Cement News tagged under: international
DG Khan Cement profit declines by 159%, Pakistan27 February 2008, Published under Cement NewsDG Khan Cement has registered after tax profit of Rs 329.661m in first half 2007-08 compared to Rs 854.556m in the same period last year, depicting a decline of 159 per cent. The results of the company are in line with the analysts’ expectations. Lower retention prices, higher per tonne cost and significant upsurge in financial charges were the main reasons behind declining profits. Company’s earnings per share (EPS) also dropped as basic and diluted EPS fell to Rs 1.30 and Rs 1.30 compared... |
Kenya’s Bamburi Cement pre-tax profits up 42 per cent27 February 2008, Published under Cement NewsKenya’s Bamburi Cement Group, majority owned by Lafarge, posted a 42 per cent increase in pre-tax profits to KES5.4bn for 2007 on Tuesday. Turnover rose 34 per cent to KES22bn on a 15 per cent increase in cement sales that hit 2Mt during the year, Bamburi said in a statement. "Despite the challenging business environment across the region, the group recorded strong sales across all markets stimulated by high Individual Home Builder demand and growth in the contractor segment," said Chairma... |
Vassiliko announces plans to increase production27 February 2008, Published under Cement NewsProduction capacity of Vassiliko Cement Works (VCW) is set to increase with the addition of a new clinker production line, is expected to become fully operational by mid-2010. The company’s CFO G. Savva stated that the new VCW’s production capacity would increase to 2.4Mta of cement (corresponding to 2Mta of clinker) from the current 1.85Mt of cement. The cost of the new production line is estimated to exceed EUR130m, whilst the new production line is expected to bring further cost co... |
Italcementi in downstream expansion27 February 2008, Published under Cement NewsItalcementi has expanded its downstream operations by two acquisitions, one in the United States and the other in Kuwait. Following the first meaningful downstream acquisitions in North America last year, Italcementi’s North American subsidiary Essroc has now purchased Crider & Shockey, based in Winchester, Virginia. Crider & Shockey, which has been in the ready-mixed concrete business since 1943, operates ten batching plants in Northern Virginia. On average over the last three years, an... |
Titan held back by US developments27 February 2008, Published under Cement NewsTitan’s turnover declined by 4.5% in 2007 to EUR1,496.9m as the weakness in the United States and, to a lesser extent, Greece could not be fully compensated for by the stronger performance elsewhere. The EBITDA declined by 11.5% to EUR425.5m, while at the pre-tax level, the reduction reached 21.1% to EUR300m. A lower tax rate was a result of falling US profits and a higher contribution from low tax countries meant that the reduction in the net profit was limited to 7.6% to EUR239.6m. Havi... |
Oman Cement Q4 profit falls again, misses forecast26 February 2008, Published under Cement NewsOman Cement Co, Oman’s largest maker of the building material by market value, posted its third consecutive decline in profit in the fourth quarter and said it plans to split its shares. Oman’s government allowed companies to start importing cement in 2006 because of a shortage as construction boomed. Oman Cement made a record profit of OMR6.04m in the fourth quarter of that year. Net income in the year to December 31 declined 12.5 per cent to OMR18.017m, compared with OMR20.584m in ... |
Germany to build cement plant in Quang Tri, Vietnam26 February 2008, Published under Cement NewsGermany ’s Metz Group will build a 2Mt cement plant in the central province of Quang Tri . To this effect, a memorandum of understanding (MoU) was signed between the German group and the East Truong Son Company on February 21. Under the MoU, Metz Group will contribute 95 per cent of the project’s total cost which will cover project planning, designing, equipment purchase, infrastructure and human resource training. Meanwhile, the Vietnamese side will be responsible for site cle... |
Nigeria lifts bagged cement import ban for six months26 February 2008, Published under Cement NewsNigeria has temporarily lifted a ban on importing cement in bags to meet a sharp shortfall in supply that has pushed up local prices, a top government official said on Monday. Africa’s top oil producer banned the importation of bagged cement in 2001 to protect a local industry that has failed to grow capacity to meet rapidly increasing domestic demand. Commerce and Industry Minister Charles Ugwuh said the government would lift the ban for six months to try and close the supply gap ... |
Dyckerhoff Ukraine plans EUR 260m modernisation investment26 February 2008, Published under Cement NewsDyckerhoff Ukraine plans to invest some EUR 260m in modernising its production facilities. "We will invest around EUR 200m in switching one of the company’s enterprises for the dry method of cement production..., transfer of the enterprises to coal (instead of gas) will take some EUR 60m," the company’s regional manager Otto Lose said. According to Lose, such measures are necessary in order to reduce energy costs which will reduce "two-fold" following the completion of the modernisatio... |
China Kehua Group to establish cement plant in Ethiopia26 February 2008, Published under Cement NewsChinese cement producer Zhejiang Kehua Group Co, Ltd will invest USD93m in building a cement plant in Addis Ababa, capital of Ethiopia, and has submitted an application to local regulators, said the Jinhua Foreign Trade & Economic Cooperation Bureau on February 21, 2008. Kehua Group confirmed the aforesaid news, adding that it sent several executives including the chairman Zhao Baozhong to make a 7-day survey about the Ethiopian city at the end of 2007 and signed a cooperative memorandu... |