Cement News tagged under: corporate
LafargeHolcim to start share buy-back programme31 May 2017, Published under Cement NewsLafargeHolcim announces that it will start its share buy-back programme of up to CHF1bn (EUR916.9m) over 2017-18 on 1 June 2017. The programme that was initially announced at the Capital Markets Day on 18 November 2016 and authorised by the Board of Directors on 26 January 2017, will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent to make the share repurchases on behalf of LafargeHolcim. The second trading line is expecte... |
Sinai 1Q17 loss widens31 May 2017, Published under Cement NewsSinai Cement reported an increase in losses by 55 per cent YoY during the first quarter of 2017, due to the rise of financing and administrative costs. The company said in a statement to the Egyptian Exchange (EGX) on Monday that losses amounted to EGP57.98m (US$3.2m) in 1Q17 compared to EGP37.28m in 1Q16. During the three-month period that ended 31 March 2017, sales increased to EGP385.6m from EGP292.6m in the same period last year. Total expenses grew 33 per cent to EGP68.5m compar... |
Egyptian Cement Co seeks loan for Sohag plant31 May 2017, Published under Cement NewsEgyptian Cement Co has entered into negotiations with a local banking alliance to obtain a loan of EGP4bn (US$221m) to partly finance the cost of its first plant and construction materials complex in Sohag province. The alliance is made up of the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, sources told Al Mal newspaper. The details of terms and conditions memorandum are being agreed upon in preparation for addressing other local banks to contribute to ... |
AfDB provides loan to Diamond Cement Guinée30 May 2017, Published under Cement NewsThe African Development Bank has granted a US$22.5m loan to Diamond Cement Guinéa to finance a clinker production unit. The new 0.5Mta plant will be built in Souguéta, some 200km from Conakry. Clinker from the works will be sent to grinding units in the outskirts of Conakry. According to the agreement, the new unit will help to "reduce the cost of cement production on the one hand and make cement more accessible to the population, while on the other hand, reduce dependence of the Guinea... |
FLSmidth receives cement plant order in Pakistan30 May 2017, Published under Cement NewsFLSmidth has been awarded an order from Power Cement Ltd, part of the Arif Habib Group in Pakistan, for engineering, procurement and supply of equipment for a 7700tpd production line comprising two projects; clinker production and cement production and dispatch. The new production line will expand the two existing lines located in Nooriabad north-east of Karachi, Pakistan. The order includes a complete range of equipment from crushing to packing and cement loading. FLSmidth will also supply... |
FANCESA Cal Orck’o works to start production mid-201930 May 2017, Published under Cement NewsBolivia’s Fábrica Nacional de Cemento (FANCESA) will finish all earthmoving works on the site of its new cement plant in Cal Orck’o in two months’ time, according to the company. New equipment will start arriving in September with the line’s completion scheduled in 2019. The earth movement stage was expected to take only four months but for undisclosed reasons there has been a four-month lag. However, FLSmidth, who was awarded the contract on 27 July 2016 has pledged to start equipment d... |
LafargeHolcim Guinée names Brice Houeto new Managing Director30 May 2017, Published under Cement NewsBrice Houeto has been appointed as the new Managing Director of LafargeHolcim Guinée, effective 1 May 2017. He succeeds Luis Castillo Astruga and his appointment comes eight years after starting his employment with Lafarge. "I am delighted to join LafargeHolcim Guinea, a company with great potential. And I know that I can count on its staff as well as on all of our partners to consolidate the achievements of a company where human and sustainable development remain at the centre of our... |
LafargeHolcim plant in Hungary wins gold World Prix d’Excellence30 May 2017, Published under Cement NewsLafargeHolcim’s Kiralyegyhaza cement plant in Hungary has received the World Prix d’Excellence 2017 from the International Real Estate Federation (FIABCI). The plant was awarded the World Gold Winner prize in the industrial buildings category for its outstanding environmental performance and the high architectural quality of the plant buildings, LafargeHolcim said in a statement. The FIABCI represents the world's real estate professions and its annual World Prix d’Excellence recognises state... |
Prism Cement quarterly net profit falls26 May 2017, Published under Cement NewsIndia-based Prism Cement’s net profit fell to INR701.5m (US$10.9m) versus INR756.1m a year earlier. Consensus forecast for March quarter profit was INR23.01m, according to Reuters. Total income for the three months to the end of March 2017 was INR15.76bn versus INR15.91bn a year ago. Prism cement manufactures PPC under the brand name 'Champion' and premium quality grade of cement under ‘H-Tech’ and ‘Duratech’ brand. It caters mainly to the markets of eastern Uttar Pradesh, Madhya Prad... |
Cimpor EBITDA recovers by 5%25 May 2017, Published under Cement NewsCimpor’s first quarter turnover eased by 0.3 per cent to EUR452.9m, while the EBITDA recovered by five per cent to EUR84.1m. The trading profit (EBIT) improved by 3.1 per cent to EUR36.7m. The net financial charge came down by 18.1 per cent to EUR62.1m to give a pre-tax loss of EUR25.4m, compared with EUR40.3m a year earlier. At the net attributable level there was a loss of EUR34.4m, compared with a loss of EUR40.7m a year earlier. The net debt was 10.7 per cent higher at EUR3,3509m and... |