Cement News tagged under: corporate
Carthage Cement reports domestic sales up 8%25 April 2017, Published under Cement NewsTunisia’s Carthage Cement has seen its domestic sales rise to TND33.97m (US$13.6m) in 1Q17, up eight per cent YoY. However, the import ban by Algeria has seen the company’s exports to the neighbouring country temporarily suspended, resulting in a 74 per cent drop in cement exports to TND2.2m. The company's overall sales at the end of March decreased by 13 per cent to TND46.3m compared to TND53.4m in the 1Q16. Carthage’s cement production fell by five per cent YoY while clinker product... |
Lucky Cement 9MFY16-17 profit and volumes increase25 April 2017, Published under Cement NewsLucky Cement achieved a profit before tax of PKR14.668bn (US$140.2m) during the first nine months of FY16-17 compared to the PKR13.395bn recorded in the same period a year earlier. Cement volumes increased by 8.3 per cent to 5.53Mt in the nine month period. Exports, however, were down by 23.09 per cent. The increase in revenue of 5.4 per cent was mainly attributed to the higher sales volumes. During the period, the company’s cost per tonne of sales was down by four per cent YoY, which... |
LafargeHolcim CEO resigns24 April 2017, Published under Cement NewsLafargeHolcim’s Board of Directors today announced it has accepted the resignation of Eric Olsen, CEO of LafargeHolcim. Eric Olsen will leave on 15 July 2017, two years after taking up the CEO role and assuming responsibility for successfully implementing the merger of Lafarge and Holcim. “Eric Olsen is a leader who brought together two companies to create one genuinely global champion. We are very grateful to him for his efforts,” said Beat Hess, Chairman of the Board of Directors. The a... |
ACC 1Q sales volumes up 4%24 April 2017, Published under Cement NewsACC, part of the LafargeHolcim group, reported a four per cent rise in sales volumes for the first quarter of 2017 to 6.6Mt from 6.36Mt a year earlier. The company noted that the rise in volumes came as the impact of the country’s demonetisation move declined and benefits were delivered from ACC’s ongoing customer excellence initiatives and higher sales from the expanded capacity at Jamul and Sindri plant. Two new products were launched in February 2017, ACC Suraksha and ACC HPC (High P... |
Elementia invests US$250m in Mexican cement plant24 April 2017, Published under Cement NewsElementia anounced it will invest US$250m in the expansion of its Tula cement plant in Hidalgo, Mexico. The project will see capacity at the works rise to 1.5Mta. The contract for the design, equipment supply, construction, installation and commissioning of the 3000tpd clinker plant was awarded to Fives FCB via its subsidiary Trituradora. The expansion is expected to be completed in mid-2017. |
Construction begins at McInnis Cement’s Bronx terminal21 April 2017, Published under Cement NewsWork is underway at McInnis Cement’s New York terminal. The site in the South Bronx is part of McInnis’ network of terminals, strategically located throughout the eastern portion of North America and chosen for their access to efficient waterways, as well as their proximity to the market to minimise truck miles to its customers. A new development standard When completed, the 74,600ft2 terminal in the Bronx will feature a new warehouse that can store 43,000t cement and load up to 80 tru... |
Taiwan Cement Corp to privatise subsidiary21 April 2017, Published under Cement NewsTaiwan Cement Corp, the country’s largest cement maker, yesterday announced a proposal to privatise its TCC International Holdings Ltd (TCCI) subsidiary and delist from the Hong Kong Stock Exchange. TCCI has cement operations in several southern Chinese provinces. If the proposal is completed, TCCI would become a fully-owned unit of Taiwan Cement, TCCI managing director, Jason Koo, told a news conference. Taiwan Cement is the largest shareholder of TCCI, owning 63.05 per cent of the... |
Philippines: Eagle Materials gets IPO green light21 April 2017, Published under Cement NewsThe Securities and Exchange Commission of the Philippines has approved the initial public offering applications of cement-maker Eagle Cement Corp. Based on a document from the SEC, Eagle Cement was given authority to sell up to 575m shares at PHP16/share. The offer will consist of 500m primary shares and up to 75m worth of secondary shares for overallotment, in case of excess demand. This exercise will bring to public hands about 11.5 per cent of Eagle Cement’s shares. |
Morocco: LafargeHolcim to open Laâyoune grinding unit21 April 2017, Published under Cement NewsLafargeHolcim is preparing to inaugurate its first cement grinding unit in Laâyoune, southern Morocco. The new facility is expected to support the development of the entire south of the country as it supplies cement to major infrastructure and housing projects. HeidelbergCement subsidiary Ciments du Maroc already operates a 0.25Mta grinding works in the area. The company has the option to double its capacity when required. In addition, Anouar Invest has announced plans to build a 0... |
Fitch Affirms Votorantim Cimentos' IDR at 'BBB-'; Outlook remains Negative20 April 2017, Published under Cement NewsFitch Ratings has affirmed the Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of Votorantim Cimentos SA (VCSA) at 'BBB-' and its National Scale rating at 'AAA(bra)'. The Rating Outlook for the IDRs remains Negative while the Outlook for the national scale rating has been revised to Negative from Stable. The Negative Outlook reflects the challenges VCSA and its parent Votorantim SA (VSA) face as they attempt to deleverage by 2018. “It is likely VSA and VCSA will need to ... |