Cement News tagged under: corporate
Italcementi, trade unions study solution for new lay-off scheme for 201616 October 2015, Published under Cement NewsItalcementi and the trade unions are looking for a solution for the temporary lay-off scheme that will expire in January 2016, according to reports by local media. At a recent meeting the parties determined that it is not possible to extend the current temporary lay-off scheme and consequently they are studying alternatives that would allow wider coverage compared to the initial programmes. In a statement the trade unions explain that one of the hypotheses could entail the use of the sche... |
Carthage Cement posts 19% rise in 3Q15 turnover15 October 2015, Published under Cement NewsTunisia-based Carthage Cement increased its cement production by 52 per cent YoY in 3Q15. Cement turnover rose by 24 per cent during this period but clinker sales fell as the company did not sell clinker to avoid competition with its own product and promote the sales of cement, the finished product with high added value. This strategy allowed Carthage Cement to consolidate its domestic market share which climbed from 10.9 per cent in September 2014 to 16.7 per cent one year later. In the ... |
Oman: Raysut’s nine-month net profit down14 October 2015, Published under Cement NewsOman’s largest cement producer, Raysut Cement Co (RCC), said its net profit for the first nine months of this year fell 24.24 per cent to OMR15.81m (US$41m). The company’s revenue edged down to OMR69.38m from OMR70.76m, while the cost of sales rose to OMR43.88m from OMR40.16m, the company said in a stock market filing. Gross profit also slipped to OMR25.50m, against OMR30.59m for the nine-month period of 2014. The preliminary results are subject to approval by the company’s Audit Committe... |
Steppe Cement revenue falls on lower pricing14 October 2015, Published under Cement NewsSteppe Cement Ltd Tuesday said revenue in the first nine months of 2015 fell four per cent YoY as increased sales were offset by lower cement prices. Kazakhstan producer said revenue in the third quarter of 2015 experienced a small rise to KZT7.77bn from KZT7.65bn a year previously. That brought revenue for the first nine months of 2015 to KZT16.04bn, down four per cent YoY from KZT16.77bn. Revenue fell in the first nine months as the four per cent YoY rise in sales volumes to 1.34Mt from ... |
Investment agreed for Khokh Tsav Cement-Lime13 October 2015, Published under Cement NewsThe Mongolian cabinet has approved the draft agreement on investment for Khokh Tsav cement-lime plant and authorised the Minister of Industry, D Erdenebat, to sign the agreement. The plant was originally conceived in 2012, but had insufficient finances to go beyond the planning stages. The project consists of building a dry-process plant for cement-lime and clinker production, based at the Khokh Tsav lime deposit in Dalanjargalan soum of Dornogovi aimag. Mongolyn Alt Corporation (MAK) is t... |
Dangote commissions 3Mta Tanzanian plant13 October 2015, Published under Cement NewsDangote Cement has commissioned its 3Mta Mtwara cement plant in Tanzania and held a groundbreaking ceremony for a 26ha jetty, as the Nigerian cement major continues its expansion drive in Africa and beyond. The new plant is expected to reduce imports into Tanzania as well as bring down prices in the country. The company aims to Tanzania's main consumption centres as well as neighbouring markets. Dangote Cement previously noted that although located near the coast, the plant will be able to ... |
LafargeHolcim welcomes new CFO12 October 2015, Published under Cement NewsLafargeHolcim announces the appointment of Ron Wirahadiraksa as the Group’s new Chief Financial Officer and member of the Executive Committee. Mr Wirahadiraksa will succeed Group CFO Thomas Aebischer who is pursuing new opportunities outside the Group. Mr Wirahadiraksa is currently Executive Vice President and Chief Financial Officer of Philips, a group he joined in 1987. After working in the Netherlands, Greece, Malaysia and the US, he became Chief Financial Officer at LG.Philips LCD in ... |
Yanbu Cement Co nine-month net profit down 2%12 October 2015, Published under Cement NewsSaudi-based Yanbu Cement Company reported a two per cent decline in net profit over the first nine months of 2015 to SAR597m (US$159m), compared to SAR609m in the same period of 2014. In the third quarter alone, profit was down by 11 per cent to SAR145m versus SAR163m in 3Q14, according to a bourse filing. The profit drop during the first nine months and third quarter of 2015 is mainly attributed to a decline in other revenues. |
Huaxin Cement to launch 5Mta project in Kazakhstan12 October 2015, Published under Cement NewsShanghai-listed Huaxin Cement Co, Ltd will erect a cement project with a capacity of 5Mta in Kazakhstan. The new dry-process cement production line will start construction by the end of the year. (Source: Xinhua's China Economic Information Service) |
S&P raises Italcementi outlook to positive09 October 2015, Published under Cement NewsStandard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P believes that the combined group's credit profile will likely be higher than that of Italcementi on a st... |