Cement News tagged under: corporate
Bío Bío to stop clinker production at Talcahuano10 July 2017, Published under Cement NewsCementos Bío Bío announced it will cease to produce clinker at its Talcahuano plant in Chile and instead import clinker from Asia. The decision was taken following several attempts to improve profitability at the works and deliver a competitive product. The closure of the plant’s clinker production department is expected to lead to some 40 redundancies, according to Santiago-based news service Cambio 21. |
South Valley Cement Co 1Q profit drops10 July 2017, Published under Cement NewsEgypt-based South Valley Cement Co on Sunday posted a 53 per cent YoY drop in profits for the first quarter of 2017, according to a bourse statement. The company achieved profits of EGP20.1m (US$1.12m) in the three months ended March, compared to EGP42.85m in the corresponding period of 2016. Cement sales increased to EGP261.55m in the quarter under review from EGP254.80m a year earlier, while the cost of sales rose to EGP226m compared to EGP204.7m in the same period of 2016. The com... |
Penden Cement gear box failure sees output falter07 July 2017, Published under Cement NewsCement production at Penden Cement Authority Ltd (PCAL) in Gomtu, Samtse, Bhutan, was affected last month as a gearbox in one of the two coal mills broke down. The gearbox failed on 21 April. While in-house repairs were carried out, enabling the plant to resume operations after four days, further issues occurred on 16 May and to date PCAL has been unable to repair the gearbox. The plant’s management is currently looking for a second-hand gear box as a new gearbox takes a minimum of six mo... |
Shengli and Kaifa resign from Anhui Conch07 July 2017, Published under Cement NewsQi Shengli, supervisor and chairman of the supervisory committee of Anhui Conch, has tendered his resignation from the company, according to a statement released on 30 June. His resignation will become effective upon the appointment of a new supervisor, the Chinese cement producer noted. In addition, Yang Kaifa has resigned as company secretary of Anhui Conch, effective 28 June 2017. Chiu Pak Yue Leo remains a company secretary. A replacement for Mr Yang is to be recruited. In the interim... |
Moody's assigns first-time Ba3 and Aaa.ng ratings to Dangote Cement06 July 2017, Published under Cement NewsMoody’s has assigned a first-time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR) to Dangote Cement Plc (DCP). The outlook on the ratings is stable. "Dangote Cement Plc’s Ba3 local currency corporate family rating, one-notch above the Government of Nigeria’s own rating, reflects the company’s strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified par... |
Ashaka Cement confirms delisting from NSE06 July 2017, Published under Cement NewsAshaka Cement Plc has formally notified its shareholders and the general public of its delisting from the Nigerian Stock Exchange (NSE). In a statement issued on Tuesday signed by company secretary, Zainab Silas-Umaru, the firm said the delisting takes effect immediately. According to the statement “Application for the voluntary delisting of Ashaka Cement was approved on May 25, 2017 by the Quotation Committee of the National Council of the NSE. “The shareholders of Ashaka Cement Pl... |
Sika names new regional manager for EMEA06 July 2017, Published under Cement NewsIvo Schädler will assume responsibility for the Europe, Middle East and Africa (EMEA) region and will join Sika's Group Management. He succeeds Paul Schuler, who was appointed Chief Executive Officer in May. Both commenced their new roles on 1 July 2017. Mr Schädler (51) began his career at Sika in 1997. He held various management positions at the Swiss national subsidiary before becoming General Manager for the UK and Ireland in 2012. In this role, he not only drove forward the subsidiar... |
Fiji's Pacific Cement plant back online06 July 2017, Published under Cement NewsFiji-based Pacific Cement Ltd's cement plant is back online, according to Sowani Tuidrola, the company’s CEO. The facility was shut down in late April due to a major breakdown, resulting in cement shortage in the country. "Due to pending replacement of a major component, the mill is operating at a lower capacity at 60 per cent until end of July 2017," Mr Tuidrola said in a statement yesterday. "We expect to receive the new Trunnion Gear Assembly during (the) last week of July and pre-inst... |
BOAD grants CIMAF Burkina Faso finance05 July 2017, Published under Cement NewsThe West African Development Bank (BOAD) has granted XOF6bn (US$10.3m) to Morocco’s Cimenteries de l'Afrique Burkina Faso (CIMAF) for the partial financing of the import of raw materials for cement production. Following the commissioning of a plant in Ouagadougo in 2015, CIMAF is building a 0.7Mta grinding plant in Bobo-Dioulasso, reflecting an investment of XOF20bn. The first cement is expected in June 2018. In addition, the company has also undertaken to double capacity at the Ouag... |
Sinoma anticipates substantial rise in interim net profit05 July 2017, Published under Cement NewsChina National Materials Company (Sinoma) said it expects the net profit attributable to the shareholders of the parent company for the six months ended 30 June 2017 to record a substantial increase as compared to the same period of last year. Such expected growth is mainly attributable to the increase in the prices and sales volume of cement. Its interim results announcement is expected to be published before the end of August, ET News reports. |