Cement News tagged under: corporate
Eagle Materials improves profit by 44 per cent25 January 2017, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2016 increased by 3.7 per cent to US$1.01bn. The trading profit before corporate overheads showed a strong recovery and rose by 37.5 per cent to US$283.9m, of which cement contributed 44.9 per cent compared with 56.2 per cent a year earlier. The group trading profit was ahead by 42.5 per cent to US$256.1m. After a net interest charge 22.8 per cent higher ... |
Uganda: Hima Cement begins construction of Tororo grinding station25 January 2017, Published under Cement NewsHima Cement has begun work on a US$40m grinding station in the Tororo district of eastern Uganda, The Observer reports. The 1Mta plant is being built in a region that already plays host to Tororo Cement. During the groundbreaking ceremony, Hima’s CEO, Daniel Pettersson, said that the availability of limestone deposits had drawn his firm to the Tororo region. “We have enough for [approximately] 20 years [at Hima], but we are exploring. There are no big deposits in western Uganda. You fi... |
CIMAT posts revenues down by a quarter for 201625 January 2017, Published under Cement NewsCiment de l’Atlas (CIMAT) expects to report revenues of MAD2.16bn (US$215.7m) in 2016, compared with MAD2.67bn the year prior. The company attributes the drop to the deceleration of export sales. Net profit in 2016 reached MAD519m. For 2017 the company forecasts revenues to slip to MAD2.159bn with a net profit of MAD526m. CIMAT envisages a broad geographic presence by extending its distribution network in the main growth markets. In addition, it plans to optimise its prod... |
Cemex's subsidiary announces successful takeover bid for TCL25 January 2017, Published under Cement NewsCemex SAB de CV has announced that its indirect subsidiary, Sierra Trading (Sierra), having received the Foreign Investment License from the Trinidad and Tobago Ministry of Finance, disclosed that all terms and conditions of the offer made, to acquire up to 132,616,942 ordinary shares for TT$5.07 (US$0.76) in cash per share in Trinidad Cement Ltd have been complied with. "We are satisfied with and grateful for the trust placed in us by TCL stockholders,” said Fernando A Gonzalez, CEO of C... |
Russia: Sibirsky Cement reports 17% drop in output24 January 2017, Published under Cement NewsProduction at the Russian cement company Sibirsky Cement fell 17 per cent YoY to 3.169Mt in 2016, said the company in a statement. The company attributed to declining sales to contracting domestic demand. Sibirsky expects demand for cement to fall 8-10 per cent to 4.7-4.8Mt in 2017. Output at Topkinsky Cement, Kemerovo region, declined 22 per cent YoY to 2.15Mt in 2016 while Krasnoyarsky Cement saw production slip three per cent to 752,500t. The Timlyuisky plant posted a 10 per cent d... |
Pakistan: Cherat plans third production line24 January 2017, Published under Cement NewsPakistan cement producer Cherat Cement Company has disclosed that it will undertake another expansion of some 2.34Mta (7100tpd) at its existing site of Nowshera, Khyber-Pakhtunkhwa, in north of the country. Azam Faruque, Cherat Cement's CEO has informed Pakistan Stock Exchange (PSX) that it would take its total cement capacity to around 4.64Mta. The Board of Directors has authorised the company's management to finalise terms and conditions for the procurement and supply of equipment ... |
Lithuania: Akmenes largely offsets decline in Russia exports24 January 2017, Published under Cement NewsPreliminary data show that Lithuania’s Akmenes Cementas posted EUR51m in total revenue, down by EUR4.4m on 2015. Around 60 per cent of this revenue was generated in the domestic market, a further 20 per cent in other Baltic states and Belarus while the balance came from sales in Nordic countries. Exports to Russia’s exclave of Kaliningrad used to account for around 30 per cent of its annual revenue, but mandatory cement certification by Russia last year forced Akmenes Cement and other E... |
Nigeria: Aliko Dangote rewards domestic cement distributors24 January 2017, Published under Cement NewsDangote Cement Plc has rewarded its distributors with NGN2.4bn (US$7.8m) as sales bonus and for their continuous loyalty. Another NGN5bn has been set aside to assist the distributors in enhancing their sales. Chairman, Aliko Dangote, gave out the cheques ranging from NGN30m to NGN182.9m to distributors at a ceremony in Lagos at the weekend. He hailed them for their long-standing commitment, devotion, loyalty and valuable contribution to the distribution and sale of Dangote Cement in 2... |
Taiwan Cement President passes away23 January 2017, Published under Cement NewsLeslie Cheng-yun Koo, chairman and president of the Taiwan Cement Corporation, died Monday, 23 January after sustaining critical injuries in a fall on Saturday. Mr Koo (62) was rushed to a hospital on Saturday after falling down a flight of stairs in the Regent Taipei, where he was attending a wedding banquet. He was taken to hospital for emergency treatment, where he remained in an intensive care unit. He had sustained extensive head injuries. Taiwan Cement is expected to issue a stat... |
UltraTech Q3FY17 reports post-tax profit up 5%23 January 2017, Published under Cement NewsUltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period. Profit before interest, depreciation and tax was INR12.80bn as compared to INR12.74bn in the same period of the previous year. Profit After Tax (PAT) wa... |