Cement News tagged under: corporate
Bamburi posts decline in half-year profit29 August 2017, Published under Cement NewsBamburi Cement posted a 36 per cent decline in its half-year net profit to KES1.8bn (US$17.4m) compared to a KES2.8bn recorded in the first six months of 2016. Turnover stood at KES17.5bn which is KES1.6bn behind prior year while operating profit reduced from KES4.1bn to KES2.7bn. Management attributed the decline to a difficult business environment in Kenya characterised by a contracting market, low private sector investment resulting in a slump in construction activity, especially in ... |
CMS reports rise in 2Q net profit29 August 2017, Published under Cement NewsCahya Mata Sarawak Bhd's (CMS) net profit jumped to MYR64.73m (US$15.2m) in the second quarter ended June this year from MYR7.9m in the same period a year ago. The increase is mainly attributed to lower handling costs, cheaper imported clinker bricks and lower clinker production costs brought about by the stable production and lower coal prices in the cement, construction and road maintenance, construction materials and trading divisions as well as improved sales in the property developme... |
PPC Zimbabwe achieves record cement volumes25 August 2017, Published under Cement NewsPPC has recorded the highest production volumes in Zimbabwe for the first time in 18 years following the opening of its new US$82m grinding plant in Harare. The group's interim CEO, Johan Claassen, said Zimbabwe operations continue to exceed expectations, with the investment in the 1.8Mta Harare mill contributing to volume growth. "PPC Zimbabwe also saw double-digit volume growth compared with last year, and in June 2017 recorded the highest monthly volumes since June 1999," he said. ... |
Hyundai Cement seeks to build solar power plant25 August 2017, Published under Cement NewsSouth Korean cement producer Hyundai Cement Co is looking to build a photovoltaic (PV) power plant at its existing cement facility in Dangyang. The consortium of Hanil Cement and LK Investment Partners, which gained ownership of Hyundai Cement last month, is considering using some part of the company’s Danyang factory site in North Chungcheong Province to build a solar energy farm. It aims to improve profitability by replacing some aged facilities at the site with the green plant. |
Susumu Ando Ube Singapore's Nominee Director for Tokyo Cement Co (Lanka)25 August 2017, Published under Cement NewsTokyo Cement announced the appointment of Susumu Ando as the Nominee Director for Ube Singapore Pte Ltd to the Tokyo Cement Company (Lanka) PLC's Board of Directors effective from 28 July 2017. Susumu Ando is currently serving as the Managing Director of Ube Singapore Pte Ltd, which recently increase their stake in Tokyo Cement. He joined the Ube Group in 1997 with a Bachelor of Commerce degree from Ritsumeikan University in Japan. He has served in the company’s cement, construction mater... |
Bestway and Cherat show good financial results24 August 2017, Published under Cement NewsBestway Cement Ltd has announced earning a profit of PKR13.29bn (US$126m) for the financial year ended 30 June 2017, against PKR11.88bn in corresponding period last year. This showed profits jumped by 12 per cent for the Pakistan-based cement producer. The company announced a final cash dividend of PKR3/share, which is in addition to interim dividend already paid at PKR9/share. Gross turnover stood at PKR71.44bn, increased from PK58.54bn of last year. The company incurred selling an... |
Changes to PPC executive team24 August 2017, Published under Cement NewsPPC has appointed Njombo Lekula as managing director of its Southern African Cement division. Previously the managing director of Rest of Africa Cement, Mr Lekula has been with PPC for 27 years, holding a number of cement manufacturing and executive management roles. Meanwhile, Mokate Ramafoko has been appointed as the managing director of Rest of Africa Cement. He is a chemist by profession with over 23 years of experience in the cement manufacturing, quality assurance and cement process... |
Fauji Cement's second line to reopen in October23 August 2017, Published under Cement NewsThe second production line of Fauji Cement Company Ltd (FCCL) in Pakistan is expected to restart from October this year, easing pressure on company revenues weighed down by the cost of clinker procurement, a brokerage reported on Tuesday. Production from Fauji Cement’s major unit, located in Punjab, was suspended in May 2016 after a silo collapse, rendering the 7200tpd (2.2Mta) clinker production line non-operational.The collapse of silo, containing 25,000t of raw materials, necessitated ... |
Zambians to receive jobs at new Chongwe cement plant23 August 2017, Published under Cement NewsAbout 85 per cent of the works at Sinoma Mpande Limestone Ltd's new cement plant in Chongwe, Zambia, have been completed, according to the company's Managing Director, Zhang Yuanci. Mr Yuanci said the plant is expected to be commissioned in March 2018 and once fully operational, over 600 Zambians will be offered jobs. "We plan to send Zambians for further training in China, after which they will be engaged to come and work at the plant. Most of our workers will be local people," he... |
Thatta FY16-17 performance hit by higher costs23 August 2017, Published under Cement NewsPakistan producer Thatta Cement Co reported a 5.4 per cent decline in net profit to PKR614.43m (US$5.8m) for FY16-17. Net sales rose increased by 28 per cent YoY to PKR3.656bn versus PKR2.846bn a year earlier. However, the company incurred selling and distribution costs of PKR101.03m and administrative expenses of PKR148.31m, representing increases of 41 and 30 per cent, respectively. Thatta Cement is in the process of establishing a 5MW waste heat recovery plant at its 0.49Mta cemen... |