Cement News tagged under: corporate
HeidelbergCement India sees revenue rise by 7.2%25 July 2016, Published under Cement NewsIn its earnings statement for 1QFY16-17, HeidelbergCement India reported that its revenues rose by 7.2 per cent YoY, while net profits rose from INR34.4m (US$0.5m) to INR262.6m (US$3.9m). According to reports in Mint, the company has benefitted from lower fuel and electricity prices as well as rising demand. While revenues exceeded market expectations, operating profits were below forecast. Buoyant demand will help to sustain revenues, but high capacity utilisation of around 80-85 per ... |
Saudi Arabia: Najran Cement reports lower 2Q16 profits25 July 2016, Published under Cement NewsNajran Cement in Saudi Arabia has announced lower earnings during the second quarter of 2016, according to a bourse filing. Earnings fell 56.8 per cent YoY to SAR33.6m (US$8.96m) from SAR77.83m due to lower sales volumes. The gains made by an increase in average sales prices and a fall in selling and distribution expenses were offset by a slowdown of building and higher energy prices. In the first half of 2016, Najran Cement earned SAR94.69m, representing a 44.2 per cent decrease YoY f... |
Titan Cement brings 0.2Mta plant online in Uzbekistan25 July 2016, Published under Cement NewsTitan Cement has commenced production at a new cement works in Karauzyak, Karakalpakstan in Uzbekistan. The 0.2Mta plant represents an investment of UZS10.6bn and is expected to employ 200. |
EBRD postpones its decision on 20% stake in Holcim Azerbaijan22 July 2016, Published under Cement NewsThe European Bank for Reconstruction & Development's (EBRD) Board of Directors has postponed the pending decision on raising the bank’s stake in the equity capital of Holcim (Azerbaijan) OJSC up to 20 per cent but retains plans to double its participation in the cement producer. "Now the consideration of this matter is scheduled for 7 September 2016," said the EBRD. Previously, the matter was expected to be considered on 20 July by the Board of Directors. The bank aspires to continue ... |
UK: Breedon to complete Hope acquisition in August, 1H16 results22 July 2016, Published under Cement NewsFollowing the conclusion of the Competition & Markets Authority's (CMA) review, Breedon Aggregates expect to complete the acquisition of Hope Construction Materials Limited (Hope) on 1 August 2016 (subject to final clearance from the CMA). On completion, the enlarged group will be renamed Breedon Group plc, subject to approval by its shareholders at an Extraordinary General Meeting on 21 July 2016. The trading name of the enlarged group will simultaneously change from ‘Breedon Aggregates’... |
Egypt: Suez Cement 1H16 sales up 6%22 July 2016, Published under Cement NewsSuez Cement Group of Companies (SCGC) 1H16 results showed that growth slowed in 2Q16, due to lower demand during the holy month of Ramadan and June. However, overall, the domestic cement industry grew 7.6 per cent in 1H16 versus 1H15. Cement prices continued to improve, following 1Q16 trends to jump four per cent during April, May and June. That being said, prices were still three per cent lower between Jan-Jun 2016 compared to 1H15. Group sales volumes increased six per cent across t... |
Peru: Cementos Pacasmayo 2Q16 revenues up 9%22 July 2016, Published under Cement NewsCementos Pacasmayo SAA has announced its consolidated results for the 2Q16, stating that volumes of cement, concrete and blocks rose 4.8 per cent during the period and revenues increased 9.1 per cent to PEN301.7m (US$90.6m). Consolidated EBITDA of PEN93.1m (US$27.9m) was up 15.7 per cent, excluding PEN8.8m non-operating income booked in 2Q15. However, when including this income, EBITDA was up 4.3 per cent. Net income of PEN31.3m was down 18.9 per cent excluding non-operating income booked... |
Ghana: Dangote Cement takes delivery of 1000 trucks22 July 2016, Published under Cement NewsDangote Cement Ghana has received delivery of a fleet of 1000 trucks as part of its plan to expand its distribution network in the country, Star FM reports. The firm states that the purchase is the largest of its kind by any Ghanaian company and will create up to 5000 direct and indirect jobs. Managing Director of Dangote Cement Ghana, Tor Nygard, said of the vehicles: “These are components of the Company’s mission in Ghana which is to stimulate its economy and get quality cement to al... |
LafargeHolcim receives go-ahead for Indian streamlining21 July 2016, Published under Cement NewsIndia’s Cabinet Committee on Economic Affairs has given its blessing to LafargeHolcim’s proposals to simplify the structure of its remaining operations in the country. The company is now awaiting the formal sign-off of the Foreign Investment Promotion Board, but this is expected shortly. Under the proposals, LafargeHolcim will increase its stake in Ambuja to 61.14 per cent, while Ambuja itself will take a 50.05 per cent stake in ACC. Thus, ACC will become a subsidiary of Ambuja, which its... |
Uzbekistan: Akhangarancement output up 5.3% in 1H201621 July 2016, Published under Cement NewsAkhangarancement has announced that its cement output rose by 5.3 per cent YoY to 918,800t in the first half of 2016, according to reports from the Trend news agency. Sales also rose by a similar amount, reaching 920,825t in 1H2016 – an increase of 5.1 per cent – while clinker output grew more quickly, rising by 11.7 per cent to 662,295t. In addition to producing for the domestic market, Akhangarancement exports to Kazakhstan, Kyrgyzstan and Turkmenistan. |