Cement News tagged under: corporate
Attock Cement posts positive 9MFY16 results15 April 2016, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced in its 9MFY16 results it earned a NET profit of PKR2.094bn during 9MFY16 (July-March) against PKR1.644bn during 9MFY15, up 27 per cent, YoY, on the back of a five per cent YoY growth in net sales and better gross profits. Al Habib Capital Markets (Pvt) Ltd, in its review report about ACPL, attributes increase in profit to rising domestic dispatches, on the back of acceleration in private sector construction activities, commencement of work o... |
Oman: Raysut Cement 1Q16 profits up 34%15 April 2016, Published under Cement NewsOman’s Raysut Cement reported a 34 per cent increase in 1Q16 net profit on Wednesday, according to a bourse statement. The largest cement firm by market value in the sultanate made OMR8.08m (US$20.9m) in the three months ending 31 March, compared with OMR6.03m in the same period of 2015. Analysts at EFG Hermes and Gulf Baader Capital Markets forecast Raysut would make a quarterly net profit of OMR5.70m and OMR5.83m, respectively. |
Beat Hess is nominated as LafargeHolcim's new chairman15 April 2016, Published under Cement NewsLafargeHolcim's Board of Directors has proposed to the Annual General Meeting of 12 May 2016 the election of Beat Hess as the new group chairman. He will be succeeding Wolfgang Reitzle, who has been chairman for two election periods and a member of the Board of Directors since April 2012. The Board of Directors would like to thank Wolfgang Reitzle for his valuable service to the group as well as all his efforts and contributions, which were instrumental for the completion of the LafargeHolci... |
Zimbabwe: PPC's Harare plant is half-way complete15 April 2016, Published under Cement NewsThe construction of a new cement plant by Pretoria Portland Cement (PPC) in Harare is progressing as planned and is now 55 per cent complete. The plant is expected to produce 70.7Mta of cement when fully commissioned. This is in line with the South African parent company's strategy of growing its non-South African revenue from the current 21 per cent to at least 40 per cent before the end of this year. Sources at PPC told the Financial Gazette this week that the plant would be operatio... |
Asia Cement's appoints new CFO15 April 2016, Published under Cement NewsAsia Cement (China) Holdings Corp has appointed Wu Ling-ling as its new Chief Financial Officer, effective from 14 April 2016, reports News Bites Pty Ltd. Ms Wu, aged 49, has served as the CFO and Executive ViceP resident of Asia Cement Corporation since 2007. The former compamny CFO, Shao Ruey-huey, resigned from the position of executive director, CFO and authorised representative, due to her other career aspirations on 14 April 2016. Shao has confirmed that she has no disagree... |
Ten bidders chase LafargeHolcim Indian assets14 April 2016, Published under Cement NewsThe sale of LafargeHolcim's Indian operations has attracted considerable interest, with the company having received bids from 10 groups interested in buying the assets. According to India's Economic Times, JSW Cement, Blackstone and Ramco Cements have all submitted bids, while the Irish Times notes that CRH, Piramal Group and Carlyle Group are also in the running. LafargeHolcim is selling three integrated plants and two grinding plants with a combined capacity of 11Mta, valued at aroun... |
Taiwan Cement Corp hopes for improved 2H1614 April 2016, Published under Cement NewsTaiwan Cement Corp, the nations biggest cement maker, yesterday said that business has remained weak since last year, adding that it hopes to see a pick-up in 2H16. "Our business in the first quarter of this year remained under pressure due to a pessimistic sentiment that has continued from last year," Leslie Koo, Taiwan Cement chairman, said at an investors conference in Taipei. In the final quarter of last year, Taiwan Cement reported net income of TWD1.78bn (US$55.02m), down 31.3 per... |
India: ACC Ltd to raise capacity to over 33Mta14 April 2016, Published under Cement NewsACC Ltd will spend about INR6000 (US$89.9m) in 2016-17 to complete its cement capacity expansion plans. ACC is building two cement units at Jamul and Sindri with a combined capacity of 2.4Mta. Following completion, the plants are expected to take the company's total capacity to 33.42Mta. "The planned capital expenditure for 2016 is about INR6000 to be used to complete the expansion plans at Jamul (in Chattisgarh) and Sindri (in Jharkhand)," Harish Badami, chief executive officer and mana... |
PPC's acquisition of 3Q Mahuma Concrete approved14 April 2016, Published under Cement NewsSouth Africa's Competition Tribunal yesterday approved,without condition, PPC's acquisition of 3Q Mahuma Concrete, the largest independently owned ready-mix concrete supplier in southern Africa. The Competition Commission had recommended the tribunal approve the acquisition without conditions, but by late yesterday the tribunal had not communicated its decision. PPC previously disclosed that it planned to acquire the company for a maximum of ZAR183m (US$12.48m). It said the proposed ... |
PT Semen Baturaja will open a new plant in 2017 and targets strong sales13 April 2016, Published under Cement NewsA major growth area for state-owned PT Semen Baturaja is South Sumatra, where the company has signed contracts with several firms to build a new plant called Baturaja II in anticipation of increasing construction projects in the province. Project developments and construction in South Sumatra continues to increase ahead of the 2018 Asian Games, including a light rail transit project, overpasses, sports facilities and hotels. Zulkifli Subli, PT Semen Baturaja 's corporate secretary, ... |