Cement News tagged under: corporate
SCG Cement buys Vietnam Construction Materials07 March 2017, Published under Cement NewsSiam Cement Group’s wholly-owned subsidiary SCG Cement-Building Materials Co has acquired 100 per cent of Vietnam Construction Materials JSC, an integrated cement operator in central Vietnam. The US$440m enterprise value of this transaction includes net debt and additional efficiency improvement investment in the acquired assets. This deal brings SCG’s cement capacity across ASEAN outside Thailand to 10.5Mta, relative to its 23Mta capacity in Thailand. |
Trinidad Cement forecasts a competitive 201707 March 2017, Published under Cement NewsTrinidad Cement Ltd (TCL) has forecast construction activity to remain sluggish during the coming year, particularly in Trinidad and Tobago and Barbados, in the face of "increasingly aggressive competition in the region". In its audited financial report for the 12 months ending December 2016, TCL, which is the subject of a takeover by the Mexican-based cement giant Cemex, said it will continue to focus on three key elements to reinforce the position of the company, including seeking out an... |
Cementir's cement and clinker sales rise by 7.9% in 201606 March 2017, Published under Cement NewsCementir Holding’s cement and clinker sales for 2016 amounted to 10.1Mt in 2016, up 7.9 per cent on 2015. Strong sales in Malaysia and Scandinavia offset poor returns in Italy, where cement sales fell, while the depreciation of local currencies compared to the EUR was negative EUR46.8m. Danish grey and white cement sales rose by 9.5 per cent during 2016 although ready-mix sales fell -1.3 per cent. In Turkey cement and ready-mix sales rose by five and 27 per cent, respectively. Turkish ... |
Thailand: Siam City Cement to focus on malta cement06 March 2017, Published under Cement NewsSiam City Cement Plc is looking to expand its production of malta cement to gain better returns from expected market growth driven by increased infrastructure spending in Thailand. Siam City Cement forecasts that the domestic cement market will expand by 1-3 per cent this year and it is focussing on special grade 'malta cement' which is designed for types of road, railways and reservoirs, said Mr Kajornsak Manosupsak. The production of malta cement will give the company a higher p... |
Tanzania: Dangote prepares for coal extraction in Ngaka06 March 2017, Published under Cement NewsTanzanian President, John Magufuli, has taken action to enable Dangote Cement to start mining its own coal to power its new US$650m Mtwara cement factory. Speaking at the official launch of the 580 trucks, which will be used by Dangote to transport cement from the southern region of Mtwara to the rest of the country, Mr Magufuli gave a seven-day ultimatum for the Ministry of Energy and Minerals to ensure that the coal mining area in Ngaka is available to the cement producer to start mining... |
LafargeHolcim admits making ‘unacceptable’ payments to Syrian armed groups03 March 2017, Published under Cement NewsLafargeHolcim has released details of an internal investigation into the conduct of its employees running the Jalabiya cement works up to 2014. The investigation was launched in response to allegations in Le Monde, which stated that the firm had entered into deals with armed groups including Islamic State in order to protect its staff and business interests. The results of the internal inquiry conclude that "the local company provided funds to third parties to work out arrangements wit... |
Qatar: QNCC to increase production and dispose of plant03 March 2017, Published under Cement NewsQatar National Cement Company (QNCC) is planning to increase its cement production capacity by 5500tpd during the first half of the current year. Salem bin Butti Al Naimi, chairman and managing Director of QNCC, made the announcement at a shareholders general assembly on Wednesday. "Board of Directors Plan for 2017 is to commission the two cement mills of Plant (5) during the first half of the year to increase the production capacity of cement by 5500tpd and complete the construction of P... |
LafargeHolcim's net profits double YoY in 201603 March 2017, Published under Cement NewsLafargeHolcim saw its net profit double on an annual basis to CHF1.9bn for 2016 (US$1.87bn), against CHF970m a year earlier. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reached CHF1.611bn for the fourth quarter of 2016. In comparison, Reuters' analysts targeted some CHF1.52bn. Revenue for the last quarter stood at CHF6.526bn while Reuters' analysts targeted some CHF6.92bn. For 2017, the group expects its adjusted EBITDA to grow by over 10 per c... |
Holcim Croatia boosts revenues thanks to exports03 March 2017, Published under Cement NewsHolcim Croatia saw its revenues rise by seven per cent YoY in 2016 as it improved exports. In addition, the company reduced its expenditures and kept cash flow high. However, the domestic market maintained the pressure to lower prices. Unfortunately, on the domestic market there is still a constant pressure to reduce prices, so all the effort we've invested as a team could actually have had a much better effect", the company’s CFO, Denis Zupicic, explained. He added that if prices were to... |
Holcim Philppines reports lower net income in 201603 March 2017, Published under Cement NewsHolcim Philippines (LafargeHolcim group) reported a lower net income of PHP6.8bn (US$134.8m) last year, compared to the PHP8.1bn recorded in 2015. The 2015 profit included a one-time gain of PHP2.6bn from the revaluation of Holcim’s investment in an affiliate. Strong revenues and effective cost management efforts lifted the company’s earnings. With higher revenues and manufacturing and enhanced distribution network, the company’s EBITDA increased by 14 per cent to PHP10.8bn. "Withou... |