Cement News tagged under: corporate
FLSmidth sees strong momentum in service activities continue in 1Q10 May 2017, Published under Cement NewsFLSmidth achieved its highest quarterly order intake from total service activities since 2012 reporting strong moment continued into the first quarter of this year. "The growing momentum in the global economy is filtering through to FLSmidth's service business, while demand for equipment and projects remains largely unaffected. Based on our extensive knowledge from projects, products, and services, we continue to improve our competitive edge and assist our customers in their pursuit of en... |
Southern Province sees 63% drop in 1Q profit10 May 2017, Published under Cement NewsSaudi-based Southern Province Cement Co reported a 62.9 per cent drop in profits for the first quarter of 2017, compared to the same period of the previous year, while QoQ profits declined 30.9 per cent. Profits stood at SAR105m (US$28m) in 1Q17, compared to SAR283m in 1Q16, according to a filing to the Saudi Stock Exchange. The company attributed the decrease in profits to a drop in sales as a result of lower demand and lower selling prices given competition in the market. Sales dec... |
Cementos Molins to raise capacity by 4.4Mta09 May 2017, Published under Cement NewsIn the next three years Cementos Molins plans to invest EUR350m to increase its capacity by 4.4Mta. The company currently has projects in Argentina, Colombia and Bangladesh. In Argentina the company will invest EUR100m in its joint venture with Votorantim, Cementos Avellaneda. The sum represents about half the investment required to add 0.2Mta at the Olavarría unit this year and expand capacity at the San Luis works to 0.9Mta by 2019. Meanwhile, in Colombia Cementos Molins and its pa... |
Lafarge Africa seeks approval to raise NGN140bn09 May 2017, Published under Cement NewsLafarge Africa plans to seek shareholders' approval next month to raise NGN140bn (US$445.86m) and also convert some loans into equity as part of the capital injection, the company said on Monday. The local business of Lafarge Holcim said it will seek approval to convert loans due from a shareholder to equity under the rights issue. (Source: Reuters) |
Najran Cement Co posts lower profits09 May 2017, Published under Cement NewsNajran Cement Company reported a 81.7 per cent YoY decline in its profits during the first quarter of 2017, according to a Saudi bourse filing. Profits reached SAR11.22m (US$2.99m) in 1Q17, compared to SAR61.34m in 1Q16. Net revenues fell 50.4 per cent to SAR111.4m in the period under review, compared to SAR224.4m in 1Q16. The company’s 1Q17 results were weighed down by lower selling prices, and decreased sales volumes due to lower demand and the slowdown in construction activitie... |
Summit full-year income up 32.7%08 May 2017, Published under Cement NewsFor the 12 months ended 31 December, Summit Materials Inc reported basic and diluted earnings per share of US$0.53 on net income of US$36.8m up 32.7 per cent YoY. For the same 12-month period, the US-based producer reported adjusted net income of US$98.3m. For the three months ended 31 December 2016, it reported a basic loss per share of ($0.00) on a net loss of (US$0.3). For the same three-month period, Summit reported adjusted diluted earnings per share of US$0.21 on adjusted net income... |
ACC to consider merger with Ambuja Cement08 May 2017, Published under Cement NewsThe Board of Directors of ACC, at its meeting on Friday, decided to commence an evaluation of a potential merger with Ambuja Cement. Both Indian cement concerns are part of the LafargeHolcim group. The move is being considered "with a view to combine the strengths of both businesses so as to benefit all stakeholders," ACC said in a statement. A special committee of directors, of which the majority are independent directors, has been installed to commence the evaluation. "No decision ... |
Dalmia top bidder for Chhattisgarh limestone block08 May 2017, Published under Cement NewsDalmia (Bharat) Cement has emerged as the preferred bidder for the Kesla II limestone block in Raipur district Chhattisgarh, India, which was auctioned by the state government on Tuesday. Business Line (India) reported that an official statement said that with 215Mt of reserves, the block has an estimated value of mineral resource of INR103.67bn (US$1.61bn). |
LafargeHolcim reports on positive first quarter05 May 2017, Published under Cement NewsLafargeHolcim on Wednesday release its results for the first three months of the year, reporting improved pricing in a number of markets, encouraging signs in India and parts of Europe but tough market conditions in Malaysia and Indonesia. For the first three months of the year, LafargeHolcim posted a decline in cement shipments of 15 per cent at 48.1Mt. Shipments of aggregates were 0.2 per cent ahead at 51.7Mt while ready-mixed concrete deliveries were came down by 9.4 per cent ... |
Boral receives final approval for Headwaters acquisition05 May 2017, Published under Cement NewsAustralian building materials supplier Boral has received final US approval for its US$2.6bn (AUD3.5bn) acquisition of US firm Headwaters Inc. The US Federal Trade Commission approved the deal, which will result in Headwaters merging with Boral's existing US business to create a new division called Boral North America. Boral expects that the transaction will close within two business days, and the Headwaters financial results will be consolidated from this time. Commenting on the deal, ... |