Cement News tagged under: corporate
Holcim Philippines to tap debt market27 May 2013, Published under Cement NewsHolcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from internally generated income while the bulk will come from the debt market, most likely from local sources. The company will decide how much to raise during the fourth quarter of this year. “We have no debt at the... |
San Miguel Corp outlines expansion plans, Philippines24 May 2013, Published under Cement NewsIndustrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president, Ramon S Ang, some US$250m will be used to increase capacity of NCC’s Pangasinan plant, while another US$250m will be used to build a new plant in Southern Luzon. The remaining $250m will be utilised for the new plant in the province of Cebu. "SMC plans to put up more cement ... |
Gharibwal Cement sees strong rise in quarterly profit, Pakistan24 May 2013, Published under Cement NewsPakistan-based cement producer Gharibwal Cement Ltd reported a net profit of the company was PKR178m compared to PKR32.5m for the same period last year, thanks to an increase in sales volumes, net retention prices and cost control. Net sales of the company during the period were PKR1.77bn (US$18m) compared to PKR1.5bn during the same period of last year. Gross profit was PKR338m compared to PKR313m in the previous year, while the profit before tax was PKR188m against PKR47.8m in the compa... |
OCC confirms imported cement quality probe, Oman24 May 2013, Published under Cement NewsOman Cement Company (OCC) has confirmed that the country's Public Authority for Consumer Protection (PACP) has initiated an investigation on the quality of 30,000t of cement imported by the sultanate's second-largest producer. In a filing to the Muscat Securities Market (MSM) on Wednesday, the company said that a team from the PACP visited its premises to inspect the cement it imported and purchased locally and blended with its own cement. According to the OCC filing: "The [PACP] team co... |
Holcim Apasco to be renamed24 May 2013, Published under Cement NewsHolcim Apasco is to be renamed Holcim México in order to unify the "brand and strengthen its presence as a global leader in the Mexican market," Holcim Latinoamérica's CEO Andreas Leu was quoted as saying by local publication El Universo. Holcim Apasco is Mexcio's second largest cement company with seven plants and a 12.6Mta capacity including the new 1.6Mta Hermosillo works in Sonora, north of the country. In the first three months of the year, Holcim Apasco in Mexico saw domestic cem... |
Lafarge Malayan Cement 1Q13 revenues edge ahead23 May 2013, Published under Cement NewsLafarge Malayan Cement reported a YoY slight rise in consolidated revenue for the first quarter of 2013 but income from its cement division was impacted by a tough pricing environment. Its 2013 results are expected to be driven by key government infrastructure projects led by the Economic Transformation Programme (ETP) and 10th Malaysia Plan (10MP) and the company is also considering expanding capacity. Consolidated revenues for the first quarter of 2013 were MYR644.9m (US$212m), slightl... |
Morocco’s cement demand falls 16.5% in first four months23 May 2013, Published under Cement NewsDuring the first four months of the year, cement demand in Morocco fell by 16.5 per cent from 6Mt to just under 5Mt as the start of the year was affected by heavy rainfall, according to the country’s cement association. In addition, faltering demand from key consumers sent sales on a downward trend. A new tax regime relating to the income of sale of land further restrains the real estate market as does the lower level of self-construction projects. Geographically, the Tadla-Azilal and T... |
Hail Cement increases quarterly net loss, Saudi Arabia23 May 2013, Published under Cement NewsSaudi cement producer Hail Cement Co has reported a net loss of SAR13.9m (US$3.7m) for the first quarter of 2013, double the loss recorded in the same period a year ago of SAR6.3m. The company attributed the loss to higher expenses related to launching production, coupled with higher salary costs due to the growing number of employees. Newcomer to the Saudi cement industry, Hail Cement’s 1.65Mta plant, located in the north of the kingdom, is scheduled to come on-stream in the third quarter... |
Reliance Infrastructure second plant set for September commissioning22 May 2013, Published under Cement NewsReliance Infrastructure is planning to commission its second cement plant by September this year. The new unit, which will have an annual capacity of 5Mt is being constructed in Maihar, Madhya Pradesh. Speaking on the company's new plant and future expansion plans, Lalit Jalan, chief executive officer of Reliance Infrastructure, said: We plan to take our overall capacity to 20Mta and commission the second plant in Maihar, Madhya Pradesh, by September this year. The company’s vision is ... |
HeidelbergCement India sells grinding unit to JSW Group22 May 2013, Published under Cement NewsHeidelbergCement India has sold its 0.6Mta grinding facility in Raigad, Maharashtra, to the JSW Group, the company has informed the Bombay Stock Exchange. The acquisition is situated adjacent to the company’s steel plant and will allow JSW to use slag from its steel process in the grinding process. For HeidelbergCement, the disposal of cement facility is in line with company’s aim of divesting less strategic assets with lower margins to focus on more strategic and key operations in Centra... |