of materials that were burning. |
Ambuja Cements sees 9.7% net profit rise in 3Q25 October 2017, Published under Cement NewsLafargeHolcim-owned Ambuja Cements' standalone unaudited income remained stable in 3Q17 at INR24.73bn (US$379.8m) when compared with the previous year (3Q16: INR24.72bn) but noted a 25.4 per cent drop when compared with 2Q17, when it reached INR33.16bn. Profit before tax rose 11.3 per cent YoY to INR3.36bn from INR30.02bn but saw a 38.6 per cent decrease QoQ (2Q17: INR5.47bn) while net profit reached INR2.72bn, up 9.7 per cent from INR2.48bn in 3Q16, but down 31.3 per cent from INR3.92bn ... |
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... |