Cement News tagged under: corporate
Philippines: Eagle Cement receives tax incentive26 September 2017, Published under Cement NewsEagle Cement Corp reported that two of its cement projects with a total cost of nearly PHP19bn (US$373m) have been recently approved by the Board of Investments (BOI) under the prevailing Investment Priorities Plan (IPP), which provides such business activities with fiscal and nonfiscal incentives. The projects relate to the PHP6.5bn expansion of the company’s Bulacan plant and the PHP12.5bn production facility of its wholly-owned subsidiary South Western Cement. In its disclosure to ... |
Ciments de Bizerte doubles loss in 1H1725 September 2017, Published under Cement NewsTunisia-based Ciments de Bizerte saw its revenues fall to TND31,673m (US$12,923m) in 1H17 from TND34,564m. Its gross margin fell by TND2235m YoY and its operating income fell to TND1-545m, according to African Manager. At the end of June the company reported a loss of TND-16,613m from TND-8806m in 1H16. |
Cape Lime business to boost Afrimat's earnings25 September 2017, Published under Cement NewsAggregates and building materials supply company Afrimat, based in Durbanville, Western Cape, South Africa, expects to see higher profit contributions from its Cape Lime business going forward. Afrimat CEO, Andries Van Heerden, said: "We are hedged against economic volatility through wide diversification. The operational contribution is interesting to breakdown," Mr Van Heerden said. "In financial 2016 the clinker segment accounted for 38 per cent of Afrimat’s business, the Glen Dougl... |
Lafarge's Ravena cement plant upgrade is completed22 September 2017, Published under Cement NewsThe ribbon has been cut on the completion of a three-year, multi-million dollar modernisation project to imporve the Lafarge (LafargeHolcim group) Ravena Cement plant in New York, USA. The cement from the Ravena facility supplies more than 1Mta of locally-produced product for high-profile projects in the Northeast, including One World Trade Center, the World Trade Center Memorial and Giants Stadium in East Rutherford, New Jersey. Throughout the upgrade project, the facility maintained... |
Ciments du Maroc posts 20% rise in net profit22 September 2017, Published under Cement NewsCiments du Maroc reported consolidated sales of MAD2.029bn in 1H17, up 1.1 per cent YoY. Consolidated EBITDA remained stable at MAD929m. Net profit advanced by 19.8 per cent from MAD503m in 1H16 to MAD603m one year later, mainly due to a reduction in taxes. The company said sales reflected the annual slide in sales volumes during Ramadan which saw deliveries fall 6.9 per cent when compared with 1H16. Nationally, cement volumes decreased 9.2 per cent. However, a significant rise in exp... |
Aalborg Portland opens new Rochefort terminal22 September 2017, Published under Cement NewsAalborg Portland has celebrated the opening of its new Rochefort terminal to improve its local presence for white cement customers in southwest France. "We are very pleased that with the new terminal in Rochefort we can expand the market area for white cement from production in Aalborg. This gives an increased level of activity on Danish grounds, that our production in Aalborg is competitive in terms of product, service and quality," said Michael Lundgaard Thomsen, directior of Aalborg ... |
CRH agrees US$3.5bn acquisition of Ash Grove Cement21 September 2017, Published under Cement NewsCRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha... |
OCL India a step nearer to new plant in Rajgangpur21 September 2017, Published under Cement NewsAt a public hearing, OCL India Ltd has received local support in Rajgangpur, Sundargarh district, for a new 2.25Mta cement cement plant, plus 3Mta of additional clinker capacity, besides the existing integrated cement plant that the company operates in the area. The flagship associate company of Dalmia Cement Bharat Ltd, OCL India is now a step closer to achieve the final environmental clearance to execute its capacity enhancement programme. With this addition, the company's total capacity... |
Fauji Cement sees full-year profit halve to PRK2.61bn21 September 2017, Published under Cement NewsFauji Cement Co Ltd reported a 51 per cent drop in net profit after tax to PKR2.61bn (US$24.5m) in FY17 from PKR5.36bn in FY16. The Pakistani cement producer saw sales edge up to PKR 20.423bn from PKR 20.044bn in FY16. However, costs of sale also increased to PKR15.98bn from PKR10.87bn in previous fiscal year as a production halt in Line II led to the purchase of expensive clinker. The line is expected to be back on-stream in October. The company incurred distribution cost of PKR166m and... |
PPC Zimbabwe's MD vows recent investments will come good21 September 2017, Published under Cement NewsPPC Zimbabwe's Managing Director, Kelibone Masiyane, has spoken out on the long-term commitment to the local cement market and on its recent Harare and Colleen Bawn investments. PPC Zimbabwe has invested over US$120m in different projects in Zimbabwe since 2009 and is looking forward to do more, Mr Masiyane told NewsDay. "We have invested over US$120m [since 2009]. Recently, we just commissioned the Harare plant at a cost of US$82m. In Colleen Bawn we installed modern great cooler at a ... |