Cement News tagged under: corporate
Bolivia: Soboce income falls 49% in FY14-1522 July 2015, Published under Cement NewsSoboce profits fell 48.8 per cent YoY from US$31.46m to USS16.12m in the period April 2014-March 2015. The result due to a rise in costs, heavy rains and the payment of a US$7.41m fine for alleged anti-competitive practices. Sales volumes and prices have remained stable, according to the company. "The projection of revenues for the current administration depends on the growth in domestic demand for cement. We expect that economic indicators have performed well accompanied with a good clima... |
Aboitiz Equity to invest in Philippine venture22 July 2015, Published under Cement NewsAboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ... |
TCL reports second-quarter results22 July 2015, Published under Cement NewsHaving successfully refinance its restructured debt, Trinidad Cement Ltd has been able to take advantage of the maximum discount that was negotiated with creditors in May 2015. Net of fees incurred for the new financing, the company was able to benefit from prepayment discounts of TTD194.2m, all of which has been reflected in its second quarter 2015 results released yesterday. The restructured debt agreement that was concluded in 1Q was refinanced in May 2015 using proceeds from a Bridge L... |
Egypt: Suez Cement 2Q net profit drops 57%22 July 2015, Published under Cement NewsSuez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits". |
Sustained global cement demand growth expected21 July 2015, Published under Cement NewsGlobal cement consumption is expected to record sustained growth in 2015, with further gains forecast for 2016, according to analysis presented in the recently-released Global Cement Report Eleventh Edition. The report, which covers key cement market data for over 170 countries, reveals that total world consumption rose by 2.6 per cent in 2014 to 4140Mt, compared to the 7.7 per cent growth achieved in 2013. Global demand growth has been driven by the phenomenon of China, which has increased... |
UltraTech first quarter profit falls 5.5%21 July 2015, Published under Cement NewsUltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i... |
Summit Materials completes acquisition of Lafarge North America assets21 July 2015, Published under Cement NewsUS-based construction materials company Summit Materials, Inc has completed its previously announced acquisition of a 1.2Mst cement plant in Davenport, Iowa along with seven cement distribution terminals from Lafarge North America Inc. unit for a purchase price of US$450m in cash, plus an exchange of Summit’s Bettendorf, Iowa cement distribution terminal, the company said on Monday. The newly-acquired cement operations are a complementary fit with Summit’s existing cement plant in Hannibal,... |
Vietnam: Song Lam project 'facing financial difficulties'21 July 2015, Published under Cement NewsThe Vissai Cement Group, which is building the 12,000tpd Song Lam Cement Plant, has announced that ground clearance has already reached about VND240bn (US$11m). As a result, the group has reported 'facing financial difficulties' and is also struggling with the costs of clearing the path for a road between the plant site and an existing grinding facility. The project involves two production lines, each with a clinker capacity of 6000tpd. It was originally expected that the plant would pro... |
ACC quarterly profit down 45% on subdued demand, India20 July 2015, Published under Cement NewsIndian cement major ACC Ltd reported a 45.1 per cent drop in consolidated net profit for the second quarter of the calendar year to INR133.5 crore on the back of challenging market conditions and subdued demand. Consolidated total income of the company fell by 2.1 per cent to INR3,037.1 crore in April-June 2015 quarter from INR3103.2 crore in the same quarter of 2014 fiscal, it added. The company attributed the decline in net profit to challenging market conditions. “Overall constructio... |
Monthly construction output up by 0.3% in euro area20 July 2015, Published under Cement NewsIn May 2015, seasonally-adjusted production in the construction sector rose by 0.3 per cent in the euro area (EA19) and fell by 0.3 per cent in the EU 28, according to the first estimates from Eurostat, the statistical office of the European Union. In April 2015, production in construction dropped by 0.2 per cent and 0.6 per cent, respectively. In May 2015 compared with May 2014, production in construction grew by 0.3 per cent in the euro area and by 0.5 per cent in the EU28. The increas... |