Cement News tagged under: corporate
Hengya Cement gives green light to US$1bn Tanzania investment01 March 2017, Published under Cement NewsHengya Cement, a subsidiary of China's Hengyuan International Engineering Group, has announced that it will build a new cement plant in Tanga on Tanzania's northeast coast, reports website China.org.cn. The plant's capacity has not been disclosed, but Hengya claims that it will be one of the largest in sub-Saharan Africa. The initial phase of the project will cost US$1bn, with a second phase to follow. "The Chinese investors' move is recommendable as it meant to meet country's cement d... |
India: Prism Cement receives part-fuel requirement for 5 years01 March 2017, Published under Cement NewsPrism Cement Ltd has successfully bid for 18,300tpa of coal from South Eastern Coalfields Ltd, a subsidiary of Coal India Ltd, in a recently-held auction of coal linkages for the cement industry, according to a filing to the Bombay Stock Exchange. With the bid, the cement producer has secured part of its fuel requirement for the next five years. The allocation was made at a nominal premium over the floor price. |
Vicat's profits modestly ahead in 201628 February 2017, Published under Cement NewsVicat's turnover eased by 0.2 per cent in 2016 to EUR2453.8m while EBITDA was up by the 3.2 per cent to EUR458m, while at unchanged exchange rates and other parameters there would have been increases of 4.1 and eight per cent, respectively. The trading profit improved by five per cent to EUR258m, with the increase at unchanged parameters being 9.6 per cent. The net financial charge was EUR10.1m lower at EUR38.1m and after an increase in the contribution from associates from EUR4.9m to EUR13.... |
Semen Indonesia 2016 net profit plateaus28 February 2017, Published under Cement NewsSemen Indonesia posted a 0.2 per cent increase in net income in 2016 last year amid falling sales and revenue, according to a company filing on Monday. The state-controlled company posted IDR4.5trn (US$337m) in net income last year, just slightly higher than in 2015. The company's total sales and revenue dropped three per cent to IDR26.1trn amid weak demand from the domestic market. Semen Indonesia's sales by volume, excluding from its subsidiaries, dropped 0.6 per cent to 13.9Mt in... |
Croatia: HeidelbergCement appeals Commission's decision28 February 2017, Published under Cement NewsHeidelbergCement AG has appealed against an EU Commission decision from 10 October 2016 that initiated an in-depth Phase II investigation into the joint acquisition of Cemex Croatia by HeidelbergCement and Schwenk. HeidelbergCement and Schwenk Cement jointly control Duna Dráva Cement ("DDC"), a Hungarian cement company that is the largest cement importer in Croatia. Cemex Croatia, the largest cement producer in Croatia, is a subsidiary of the Cemex Group. Schwenk has also appealed the dec... |
Pakistan's cement industry performance sees profitability soar during 1HF1728 February 2017, Published under Cement NewsPakistan's cement industry performed well during 1HFY17, report local analysts. The industry's profitability soared by 12 per cent YoY to PKR29bn (US$276m), as compared to PKR26bn recorded in the corresponding period last year. E xperts attribute the increase in profitability to higher dispatches, improved gross margins to 43 from 42 per cent and lower financial costs (-44 per cent YoY). According to Spectrum Securities (Private) Ltd, total dispatches for the same period amplified due to... |
China: Shanshui Cement defaults on bond28 February 2017, Published under Cement NewsShandong Shanshui Cement Group has defaulted on a CNY1bn (US$145m) bond, according to China Merchants Bank. With a huge amount of debt due in 2017, China is facing rising default risks as growth moderates and Beijing switches to a tighter monetary policy. Shanshui hasn't been able to raise enough money to fully repay the three-year debt, which was due 27 February, the underwriter said in a statement. Shanshui has already defaulted several times since 2015 due to liquidity strains, rest... |
Cementos Argos' 4Q16 results boosted by US operations27 February 2017, Published under Cement NewsCementos Argos has announced that its 4Q16 results saw an 8.7 per cent rise in EBITDA and 70 per cent of its revenues was generated from operations outside of its domestic market of Colombia. Group dispatched volumes of cement and ready-mix were down by 5.5 per cent and 6.5 per cent, respectively in the 4Q16. Consolidated EBITDA was COP396bn (US$137m), achieving an EBITDA margin of 19.7 per cent. Net income amounted to COP27bn. USA The group's US operations reported an EBITDA of... |
Turkey: Sabanci Holding announce investment funds27 February 2017, Published under Cement NewsTurkish conglomerate Sabanci Holding has plans to make TRY4.5bn worth (US$1.25bn) of investments in 2017, the group's CEO said. The holding has plans to invest the funds in Turkey throughout 2017, up TRY0.4bn (US$110m) or 10 per cent from last year, Zafer Kurtul said at a Sabancı group annual briefing meeting where last year’s financials were announced. Mr Kurtul said nearly 80 per cent of this amount would be channelled into expanding production capacity while the remainder would be set ... |
Tanzania: Lake Cement hopes to start construction of Bagamoyo plant soon27 February 2017, Published under Cement NewsA senior official at Lake Cement Ltd has confirmed that the company still plans to establish a US$150m cement plant in Chalinxe-Tarwanda, Bagamoyo, Tanzania. Plans were originally anounced back in November 2016, when it was said that construction would start in mid-2017. Afroz Ansari, Lake Cement's asscoiate vice president, said: "The plan hasn't changed. The planned plant in Bagamoyo will have the capacity of producing 150,000t of cement per month," he said. Lake Cement currently prod... |