Cement News tagged under: corporate
Unye Cimento to open Romanian branch23 January 2014, Published under Cement NewsTurkish cement producer Unye Cimento Sanayi ve Ticaret is to open a branch for the import, export and sale of bulk and bagged cement in Romania’s Black Sea town of Mangalia, the company said. The branch will take over the operations of the company’s Romanian unit Unye Cem SRL, Unye Cimento said in a bourse filing on Tuesday, without providing further details. |
Huaxin expects strong rise in full-year net profit, China22 January 2014, Published under Cement NewsHuaxin Cement expects net profit to increase by between 105-125 per cent YoY in 2013 compared to a profit of CNY556m in 2012 when it suffered from severe pricing competition. The Hubei Province-based producer, part of the Holcim Group, attributes the profit growth to increasing sales and reduced production costs. |
Sai Son Cement reverses losses, Vietnam22 January 2014, Published under Cement NewsVietnamese producer Sai Son Cement (SCJ) swung to a net profit of VND7.1bn (US$80,648) in the fourth quarter of 2013 after a net loss of VND2bn in the same period the year before. Revenue amounted to VND104bn (US$4.93m) in the final quarter of last year, compared to VND72bn over the same period of the previous year. For the full year, SCJ reported VND7.6bn net profit on revenue of VND320bn compared to a loss of VND12bn in net profit and VND251.3bn revenue, respectively. |
Egyptian court accepts Assiut appeal21 January 2014, Published under Cement NewsAn Egyptian court has accepted an appeal by Assiut Cement, overruling a decision to annul an agreement under which Cemex acquired a controlling stake in the Egyptian unit. The case has now been referred to an administrative court, a Cemex official has said. In 1999, Cemex bought a controlling stake in Assiut Cement from Egypt’s state-owned Metallurgical Industries Holding Co as part of the government's wider privatisation drive at the time. Two former Assiut employees, who were among wo... |
Bim Son Cement sales reach 3.9Mt in 201321 January 2014, Published under Cement NewsVietnam-based producer Bim Son Cement JSC (BCC) sold 3.9Mt of cement and clinker in 2013, comprising 3.4Mt of cement and 588,000t of clinker. The company’s clinker output was more than 3.9Mt last year. Its revenue rose by 0.6 per cent YoY to VND3.8trn, the Dau Tu newspaper reported. For this year, Bim Son Cement targets output of more than 3Mta of clinker, while cement and clinker sales will hit 4Mt, including 3.8Mt of cement. Revenue for 2014 is expected to reach VND4.1trn. |
UltraTech quarterly profit hit by subdued demand20 January 2014, Published under Cement NewsUltraTech Cement, the leading cement producer in India, reported a 38.43 per cent decline in net profit for the last three months of 2013 as sluggish demand leads to a weaker pricing environment. Net profit during the October-December quarter fell to INR370 crore compared to INR601 crore in the same period of 2012. Net sales in the three month period also declined marginally to INR4786 crores compared to INR4857 crore in the comparative quarter the year before. Domestic cement and cl... |
Tabuk full-year net earnings decline, Saudi Arabia20 January 2014, Published under Cement NewsTabuk Cement' FY13 net earnings decreased 5.86 per cent in 2013 to SAR173.4m (US$46m) from SAR184.2m the year before. The Saudi-based producer said net earnings in the fourth quarter of 2013 also fell by 16.26 per cent YoY to SAR38.1m (US$10.2m) compared to SAR45.5m in the comparative period of 2012. |
Jidong sees strong rise in 2013 net profit20 January 2014, Published under Cement NewsTangshan Jidong Cement Co Ltd expects net profit to be between CNY306m and CNY360m (US$50.6m-59.48m) in 2013, a YoY increase of 70 per cent to 100 per cent, the company said. The Hebei Province-based cement manufacturer attributes the profit growth to an improved reduction in production costs and increasing sales volume. |
UK regulator demands domestic shake up17 January 2014, Published under Cement NewsThe structure and conduct of the UK cement sector restricts competition, costing consumers around GBP50m annually, and therefore requires decisive market intervention, according to the conclusions of the two-year investigation by the UK’s Competition Commission published this week. The investigation did not, however, identify any problems with the markets for aggregates or RMC. The Commission’s report sets out a series of remedies it claims will increase competition in an effort to provide... |
CRH16 January 2014, Published under Cement NewsCRH spent a total of EUR960m on acquisition and development during 2013. In addition to the previously-announced acquisitions in Ukraine and India, the 26 per cent-owned associate Yantai Group Building Materials in China acquired Zhongbei in northeastern China, which has the ability grind 4.8Mta of cement and 1.5Mta of slag. This brings Yantai's cement capacity to approximately 32Mta. Furthermore, the North American materials operations were extended by 10 aggregates operations, six batc... |