Cement News tagged under: corporate
McInnis Cement breaks ground on US cement terminal10 August 2016, Published under Cement NewsMcInnis Cement officially broke ground at the new cement company's first US terminal in the Port of Providence. The overall cost of the project is expected to reach US$22m when completed by year-end. Construction will begin shortly on the existing ProvPort warehouse, which will be transformed into a world-class receiving and storing facility. McInnis Cement will also build a modern rail and truck station for loading purposes. “We are proud to commence construction of our first terminal in ... |
India: Prism Cement returns to profit for 1QFY16-1710 August 2016, Published under Cement NewsPrism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9 per cent to INR13.5bn (US$202m). Looking to the future, the company said: "While the near term d... |
Indonesia: Indocement cuts production by 1Mt10 August 2016, Published under Cement NewsPT Indocement Tunggal TBK will cease operations at two production lines at its Citeureup plant due to the national cement excess, resulting in a 1Mta drop in output levels. The fall in cement sales in the country resulted in Indocement seeing its domestic sales volume drop 3.7 per cent to 7.9Mt QoQ in 2Q16. However, exports for the company increased by 190,000t when compared to the same period last year. President Director of Indocement, Christian Kartawijaya, said, “we supply a lot of pr... |
India: UltraTech’s plan for Bokaro plant moves forward10 August 2016, Published under Cement NewsUltraTech Cement’s project to build a new 1.5Mta plant at Bokaro in Jharkhand has moved a step closer to realisation after the district authorities gave it their support, the Times of India reports. Rai Mahimapat Ray, managing director of the Bokaro Industrial Area Development Authority, said: "We discussed the additional land requirements for a railway siding, levelling of the allotted 50-acre plot, availability of slag and other raw materials locally and formalities for environmental cl... |
Nigeria: Dangote Cement to switch to using coal09 August 2016, Published under Cement NewsDangote Cement has announced plans to begin its own coal mining operations as it switches away from gas as a means for powering its plants. The company will begin producing coal at the Ankpa mines in Kogi State from 4Q16. Previously, Dangote had used natural gas as a fuel for its plants, but interruptions to supply and the revaluation of the naira have caused the company to seek alternatives. Group CEO Onne van der Weijde stated: "We decided two to three years ago to diversify and re-r... |
China: Asia Cement reports 1H16 loss09 August 2016, Published under Cement NewsAsia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports. In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m). The fall in profitability was attributed to lower prices and increased costs in servicing US dollar-denominated debts. |
Saudi Arabia: cement firms come under pressure09 August 2016, Published under Cement NewsSaudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southern Province Cement were the top performers in 2Q16. Saudi Cement revenue was up 11 per cent YoY, whi... |
LafargeHolcim India head joins Executive Committee09 August 2016, Published under Cement NewsLafargeHolcim made the decision to induct Head of LafargeHolcim India, Martin Kreigner, into the Executive Committee of the group, giving him additional responsibilities in southeast Asia. Mr Kreigner will be based out of Mumbai. These recent changes to the executive committee reflect the group and its portfolio’s evolution following divestments and integration, LafargeHolcim said in in a statement. The restructuring of operations reveals the growing importance of Indian business. Lafa... |
India: Mangalam Cement returns to profit with 1QFY16-17 results08 August 2016, Published under Cement NewsMangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16. In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year. Total revenues were up by 5.5 per cent to INR2.25bn (US$33.7m), while expenses were down by 17 per cent to INR1.86bn (US$27.9m). |
India: JK Cement quarterly results08 August 2016, Published under Cement NewsCompared to its performance in the corresponding quarter last year, JK Cement Ltd reported significant growth in both net profit and net sales. The company reported a standalone net profit of INR608.5m (US$9.1m)for the quarter ended 30 June 2016, in comparison to just INR10.5m (US$157,275) last year according to a BSE filing made by JK Cement. The company’s net sales increased to INR8.87bn (US$132.8m). JK Cement is the second-largest manufacturer of white cement in India, with a capaci... |