Cement News tagged under: corporate
China Resources Jan-Sep net profit declines 35%21 October 2016, Published under Cement NewsChina Resources Cement reported a 35 per cent fall in net profit for the first nine months of 2016 as weaker revenues impacted profits of the Hong Kong-listed cement producer. Net profit in Jan-Sep declined to HKD838.3m (US$108m) from HKD1.28bn in 9M15. Revenues saw a 12 per cent drop to HKD17.48bn. For the three months ended September, the company posted a net profit of HKD580.8m, considerably improving on last year’s third-quarter net loss of HKD248m. |
Indonesia: new Indocement plant commissioned21 October 2016, Published under Cement NewsIndonesia’s Minister of Industry, Erlangga Hartarto has commissioned a new cement plant of PT Indocement Tunggal Prakarsa Tbk in Cileungsi, Bogor District, West Java. "The government appreciates the use of high technology in the new factory, with an annual production capacity of 4.4Mt,” the minister said. The unit represents an investment of IDR5.6tn, a reflection of the country’s attractiveness to investors, he added. Mr Erlangga said Indonesia produces 60Mta of cement with an insta... |
HeidelbergCement appoints new Board of Directors for Italcementi21 October 2016, Published under Cement NewsThe HeidelbergCement 19 October shareholder meeting establisheda new Board of Directors for Italcementi. The new members are Luca Sabelli (chairman), Dominik von Achten (executive vice president), Lorenz Näger (executive vice president) and Roberto Callieri (CEO). HeidelbergCement purchased the remaining Italcementi shares that had not been tendered in the mandatory tender offer on 12 October. Therefore, HeidelbergCement is now the sole shareholder of Italcementi and owns 100 per cent of... |
Saudi Arabia: Eastern Province and Tabuk Cement see fall in 3Q16 profits21 October 2016, Published under Cement NewsEastern Province Cement Co and Tabuk Cement are the latest Saudi cement producers to post a fall in third-quarter profits amid lower sales and higher production costs. Eastern Province Cement Co posted a 35.8 per cent YoY decrease in net profits from SAR67m in 3Q15 to SAR43m in 3Q16. In the first nine months of 2016 the cement producer reported net profits of SAR180m, representing a 26.2 per cent fall when compared with the SAR244m net profit in 9M15. The downward trend in profits has bee... |
Myanmar: June Cement project to continue despite local opposition21 October 2016, Published under Cement NewsThe management of June Cement has said that the firm has no plans to return land to local communities and will instead press on with its project to construct a new plant in Kyaikmayaw township in the southeast of the country, reports Burma News International. “We still need the land to construct the factory. We bought the land for the project at the beginning and received permission. So, to speak frankly, it is not possible that we will give back the land since we have to continue the pro... |
Argos Honduras to add capacity at San Lorenzo20 October 2016, Published under Cement NewsColombia’s Cementos Argos has announced plans to construct a new cement plant in San Lorenzo, Valle, southern Honduras. The project represents an investment of US$25m. “Argos will consolidate its presence in the country with this operation. The grinding capacity of San Lorenzo is 300,000tpa and we will manufacture grey cement, with major emphasis on general use,” said Harry Abuchaibe, Argos director for Honduras. The San Lorenzo plant, formerly known as Grinding Station CeSur, was acq... |
India: JSW Cement to go public by FY1920 October 2016, Published under Cement NewsParth Jindal, managing director of JSW Cement, has told the Deccan Herald newspaper that his company will issue its first public shares when it reaches 20Mta capacity. “We will go for IPO once we reach a capacity of 20Mt. Right now, we have a production capacity of 7Mt, and plan to reach 30m by 2020. “JSW Cement would like to achieve 17m capacity by opening up eight grinding units across the country. This will require an investment of INR27bn [US$405m]. “The company can achieve the... |
CIMAF to open third plant in Cote D’Ivoire20 October 2016, Published under Cement NewsCiments de L’Afrique (CIMAF) has announced it will establish a third cement plant in Côte d’Ivoire, raising its capacity in the West African country to 2.3Mta by 2017. The new grinding plant will have a capacity of 350,000tpa and will be located at Bouaké in the north of the country. The project, representing an investment of XOF12bn (US$20.1m), will allow the company to improve availability of its cement in the domestic market. CIMAF expanded its Abidjan grinding works to 1Mta i... |
Saudi Arabia: Northern Cement sees 43% profit fall in 3Q1620 October 2016, Published under Cement NewsNorthern Region Cement Co reported a 42.83 per cent decline in net profits to SAR30.09m (US$8m) in 3Q16 from SAR52.64m a year earlier. Profits also decreased 38.16 per cent QoQ, according to the company's statement to the Tadawul. The decrease in profits has been attributed to lower sales following a weaker domestic demand amid the Hadj season and summer holidays, complemented by a rise in costs as fuel prices rose. |
Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits19 October 2016, Published under Cement NewsMore Saudi cement producers have reported a fall in profits for the third quarter of 2016. The decline in profits were attributed to lower sales and a drop in average selling prices as competition intensified amid weaker demand. Higher oil prices have also been cited as a major factor in the decrease. Yanbu Cement company recorded a 35.9 per cent drop in profits during the period from SAR145m (US$38.7m) in 3Q15 to SAR93m (US$24.8m), according to a bourse filing. Profits also fell QoQ, by ... |