Cement News tagged under: corporate
Eagle Materials improves cement profit29 January 2016, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2015 increased by 3.5 per cent to US$973.9m. The trading profit before corporate overheads declined by 16.4 per cent to US$206.4m, of which cement contributed 56.2 per cent compared with 39.1 per cent a year earlier. The group trading profit was off by 18.4 per cent to US$179.8m. After a net interest charge 6.4 per cent higher at US$12.8, the pretax profi... |
Pakistan: Kohat half-year profit up 54%29 January 2016, Published under Cement NewsKohat Cement Company Ltd’s profit climbed 54 per cent to PKR2.10bn (US$20m) in the half-year ended 31 December 2015 on increased sales and other income as well as decreased finance cost and energy prices, analysts said. The cement manufacturer reported a profit of PKR1.36bn in the same period a year earlier. “Decreases in energy prices coupled with increased sales volume are the primary reasons for the improved gross and net margins during the quarter under review,” said Khurram Shehzad,... |
HeidelbergCement to modernise Schelklingen29 January 2016, Published under Cement NewsHeidelbergCement will invest EUR100-150m in its Schelklingen works, Germany, according to Hans Georg Kraut, director of the works. The new kiln will not alter the 4700tpd clinker capacity of the plant, but will significantly reduce emissions and energy consumption. Later this year, the old kiln will be disassembled and a new kiln built in its place. The second old kiln at the site will also be dismantled once the new kiln is commissioned in 2018. In addition, two storage halls for waste t... |
Tunisia: Carthage Cement reduces debt29 January 2016, Published under Cement NewsThe overall turnover of Carthage Cement, all activities included, posted a positive growth of +55, reaching TND56.774m (US$27,816m) in the last quarter of 2015 against TND36.639m in 2014. This allowed the company to close the year 2015 with a turnover of around TND184.271m against TND169.490m in 2014. The company’s overall indebtedness at 31 December 2015 decreased by -1% to TND512.8m. |
Thai SCG approvals proposals to buy out Vietnam tile firm29 January 2016, Published under Cement NewsSiam Cement Group (SCG) plans to wholly acquire Vietnam’s ceramic tile manufacturer. Siam Cement Group (SCG) has approved the proposal of its wholly owned subsidiary SCG Building Materials to acquire the remaining 15 per cent stake of Prime Group and related assets for THB2.19bn (US$61.24m), the Nation newspaper reported. SCG in December 2012 closed a deal to acquire an 85 per cnet stake in Prime Group, the largest ceramic tile in Vietnam, for THB7.2bn (~US$240m). SCG saw revenue up seven ... |
PPC chairman to step down, South Africa27 January 2016, Published under Cement NewsPPC announced that Bheki Lindinkosi Sibiya, who has served as chairman of Board since November 2008, elected not to offer himself for re-election at the shareholders AGM on 25 January 2016. Accordingly, he retires as non-executive director and chairman of the Board. PPC noted that under Mr Sibiya's stewardship the company has achieved a number of key milestones, notably the successful conversion of the company´s mining rights and the initiation of its African expansion strategy which to... |
LH confirms Sberbank shareholding27 January 2016, Published under Cement NewsLafargeHolcim Ltd said in a statement yesterday that it was informed on 25 January 2016 by Sberbank of Russia that it holds, through a repurchase transaction with Eurocement Holding AG, 6.12 per cent of the voting rights and of the registered share capital of LafargeHolcim Ltd. This corresponds to 37,172,910 registered shares and voting rights. According to the declaration of Sberbank of Russia, the Stock Exchange Act threshold of five per cent was exceeded on 21 January 2016. |
Siam Cement posts 29% rise in 4Q net profit27 January 2016, Published under Cement NewsSiam Cement Plc posted a 29 per cent increase in fourth-quarter net profit as better earnings from its chemical unit outweighed weakness in cement and the building materials business. For 2015 Thailand's largest industrial conglomerate posted a 35 per cent rise in net profit of THB45.4bn (US$1.27bn) due to strong chemical earnings, while its sales fell 10 per cent to THB439.6bn due to lower chemical prices, it said in a statement. Last week Bualuang Securities cautioned that the Cement-Bui... |
Jaiprakash reportedly receives four bids for cement business27 January 2016, Published under Cement NewsJaypee group-promoted Jaiprakash Associates has received four bids for the 20Mta of cement capacity that it has put up for sale to reduce its debt burden. A report in the Business Standard of India said the bidders include global private equity firm KKR, and domestic players UltraTech and Dalmia Bharat Cement. Units reported to be up for sale included the 2.2Mta Bhilai cement plant joint venture between Jaiprakash Associates (74 per cent) and Steel Authority of India Ltd (24 per cent) – ... |
PPC reports 3% decline in first-quarter sales26 January 2016, Published under Cement NewsSouth African cement producer PPC reported a three per cent sales decline in its trading update for the October-December 2015 quarter, citing weak demand and tough competition. Cement sales in the South African business were down by 1.6 per cent while the international businesses recorded an eight per cent drop including low margin cement exports to other African countries, the company said in a first-quarter trading statement released today. Despite the tough South African operating en... |