Cement News tagged under: corporate
Tanzania: Tanga Cement seeks to cut costs as profits fall17 May 2016, Published under Cement NewsTanga Cement has said that it will concentrate on cutting costs in an effort to counteract falling revenues, the Citizen reports. The company, whose profit fell to TZS8.24bn (US$3.8m) in 2015, held its annual general meeting this week. Speaking at the event, Board Chairman, Lau Masha, said: "Improving operational efficiency and containing production costs continues to be a major focus for the company... we have spent a lot of money in the last few years so as to ultimately reduce costs an... |
Brazil: Magnesita 1Q16 income17 May 2016, Published under Cement NewsMagnesita Refratários SA announced a net income of US$22.7m between January and March of 2016. The publicly-traded Brazilian Corporation focusses on mining and the production and sale of refractory materials and industrial minerals. Magnesita’s EBITDA reached US$39.1m in 1Q16 with a 16.9 per cent margin, while the registered net revenue for the period was US$234m. CEO of Magnesita, Octavio Pereira Lopes, emphasised that despite the economic deterioration in Brazil and the excess of ste... |
Rizkan Chandra new Semen Indonesia President Director17 May 2016, Published under Cement NewsSemen Indonesia's Board has elected Rizkan Chandra as new President Director at its Annual General Director. The current term of his appointment runs until 2020. Mr Chandra was born in Jakarta on 27 January 1969. He majored in Informatics Engineering ITB and obtained his masters in Management of Technology at the National University of Singapore. He previously served as Director of PT Semen Indonesia (Persero) Tbk, Director of Network, IT& Solution PT Telekomunikasi Indonesia (Persero... |
Barbados: Arawak reports improved performance16 May 2016, Published under Cement NewsArawak Cement Co Ltd of St Lucy, Barbados, announced a turnaround in its finances in 2015. While it did not release any hard data, it described 2015 as a “very encouraging” year. The company reported improved operational efficiencies and a 20 per cent rise in exports when compared with 2014. Chairman Arun Goyal said the improved performance resulted from strategic initiatives and “an adherence to the core objectives of sustainability and competitiveness as our driving force”. Last Octo... |
Zimbabwe: Sino Zimbabwe sales decline16 May 2016, Published under Cement NewsSales for Sino Zimbabwe Cement Company (SZCC) have declined by 15 per cent in the first quarter, in comparison with the same period last year. A further decline in sales this quarter has been projected by the company, which has cited a difficult operating environment and liquidity problems as some of the reasons for the decline. Wang Yong, SZCC managing director, said that the situation had been worsened by the smuggling of cheaper cement, mainly from South Africa. He also said a poor agr... |
Semen Indonesia to invest US$2.2bn over next five years16 May 2016, Published under Cement NewsSemen Indonesia President Director, Rizkan Chandra, has announced that his company is to invest IDR30tn (US$2.2bn) over the next five years. The funding will be split between existing operations, entry into new markets and downstream acquisitions. According to reports on Deal Street Asia, Semen Indonesia is looking to acquire majority interests in ready-mix and precast businesses. The firm is also planning to expand further afield and is considering its options in four countries, includin... |
Zimbabwe: Dangote investment16 May 2016, Published under Cement NewsNigerian billionaire Aliko Dangote has said he will not rescind on the decision to invest in Zimbabwe, despite negative reports concerning the country’s economy. Mr Dangote said in an interview that he currently has a team in Zimbabwe finalising logistics and making preparations to begin operations. His conglomerate intends to set up a cement manufacturing plant capable of producing 1.5Mt per year, whilst also investing in power generation and coal mining. Mr Dangote has already secured th... |
Bolivia: Yacuses expected to produce cement in December16 May 2016, Published under Cement NewsWork on the 0.87Mta Yacuses cement plant, owned by Itacamba Cemento, in the Germán Busch province of Bolivia, 590km from Santa Cruz, has been completed by 70 per cent, according to the latest reports in the local press. First clinker is expected to be produced in November, with first cement leaving the production line in December. Equipment for the US$220m works was delivered by China-based Tianjin Cement Industry Design & Research Institute. |
Cementos Argos reports 1Q16 EBITDA up 38%13 May 2016, Published under Cement NewsCementos Argos reports that 1Q16 volumes across all regional divisions represent healthy dynamics in all the markets where the company is present, especially in the US, where cement dispatches increased 47 per cent. For the 1Q16, cement volume increased 6.4 per cent to 3.5Mt. Ready-mix sales reached 2.8Mm 3 , an increase of 10.5 per cent. “The obtained results augur us a good performance for the 2016 and confirm us that the geographic diversification, expansion and consolidation of our bu... |
Negative order intake of EUR1.1m for KHD in 1Q1613 May 2016, Published under Cement NewsOrder intake in the first quarter of 2016 was negative at EUR-1.1m. This is due to the low level of new business (EUR12.8m), order cancellations and reductions (EUR-9.1m) the company stated as well as the effects of currency exchange rates on the order backlog. Some markets, where KHD is well-positioned will see continued growth. This includes in particular India, where cement demand is expected to grow by 6.8 per cent per annum through 2020. Pricing for the projects that will be awarded... |