Cement News tagged under: corporate
Cemento Polpaico net profits quadruple YoY in 9M1622 November 2016, Published under Cement NewsChile’s Cemento Polpaico saw its revenues decrease by 1.14 per cent to CLP108,669.55m in January-September 2016 from CLP 108,927.811m. However, net profits during the first nine months of 2016 more than quadrupled from CLP816.866m in 9M2015 to CLP4153.866m when compared with the 9M16. The company noted a significant fall in finance costs as well as higher financial revenues. |
Arabian Cement to start Rabigh grinding unit operations in 4Q1722 November 2016, Published under Cement NewsArabian Cement Co reported construction at its Rabigh grinding facility is ongoing. However, in a bourse filing the company said it expected commercial operations at the unit to start in 4Q17. |
India Cements profit up 62%21 November 2016, Published under Cement NewsFor the quarter ended 30 September 2016, India Cements Ltd (ICL) reported a 62 per cent increase in standalone net profit to INR624m (US$9.17m) compared to 38.5 in the same period last year. Total standalone net income rose 6.9 per cent to INR13.14bn in the period under review, up from INR12.29bn the previous year. Total expenses were 7.9 per cent higher at INR11.35bn in the period. Meanwhile, the Competition Commission of India (CCI) has imposed a fresh penalty of INR1.87bn on the compan... |
GCC acquires multiple Cemex operations21 November 2016, Published under Cement NewsGCC has announced the acquisition of multiple Cemex operations in the USA. The acquisition comprises a cement plant (Odessa, Texas), two cement terminals (El Paso and Amarillo, Texas) and one construction materials business located in El Paso, Texas, and Las Cruces, New Mexico, comprised of eight ready mix plants, six aggregate plants, five asphalt plants and five distribution centres. The acquisitions will see GCC’s workforce increase to nearly 3500 employees. No operational closures ... |
Pakistan: DG Khan and Maple Leaf projects on target21 November 2016, Published under Cement NewsWork on DG Khan Cement Co's US$300m Hub cement plant in Balochistan, Pakistan, is progressing well. The 9000tpd works is expected to receive major shipment between October 2016 and April 2017. Commissioning is scheduled for FY2018. Meanwhile, Maple Leaf Cement Factory's 7000tpd grey clinker plant has received approval from its Board. The PKR20bn facility is due to start commercial operations by December 2018. In addition, Maple Leaf has also established Maple Leaf Power Ltd, a wholly-... |
Cimpor hit by the weakness in volumes and currencies18 November 2016, Published under Cement NewsCimpor's nine-month turnover fell by 28.5 per cent to EUR1379.4m and EBITDA dropped by 33.1 per cent to EUR264.6m as cement deliveries in Portugal, Brazil and Argentina declined by 35.7 per cent, 19.8 per cent and 11.7 per cent, respectively, with single-digit reductions being seen in South Africa and Egypt. Mozambique saw shipments improve by 11.2 per cent and Paraguay by 10.8 per cent. A trading loss of EUR332.3m was declared compared with a trading profit (EBIT) of EUR248.5m a year ear... |
LafargeHolcim adjusts medium-term targets18 November 2016, Published under Cement NewsLafargeHolcim has adjusted its medium-term group targets, according to the group’s 2016 Capital Markets Day statement. In the last 12 months, the company reached net sales of CHF27.8bn and sold 244Mt of cement, 289Mt of aggregates and 56Mm3 of ready-mix concrete. LafargeHolcim has identified and initiated CHF200m of additional cost savings, which enables it to upgrade its 2018 adjusted operating EBITDA target to CHF7bn. his translates into a 2018 run rate operating free cash flow range... |
Kenya: Savannah Cement to raise capacity to 2.4Mta18 November 2016, Published under Cement NewsSavannah Cement has unveiled plans to increase its Athi River plant to 2.4Mta, almost doubling its current 1.5Mta capacity, Business Daily Africa reports. The firm says it expects the new capacity to come online by mid-2018, with the tendering process to begin in early 2017 as soon as regulatory clearance is received. The project will see the creation of a new grinding and packaging plant. Kenyan cement consumption has risen rapidly in recent years and the country’s producers have resp... |
Consolidation needed in South African market claims PPC chief18 November 2016, Published under Cement NewsDarryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be... |
Kenya: East African Portland Cement to lay off two-thirds of workforce18 November 2016, Published under Cement NewsIn a restructuring plan unveiled this week, East African Portland Cement (EAPC) has said it will lay off more than 1000 of its more than 1500 workers, reducing the firm’s headcount to just 500, the Daily Nation reports. “We are overly overstaffed with our employee numbers at over 1500 and close to 2000. By benchmarking with the rest of the industry we need only 500,” said Bill Lay, EAPC’s chairman. The company, which made an operational loss of KES1.6bn (US$15.7m) in the last financial... |