Cement News tagged under: corporate
Attock Cement 1Q net profit up 2%26 October 2015, Published under Cement NewsAttock Cement announced a net profit of PKR470m (US$4.5m) in the first quarter (Jul-Sep) of fiscal year 2015-16, up just two per cent compared to the profit it earned in the same period of the previous fiscal year. Earnings per share (EPS) were up to PKR4.20 from PKR4.11 in the period under review. The company registered a 10 per cent YoY decline in sales mainly on the back of a 10 per cent reduction in dispatches, a report by Arif Habib Limited published in the The Express Tribune (Pakist... |
Cemex' gearing rises to 183 per cent23 October 2015, Published under Cement NewsDuring the first nine months of the year, Cemex' turnover declined by 7.2 per cent to US$10,722.4m while the EBITDA was 1.4 per cent lower at US$1,974.3m. The trading profit, however, advanced by 5.8 per cent to US$1264.6m while the net interest charge declined by 24 per cent to US$962.4m. Pre-tax profit improved by 41.1 per cent to US$166m. A 43.5 per cent lower tax charge led to the net attributable loss shrinking from US$325.9m to US$77.3m. Net debt at the end of September was 5.2 p... |
Cemex Latin American Holdings burdened by weaker Colombian markets23 October 2015, Published under Cement NewsCemex Latin American Holdings' turnover for the first nine months of the year declined by 16.8 per cent to US$1,102.1m and the EBITDA came down by 21.8 per cent to US$346.3m. The reduction at the trading level was 24.3 per cent to US$281.5m. After a net interest charge that was 22.5 per cent lower at US$58.3m, the pre-tax profit emerged 35.5 per cent lower at US192.4m. A 15.5 per cent lower tax charge and lower minorities led to a 43.9 per cent reduction in the net attributable profit to ... |
Vietnam: Thanh Thang Cement Corp signs credit agreement for new second line23 October 2015, Published under Cement NewsBank for Investment and Development of Vietnam (BIDV) on Wednesday signed a credit contract with Thanh Thang Cement Corp to develop a second line at the Vietnamese cement producer's plant in the northern province of Ha Nam. Under the agreement, BIDV will lend VND3.5trn (US$155.56m) to the project which requires a total investment of VND4.8trn, the Thoi Bao Kinh Te Vietnam newspaper reported Thursday. The project covers 56.8ha in Thanh Nghi commune, Thanh Liem district, and has a clinker ca... |
CNBM issues 9M15 profit warning22 October 2015, Published under Cement NewsChina National Building Materials (CNBM) warned investors that its nine-month profit will likely plunge 80 per cent from a year earlier, implying that 3Q15 slipped into losses. CNBM blamed weak cement prices driven by a slowdown in demand and severe industry overcapacity. Barclays notes the profit alert points to a loss of CNY0.02 per share in the third quarter. It said that the profit warning is disappointing as it indicates cement prices in 3Q15 were weaker than expected by market. The ... |
Hanson UK CEO to step down22 October 2015, Published under Cement NewsHanson UK chief executive officer, Patrick O’Shea, is stepping down in December after eight years at the head of the construction materials business. His successor will be Daniel Cooper, who is currently northern regional general manager for Hanson Australia. Patrick (pictured right) joined Hanson PLC in 1990 and held a variety of senior financial and operational roles before becoming chief executive of Hanson Pacific in 2001. In 2003 he added responsibility for continental Europe to this ... |
Sinoma International Engineering's new Nigerian contract22 October 2015, Published under Cement NewsSinoma International Engineering Co Ltd has recently entered into an engineering, procurement and construction contract for a 6000tpd clinker cement production line and a power plant with Ibeto Cement Co Ltd in Nigeria, worth US$386m. This project is located in Enugu area of Nigeria. The contract covers the whole process from exploitation of limestone mines and crushing of raw materials to packing and delivery of cement, together with a 45MW self-generation power plant, including engineerin... |
Saudi Cement Co unveils new brand identity22 October 2015, Published under Cement NewsSaudi Cement Co has launched a new brand identity an event which also marked company's diamond jubilee. Present at the ceremony were senior government officials, businessmen, suppliers and clients. According to a statement, the company chose to evolve its brand and motto in order to reflect a new identity and pledge its commitment to clients. Chairman Khalid bin Abdul-rahman Al Rajhi said the launch of the new identity confirms that Saudi Cement is looking forward to a brighter future. He ... |
McInnis Cement signs workforce recruitment partnership22 October 2015, Published under Cement NewsMcInnis Cement and Emplois Compétences have announced the signing of a partnership agreement for the recruitment and development of the local workforce for the cement plant at Port-Daniel-Gascons. Emplois Compétences opened its offices on 13 October in Port-Daniel-Gascons to support McInnis Cement in the recruitment of all employees. The positions to be filled are varied and include executives and professionals for technical, industrial and operational positions. “From our new office in Po... |
ACC sees subdued July-Sept volumes and pricing21 October 2015, Published under Cement NewsLafargeHolcim Indian subsidiary ACC reported flat volumes and subdued selling prices for the July-September 2015 quarter as construction activity and cement demand remained weak during monsoon season. Turnover during the period stood at INR2740 crore, virtually flat from the same period of last year. Operating EBITDA fell to INR313.20 crore versus INR379.08 crores in July-Sept 2014. While sales remained flat, there was a reduction in energy costs. During the quarter, a provision was also m... |