Cement News tagged under: corporate
EAPCC pretax profit hit by rising costs27 March 2014, Published under Cement NewsEast African Portland Cement Co (EAPCC) said on Wednesday its pretax profit more than halved for the six months ended December due to rising administration and sales costs. Portland's pretax profit fell to KES171m (US$2m) from KES376.5m in the same period in 2012. The Kenyan firm, which also operates in Uganda, said its total revenues rose 0.4 per cent to KES4.57bn, while cost of sales increased 1.4 per cent to KES3.25bn. Administration and selling expenses rose to KES1.26bn from KES1b... |
Anhui Conch Cement Co27 March 2014, Published under Cement NewsAnhui Conch has announced a pre-tax profit for 2013 of CNY12.67bn (US$2.04bn), compared to CNY8.13bn in the previous year. Revenue was also up, rising by 20.75 per cent to CNY55.26bn. Net profit attributable to equity shareholders increased by 48.3 per cent to CNY9.38bn, while earnings per share grew by 48.3 per cent to CNY1.77. “In 2013, under the complex macro-economic environment, the group proactively responded to the intense competition in the cement market by adjusting its marketing... |
Gresik inks loan facility for Rembang construction27 March 2014, Published under Cement NewsPT Semen Gresik, part of the Semen Indonesia group, has as secured a letter of credit (L/C) facility to help finance the construction of its Rembang greenfield works in Central Java, Indonesia. The facility agreement, worth INDR1.4trn (US$122.53m), was signed on Friday by Semen Gresik president director Gatot Kustyadji and state lender Bank Mandiri institutional banking director Abdul Rachman. Under the deal, Mandiri has agreed to issue L/Cs to Semen Gresik for the next 42 months to suppor... |
PT Semen Indonesia27 March 2014, Published under Cement NewsState-owned cement producer, Semen Indonesia, has secured an IDR1.4trn (US$123m) non-cash loan from Bank Mandiri to purchase equipment for its new plant in Rembang, Central Java. The plant, which is already under construction, will have a production capacity of 3Mta and will require an investment of IDR3.7trn until 2016. The company is also in talks with the bank for another loan for its proposed plant in Indarung, West Sumatra, which requires an investment of IDR3.2trn. The company repor... |
Dangote Cement27 March 2014, Published under Cement NewsDangote Cement has recalibrated all three of its Nigerian plants (Ibese, Gboko and Obajana) to produce only 52.5 grade cement. The move follows concerns that sub-standard cement is responsible for a spate of building collapses. According to Dangote, it is the only company in Africa to produce this standard and will be selling it at the same price as the lower grade 42.5N type “to make it affordable to all.” The move comes as Devakumar Edwin, CEO at Dangote Cement, has called for a massive... |
UltraTech Cement27 March 2014, Published under Cement NewsUltraTech’s plans to establish new plants in Uttarakhand, northern India, and Myanmar have hit stiff opposition this month. In Myanmar, residents in the Lun-Nya area, where the proposed cement plant is to be located, have raised concerns over potential health and environmental issues. According to residents, the two military-owned cement factories at nearby Myaing Kalay have made locals sick and no compensation has been forthcoming for damage to the surrounding land. Meanwhile in India... |
PPC27 March 2014, Published under Cement NewsWith construction already underway on its new 1.4Mta plant in Ethiopia, PPC will be hoping to cash in on the billions of dollars of public works projects being carried out across the country. As the Ethiopian government pushes ahead with plans to achieve middle-income status by 2025, new road, railway and power generation projects are springing up everywhere in a bid to attract further investment and help industrialise the economy. But cement production capacity remains woefully insuffici... |
Conch full-year net profit rises 48.3%26 March 2014, Published under Cement NewsAnhui Conch Cement Co reported a 48.3 per cent YoY increase in profit attributable to shareholders during 2013 to CNY9.38bn (US$1.5bn) from CNY6.33bn a year ago. Turnover increased 20.75 per cent to CNY55.26bn from CNY45.77bn in 2012. In accordance with PRC Accounting Standards, the group’s revenue amounted to CNY55.3bn, a YoY increase of 20.28 per cent. Sales by region Clinker and cement sales amounted to 228Mt, representing growth of 21.95 per cent YoY. Sales volumes in East and Cent... |
Dalmia to acquire Jaiprakash Bokaro stake25 March 2014, Published under Cement NewsJaiprakash Associates Ltd (JAL) is to sell its 74 per cent stake in its Bokaro Cement joint venture to Dalmia Cement (Bharat). Bokaro Cement is a 74:26 per cent collaboration between JAL and the Steel Authority of India (SAIL). The acquisition involves a 2.1Mt cement unit at Bokaro situated in the eastern Indian state of Jharkhand. The joint venture has a 30-year clinker supply arrangement with JAL and a slag supply arrangement for the same period with SAIL. "With this acquisition, D... |
Cemex announces offering of senior secured notes25 March 2014, Published under Cement NewsCemex announced today that Cemex Finance LLC (the Issuer), an indirect wholly-owned subsidiary of Cemex España, intends to offer senior secured notes in one or more series denominated in euros, subject to market and other conditions. Contemporaneous with the offering of the euro notes, the Issuer also may offer senior secured notes in one or more series denominated in US dollars, subject to market and other conditions, the company said in a statement. Cemex intends to use the net proceeds... |