Cement News tagged under: corporate
RAK Cement Co 1Q profit down 70%16 May 2017, Published under Cement NewsRas Al Khaimah Cement Co reported a decline in profits by 69.8 per cent YoY during the first quarter of 2017, according to a bourse filing. Profits reached AED1.38m (US$38,110) in 1Q17, compared to AED4.57m (US$1.25m) in 1Q16. Revenues declined by 22.7 per cent YoY to AED51.64m in 1Q17, while sales, general and administrative expenses grew 7.7 per cent YoY to reach AED5.49m. Financing costs increased 33.4 per cent to AED 196,250 in 1Q17, compared to AED147,170 in 1Q16. |
Paolo Zugaro appointed general manager of Cementir Holding16 May 2017, Published under Cement NewsThe Board of Directors of Cementir Holding SpA on 11 May 2017 appointed Paolo Zugaro as General Manager of the company. Effective 1 May, Mr Zugaro is also Chief Operating Officer for the entire group. Paolo Zugaro named GM of Cementir Holding With a degree in electrical engineering from Tor Vergata University, Rome, Mr Zugaro (52) has occupied a variety of managerial positions of increasing responsibility both in the Caltagirone Group and in the Cementir Group starting from 1... |
Graymont completes sale of New York Materials business to Upstone16 May 2017, Published under Cement NewsGraymont, supplier of lime and limestone products, has completed the transaction to sell its New York Materials business to Upstone Materials Inc. The New York Materials business is focussed on providing construction stone, sand and gravel, asphalt products and ready-mix concrete to meet infrastructure and general construction needs in the region Graymont serves major markets throughout the United States and Canada, and has extended its reach into the Asia-Pacific region. Graymont also ... |
Saudi Cement net profit down 37%15 May 2017, Published under Cement NewsSaudi Cement has registered a 37 per cent drop in its net profit for the first quarter of SAR165m (US$44m) versus SAR265m (US$70.5m) attributed to lower volumes and selling prices amid slugglish demand. Despite weaker volumes, helped by locational advantage, the company's average realised price marginally declined by three per cent YoY and was down two per cent QoQ, as compared to deep discounts offered by other cement companies, according to Al Rajhi Capital report. Saudi Cement's gro... |
Buzzi Unicem first quarter volumes ahead15 May 2017, Published under Cement NewsBuzzi Unicem's first-quarter turnover improved by 8.9 per cent to EUR588.5m. Net debt at the end of March was 4.1 per cent higher at EUR979.9m, while capital expenditure was reduced by 29 per cent to EUR49.2m. Cement deliveries increased by 4.5 per cent to 5.2Mt, while group ready-mixed concrete deliveries were ahead by 9.1 per cent to 2.6Mm³. The Italian turnover advanced by 12.7 per cent to EUR95.1m as deliveries of cement and clinker showed a good improvement thanks to higher export sh... |
Nevada Cement Co to reduce emissions, upgrade pollution controls15 May 2017, Published under Cement NewsThe US Environmental Protection Agency announced an agreement with the Nevada Cement Company to install new air pollution control technology at its Nevada facility and replace a heavy-duty diesel truck and a diesel railcar mover at the facility with clean emissions vehicles. Today’s agreement improves Nevada Cement’s compliance with federal clean air laws and resolves alleged violations of the Clean Air Act. The upgrade will reduce NOx emissions by approximately 1140tpa. “This settlement w... |
Eagle Cement Corp prices IPO at PHP1515 May 2017, Published under Cement NewsEagle Cement Corp has priced its initial public offering (IPO) at PHP15 (US$0.30)/share, following the recent approval of its public listing by the Philippine Stock Exchange (PSE), to raise up to PHP8.63bn. The firm plans to sell 500m common shares by way of primary offer with an over-allotment option of up to 75m secondary shares. The offer period is set on 16-22 2017 while target listing date is on 29 May 2017. "We are very pleased with the bookbuilding results. The issue was well r... |
National Cement post 1Q loss15 May 2017, Published under Cement NewsNational Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday. |
Cementos Argos 1Q revenues impacted by Colombia12 May 2017, Published under Cement NewsCementos Argos posted a 6.1 per cent decline in consolidated revenues for the first three months of the year, citing a challenging first quarter affected mainly by Colombia. Over 70 per cent of revenues and EBITDA came from operations outside of Colombia. The US continues to be its main market in terms of revenues, cement and ready-mix volumes. For the first time, the Caribbean and Central America group region was the leading contributor to EBITDA accounting for 43 per cent. Cement vo... |
Cementir benefits from acquisitions12 May 2017, Published under Cement NewsCementir's first-quarter turnover rose by 33 per cent to EUR279.9m while on a like-for-like basis the improvement was just 0.5 per cent. EBITDA improved by 7.9 per cent to EUR23m, with only the Nordic countries showing an improvement. At the trading level there was a reduction from a EUR1.2m, profit to a EUR1m loss and at the pretax level the loss increased by 2.8 per cent to EUR6.2m. Net debt at the end of March was EUR646.4m compared with the EUR271.9m a year earlier to give a gearing l... |