Cement News tagged under: corporate
Martin Marietta boosted by TXI acquisition29 October 2014, Published under Cement NewsMartin Marietta Materials, with a three-month contribution from Texas Industries (TX)I, increased turnover by 30.5 per cent to US$2101.6m in the first nine months of the calendar year, while EBITDA almost doubled by rising by 99.2 per cent to US$565.4m. The trading profit rose by 26.5 per cent to US$196.3m and the net interest charge was 10.8 per cent higher at US$45m. Pre-tax profit advanced by 31.1 per cent to US$150m, but the tax charge just over doubled. This left the net profit 6.7... |
Saudi Arabia: Tabuk third-quarter profit down 24%29 October 2014, Published under Cement NewsTabuk Cement Co recorded SAR21.6m (US$5.76m) net profit in the third quarter of 2014, a decline of 23.94 per cent YoY from SAR28.4m. On a quarterly basis, net earnings were down 49.88 per cent from SAR43.1m. In the first nine months of 2014, net profit amounted to SAR108.7m, down 19.66 per cent compared with SAR135.3m a year earlier. |
Holcim and Lafarge formally notify EC28 October 2014, Published under Cement NewsLafarge and Holcim have formally notified the European Commission (EC) of their proposed merger to obtain regulatory approval and have made slight changes to the list of assets being disposed in Europe. During the pre-notification discussions which Lafarge and Holcim have had with the European Commission, the list of proposed assets for divestment in Europe has been slightly amended. Compared with the list of assets presented on July 7, 2014, the two companies now propose to: • retain Lafa... |
CIMAT to invest in new kiln and grinding plant28 October 2014, Published under Cement NewsFollowing the strong demand in the Gabon cement market, domestic producer CIMAT will install “a latest-generation kiln with a production capacity between 3600-4000tpd. The installation will be in line with international European standards, necessary to produce high-quality cement,” said the company in a statement. The Gabon cement producer is also investing XAF23bn (US$44.5m) in the construction of a new grinding centre and bagging plant in Owendo. It is expected that the additio... |
Peru: Cementos Pacasmayo profits fall 17% in 3Q1428 October 2014, Published under Cement NewsCementos Pacasmayo reported a YoY drop in net profit of 17 per cent for 3Q14 as cement dispatches fell due to the deceleration in Peru’s economy. In the July-September quarter, the company’s profit fell to PEN40.5m (US$14m) from PEN48.8m in 3Q13. Net sales fell six per cent YoY to PEN316.2m from PEN336.4m in 3Q13. Cost of sales decreased 7.3 per cent to PEN276.2m as did output, which saw a fall of 7.5 per cent to 578,000t. However, in 9M14, Cementos Pacasmayo’s profit reached PEN121.3m,... |
CNBM to acquire stake in Shanshui Cement28 October 2014, Published under Cement NewsChina National Building Material Co (CNBM) is set to acquire a 20 per cent stake in Shanshui Cement Group for HK$1.56bn (US$201m). Shanshui Cement will sell 563.2M new shares at HK$2.77 each, according to a statement to the Hong Kong stock exchange yesterday. Shanshui said it plans to use the proceeds to replenish working capital, reduce its debt level and improve efficiency. In a separate filing, CNBM said that the deal will promote cooperation with Shanshui and the “healthy development... |
Kohat Cement 1QFY15 net profit up 11% YoY28 October 2014, Published under Cement NewsPakistan-based producer Kohat Cement posted a net profit of PKR683m (US$6.6m) in the three months to the end of September 2014, up 11 per cent YoY. The company attributed the higher earnings to better income on cash placements and lower financial charges, Sherman Securities reported on Monday. During the first quarter of FY15, sales revenue increased by 11 per cent to PKR2.9bn amid higher cement prices and slight increase in volumes which were up by five per cent YoY. On the other h... |
Kenya: EAPCC swings to full-year loss27 October 2014, Published under Cement NewsEast African Portland Cement posted a net loss of KES386m (US$4.32m) for the year ended June 30, due to price competition, high staff costs and the weakening shilling. The Kenyan cement producer posted a net profit of KES1.7bn a year earlier. The company said its administrative costs had gone up by KES700m following a restructuring of its management, staff compensation and an increase in staff gratuity, Reuters reported. |
SCG earmarks new five-year investment budget27 October 2014, Published under Cement NewsSiam Cement Group (SCG) has earmarked THB200-250bn for a new five-year investment budget starting next year, the Bangkok Post reports. Chief executive and president Kan Trakulhoon added that the company is eyeing investment in a tech company that could complement SCG's core businesses. "The company we're talking with at the moment is a technology company in Europe," Mr Kan said. The focus will be technology related to core businesses such as material sciences, paper and petrochemicals. |
QNCC nine-month net profit ahead27 October 2014, Published under Cement NewsQatar National Cement Company (QNCC) net profit rose to QAR332m (US$91.2m) in the first nine months of 2014, up 3.1 per cent from the QAR322m posted a year earlier. Earnings per share (EPS) rose to QAR 6.76 from QAR 6.56. Total assets at end-2014 increased to QAR2.85bn from QAR2.78bn at the beginning of the year. |