Cement News tagged under: corporate
Semen Indonesia set to start construction of new Rembang plant18 February 2013, Published under Cement NewsSemen Indonesia is set to start construction of a new 2.5Mta cement factory in Rembang, Central Java, according to local press reports. “The construction of the plant will be started in the first quarter of 2013 and will go on until the first quarter of 2016,” Dwi Soetjipto told local news portal Liputan 6.com which was later reprinted in the Jakarta Globe. According to Dwi, the civil work, installation of equipment as well as electrical systems will be carried out by domestic contract... |
Raysut Cement’s 2012 net profit rises 64.1%, Oman18 February 2013, Published under Cement NewsRaysut Cement, Oman’s largest cement producer, reported a 64.1 per cent YoY growth in net profit for 2012 and revenues also increase fuelled by increasing demand. Net profit for the 12 months to the end of December 2012 reached OMR24.5m (US$63.6m) against OMR14.95m reported in 2011 as RCC booked an investment gain of OMR1.36m. Revenues also rose 10.7 per cent to OMR92.8m from OMR83.81m in the same period of last year. Oman’s cement sector, which was earlier facing problems because of t... |
Quinn and Lagan call off merger plans18 February 2013, Published under Cement NewsLagan and Quinn Building Products have abandoned plans for their proposed joint venture. Last December, the two companies announced that they had signed a memorandum of understanding which would combine their cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Quinn Tarmac and Lagan Sand were not included in this proposal. However, in a joint statement released on Friday, the two firms said... |
India: JK Lakshmi hit by slower demand, higher costs18 February 2013, Published under Cement NewsJK Lakshmi has reported subdued performance for the third quarter of the current fiscal year due to high freight costs and flat growth in dispatches. Profits declined by 16 per cent to INR41 crore YoY in the quarter ending December 2012 and lower construction activity led to a 2.7 per cent increase in dispatches. Rising diesel and freight costs also negatively affected results and, due to lower demand, the company was unable to pass on costs to consumers. JK Lakshmi, which operates... |
Cemex details plans to raise EBITDA to US$4.7bn by 201615 February 2013, Published under Cement NewsAt its 2013 Cemex Day, Cemex set out its ambitious target to increase its EBITDA from US$2.6bn in 2012 to US$4.7bn in 2016 as the company charts its recovery. The plans of the Mexico-based cement major are supported by three main pillars. Firstly, a recovery in volumes accounts for US$1.4bn of the advance. In addition, Cemex intends to be more disciplined on pricing in future, budgeting a US$1bn price increase over variable cost rises and restrict the advances in fixed costs to US$0.3bn duri... |
Vulcan looks for further improvements in 201315 February 2013, Published under Cement NewsVulcan Materials' turnover edged up by 0.1 per cent last year to US$2567.3m, marking the second consecutive year of virtually static sales. EBITDA, again little changed, eased by 0.4 per cent to US$423.5m. Excluding exceptional exchange offer costs, the EBITDA increased by 9.2 per cent to US$466.8ms. After a net interest charge 2.4 per cent lower at US$211.9m, the pre-tax loss was again reduced by around one-fifth to US$120.4m and the net loss came down by 25.7 per cent to US$52.7m. Capi... |
India Cements looks to construct new line in Rajasthan15 February 2013, Published under Cement NewsIndia Cements is studying the possibility of expanding capacity in Rajasthan to cater for growing demand in the neighbouring states of Gujarat and Madhya Pradesh. Mr N Srinivasan, vice chairman and managing director, India Cements told Business Standard that the company is “examining whether we can expand the capacity at Rajasthan plant". The Rajasthan plant’s current capacity is 1.3Mta and the company is aiming to add another kiln line of similar capacity to serve the markets of Gujar... |
Mixed results for Ukrainian producers15 February 2013, Published under Cement NewsTwo of Ukraine’s leading cement producers have reported a mixed set of full year 2012 results. Volyn Cement ended 2012 with a net profit of UAH4.032m, according to preliminary data published by Ukrainan News. In 2011, it saw its net revenues up 50.72 per cent or UAH 219.35m to UAH651.838m, comparing with 2010. Volyn Cement is a subsidiary of Dyckerhoff of Germany and operates two integrated works with a combined capacity of 3Mta. Podilskyi Tsement reported a loss of UAH101.418m for ... |
Taiheiyo wins Bangladesh logo case15 February 2013, Published under Cement NewsJapanese cement producer Taiheiyo Cement Corp has won a court case in Bangladesh for the use of its logo by local cement manufacturers. The Bangladesh District Judge, Dhaka, issued an order on 29 January 2013 stating that the "Defendants Nos 1-4 (Bengal Tiger Cement Industries Ltd and Others) be restrained from using the Trademark and Trade Name of the Plaintiff-petitioner (Taiheiyo Cement Corporation, Japan)." Bengal Tiger Cement Industries Ltd of Bangladesh was alleged producing, mar... |
Lagan Group responds to threat over proposed merger15 February 2013, Published under Cement NewsThe Lagan Group has called in the Police Service of Northern Ireland (PSNI) to investigate the circumstances surrounding the receipt of a package containing a bullet which was addressed to the company’s Chief Executive, Kevin Lagan, the company said in a statement. Lagan Cement Group recently signed a memorandum of understanding with Quinn Building Products that may lead to a joint venture between the two groups which would combine their cement and building products businesses based in B... |