Cement News tagged under: corporate
Carlos Slim enters Costa Rican cement market14 September 2017, Published under Cement NewsCementos Fortaleza, owned by Carlos Slim, will commence operations in a few weeks in alliance with Plycem, which is also part of the Elementia group owned by Carlos Slim and Mexican entrepreneur Antonio del Valle Ruiz. The joint venture is scheduled to inaugurate a cement plant in Barranca, Puntarenas, at the end of September, according to the Federal College of Engineers and Architects (CFIA). The new player will compete with the already-established cement producers, Cemex and Lafarg... |
Maple Leaf FY17 net profit dips14 September 2017, Published under Cement NewsPakistan-based Maple Leaf Cement Factory Ltd (MLCF) reported a net profit of PKR4.77bn in FY17, a decline of two per cent on a YoY basis. Revenue was up by two per cent YoY to PKR24.0bn for FY17. Finance costs of the company declined by 27 per cent YoY to PKR318m during FY17. Along with the results the company also announced a final cash dividend of PKR1.75/share taking cumulative DPS to PKR3.75/share (compared to a DPS of PKR4.0 in FY16). |
Dangote earns US$86m in revenues from Ethiopia14 September 2017, Published under Cement NewsDangote Cement earned revenues of more than US$85.8m from its plant in Ethiopia in the financial year that ended 8 July. Export volumes of more than 2Mt contributed significantly to sales revenues, including some US$1m from export sales to Kenya and Djibouti, according to Tariku Alemayehu, Dangote Cement’s deputy director of sales and marketing. Dangote Cement’s plant is located near the town of Muger, Oromia, some 85km west of Addis Ababa. Limestone reserves total around 223Mt. The 2.... |
PIC reportedly backs joint offer for PPC13 September 2017, Published under Cement NewsPPC'S largest shareholder, Public Investment Corporation (PIC), is supporting a joint offer for South Africa's biggest cement-maker from domestic rival AfriSam Group and Canadian insurer Fairfax Financial Holdings, as the merger would create a national champion, according to people familiar with the matter, reported in the Cape Argus. The enlarged cement producer will be able to benefit from significant cost savings as well as expand more effectively on the continent, according to the sou... |
Attock Cement reports flat 4Q earnings, full-year rise13 September 2017, Published under Cement NewsPakistan cement producer Attock Cement posted flat net earnings in 4QFY17 of PKR796m (US$7.5m) against the same period of last year, the company said in a note to the Pakistan Stock Exchange. The result took full-year earnings in fiscal 2016-17 to PKR3.303bn, up five per cent YoY versus PKR2.89bn in the previous fiscal. Revenue in FY17 rose by six per cent YoY to PKR14.7bn thanks to a rise in cement dispatches to 2.08Mt. However, margins remained stagnant at 40 per cent as coal pri... |
New managing director for Cementa13 September 2017, Published under Cement NewsMagnus Ohlsson has taken up his new position as Managing Director of Swedish building material company Cementa. Mr Ohlsson has worked for Cementa and its parent company HeidelbergCement for many years. Since 2014 he has held the position of Marketing Manager and Vice President of Cementa. "I look forward to pushing Cementa further in the same positive spirit," said Mr Ohlsson in a press statement. "Among other things, we will continue our work on our vision of zero carbon emissions during... |
Sika establishes El Salvador subsidiary13 September 2017, Published under Cement NewsSika is continuing to expand its presence in Central America and is setting up its 99th national subsidiary in El Salvador. The company will thus be represented by its own sales and distribution organisation in the small Central American country with over 6m inhabitants. José Luis Vázquez, Regional Manager Latin America: “Sika already has a strong market position in El Salvador, as we have been supplying the construction sector out of Guatemala for many years. With this new national subsid... |
CNBM & Sinoma merger could complete by year-end12 September 2017, Published under Cement NewsChina National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August last year after the State Council, or China’s Cabinet, approved the deal. The exchange ratio has ... |
Kuwait Portland Cement chairman buys 1.46m shares12 September 2017, Published under Cement NewsThe chairman of Kuwait Portland Cement, Khaled Al Sager, has purchased 1.46m of the company’s shares on Wednesday, 6 September. The total value of the purchased stake stood at KWD1.42m (US$4.71m) or 970 fils per share. Portland Cement’s capital stands at KWD10.02m, which is distributed on 100.2m shares. Kuwait Portland Cement Company is the third and final player on the Kuwaiti cement market with a 1Mta integrated plant in Shuwaikh. |
Dangote sets eyes on PPC Group11 September 2017, Published under Cement NewsAliko Dangote is considering counter offers for the PPC Group and as such could spark a bidding contest for South Africa’s largest cement producer, reported The Star who quoted people close to the subject. Dangote Cement sees the bid as a way to accelerate its pan-African expansion, but the company is only one of several companies keeping a close eye on the bidding. PPC has already received one rival offer to the AfriSam Group bid from Canada-based Fairfax Financial Holdings and both bids... |