Cement News tagged under: corporate
Hail Cement sees 15.3% rise in net profit for 3Q1617 October 2016, Published under Cement NewsHail Cement posted a 15.27 per cent increase in net profit for the 3Q16, according to a bourse filing. The cement company reported a net profit of SAR20.12m (US$5.4m) from SAR17.45m in 3Q15, which was attributed to unrealised investment loss recognised during the same quarter last year. In the first nine months of 2016, net profits slipped 3.3 per cent YoY to SAR80.85m from SAR83.59m. The lower profits were a result of lower total sales as demand fell, competition increased and there was a... |
Uzbekistan: Ahangarancement JSC raises output by 6% in 9M1617 October 2016, Published under Cement NewsBetween January-September 2016 Ahangarancement JSC, the second-largest cement producer in Uzbekistan, increased cement production by six per cent to 1.418Mt, as compared to the same period of last year. The cement producer, which runs a 1.986Mta plant in Ahagaran, Tashkent, saw clinker production for the first nine months of 2016 rise by 3.8 per cent to 1.015Mt. In total, the company supplied 1.424Mt of cement (+6.1 per cent YoY) to customers from the beginning of 2016. In 2015 it incr... |
USA: Elementia intends to buy 55% of Giant Cement14 October 2016, Published under Cement NewsElementia of Mexico, 49 per cent owned by billionaire Carlos Slim, said it had signed a letter of intent to purchase 55 per cent of Giant Cement Holdings Inc, a wholly-owned unit of Cementos Portland Valderrivas of Spain. Currently, Giant has an accumulated debt of approximately EUR437m in a securitised bond issue, says dirigentesdigital. At the same time, Cementos Portland has signed a loan of EUR553m to repay part of its debt, amounting to EUR1114m according to the Spanish source. Ceme... |
Oman: Raysut Cement 3Q profit falls 23%14 October 2016, Published under Cement NewsRaysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015. |
India: OCL in talks to buy Shiva Cement's Orissa plant13 October 2016, Published under Cement NewsShiva Cement is in talks with OCL India among others to sell its integrated cement plant in Orissa, according to the Financial Express. Shiva Cement shares surged as much as 15.68 per cent and hit their fresh 52-week high in morning trade. For the quarter ended 30 June 2016, the company registered a net loss of INR1390m (US$20.7m) against net profit of INR0.430m in the corresponding quarter a year ago. Net sales of the company decreased by 49.67 per cent YoY to INR8150m for the quarter... |
Mexico's GCC sees 32% hike in EBITDA in 3Q1613 October 2016, Published under Cement NewsGrupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV).... |
Qatar National Cement Company profits flat for 9M201613 October 2016, Published under Cement NewsThe Qatar National Cement Company (QNCC) has released its earning statement for the first nine months of 2016, showing that revenues and profits have changed little from the corresponding period in 2015. Profits at QNCC were down one per cent to QAR355m (US$97.6m), while revenues also fell slightly, being down 0.9 per cent to QAR839m. Taken together with previous three-monthly earnings statements, QNCC’s revenues have now fallen for two straight quarters, declining by 3.0 per cent in Q... |
India: Sagar Cement reviews expansion plans13 October 2016, Published under Cement NewsSagar Cement is reportedly convening a meeting of its Board of Directors on 19 October. The meeting will address proposals for setting up a coal-based power plant at the company’s unit in Mattampally, Nalgonda district, and the capacity expansion of the grinding unit in Bayyavaram, Visakhapatnam district. The capacities for the two plants in question were not disclosed in the company’s statement. The company’s 2015-16 annual report states that Sagar plans to acquire a 181,500tpa grinding ... |
Cemex expects to complete Tepeaca expansion in 201813 October 2016, Published under Cement NewsCemex announced the expansion of its Tepeaca plant in Puebla, Mexico, to conclude in 2018. The plant will see the construction of a new kiln to take its production capacity to 7.6Mta. The project was started in December 2014 and represents an investment of US$642m, including fixed asset additions of US$442m incurred at the end of 2015. The expansion will generated 1500 jobs during construction and around 100 direct and 240 indirect jobs when the plant enters service. |
Hima Cement positive for growth prospects in Uganda12 October 2016, Published under Cement NewsUganda's Hima Cement expects the country's cement market to show significant growth going forward. Daniel Pettersson, Hima Cement Ltd country CEO, said, "We are very positive about the long-term prospects of the cement industry in Uganda, and LafargeHolcim is keen to solidify its position in the region as the leading producer of building solutions providing its customers with innovative value adding propositions. "Hima Cement is committed to ensuring sufficient cement capacity to se... |