Cement News tagged under: corporate
India: Emami Group to build Panagarh grinding plant28 March 2016, Published under Cement NewsChief minister Mamata Banerjee, on Saturday, in Panagarh, laid the foundation stone for Emami Group's new INR5000m (US$74.8m) grinding plant project that will be located in Panagarh. The Emami Group explianed that the new unit is likely to be commissioned by year-end. "The 2Mta capacity unit is to be located at WBIDC Panagarh Industrial Park in Burdwan district of West Bengal at an investment of INR5000m," a statement by Emami Cement said. "The project will be developed over a area of ... |
Buzzi Unicem releases FY15 results24 March 2016, Published under Cement NewsBuzzi Unicem reported recurring EBITDA of EUR121m for 4Q15 and EUR473m for the full-year 2015. This is above earlier guidance of EUR470m as well as consensus estimate of EUR468m, says analysts Morgan Stanley. Compared to the Morgan Stanley's 4Q15 segmental forecast, the strong performance came from the US, Germany and Russia where the reported EBITDA margins were much higher than analyst expectations. However, this was offset by a particularly weak performance in Italy due to one-off costs ... |
China: Anhui Conch suffers 32% profit fall in 201524 March 2016, Published under Cement NewsChina's largest cement maker, Anhui Conch, reported a 32 per cent fall in 2015 net profit on Wednesday, marking its first profit fall in three years as a slowing Chinese economy was reflected in a contracting construction market and reduced cement demand. Anhui Conch also warned that the cement industry's oversupply situation could worsen this year as growth in China's fixed investments was slowing on the back of the weaker economy, reported Reuters. "Market competition in the first half... |
Bosnia: TCK sees net profit rise to EUR7.1m in 201524 March 2016, Published under Cement NewsBosnian cement producer Tvornica Cementa Kakanj (TCK), owned by HeidelbergCement, saw its net profit jump to BAM13.8m (US$7.88m), up 22 per cent from BAM11.3m in 2014. The company’s operating revenue edged up 1.4 per cent YoY to BAM62.1m in 2015. Operating costs decreased to BAM48.2m from BAM49.7m in 2014, TCK said in its financial report sent to the Sarajevo Stock Exchange. |
BBMG sees net profit slip 16.7%24 March 2016, Published under Cement NewsBBMG Corp reported a fall in net profit for 2015. Its net income fell 16.7 per cent to CNY2.02bn (US$310m), declining for a second straight year. The cement and building materials supplier aims to bring in revenues of CNY41bn in 2016, roughly level with last year's CNY40.9bn, it said in a filing to the Shanghai stock exchange. |
Holcim Madagascar successfully tests HFO23 March 2016, Published under Cement NewsHolcim Madagascar has successfully concluded a first test of Tsimiroro heavy fuel oil (HFO). The oil will be used for drying of raw materials before grinding. “The first HFO test was positive and technically satisfactory. But the process will not be limited to a single test. A further test will be carried out after the rainy season,” said Pascal Naud, CEO of Holcim Madagascar. The second test will consider the impact of HFO in terms of production costs in view a falling cement prices in th... |
USA: GCC Dacotah unveils US$90m investment23 March 2016, Published under Cement NewsGCC Dacotah has announced a US$90m investment to upgrade and restart Kiln Line 6 at its cement plant in Rapid City, South Dakota. Mayor Steve Allender welcomed the news. "Construction is a major industry in Rapid City and the region, and this cement plant has a long history of providing cement for the state and region. It's very good for Rapid City. We are a growing community; the business community is growing. I think that's positive for all of us. There's consumer confidence, there's busin... |
Cambodia: work begins on Kampot cement plant23 March 2016, Published under Cement NewsWork started last weekend on Cambodia’s largest cement plant, which will be built in Kampot province with an investment of US$262m by Chip Mong Insee Cement. Chip Mong Insee is a joint venture with Thailand’s Siam City Cement and was formed in December 2012. The new plant will have a cement capacity of 5000tpd. Leang Khun, the president of Chip Mong Group, said during a ceremony at the site that the new works has been designed to international standards and will also utilise energy-saving ... |
Vietnam: Hon Quan cement plant under consideration23 March 2016, Published under Cement NewsThaiGroup JSC, formerly known as Xuan Thanh Group Joint Stock Company, is considering construction of a cement plant in Hin Quan, Vietnam. The investment would be approximately VND12trn (US$533.33m) in the southern province of Binh Phuoc. The 4.5Mta Xuan Thanh Binh Phuoc cement plant would be built between 2016-20 as part of the plan to develop the country's cement industry by 2020. According to Vu Hoang, deputy general director of ThaiGroup, the group has proposed the province’s Pe... |
Bahrain: 10% stake in Falcon Cement snapped up23 March 2016, Published under Cement NewsAbu Dhabi Financial Group (ADFG) will buy a 10 per cent of Bahrain-based Falcon Cement Company from the Bahraini Islamic investment bank GFH Financial Group. The US$120m integrated cement plant has a production capacity of 0.35Mta, which is expected to rise to 0.85Mta by the end of 2016 after a second production line is added. The plant manufactures ordinary Portland cement and sulphate resistant cement and is located in Hafirah. The deal was carried out through Integrated Capital, the cap... |