Cement News tagged under: corporate
India: Jaiprakash Associates shareholders agree to sale25 October 2016, Published under Cement NewsJaiprakash Associates Ltd (JAL) on Monday said its shareholders have approved the sale of the firm's cement business to Aditya Birla Group's UltraTech Cement. Approval from Competition Commission of India (CCI) has been received and the next step involves seeking approval from the concerned High Court and the final approval from capital markets regulator. Earlier this year, the Aditya Birla Group firm announced acquisition of Jaiprakash Associates' cement plants with a total capacity of 2... |
Spain: Portland Valderrivas quadruples 9M loss25 October 2016, Published under Cement NewsFCC subsidiary Cementos Portland Valderrivas of Spain reported a EUR233.3m loss in the first nine months of 2016, quadrupling its loss noted in 9M15. Revenues stood at EUR429.3m, 1.6 per cent below Jan-Sep 2015, as a result of shrinking markets in Spain and Tunisia, according to the company’s filing with the National Market Commission (CNMV). Cement sales advanced 1.7 per cent, aggregates by 30.8 per cent and mortar by 2.8 per cent, but concrete sales were down 23 per cent. However, EB... |
Peru: Cementos Pacasmayo 3Q16 net income falls 21.7%25 October 2016, Published under Cement NewsCementos Pacasmayo SA's consolidated results for the 3Q16 and nine months (9M16) ended 30 September 2016 recorded cement, concrete and concrete block volumes were down 1.6 per cent, largely due to extraordinary spending in regard to El Niño prevention in 3Q15, says Businesswire. Revenues rose 0.4 per cent to PEN314.2m (US$83.5m), while the consolidated EBITDA of PEN04.5m was up 4.9 per cent. Net income of PEN43.3m, down 21.7 per cent, due to the termination of borrowing cost capitalisatio... |
Mozambique: Metuge cement factory opens25 October 2016, Published under Cement NewsThe Metuge cement factory in the Mozambican province of Cabo Delgado began commercial operations on 21 October following an investment of US$24m, Mozambican news agency AIM reported. At the inauguration the President of Mozambique, Filipe Nyusi, said that the new plant will increase overall cement production in the country by six per cent and by 67.6 per cent in the north of the country. AIM said the new plant will have a cement capacity of 0.25Mta and will promote a brand of cement called... |
India: Emami Cement hopes to add 15-20Mta in 3-5 years25 October 2016, Published under Cement NewsIndia-based Emami Cement has plans to construct new plants that will add 15-20Mta of capacity to its portfolio over the next 3-5 years, as reported by The Times of India. Director of Emami Cement, Aditya Agarwal, said, “We aim to be among the top three players in the cement industry. We expect our cement division's turnover to touch [INR25bn] in 2018-19.” The company, which began operations at its 5.5Mta Chhattisgarh plant in July this year, expects to register revenues of around INR5bn (... |
India: ACC commissions Sindri grinding unit24 October 2016, Published under Cement NewsACC Ltd's 1.35Mta Sindri cement grinding unit in Jharkhand, which is a part of the Jamul Integrated project, has also been commissioned and commercial production has commenced with effect from 22 October 2016. The company's two cement grinding units in Jamul and at Sindri, totalling 2.45Mta, will help strengthen the company's market presence in the eastern region. |
Van Aalst and Heila Cranes sign cooperation and distribution aggreement24 October 2016, Published under Cement NewsAgreement signing between Van Aalst Bulk Handling and Heila Cranes Van Aalst Bulk Handling and Heila Cranes have signed an exclusive cooperation and distribution agreement. Giampiero Traetta, CEO of Heila Cranes, said: “We are delighted to further strengthen our cooperation. In recent years, Heila has invested heavily in improving the manipulators. We reviewed and improved the structure and the control system, giving our product an advanced lead. We consider it important that our ... |
Qalaa Holdings to sell stake in ASEC Algeria Cement24 October 2016, Published under Cement NewsEgypt-based Qalaa Holdings has signed a preliminary agreement to sell its entire 100 per cent stake in ASEC Algeria Cement for some US$60m, according to Reuters. |
Egypt: mixed 9M16 results for Suez and Tourah24 October 2016, Published under Cement NewsSuez Cement reported a net profit of EGP49.6m (US$5.59m) for the first nine months of 2016. For the third quarter the company saw losses of EGP-66.9m, an increase from EGP-63.3m the previous year. Tourah Cement improved its net loss by 50.4 per cent from EGP-107.203 in 9M15 to EGP-53.149m in Jan-Sep 2016, according to a bourse filing. In the third quarter the company reported a 43 per cent fall in net loss to EGP21.3m, compared with EGP37.4m in 3Q15. |
China: Gansu Qilianshan Cement 9M16 net profit up 223%24 October 2016, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd, a subsidiary of Sinoma, reported a net profit hike of 223.3 per cent YoY to CNY204m for the first nine months of 2016. |