Cement News tagged under: international
Ecuador: new state-owned cement consortium to concession cement plants28 October 2009, Published under Cement NewsEcuador’s state-controlled cement consortium Consorcio Cementero Nacional will launch concession projects to increase the number of cement plants in the country. Consorcio Cementero Nacional, to be formed by local cement firms Chimborazo y Guapán, will increase cement supply in Ecuador to cover the country’s public works needs, the government reported in a release. The consortium will sign a number of BOT (build, operate and transfer) concession contracts with international firms to increa... |
Kenya’s Bamburi says won’t sell EAPC shares28 October 2009, Published under Cement NewsKenya’s Bamburi Cement has no plans to sell its stake in rival East African Portland Cement (EAPC) after exiting another competitor, Athi River Mining the company said on Tuesday. Bamburi sold more than 11 percent of Athi River through the Nairobi Stock Exchange last week in a series of transactions seen by analysts as proof there was appetite for Kenyan equities despite a poor run this year. "No, both businesses are quite strong and have solid growth plans," the company said in statement ... |
Cemex 3Q turnover down 31%28 October 2009, Published under Cement NewsIn the first nine months of the year, Cemex’ turnover fell by 31.1% to US$12,036m, which represented an underlying reduction of some 18% after adjusting for divestments, notably Venezuela and the Canary Islands, and exchange rate movements. The EBITDA declined by 35.6% to US$2,324.2m, representing an underlying reduction of about 22%. At the trading level, the profit reduction amounted to 47.3% to US$1,142.9m and while the net interest charge was 1.3% lower at US$664.8m. Higher losses on fi... |
GCC 3Q results, Mexico28 October 2009, Published under Cement NewsGrupo Cementos de Chihuahua, S.A.B. de C.V. announced consolidated results for the quarter ended September 30, 2009. Consolidated net sales rose 6.9% and 7.9% in the third quarter and first nine months of 2009 respectively, compared to the same periods of last year. Similarly, EBITDA rose 9.5% and 3.5% in the third quarter and nine months over the year ago periods. EBITDA margin was 32.5% in the third quarter, higher than in the same period of last year. Free cash flow was 73.8% and 169.2... |
Union Cement 3Q net drops 69%, UAE27 October 2009, Published under Cement NewsUnion Cement Co said third-quarter profit plummeted 69 per cent as sales halved. Net income dropped to AED10.8m, or AED0.016/share, from AED35.4m, or AED0.053, a year earlier, the company said in a filing to the Abu Dhabi bourse today. Sales for the three-month period fell 49 per cent to AED152m, the filing shows. |
Athi River Mining to invest in Kenya and Tanzania27 October 2009, Published under Cement NewsAthi River Mining (ARM) Limited has announced an investment of more than KES12.5bn (US$166m) for expansion of its cement making facilities in Kenya and Tanzania. The ambitious expansion program is scheduled to be completed by 2010 and is expected to significantly increase cement production capacity to meet growing demand in the region. The company’s Managing Director Pradeep Paunrana said that the company will double the capacity of its cement plant at Kaloleni in Mombasa to over 750,000tp... |
Anhui Conch Cement 3Q net rises 33%27 October 2009, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement maker by output, said Monday its third-quarter net profit rose 33% from a year earlier because of higher cement prices and stronger demand resulting from infrastructure and property construction. Hong Kong- and Shanghai-listed Anhui Conch said its unaudited net profit for the three months ended September 30 was CNY937.9m, up from CNY704.3m a year earlier, according to Chinese accounting standards. Its third-quarter revenue fell slightly to CNY6... |
Oman Cement posts 57 per cent rise in 9M profit27 October 2009, Published under Cement NewsOman Cement Co posted on Tuesday a net profit of OMR19.1m (US$49.61m) for the first nine months of the year, up 57 per cent from the same period last year. The company earned third quarter net profit of OMR7.9m, according to Reuters calculations, versus profit of OMR3.2m in the prior-year period. The firm did not provide a breakdown of its results. Oman Cement had total sales of OMR52.7m in the first nine months of 2009, up from OMR44m last year, according to a statement on the Muscat bour... |
Birla profits up, more expansion planned27 October 2009, Published under Cement NewsBirla Corp Ltd has posted nearly a three times rise in its July-September net profit on higher cement sales and lower fuel prices. It reported a net profit of INR1.52bn for the quarter, up from INR597m a year ago. Net sales were also higher by 36 per cent at INR5.06bn as against INR3.71bn a year ago. "The improved realisation in the cement division, higher sales coupled with softening of fuel prices and reduction in various costs, contributed to higher profitability," it said in a stateme... |
Egypt to offer 5 or 6 cement licences: minister27 October 2009, Published under Cement NewsEgypt will offer five or six new cement production licences in the coming few months to meet higher demand, Trade Minister Rachid Mohamed Rachid said on Tuesday. "We need more cement companies, and in the next few months we will issue some new licences," he told reporters. When asked how many, he said: "It will be around five to six." The licences are new, and not ones that have expired. Last month Rachid said in an interview Egypt would grant new cement production licences if demand cont... |