Cement News tagged under: corporate
Vassiliko posts 5% 1H net profit rise11 September 2017, Published under Cement NewsCyprus-based Vassiliko Cement Works plc generated a net profit of EUR12.7m (US$15.3m) in the first half of 2017, representing a five per cent rise YoY from EUR12.1m in 1H16. Total revenue rose from EUR49m in 1H16 to EUR52.8m in 1H17, the company said in a statement on the Cyprus Stock Exchange. Cost of sales rose to EUR35.1m, from EUR30.4m, and distribution costs fell to EUR2.4m, from EUR2.7m. As a result, operating profit before the cost of finance dropped to EUR13.3m, from EUR14m. ... |
CIMB Equities Research encouraged by Lafarge Malaysia's 2Q17 performance11 September 2017, Published under Cement NewsCIMB Equities Research is maintaining a 'Hold' verdict on Lafarge Malaysia. The research entity said on Monday it had raised its target price to MYR6.34 (US$1.50) from MYR5.50 (US$1.30). CIMB Research said it came away from Lafarge’s post-2Q17 results briefing last week with positive expectations of a gradual recovery in domestic cement demand, but it remains cautious on the earnings outlook for 2H17. Higher operating cost, sustained competitive pressure and restructuring costs could im... |
Pacific Cement output expected to rise by over 50%11 September 2017, Published under Cement NewsCement production at Pacific Cement Ltd, Fiji, is forecast to increase by more than half following the company’s upgrades, according to the company’s CEO, Sowani Tuidrola. “The mill production will greatly increase as it will go back to 100 per cent of which at this point we are producing at around 18tph and we will go back to about 25tph,” said Mr Tuidrola. The cement plant is over 70 years old and requires significant repair. During this work the works will be closed for three wee... |
Eagle Cement secures alliance with construction giant11 September 2017, Published under Cement NewsIn anticipation of a massive rise in domestic infrastructure-building, Philippines-based Eagle Cement Corp has entered into a strategic alliance of cement supply with Yuchengco family-led construction firm EEI Corp. The new deal is set to strengthen the existing partnership between the two companies by expanding the list of EEI projects that Eagle will supply cement to, as the Philippines enters what economic managers envision to be a "golden age of infrastructure." "This contract is an... |
August brings 12% sales boost for INC08 September 2017, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) saw its sales increase 12 per cent YoY in August as it sold 1,286,339 bags of cement in the country. In August 2016 the cement producer sold 1,148,529 bags. In the year to date, 8,745,627 bags were sold. In 2016 INC sales reached 13,202,803 and the company expects to surpass this figure this year. While INC President, Jorge Méndez, is confident the company will meet such forecasts, he commented that in April and May bad weather affected cem... |
Baturaja II plant will start commercial operations this month08 September 2017, Published under Cement NewsThe Semen Baturaja II plant of Baturaja Cement Corp will start commercial operations this September after undergoing two months of trials. According to Baturaja Cement's General Director, Rahmad Pribadi, the schedule for operations was moved ahead by a month, from 1 October. The Indonesian plant will increase the overall production capacity at the site by 1.85Mta. The Baturaja II works will also raise its production capacity by 92.5 per cent, or 3.85Mt, in 2018 from 2Mt this year. The new... |
Loma Negra to double-list08 September 2017, Published under Cement NewsArgentina’s Loma Negra has followed up its initial public offering (IPO) in New York with an offering on the domestic stock exchange, according to Brazil’s Valor newspaper. Analysts forecast the domestic float, expected as early as this month, could bring more than US$100m to the company’s coffers. The cement producer will use the funds to expand its Amali works, a project which requires an investment of US$350m, as well as reducing debt. |
Hsing Ta revenues up 34% YoY in Aug 201708 September 2017, Published under Cement NewsTaiwanese cement producer Hsing Ta sees revenues up 33.6 per cent to TWD487.484m (US$16.24m) in August 2017 from TWD364.687m in August 2016m, according to the Taiwan Stock Exchange. In the first eight months of 2017, the company’s revenues rose 20.2 per cent YoY from TWD2.68bn to TWD3.222bn. |
Vietnam's Long Son Line 2 enters operation08 September 2017, Published under Cement NewsLong Son Co Ltd has successfully brought its second production line of its Long Son cement plant in Thanh Hoa, into production, raising the plant’s capacity to 14,000tpd (5Mta). Located in Dong Son, in the town of Bim Son, the works counts as one of the country’s largest cement works, according to Viet Nam News. |
New Country CEO for Lafarge South Africa07 September 2017, Published under Cement NewsRossen Papazov has been appointed country chief executive officer (CCEO) of Lafarge South Africa Holdings, effective 1 October 2017. For the last four years, Papazov has been CCEO for Holcim (later LafargeHolcim) in Azerbaijan. Papazov joined the international Holcim group in 2000 as the business development manager for Bulgaria. He went on to undertake a number of other management positions, including general manager of Aggregates and Readymix in Bulgaria, marketing director for Aggregat... |