Cement News tagged under: corporate
Pakistan: Cherat Cement to construct new 1.3Mta plant28 November 2014, Published under Cement NewsCherat Cement will construct a new plant with a cement capacity of over 1.3Mta. The project will cost PKR12bn (US$118m) and take 30 months to deliver. The new works will take the company’s overall production capacity up to 2.4Mta. Executive director at Cherat Cement, Abid A Vazir, explained that the facility is being built due to the increase in domestic demand, and is also expected to further increase the company’s market share and profitability. Highlighting financial performance, Yas... |
Chile: Cemento Melon sees 310% 9M14 profit surge28 November 2014, Published under Cement NewsChilean cement producer Cemento Mélon has reported a 310 per cent YoY rise in pretax profits from CLP1.077bn (US$1.79m) to CLP4.855bn in the first nine months of 2014, according to ValorFuturo news service. However, revenues fell by six per cent to CLP142.793bn from CLP151.956bn over the period. Nevertheless, the cost of sales came in at CLP95.1bn, about five per cent lower than the figure recorded for 9M13 (CLP100.6bn). |
China: Zhongxia Cement joint venture established28 November 2014, Published under Cement NewsChina Gezhouba Group reports that its wholly-owned subsidiary Gezhouba Group Cement signed an agreement with Hubei Zhongxia Cement on 26 November, for a joint venture company that will restructure the businesses and assets of Zhongxia Cement. The venture, with a registered capital of CNY1.17bn (US$190.4m), will be engaged in production and sales of cement, clinker and fine slag powder and opencast mining of limestone for cement use. Gezhouba Cement will hold 51 per cent of the company thro... |
UK: Hanson appoints new national cement sales manager28 November 2014, Published under Cement NewsMark Hickingbottom has been appointed Hanson bulk cement national sales manager. Mark has been with the company for over 10 years and will be responsible for managing Hanson's UK sales team. “This is an exciting role and I am looking forward to building on our position as a leading supplier of bulk cement products,” said Mark, who has a BA (Hons) degree in Business Management and is an associate member of The Institute of Concrete Technology. Mark has extensive sales and marketing experien... |
Mexico: Elementia IPO in 1Q1527 November 2014, Published under Cement NewsEduardo Musalem, Elementia’s CEO, said the Mexican cement company is looking to list shares during the 1Q15 if market conditions are good. "We are ready to debut in the market," said Mr Musalem. "It could be the end of January, if the posibility exists, or February or March." Elementia agreed to buyout Lafarge’s 47 per cent in the joint venture company in September 2014. Billionaire Carlos Slim is reported to have an about 46 per cent share in Elementia though Grupo Carso. |
Russia: BaselCement’s Pikalyovo plant to modernise27 November 2014, Published under Cement NewsLeningrad region's BaselCement Pikalyovo plans to raise RUB8bn (EUR138.81m/US$173.16m) in loans to pay for modernisation. The funds will be spent to upgrade production to switch to a new cement-making process and reduce the cost of natural gas. Its railway transportation to the enterprise will be subsidised by the state. The approved amount of the subsidies totals RUB290bn in 2014. |
Anhui Conch Cement Co26 November 2014, Published under Cement NewsAnhui Conch has entered into a joint venture (JV) with Myanmar-based Myint Investment Group Co Ltd to upgrade the No. 33 Kyaukse cement factory, located in Myanmar’s Mandalay division. The JV, to be known as Myanmar Conch Cement Co Ltd, is hoping to increase production at the plant from its current 400tpd to 5000tpd. According to the Myanmar Ministry of Industry, a build-operate-transfer (BOT) system will be used to finance the project. The JV was officially approved by the Directorate of... |
Cementos Argos26 November 2014, Published under Cement NewsIn 9M14 Cementos Argos has seen cement sales volumes grow by nine per cent compared to the same period in 2013. Revenue is also up 16 per cent, driven primarily by strong performances in the company’s US region as well the Caribbean and Central American division. EBITDA over the period rose eight per cent reaching US$415m, while net profit expanded by 69 per cent. In the US market, cement dispatches in 9M14 grew 59 per cent with notable increases in Georgia (+24 per cent), Florida (+22 per... |
Dangote Cement26 November 2014, Published under Cement NewsDangote Cement has reported a 1.5 per cent rise in pretax profit in 9M14 to NGN154.05bn (US$930.7m). Revenue also grew over the period, up from NGN288.98bn in 9M13 to NGN310.21bn this year. The company has said that capex expenditure for 2015 will come in around US$700m, compared to a budget of US$1.4bn in 2014. The fall marks the completion of a number of African expansion projects including a new plant in Senega, where commissioning is underway, and a new works in Ethiopia, which is due... |
PT Indocement Pati plant delayed26 November 2014, Published under Cement NewsThe development of PT Indocement's project for a greenfield plant in Pati regency, Central Java, which was scheduled to start in 2016, is now likely be postponed for two years, according to a company executive. “Although currently its environmental impact analysis [Amdal] document has been completed and only has just to wait for permission from the regent, its construction is expected to commence in 2018,” PT Indocement Tunggal Prakarsa vice president director, Franciscus Welirang, said af... |