Cement News tagged under: corporate
Arabian Cement profits down 84% in 4Q1617 January 2017, Published under Cement NewsArabian Cement Company have reported an 84.36 per cent YoY fall in net profit in the 4Q16, according to a bourse filing. Profits reached SAR24m (US$6.4m) in 4Q16 compared to SAR153.5m in the corresponding period of the previous year. A decrease in gross profit by SAR125m was a result of a decline in sales volume and prices, as well as the increase in general and administrative expenses by around SAR3m, the company’s statement indicated. Total net profits for 2016 retreated by 18.41 pe... |
USA: TAKRAF acquires bulk handling company17 January 2017, Published under Cement NewsGlobal mining and bulk material handling equipment supplier, TAKRAF, has acquired the assets of FMC Technologies' Material Handling Systems (FMC MHS) business unit based in Lansdale, Pennsylvania, USA. For over 100 years, FMC MHS has provided systems expertise by engineering, procuring, and construction assistance of complete material handling systems for a variety of industries, including mining, minerals, power and food. It also provides a line of proprietary equipment for rotary drying... |
Canada: McInnis Cement plant nears completion17 January 2017, Published under Cement NewsThe new Port Daniel-Gascons cement plant of McInnis Cement, Canada, was completed for nearly 90 per cent in December, according to company reports. "The completion of the construction of the cement plant and the deepwater terminal is proceeding smoothly with a full workforce ready to put the finishing touches to this ambitious project,” said a McInnis spokesperson. Propelled by an increase in the pace of work during the day, night and weekend, a full workforce – up to 1500 on certain d... |
Saudi Arabia: Hail Cement Q4 profits decline 21%17 January 2017, Published under Cement NewsHail Cement Company (HCC) reported a 20.99 per cent decrease in net profit for the 4Q16. HCC achieved SAR23.67m (US$6.31m) net profit in the quarter, falling from SAR29.95m in the 4Q15. Profits fell by 7.95 per cent to SAR104.52m in 2016 compared to SAR113.55m in 2015. The decline in net profits was attributed to lower total sales due to weak demand, despite unrealised investment profits in the shares' portfolio, the company’s statement said. Net profits rose 15.27 per cent to SAR20.12... |
Brazil: Magnesita installs SAP global management system16 January 2017, Published under Cement NewsMagnesita has adopted SAP ERP to unify business management in 17 countries in which it operates. The Brazilian refractory company has 27 facilities in 17 countries on four continents, and has just completed the installation of the SAP business management solution to converge its process systems on to one platform. The Pangea Project, as it was named, considered a global operational platform in a single SAP instance and began in December 2013 with a complete overhaul of the Magnesita ope... |
Oman: Raysut Cement net profits rise in 201616 January 2017, Published under Cement NewsRaysut Cement has reported a 1.02 per cent growth in net profits of OMR21.17m (US$54.98m) for 2016, against OMR20.95m reached in 2015. Total revenue of the company fell by 2.2 per cent to OMR92.59m in 2016, from OMR94.68m in 2015, according to preliminary results posted by the company on the MSM website. The cost of sales of the company edged up by 3.3 per cent to OMR61.13m in 2016, from OMR59.18m in 2015. |
Ethiopia: Mugher Cement switches to coal16 January 2017, Published under Cement NewsThe Mugher cement project has replaced heavy fuel oil with coal at its 5000tpd plant. "The replacement was crucial to increase quality, reduce production delay and supply energy on a regular basis," said Project Manager Engineer, Mehari Alemu. " Apart from this, the new energy source significantly cuts the exaggerated cost for heavy fuel oil." "Currently the enterprise uses imported energy resource, and substitution will be made with local coal soon," added Alemu. |
Kazakhstan: Steppe Cement FY16 results13 January 2017, Published under Cement NewsSteppe Cement Ltd recorded revenue for the year ended 31 December 2016 of KZT17.94bn (US$54.01m), representing an eight per cent drop YoY from KZT19.53bn recorded last year. A sales volume of 1,570,140t of cement was achieved in 2016, a four per cent decline from 1,643,136t reported in the previous year. Average price (ex-VAT) for delivered cement was KZT11,426/t (US$34.4/t) in 2016, a four per cent decrease on 2015. This drop in price was mostly due to competition among local companie... |
Medcem Cameroon’s local shareholder outlines plans13 January 2017, Published under Cement NewsThe Cameroonian part-owner of the country’s newest cement producer, Medcem, has spoken of the ambitions behind his partnership with Turkish investors, Business Cameroon reports. Emmanuel Peughouia is the owner of the Quifeurou group of hardware stores and plans to use this network of outlets to distribute Medcem’s product. Quifeurou has 56 stores in 35 locations in Cameroon, Chad and the Central African Republic. “We are very proud to be the first Cameroonian business to invest in this... |
India: Andani Group to construct new 10Mta clinker plant12 January 2017, Published under Cement NewsAdani Group Chairman, Gautam Adani, has announced that Adani Cementation (ACL) will be the name of a new company to set up a 10Mta clinker plant with an investment of INR55,000m (US$809.1m). Adani Enterprises has already incorporated the new company, which will carry out the cement business in Gujarat. "In the past five years, we have invested INR480,000m in Gujarat," Adani said. Adani Ports, India's largest private port and logistics company, will invest INR167,000m in the next five ... |