Cement News tagged under: corporate
Oman: Raysut Cement gross profit falls 39% in 1Q1718 April 2017, Published under Cement NewsRaysut Cement posted a 38.7 per cent decline in gross profits in 1Q17 as profits reached OMR6.29m (US$16.3m), down from OMR10.26m in 1Q16, according to the company’s statement to the Muscat Securities Market. Revenues were down 23.2 per cent to OMR19.43m in the first three months of the year, copared to OMR25.3m in 1Q16. Profit before tax reached OMR4.56m in 1Q17, a 48.6 per cent YoY decrease from OMR8.87m. |
Nigeria: Ashaka Cement sees 27% profit drop in 201618 April 2017, Published under Cement NewsIn its audited results Ashaka Cement reported revenues slipping to NGN17.351bn (US$56.8m) in 2016 from NGN17.145bn the previous year. Profit before tax fell from NGN3.209bn in 2015 to NGN2.663bn in 2016. Profit after tax saw a 27 per cent decrease from NGN2.76bn in 2015 to NGN2.01bn one year later. The company applied for a voluntary delisting from the Nigerian Stock Exchange following a violation of the stock exchange’s requirement of a free float deficiency provision of 20 per cent ... |
Cemex divests of its Pacific Northwest Materials business in the US18 April 2017, Published under Cement NewsCemex announced that one of its subsidiaries in the US has signed a definitive agreement for the sale of its Pacific Northwest Materials Business to Cadman Materials Inc, a LehighHanson company and US subsidiary of HeidelbergCement Group, for approximately US$150m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The closing of this transaction is subject to the satisfaction of certain conditions, including approval... |
UAE: Fujairah Cement to pay AED 21.35m dividends18 April 2017, Published under Cement NewsUAE-based Fujairah Cement Industries Co on Thursday approved the recommendation of distributing six per cent of the capital as cash dividends for fiscal year 2016. The company will pay a total of AED21.35m (US$5.81m) as cash dividends to entitled shareholders, according to a bourse statement issued on Sunday. During FY16, Fujairah Cement achieve a net profit of AED56.72m, up 12 per cent on the AED50.56m recorded in FY15. |
India: Sagar Cements to invest another INR280m in power projects13 April 2017, Published under Cement NewsSagar Cements has announced that it is to invest a further INR280m (US$4.35m) to complete the construction of a captive power plant and finance a new solar project, according to reports in the Hindu. The extra money will go towards raising the capacity of the coal-fired captive power plant being built at the firm’s Mattampally plant from 15MW to 18MW. In addition, Sagar is to install a 1MW solar power plant, to be commissioned by June 2017. Sagar also announced that its BMM subsidia... |
China Shanshui Cement wins injunction in ongoing dispute13 April 2017, Published under Cement NewsShanshui Cement has obtained an injunction from a Hong Kong court that prevents former executives from removing assets worth up to CNY142m (US$20.6m) from Hong Kong and posing as directors or officers company, Reuters reports. China Shanshui said on Monday that current executives had been attacked with pepper spray, smoke bombs and water guns and held for two hours by associates of a former official when they had tried to retake control of company property in China. In a filing, the fi... |
BBMG expects 1Q net profit to increase to CNY380-450m12 April 2017, Published under Cement NewsChina-based BBMG Corporation said it expects to achieve a net profit attributable to shareholders of CNY380m-450m (US$55m-65m) for the first quarter ended 31 March 2017, an increase from the CNY151m (US$21.9m) recorded in the same period of last year. An increase in operating results for 1Q17 is mainly due an increase in booked gross floor area for the property development segment compared with the same period of, thereby resulting in increased revenue and profit for the segment. The i... |
US Concrete acquires aggregates operation in New Jersey11 April 2017, Published under Cement NewsUS Concrete Inc announced yesterday that it has strengthened its aggregates capacity and ability to supply its New York City ready-mixed concrete operations by acquiring the assets of Corbett Aggregates Companies LLC, a provider of concrete sand located in Quinton, New Jersey. The acquisition furthers US Concrete's vertical integration strategy and self-sufficiency in internal aggregates consumption, the company noted. Corbett features approximately 401 acres of land with over 35Mt of pr... |
Patrick Kron to be elected to LafargeHolcim board11 April 2017, Published under Cement NewsLafargeHolcim will propose the election of Patrick Kron as a board member to its general meeting on 3 May. "We are delighted to be able to nominate Patrick Kron, who is an experienced management personality with extensive experience in the transformation of industrial companies," said LafargeHolcim President Beat Hess in the announcement. Mr Kron was formerly head of the industrial group Alstom. Philippe Dauman and Alexander Gut are not available for re-election. |
Adebajo resigns as executive director of Lafarge Africa Plc11 April 2017, Published under Cement NewsAdepeju Adebajo has resigned as an executive director of Lafarge Africa Plc, the company's board of directors announced. Prior to her resignation, Mrs Adebajo was managing director, Wapco Operations and then managing director, Geo-Cycle & Project Management Office at Lafarge Africa Plc. Mrs Adebajo resigned upon her appointment as the Honourable Commissioner for Agriculture in Ogun State. The Board and Management congratulated Mrs Adebajo on her new appointment and call to service and ... |