Cement News tagged under: corporate
India: BMM Cements becomes wholly-owned subsidiary of Sagar Cements01 September 2015, Published under Cement NewsSagar Cements has acquired 100 per cent equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company. The company had earlier received final approval for the acquisition of 100 per cent equity stake in BMM Cements, which owns a cement plant of 1Mta and a 25MW captive thermal power plant in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on 17 October 2014 approved the d... |
Cementos Argos’ 2Q EBITDA advances 45% YoY28 August 2015, Published under Cement NewsCementos Argos’ consolidated EBITDA increased by 45 per cent in the second quarter of 2015, reaching COP371bn. Consolidated revenues grew 26 per cent YoY to COP1.8trn, The US regional devision recorded an EBITDA of US$35m, up 44 per cent YoY. Net income for the quarter jumped 211 per cent to COP142bn. Year-to-date cement dispatches increased by 14 per cent to 6.8Mt while ready-mix concrete volumes rose by four per cent to 5.5Mm3. Colombia In Argos’ domestic market of Colombia, c... |
Boral's pre-tax profit rises by 38.9%28 August 2015, Published under Cement NewsBoral's turnover in its financial year to the end of June 2015 declined by 15.2 per cent to AUD4415m (EUR2893m) but the EBITDA improved by 8.8 per cent to AUD605m (EUR396m). The trading profit advanced by 21.4 per cent to AUD357m (EUR234m) and after a net interest charge 22.9 per cent lower at AUD64m (EUR42m) the pre-tax profit rose by 38.9 per cent to AUD293m (EUR192m). The net attributable profit increased by 48.6 per cent to AUD257m (EUR168m). Net debt at the end of June was increased ... |
EAPCC appoints new chief operating officer28 August 2015, Published under Cement NewsKenya-based East African Portland Cement Co (EAPCC) has appointed Albert Sigei as chief operating officer, effective 24 August 2015. Sigei will be responsible for production operation, production engineering, supply chain management, sales and marketing. He joins EAPCC from Lafarge, Nigeria, where he was vice-president of business support and ready-mix operations. EAPCC has recently undertaken an investment project at its cement plant in Athi River, Kenya, centred on improvements to the cl... |
Bamburi first-half pretax profit jumps 94%28 August 2015, Published under Cement NewsBamburi Cement reported a 94 per cent jump in first-half pretax profit from a year earlier to KES4.5bn (US$43m). According to Reuters, the company attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. Turnover grew to KES19.3bn from KES17.3bn a year earlier on the back of infrastructure investments. Exports to other African marke... |
CRH's first-half driven by the Americas27 August 2015, Published under Cement NewsCRH's first half turnover advanced by 12.6 per cent to €9,370m and the EBITDA improved by 9.9 per cent to €555m. The trading profit increased by 11.2 per cent to €189m and after a net interest charge 8.6 per cent higher at €139m, the pre-tax profit increased by 3.3 per cent to €63m. The net attributable result improved by €1m to €46m. Net debt at the end of June was 67.3 per cent lower at €1212m, giving a gearing level of 9.7 per cent, which compares with 39.9 per cent a year earlier. ... |
CMS Bhd reports stable earnings, Malaysia27 August 2015, Published under Cement NewsCMS Bhd (CMSB) reported a total revenue of MYR867.84m (US$206m) for the first half of 2015, a rise of 14.7 per cent on the MYR756.6m recorded a year earlier. Pretax profit in the first half of 2015 remained stable at MYR161.72m (versus MYR164.84m in 1H14). The group’s profit after tax and non-controlling interests was MYR98.08m, down 6.7 per cent from the MYR105.11m posted a year earlier which had benefitted from the impact of land sales. The company said the main contributors towards p... |
UltraTech reportedly nearing deal to buy Bhilai grinding plant, India27 August 2015, Published under Cement NewsUltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press. Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ... |
Semen Indonesia's profit may ease this year27 August 2015, Published under Cement NewsSemen Indonesia expects its net profit to drop this year as slowing demand and rising costs put pressure on the company's margin. "We expect revenue to be maintained [at the same level as last year's]. However, our EBITDA margin might be squeezed by around three per cent and our profit might be lower by about two per cent," Semen Indonesia president director Suparni told the Jakarta Post. Suparni told reporters on Tuesday that while he was upbeat infrastructure projects would progress i... |
FLSmidth updates full-year guidance26 August 2015, Published under Cement NewsFLSmidth’s order intake and revenue showed solid growth in the second quarter of this year supported by currency developments. However, the company noted that the outlook for the global mining industry has deteriorated in recent weeks, which has had an adverse impact on management's assessment of business risks and earnings in 2015. During the second quarter, the order intake increased 13 per cent YoY to DKK5259m. The order backlog decreased 17 per cent to DKK18,105m. Revenue rose four... |