Cement News tagged under: corporate
Pakistan: DG Khan sees profit up 15%, expands capacity by a further 2.2Mta01 September 2016, Published under Cement NewsPakistan cement producer DK Khan Cement Co announced a 15 per cent YoY rise to PKR8.79bn (US$83.9m) in its profit after tax in FY16 from PKR7.624bn in FY15. Its sales rose to PKR29.703bn from PKR26.104bn in FY15bn and cost of sale increased PKR17.035bn from PKR16.649bn in the same period. Along with financial results, the company also announced a full and final cash dividend of PKR6.0/share, making the payout to 30 per cent. The company also announced a brownfield cement capacity expans... |
Holcim Philippines appoints COO01 September 2016, Published under Cement NewsHolcim Philippines announced Thursday that its board has appointed Sapna Sood as Chief Operating Officer (COO), effective 1 November 2016. Ms Sood previously acted as Group Head of Health and Safety at LafargeHolcim and held the position of Head of Helium in the Asia-Pacific region for Linde Group. The appointment comes as part of the preparations for CEO Eduardo Sahagun’s retirement on 19 April 2017. Mr Sahagun will relinquish his duties as CEO in November, but remain acting President un... |
Dangote exports Ethiopian cement to Kenya31 August 2016, Published under Cement NewsKenya's cement market is now being supplied with cement from a new source as Dangote has started exports from its 2.5Mta Ethiopian plant to the east African country. Industry sources said the majority of the exports are destined for road construction projects in the north of Kenya. The step is expected to drive down prices in a market that has seen virtually no price changes in the past decade. Dangote said that the cement exported to Kenya is priced at around KES7400 (US$74)/t or up ... |
Sweden: Swerock to acquire HeidelbergCement operations in Western Götaland31 August 2016, Published under Cement NewsSwerock AB has signed a deal with HeidelbergCement Northern Europe to acquire the latter’s gravel and rock operations. The two companies have signed a letter of intent and are expected to reach a more comprehensive agreement on 1 September 2016. The HeidelbergCement assets affected by this deal generated revenues of SEK110m (US$13m) in 2015. |
LSR sees 10% rise in 1H16 sales but 22% drop in EBITDA31 August 2016, Published under Cement NewsRussia’s LSR Group reported a 10 per cent increase in sales in 1H16 to RUB31.618bn. However, EBITDA fell by 22 per cent to RUB4.486bn and the company’s EBITDA margin stood at 14 per cent. Profit for the period decreased by 72 per cent to RUB1.1bn. The company’s net debt/EBITDA ratio was 1.09, according to a company press release. Andrey Mochanov, CEO and chairman of the Executive Committee of LSR Group, said: “The first half of 2016 brought many positive changes for us. The real estate mar... |
Cemex re-organises its Cementos Chihuahua investments30 August 2016, Published under Cement NewsGrupo Cementos de Chihuahua’s ownership is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations registering a 4.2 per cent improvement to US$235.4m, while the Mexican activities registered a 13.3 p... |
Indonesia: Chinese plant begins production in West Papua30 August 2016, Published under Cement NewsA new cement plant funded by China’s State Development and Investment Corporation (SDIC) has begun operations in the Indonesian state of West Papua, China Daily reports. The 1.5Mta plant was designed by Anhui Conch and forms part of SDIC’s wider investment strategy in Indonesia. The plant was built at a cost of CNY2.2bn (US$329m) over a 16-month period. Li Bing, vice president of SDIC, said: "Restrained by weak industrial and logistics foundations in certain parts of Southeast Asia, ma... |
China: Socam to sell part of its stake in Nanjing Jiangnan Cement30 August 2016, Published under Cement NewsSocam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date. |
Egypt: Sinai Cement returns to profit30 August 2016, Published under Cement NewsSinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports. Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015. |
India Cements to develop Coromandel limestone26 August 2016, Published under Cement NewsIndia Cements has proposed the development of the Coromandel limestone mine in Chilamkur and Kalamalla, Mandal Yerraguntla, Andhra Pradesh. The project represents an investment of INR1650m (US$24.6m), including the cost of the land. The 413ha site would yield around 3Mta of limestone, which the company would use for captive consumption at a new 2Mta greenfield clinker plant, located next to an existing plant at Chilamkur. The limestone will be excavated by conventional opencast mechanised... |