Cement News tagged under: corporate
Vicat03 May 2013, Published under Cement NewsVicat's first-quarter turnover was ahead by 1.2 per cent to €491m, which represents an underlying improvement of 2.7 per cent. The cement turnover was up by 1.8 per cent to €304m, with cement shipments advancing by eight per cent to 4.1Mt. Turnover in concrete and aggregates rose by 6.7 per cent to €181m as aggregates shipments rose by 10.1 per cent to 4.73Mt and ready-mixed concrete deliveries jumped by 21.7 per cent to 1.80Mm³. Other products and services registered a 0.4 per cent increase... |
Increased capacity boosts Fauji Cement's nine-month profit, Pakistan02 May 2013, Published under Cement NewsPakistan-based cement producer Fauji Cement Company reported a 26 per cent rise in volumes for the first nine months of FY13 boosted by its new production line. Rising net retention prices helped the company record topline growth of 56 per cent to PKR11.6bn against PKR7.5bn in the comparative period of last year. The company said that revenue per ton rose by 24 per cent to PKR6311 compared to PKR5082/t during the same period of the previous year. The company achieved sales of 1.85Mt in the... |
Dangote sees strong start to second quarter, Nigeria02 May 2013, Published under Cement NewsNigeria’s largest cement producer, Dangote Cement, has said strong demand in April is likely to help boost second-quarter revenue to NGN98.5bn (US$623.3m). However, the start-up of its long-awaited plant in Senegal is facing further delays due to land issues. Dangote said in a statement that pretax profit is expected to reach NGN50.6bn (US$320m). First-quarter net income rose 81 per cent to NGN53.7bn as volumes rose by 38 per cent. “The year has begun well for Dangote Cement and our 38 p... |
Saudi cement producers urged to maintain reserve supplies02 May 2013, Published under Cement NewsThe government of Saudi Arabia is urging cement companies to maintain a strategic stockpile of cement to prevent future shortages. A directive to this effect was issued by the Commerce and Industry Minister Tawfiq Al-Rabiah, according to local press reports. Each company has has been asked to build up a strategic reserve (equaling a company’s two-month output) in addition to regular market supplies. Companies may face punitive action if they failed to adhere to the latest directives, the... |
Barclays lowers China's 2013 pricing forecasts02 May 2013, Published under Cement NewsBarclays has reduced its forecasts for cement prices in China this year to +2 per cent from the previous +5 per cent, according to reports by Dow Jones. It has therefore cut its 2013 earnings per share estimates for cement companies by 1-20 per cent to reflect the lower price realisations, which will be partly offset by lower coal prices and higher sales volumes estimates. Barclays says that its positive view on the improving supply/demand situation in 2013 is unchanged and the near-term po... |
Lucky Cement's nine-month net profit ahead, Pakistan01 May 2013, Published under Cement NewsLucky Cement, has reported a 49 per cent YoY rise in net profit for the first nine months of FY13 as Pakistan’s largest cement producer by capacity is boosted by higher prices. For the nine month period ending March 2013, the company reported a profit of PKR6.98bn. The company's local cement dispatches rose 2.8 per cent YoY to 2.77Mt while export sales declined by 1.1 per cent YoY to 1.66Mt. Total dispatches stood at 4.43Mt, up by 1.3 per cent. Higher retention prices drove the top-lin... |
Baring Asia in talks with Lafarge India for minority stake01 May 2013, Published under Cement NewsPrivate equity firm Baring Asia is said to be in advanced talks with Lafarge India to invest about US$240m for a minority stake, according to reports by Reuters. The deal is likely to be announced soon, two sources with direct knowledge of the deal told Reuters. Lafarge is raising capacity of its Indian arm to fund the expansion, according to one of the sources. Local press say that the stake could be around 14-15 per cent worth US$261m. Lafarge currently has four cement plants in India: ... |
Cementos Yura opts for another Loesche mill, Peru01 May 2013, Published under Cement NewsPeruvian cement producer Cementos Yura has placed an order with Loesche America Inc for a clinker/additives grinding plant to installed at its Arequipa plant, Peru. Based on good and long-term experience with an existing Loesche Mill Type LM 56.2+2 C/S, Yura has once again selected this type of vertical roller mill to be installed at the plant, which is situated 2600m above sea level. The mill will be part of a clinker/pozzolana dry-grinding plant for which Loesche is supplying the main mec... |
Oman Cement Company's net profit boosted by higher demand30 April 2013, Published under Cement NewsOman Cement Company (OCC) achieved a 34.89 per cent advance in net profit as growth in government spending for infrastructure projects drives cement demand. The Sultanate's second-largest cement producer said net income rose to OMR6.94m (US$18m) for the first quarter of 2013. Sales revenue also rose 12.07 per cent to OMR15.65m from OMR13.96m a year earlier. Production soared by 17.24 per cent to 637,269t for the first three months of 2013, from 543,544t for the same period last year. Cl... |
BBMG Corporation to acquire stake in Hebei Taihang Xuaxin, China30 April 2013, Published under Cement NewsBBMG Corporation has entered into an agreement to acquire a 66.67 per cent stake in Hebei Taihang Xuaxin Building Materials Co from BBMG Group Company Ltd. The transaction is valued at CNY131.88m (US$21.15m) in cash and will be paid by BBMG to BBMG Group Company within 15 days after the date of the equity transfer agreement. |