Cement News tagged under: corporate
Egypt receives 37 applications for new coal-fired cement plants16 February 2016, Published under Cement NewsA total of 37 companies have applied for licences to construct new coal-fired cement plants in nine governorates, Daily News Egypt reported on Saturday citing Egypt’s Industrial Development Authority (IDA). Ismail Gaber, head of the IDA, said the new licences aim to increase investments in the cement industry to meet local consumption. Minister of Industry, Tarek Qabil, announced earlier this year that the IDA would issue licences to establish cement factories in the governorates of Be... |
Pakistan: Fauji Cement sees 66% rise in 1HFY16 net profit16 February 2016, Published under Cement NewsFauji Cement Co (FCCL) has a reported a profit after tax of PKR2.77bn (US$264m) during 1HFY16 versus PKR1.668bn during the same period last year, up 66 per cent YoY. During the first half dispatches increased by seven per cent YoY, stemming from rising domestic dispatches – up 13 per cent YoY, due to an acceleration in private sector construction activities and the materialisation of the government's budgeted Public Sector Development Programme (PSDP). However, exports were down 21 per cen... |
Shanshui Cement unit defaults on third onshore bond, China16 February 2016, Published under Cement NewsShanshui Cement's key operating subsidiary Shandong Shanshui Cement Group defaulted on its third onshore bond. According to a statement posted on Shanghai clearing house on 14 February, Shandong Shanshui could not pay in full of the bond's principal and coupon due on February 12 because some of its banks accounts and assets were frozen due to lawsuits against the company. The principal and coupon totaled CNY826.56m (US$126m). A spokesman for Hong Kong-listed Shanshui said its largest s... |
Fujairah Cement Industries 4Q net profit up 26%16 February 2016, Published under Cement NewsUAE-based Fujairah Cement Industries (FCI) posted a 26 per cent jump in fourth-quarter net profit of AED26m (US$7.07m) compared to AED8.71m (US$2.37m) in the same period of 2014. FCI’s full-year net profit climbed 96.55 per cent to AED50.65m (US$1m) as compared to AED25.77m (US$1m) in the fiscal year of 2014. The company's sales in 2015 reached AED612.21m, down 0.53 per cent versus AED615.5m. Fujairah Cement generated net profits of AED24.7m (US$6.7m) in the first nine months of 2015, com... |
Buzzi Unicem preliminary figures show revenues rise 6.2 per cent in 201515 February 2016, Published under Cement NewsBuzzi Unicem’s preliminary results for 2015 show a 6.2 per cent rise in revenues to EUR2662m from a year earlier. Thanks to the strengthening of the dollar, which was partly offset by the devaluation of the Russian ruble and the Ukrainian hryvnia, foreign exchange fluctuations had a favourable impact of EUR101m. The group’s net debt fell to EUR1.03bn in 2015 from EUR1.06bn in 2014. It expects from preliminary data that EBITDA will be EUR470m in 2015. Cement volumes for the year rose by... |
Operational efficiencies and cost savings boost Siam City Cement 4Q1515 February 2016, Published under Cement NewsSiam City Cement Co (SCCC), Thailand's second-largest cement producer, achieved a 45 per cent increase in 4Q15 net profit due to a reduction in costs and non-recurring items. Vorathep Rangchaikul, chief executive officer of SCCC, told The Nation that the cement producer attributed the strong performance to efficient production operations at high-capacity utilisation and cost savings harnessed through investments in industrial assets as well as lower energy prices. "Nevertheless, our cor... |
ACC full-year volumes impacted by mine closure, slow economic start to year15 February 2016, Published under Cement NewsACC Ltd, part of the LafargeHolcim group, reported a 2.4 per cent decline in 2015 sales volumes to 23.62Mt due to the temporary closure of mines serving its Chaibasa and Bargarh plants in eastern India, and the generally slow pace of the economy earlier in the year. Cement volumes during the final quarter of the year witnessed a turnaround, improving by four per cent YoY to 6Mt. The company’s focus on cost management helped contain overall production costs, despite a contribution to th... |
Glenwood PE & Baring Private Equity Asia reportedly make bid for Lafarge Halla Cement15 February 2016, Published under Cement NewsSouth Korea’s private equity fund Glenwood Private Equity and Hong Kong-based private equity fund Baring Private Equity Asia are to buy Lafarge Halla Cement Corp (South Korea) from LafargeHolcim Ltd for around KRW550bn (US$455.1m), report local media. According to investment bank industry sources on Friday, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim, the largest shareholder of the Korean cement producer, that it selected Baring Private Equity Asia as... |
Oman: Raysut Cement reports 24% drop in 2015 net profit15 February 2016, Published under Cement NewsRaysut Cement reported a 23.6 per cent drop in 2015 net profit to OMR20.95m (US$54.4m) from OMR27.43m a year earlier. Total revenues edged 0.4 per cent higher last year to OMR94.68m. Gulf Baader Capital Markets (GBCM) said Raysut Cement''s revenue came above its estimates of OMR91.74m. The brokerage company said that despite the drop in Raysut Cement''s exports to Yemen – which accounts for almost 15 per cent of its total sales – the company managed to report good volumes, sales and earnin... |
India: Ambuja Cements reports flat growth in full-year volumes12 February 2016, Published under Cement NewsAmbuja Cements, part of the LafargeHolcim group, reported flat sales growth for the 12 months ending 31 December 2015. The company underlined that during the year the Indian cement market largely remained subdued although there was a 5.2 per cent rise in volumes during the final quarter. However, lower cement price realisation led to overall net sales being down by 5.5 per cent in 2015 to INR9368 crore, compared to INR9911 crore a year earlier. Lower operating costs with improved opera... |