Cement News tagged under: corporate
PT Semen Indonesia appoint new President Director20 September 2017, Published under Cement NewsIn its Extraordinary General Meeting held Friday 15 September 2017, the shareholders of PT Semen Indonesia have approved the appointment of Hendi Prio Santoso as new President Director. The 50-year-old Mr Santoso was President Director of state-owned gas company PT Perusahaan Gas Negara (PGN) from 2008 until 2017. Previously, he held the positions of Finance Director at PGN (2007-08) and Director/Investment Banking at PT Morgan Securities Indonesia (2004-07). He holds BA degrees in B... |
Four-bidder shortlist for Halla Cement stake19 September 2017, Published under Cement NewsFour bidders have been shortlisted for the full stake in South Korea’s Halla Cement, the country’s fourth-largest cement producer. Hong Kong-based Baring Private Equity Asia, the largest shareholder of Halla Cement, and its sales advisor Citigroup Global Market Securities Korea have shortlisted four potential buyers: three strategic investors – Asia Cement Co, Sungshin Cement Co and Aju Corporation Co – and private equity fund LK Investment Partners. Last week a total of six investors ini... |
Cebu's Board of Investment approve South Western Cement Corp's 2Mta new plant19 September 2017, Published under Cement NewsA new PHP12.5bn (US$245m) cement plant for South Western Cement Corp (SWCC) in Cebu is one of the largest projects approved by the Board of Investments (BOI) in August. The planned 2Mta cement plant wil be completed in two years' time and will serve the Visayas and Mindanao markets. SWCC is a wholly-owned subsidiary of listed firm Eagle Cement Corp. The cement producer owns mineral rights in Malabuyoc, Cebu, reports the Sunstar Cebu. Trade Secretary and BOI Chairman, Ramon Lopez, i... |
Kohat Cement Co reports FY17 profit fall19 September 2017, Published under Cement NewsKohat Cement Co Ltd (KOHC) of Pakistan has reported a FY17 profit after tax of PKR3.54bn (US$33.5m), a drop of over 19 per cent YoY. Total sales of the cement producer fell to PKR13.54bn during this period from PKR14.019bn of FY16. The company incurred selling and distribution expenses of PKR129m, and administrative and general costs of PKR163bn compared to PKR154m and PKR133m, respectively, when compared with FY16. Financing costs stood at PKR84m. The company also announced a fina... |
Hetauda cement completes kiln and cooler maintenance work18 September 2017, Published under Cement NewsThe state-owned Hetauda Cement Factory in Nepal resumed operations from Friday after being closed for 36 days for maintenance. A team of 35 technicians from India disassembled the cement plant and repaired the grate cooler and kiln. "We have already given continuity to cement production after completing repair and maintenance works," said Prem Shankar Singh, general manager of Hetauda Cement. "This maintenance will increase the production capacity of the factory. "These components wer... |
Federated Investors sell shares in Summit Materials Inc18 September 2017, Published under Cement NewsFederated Investors Inc PA lowered its position in Summit Materials, Inc by 65.5 per cent in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,883 shares of the construction company's stock after selling 274,734 shares during the quarter. Federated Investors Inc PA owned approximately 0.14 per cent of Summit Materials worth US$4,183,000 at the end of the most recent reporting period, reports The... |
PT Indocement Tunggal Prakarsa launches Tiga Roda (TR) Slag cement15 September 2017, Published under Cement NewsPT Indocement Tunggal Prakarsa, Tiga Roda cement (HeidelbergCement group), has launched its new Tiga Roda (TR) Superslag cement product. President Director of Indocement, Christian Kartawijaya, said the rapid development in Indonesia demands a new breakthrough in the world of construction. Slag cement is the answer to market demands for low-heat hydration cement as a mass concrete raw material, high-sulphate resistance rate and durable product. "Slag cement is highly recommended for doc... |
AfriSam wins two SARMA awards15 September 2017, Published under Cement NewsSouth African cement producer AfriSam dominated at the recent Southern African ReadyMix Association (SARMA) awards by winning two of the four accolades bestowed on the industry’s top performers for 2017. SARMA’s annual awards, held in Gauteng during the Concrete Conference in August, saw AfriSam receive both the 'Best Plant' award for its Wynberg ready-mix facility and the 'Best Fleet' award for its Gauteng ready-mix fleet. "The team is justifiably excited about winning this prestigious... |
Cimpor's 1H volumes down 2.7 per cent14 September 2017, Published under Cement NewsCimpor reported that first-half 2017 EBITDA growth in Argentina, Paraguay and South Africa, and to a lesser extent Portugal, mitigated adverse operating environments in the company’s other group regions. Sales of EUR921m (US$1.096bn) rose 2.6 per cent YoY. An average price adjustment of 10 per cent offset lower volumes. EBITDA of EUR166m was 2.6 per cent lower compared to 1H16 on the back of non-recurring costs. Excluding these items, EBITDA remained stable. Cement and clinker volumes... |
Monarch Cement sees 7% net profit rise in 2Q1714 September 2017, Published under Cement NewsThe Monarch Cement Co reported in a SEC filing a one per cent YoY increase in consolidated sales from US$45,105,834 to US$45,593,593 in 2Q17. Net profit rose by seven per cent to US$6,026,881 in 2Q17 from US$5,635,139. For the six months ended 30 June 2017, the company’s consolidated net sales reached US$76.835m, up 2.9 per cent from US$74.673m in 1H16. Monarch Cement primarily supplies cement to the markets of Kansas, Iowa, southeast Nebraska, western Missouri, northwest Arkansas and... |