Cement News tagged: Corporate
Cemex Philippines records net income of PHP98m in 2020
Cemex Holdings Philippines Inc reported a 23 per cent weaker net income of PHP985m (US$20.54m) in 2020 from PHP1.3bn in 2019, as the coronavirus impacted its operating earnings. The listed company’s consolidated net sales also dropped by 16 per cent last year to PHP19.7bn from PHP23.6bn in the previous year. The COVID-19 pandemic slumped the firm’s domestic cement volumes by 11 per cent YoY i...
Niraj Cement makes new appointments to the Board
The Board of Niraj Cement Structurals Ltd has appointed Vishram Rudre as an additional (managing) director of the company, at its meeting held on 13 February 2021. Sudhakar Tandale has also been appointed as an additional (whole-time) director of the company. Meanwhile, Gulshan Vijaykumar Chopra has resigned as managing director and Ratan Krishan Chopra has resigned as whole-time director.
Northern Cement reports 37% rise in net income
Jordan’s Northern Cement has reported a 24 per cent decline in revenue to JOD37.19m (US$52.46m) in 2020, compared with JOD48.94m in the previous year. Gross profit advanced 29.9 per cent YoY to JOD9.27m. Net income after tax climbed 37.1 per cent to JOD6.25m from JOD4.56m in 2019.
Yamama Cement reports revenues of SAR211m in FY20
Saudi Arabia’s Yamama Cement (YSCC) registered revenue of SAR211m (US$56m) in FY20,a YoY drop of 10.8 per cent. Cement sales volumes for 4Q20 reached at 1.19Mt. Gross profit and operating income fell by 23.2 per cent YoY and 24.8 per cent YoY, respectively. For 2020 YSCC registered a volume growth of 17.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local...
Flying Cement completes Punjab WHR plant
The Flying Cement Co Ltd updated the Pakistan Stock Exchange (PSX) that it has achieved another key milestone. Company Secretary, Shahid Ahmad Awan, stated that the company has successfully completed the installation and commissioning of a 7.5MW waste heat recovery power plant (WHRPP) at its site in Mangowal, Khushab district in Punjab, Pakistan. He added, “The employment of this technolo...
Cemex reports 10% rise in 4Q20 cement volumes
Cemex S AB de CV reports that in the 4Q20 EBITDA grew by double-digit growth YoY. Consolidated net sales increased by nine per cent to US$3.537bn, an increase of one per cent for the full year of 2020 when compared with 2019. Operating EBITDA rose 19 per cent in the 4Q20 to US$644m. Operating EBITDA margin rose by 1.2 percentage points to 18.2 per cent. Foreign debt declined by US$1027m in...
ACC posts 73% YoY rise in net profit
India’s ACC (LafargeHolcim) has reported a 73 per cent rise in net profit to INR4.72bn (US$64.82m) in the December quarter, compared to INR2.73bn in the year-ago period. Revenue advanced two per cent YoY to INR40.66bn from INR39.7bn, while EBITDA increased 30 per cent YoY to INR7.01bn. Cement sales volumes were largely flat at 7.71Mt from 7.76Mt in the October-December 2019 period. "We a...
Ras Al Khaimah Cement reports 9% decline in profit
UAE-based Ras Al Khaimah Cement Co has reported a nine per cent decline in net profit to AED50.71m (US$13.8m) last year, compared to AED55.71m in 2019. The company's revenue also fell 15 per cent YoY to AED153.08m from AED181.66m. During the first nine months of 2020, the company's net losses had surged to AED23.7m from AED6.4m in the year-ago period.
National Cement 5000tpd clinker line construction advances
After one year of construction activity and despite the pandemic situation, National Cement's 1.65Mta Ragland Cement plant modernisation project is progressing well and is on schedule. The five-stage preheater and precalciner located next to the new 13,000t blending silo is fast being erected. It will be 110m high when completed. "This structure, the tallest in the St Clair County wil...
Cemex Latam Holdings announces 4Q20 EBITDA fall of 1%
Cemex Latam Holdings SA reported that the company's consolidated net sales and EBITDA in the 4Q20 fell by three and one per cent, respectively, compared to the 4Q19. Jesús González, CEO of Cemex Latam Holdings, commented: "I am proud of how the organisation responded to the challenge of the sudden arrival of COVID-19 in our footprint. We reacted quickly and forcefully to a highly unce...
SIKA acquires Russian mortar company
Sika has agreed to acquire Kreps LLC, a leading mortar manufacturer in Russia. The company offers a wide range of mortar products for interior and exterior finishing, complementing the existing portfolio and geographical footprint. The acquired business generates annual sales of CHF15m (US$16.8m). The transaction is subject to clearance by the local anti-trust authorities. Kreps operates...
EAPCC appoints new managing director
Kenya’s East African Portland Cement Co (EAPCC) has appointed Daniel Kiprono as its new managing director, with effect from 8 February. Mr Kiprono replaces acting managing director, Stephen Nthei, who had been in the role for 18 months.
Gulf Cement Co sees net loss widen in 2020
UAE-based Gulf Cement Co has posted a net loss of AED273.5m (US$74.47m) in 2020, compared to a net loss of AED26.8m in the previous year. The company’s revenue also declined 22 per cent YoY to AED345.9m from AED443.6m in 2019.
Yanbu Cement prepares to shutdown Line No 4 for 60 days
Yanbu Cement announced that its production line No 4 will be shut down for 60 days from the 15 February 2021, in line with the implementation of its strategic plan of modernisation, according to a bourse filing. Cement sales will not be impacted by the suspension of the production line, given the sufficiency of its clinker strategic stocks, reports the company. Meanwhile, production ...
FLSmidth reports 22% decline in cement order intake in 2020
FLSmidth’s order intake in 2020 was on par with last year, comprising 13 per cent growth in mining and a 22 per cent decline in cement. Including currency effects and acquisitions, total order intake decreased by five per cent to DKK18,524m (US$2490m). FLSmidth Group CEO, Thomas Schulz, commented: "2020 was impacted operationally and financially by the pandemic, which has presented both ...
Schwenk invests in cement mill and multichamber silo
Schwenk Zement plans to start operation of an additional cement mill and multichamber cement storage silo at its Broceni plant in Latvia at the end of this year. The completion of the project will enable more efficient use of the existing capacity at the facility, expand the range of cement produced with more environmentally-friendly product types and look towards new export markets. "We a...