Cement News tagged under: corporate
Paraguay: INC's Vallemi dryer online in March21 February 2017, Published under Cement NewsParaguay’s Industria Nacional de Cemento (INC) expects to commission the new pozzolana dryer at its Vallemi plant next month. In addition, work on the plant’s fuel conversion is also progressing well, having been completed 80 per cent, according to INC CEO, Jorge Méndez. The investment into the plant will enable it increase production, improve product quality and lower cement prices in Paraguay. |
Kuwait: Gulf Cement Co to produce oil well cement20 February 2017, Published under Cement NewsGulf Cement Co was granted a permit for the production of oil well cement from the American Petroleum Institute. Gulf Cement reported a 27.1 per cent fall in profits to KWD4.141m (US$13.56m) in FY16 from KWD5.683m in the previous fiscal year. |
South Korea: preferred bidders named in US$567m Hyundai deal17 February 2017, Published under Cement NewsHanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse. The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent. The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be si... |
UAE: Arkan’s profits fall by 25% in 201617 February 2017, Published under Cement NewsArkan Building Materials has seen its annual profits fall by a quarter to AED75.7m (US$20.6m), according to reports in Construction Week Online. The company, which is the UAE’s single largest cement producer by installed capacity, blamed damage related to heavy rains in March 2016 as the cause of its fall in revenues. Better control of costs saw the firm’s gross profit margins increase to 36 per cent in 2016, while sales volumes improved in both the UAE and internationally. However, ex... |
Saudi Arabia: Southern Province reports 48% fall in 4Q profits17 February 2017, Published under Cement NewsSouthern Province Cement reported a decline of 48 per cent in its profits for the fourth quarter of 2016. Profits in 4Q16 fell to SAR156m (US$41.6m) from SAR300m in 4Q15. Southern Province Cement is part of a trend that sees Saudi cement producers report a considerable drop in sales due to a signficant reduction in construction activity in 2016. Infrastructure spending in Saudi Arabia has sharply dropped in 2016 and total cement consumption in 2016 reached 55.3Mt, a far cry from its 2015... |
Kazakhstan: Rudny cement plant online in 201717 February 2017, Published under Cement NewsRudny Cement Factory LLP is scheduled for commissioning in Rudny, Kostanai region, later this year, according to the town’s mayor, Bakytzhan Gayazov. The 0.5Mta plant represents an investment of KZT14.8bn (US$46.4m). The construction of the plant had been put on hold and resumed multiple times since 2010 due to lack of financing. |
Saudi Arabia: Najran Cement receives export licence17 February 2017, Published under Cement NewsNajran Cement obtained an export licence from the Saudi Ministry of Commerce and Investment. The licence was received on 15 February 2017 and is valid for one year, according to the company’s statement to the Tadawul, the Saudi stock exchange. |
Turkey: Akcansa Çimento sees 1.8% rise in FY16 net profit17 February 2017, Published under Cement NewsAkcansa Çimento reported largely-stable revenues of TRY1.46m (U$398.1m) for 2016, when compared with TRY1.46bn in 2015. FY16 net profit increased to TRY286.4m in 2016, up 1.8 per cent YoY. in 2015, the company recorded a net profit of TRY281.1m. |
PPC will strengthen its hand with AfriSam merger17 February 2017, Published under Cement NewsThe focus of a potential merger in South Africa between two major cement producers caught the eye this week. PPC and AfriSam already have a significant stake in the country’s cement market and by merging PPC would extend its dominance to control some 60 per cent of domestic sales, if it accepts AfriSam's offer to merge. As recently as November, PPC’s chief executive, Darryll Castle, suggested that there were too many cement companies operating in the country and that consolidation was requ... |
Boral's Australian cement turnover declines16 February 2017, Published under Cement NewsBoral's turnover for the six months to the end of December declined by 4.6 per cent to AUD2093m (EUR1497m), largely reflecting the transfer of US Bricks to joint venture status and the completion of two LNG projects as well as the decline in Western Australia. EBITDA improved by 3.5 per cent to AUD333m (EUR238m) while the trading profit advanced by 5.5 per cent to AUD211m (EUR151m). After a net interest charge 12.9 per cent lower at AUD27m (EUR19m) the pretax profit improved by 8.9 per ce... |