Cement News tagged under: corporate
Ukraine: Yugcement reports 1Q16 losses of US$11.75m22 April 2016, Published under Cement NewsThe Yugcement company (Olshanske, Mykolaiv region) reported loss of UAH298.228m (US$11.75m) for 2015, having upped its net revenue by 14.8 per cent or UAH 80.84m YoY to UAH626.167m. As of 2015, assets of the company made up UAH833.98m, current liabilities UAH162.838m and accounts receivable UAH21.336m. Yugcement cement is a part of the Dyckerhoff Ukraine company managing three plants for cement production and packaging in Ukraine. |
Cemex's 1Q16 net sales increase 3%21 April 2016, Published under Cement NewsCemex has announced that its consolidated net sales reached US$3.2bn during the first quarter of 2016, an increase of three per cent on a like-for-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2015. Operating EBITDA increased 12 per cent on a like-to-like basis during the quarter to US$583m versus the same period in 2015. Net sales in Mexico decreased 17 per cent in 1Q16 to US$633m, compared with US$766m in the first quarter o... |
Saudi Arabia: Yamama and EPPCO announce profits, Saudi Cement rebrands21 April 2016, Published under Cement NewsYamama Cement and Eastern Province Cement Company have announced their first quarter earnings for 2016 with mixed results. Yamama, the larger of the two, saw its profits fall by 14 per cent YoY in 1Q2016, to US$40m. Yamama put this down to rising fuel prices, overuse of fixed assets, a rise in general and administrative expenses and investment losses. Eastern Province Cement Company reported that its 1Q2016 profits were up 3.5 per cent YoY. It attributes this growth down to a turnaroun... |
USA: Cemex fined US$400,000 over negligence at Kosmos Cement21 April 2016, Published under Cement NewsCemex-owned Kosmos Cement has pleaded guilty to negligence over its failure to comply with health and safety standards , which contributed to the death of a contractor. The company was fined US$400,000, of which US$200,000 is payable immediately. The remaining US$200,000 will be waived if Cemex upgrades the facilities at its plant in Louisville, Kentucky, to the required standard, adopts a written maintenance control programme and allows on-site inspections by state officials. Accordin... |
Cameroon: Medcem Cameroon receives new capital21 April 2016, Published under Cement NewsThe share capital of Medcem Cameroon, a subsidiary of the Turkish group Eren Holding, has soared from XAF10m (US$ 172,129 ) to XAF400m, a legal statement by the firm revealed on Wednesday. StarAfrica reports that this capital upsurge by cash contribution from shareholders, is in stark contrast with the commercial activities of the cement plant whose products have been absent from the market for over six months. After several postponements and a test phase in late August 2015, Medcem ceme... |
Tunisia: Ciments de Bizerte completes quay21 April 2016, Published under Cement NewsCiments de Bizerte is scheduled to complete the development project of its shipment quay by June 2016. The upgraded quay will enable the company to expand its clinker and cement exports as well as enable the unloading of petcoke for the entire domestic cement industry. |
SCG forecasts regional capacity will hit 292Mta by 201820 April 2016, Published under Cement NewsIn a presentation to investors earlier this month, Siam Cement Group (SCG) disclosed that it expects capacity in Thailand and nearby markets will reach 292Mta in two years' time, up from 251Mta in 2015. Production capacity is set to expand in Thailand, Indonesia, Vietnam, Myanmar, Cambodia and Laos. This comes against a backdrop of existing overcapacity – in 2015 domestic consumption in the six countries was 168Mt, implying a utilisation rate of 67 per cent. Demand growth in Thailand a... |
Nigeria: Lafarge Africa sees FY15 growth of 2.5%20 April 2016, Published under Cement NewsLafarge Africa recently released its FY15 financial results, which showed a 2.5 per cent YoY growth in revenue and a 20 per cent decline in profit after tax, PAT, over the same period in 2014, reports All Africa. The company managed to grow its top-line amid the challenging market and economic headwinds it faced during the year, largely driven by the growth in its ready-mix sales and its southwest operations in Nigeria. Its ready-mix operations in Nigeria continued to show great strength wi... |
Al Jouf Cement 4% decline in 1Q profit20 April 2016, Published under Cement NewsSaudi Arabian cement producer, Al Jouf Cement Co posted on Tuesday a net profit of SAR 24.72m (US$6.59m) in the first quarter of 2016, four per cent down from SAR 25.76m (US$6.87m) in 1Q15. The fall in in profit was a result to the drop in the average selling price and higher finance charges and expenses of Zakat in this period, despite the increase in sales volume and other revenue from an inventory adjustment, according to a bourse filing |
Tangshan Jidong Cement begins work on 7200tpd plant19 April 2016, Published under Cement NewsTangshan Jidong Cement, a state enterprise with domestically listed shares, has begun work on a large 7200tpd (2.4Mt) cement plant. Construction of the Jidong plant in Heilongjiang province is a windfall for the local community. A plant this size will bring prestige, tax revenue and employment. The cement industry, however, is in despair at the new arrival. “It's totally unreasonable," laments an executive at the China Cement Association. Jidong, which reported losses of US$260m last yea... |