Cement News tagged under: corporate
Cherat Cement posts FY16 results, plans second line26 August 2016, Published under Cement NewsPakistan's Cherat Cement Company Ltd (CHCC) has announced its FY16 results, which saw the company reporting a profit after taxation of PKR1.405bn (US$13.4m) compared to PKR1.288bn in last corresponding financial year, an increase of nine per cent. According to a company statement to the Pakistan Stock Exchange (PSX), its net sales increased by eight per cent to PKR7079bn whereas the cost of sales decreased by three per cent to PKR4.445bn. Moreover, the company also declared a final cas... |
Kenya: Bamburi reports KES4.27bn profit26 August 2016, Published under Cement NewsFor the 1H16 Bamburi Cement Ltd reported a pre-tax profit of KES4.27bn (US$42.12m), compared to KES4.5bn achieved in 1H15. Turnover for the six months stood at KES19.11bn (US$188.5m) versus KES19.32bn for the same period last year. |
Belarusian Cement to merge with Minsk Silicate Materials26 August 2016, Published under Cement NewsBelarusian Cement Plant, located in the Kostiukovichi Mogilev region, is set to incorporate OAO Minsk Silicate Materials Plant. The merger is due to be finalised by December 2016. The Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares valued at BYN10 (US$4.97) each. These will be transferred to the state, expanding the state-owned stake in the cement company from 99.45 to 99.46 per cent. |
CRH more than doubles EBITDA to EUR1.12bn in 1H1625 August 2016, Published under Cement NewsCRH plc announces that its 1H16 sales increased by 35 per cent to EUR12.7bn and EBITDA more than doubled on the same period a year ago to EUR1.12bn. Building material sales rose on a proforma basis by eight per cent on 2015, including an increase of 13 per cent in the Americas, three per cent up in Europe and four per cent ahead in Asia. After depreciation and amortisation charges of EUR532m (1H15: EUR366m), first-half operating profit amounted to EUR588m (1H15: EUR189m). Americas Ce... |
Aalborg Portland close to sealing Belgian acquisition25 August 2016, Published under Cement NewsDanish cement company Aalborg Portland has acquired Belgian cement company Compagnie des Ciments Belges (CCB) for DKK2.30bn (US$349.81m). The acquisition increases Aalborg Portland's operations by 20 per cent and boosts its turnover from DKK6.5bn posted in 2015 to over DKK8bn. Henning Brook, CFO at Aalborg Portland, states that the acquisition will only marginally affect the financial report for 2016, but that the acquisition is still pending approval from European competition authori... |
Bolivia: Soboce receives new kiln25 August 2016, Published under Cement NewsBolivian cement company Sociedad Boliviana de Cemento (Soboce) has received a vertical kiln, the first to will installed in Bolivia, as part of Illimani LP12 project. An FLSmidth OK 36-4 mill will also be fitted into the firm's Viacha factory. The plant currently produces over 0.9Mta of cement but will see a capacity raise by 136 per cent to 2Mta. The project is 45 per cent complete and represents a total investment of over BOB550m (US$80.17m). The new equipment will be in use by the 2H... |
Pakistan: Cherat Cement sees FY1516 profits rise 9%25 August 2016, Published under Cement NewsCherat Cement Company has reported a rise in net profits of 9.1 per cent for the year ending June 30, 2016, Pakistan's The News reports. Profits reached PKR1.4bn (US$13.3m) on sales revenues of PKR7.1bn – the latter up by 7.8 per cent. Faizan Ahmed of JS Global said that the rise was drive by stronger sales and falling energy prices, stating: “Most of the increase in dispatches was led by local dispatches as exports continued to wither throughout in FY16. This shift has resulted into high... |
Cemex to commission new 1Mta Colombian plant in December24 August 2016, Published under Cement NewsCemex expects to bring its new cement plant in Maceo, Antioquia, Colombia online at the end of this year, according to Carlos Jacks, president of the Mexico-based cement producer. The new works will have a capacity of 1Mta and represents an investment of US$360m. The project also includes the construction of a 40km-long concrete access road which connects the works to the motorway system. |
Egypt: South Valley profits up 33%24 August 2016, Published under Cement NewsSouth Valley Cement announced a net profit increase of 33 per cent for the 1Q16. A net profit of EGP42.85m (US$4.82m) was registered in the quarter compared to EGP32.35m for the same quarter in the previous year. Revenues for the company reached EGP254.82m (US$28.7m) in 1Q16, a YoY increase of 14.3 per cent compared to EGP223m for 1Q15. |
Argos Board approves sale 20% stake in Argos Panamá24 August 2016, Published under Cement NewsThe Board of Cementos Argos has approved the sale of 20 per cent of shares of Argos Panama for the sum of US$126m. Buyer is the Grupo Provivienda, controlled by Federico Salazar, a Colombian-Panamanian investor. The company is part of the Grupo Cusecar, which has 22 years of experience in the construction sector in Panama and Central America. The sale is part of Cementos Argos’ plan to raise funds for the financing of the Martinsburg plant in the US by a divestment of US$350m. |