Cement News tagged under: corporate
Sri Lanka: Tokyo Cement increases profits by 38%22 August 2016, Published under Cement NewsTokyo Cement Plc saw its April-June quarter net profit increase 38 per cent YoY to LKR643.8m (US$4.42m) amid strong top-line gains and better cost management. Group turnover for the quarter rose nine per cent YoY to LKR7.5bn, while cost of sales rose at six per cent, allowing the group to post a gross profit of LKR1.8bn, up 20 per cent YoY. The group was able to keep its operational costs in check as distribution and administrative costs increased only two and four per cent YoY, ... |
Pakistan: Gharibwal Cement to increase its capacity22 August 2016, Published under Cement NewsGharibwal Cement (GWLC) has announced plans to expand its clinker capacity by 8000tpd, translating into 2.4Mta. Along with the brown field expansion, the company will also install a waste heat recovery system and a new cement mill for this purpose. Work on this project will start during the current fiscal year. GWLC has also announced a contract to install vertical grinding mill with a capacity of 250tph, which will increase cement grinding capacity substantially a as well as raise effic... |
Uganda: residents decry lack of consultation over mining licence award22 August 2016, Published under Cement NewsResidents of Moroto district have accused Uganda’s Ministry of Energy and Mineral Development of acting illegally in awarding a mining licence to Tororo Cement without first consulting local communities, the Daily Monitor reports. Local people have protested against Tororo’s limestone mining operations in Kosiroi by blocking trucks from entering or leaving the site. They accuse the company of having operated for 15 years without signing a memorandum of understanding (MoU) with their commu... |
Fujairah Cement approves Sohar Cement venture22 August 2016, Published under Cement NewsThe Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital. |
Kenya: dispute over stalled cement plant22 August 2016, Published under Cement NewsLocal politicians in Kenya’s West Pokot county have clashed over delays which have seen the construction of a proposed cement plant make little progress for years, the Daily Nation reports. Despite being announced a decade ago, building has yet to begin and local politicians appear split over whether to invite in new investors. The originators of the project, India’s Sanghi Group, retain the support of the local governor, while the county’s senator, John Lonyangapuo, has approached Desk G... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
China: Taiwan Cement expects 2H16 pick up in demand19 August 2016, Published under Cement NewsCement sales in China will pick up in the second half of the year, on the back of a recovering demand from infrastructure projects and residential building in the country, according to Taiwan Cement Corp. “We saw strong infrastructure spending in China supported cement demand in the first half, which is expected to continue growing for the rest of the year,” Taiwan Cement Senior Vice President, Edward Huang, told an investors’ conference in Taipei. In the first half of this year, the com... |
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal18 August 2016, Published under Cement NewsHeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man... |
Dalmia quarterly results18 August 2016, Published under Cement NewsDalmia Bharat announced its unaudited consolidated financial results for the quarter ended 30 June 2016. Dalmia performed well in the period, achieved through a focus on branding, customer centricity and cost optimisation. The company reported that it achieved an EBITDA margin of 29 per cent and its sales volume increased 22 per cent YoY. It also worked towards expanding its sustainable footprint, with non-fossil fuel usage reaching 83 per cent. Operational efficiency was also aided by op... |
Sagar Cement to invest US$22m in new capacity18 August 2016, Published under Cement NewsIndia-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha”. ... |