Cement News tagged: Corporate
LafargeHolcim restarts Pedro Leopoldo kiln lines
After four years, LafargeHolcim has restarted the two kiln lines at its Pedro Leopoldo plant in Brazil. The work to resume the kiln Line 1 involved more than 100 professionals from various areas and were completed within the goals of time, quality, financial resource. The Pedro Leopoldo cement plant has a cement capacity of 2.2Mta and is situated in Minas Gerais, Brazil.
Hsing Ta Cement sees 24% rise in October revenue
Taiwan’s Hsing Ta Cement has recorded a 23.6 per cent YoY rise in revenue in October, increasing to TWD789.78m (US$27.73m) from TWD638.73m in October 2019. In the January-October period, revenue saw a modest dip of 4.1 per cent YoY to TWD6bn from TWD6.26bn.
Breedon disposes of 14 assets to Tillicoultry Quarries for GBP12.2m
Breedon Group Plc is pleased to announce that it has agreed the disposal of certain assets to Tillicoultry Quarries Ltd for GBP12.2m on a cash and debt-free basis. The 14 sites to be divested include 10 ready-mixed concrete plants and an asphalt plant and associated aggregates depot in England, and two quarries and a cement terminal in Leith, Scotland. The earnings of the assets being d...
MBCC Group acquires BASF Construction Chemicals
MBCC Group has emerged from the former BASF Construction Chemicals business after its acquisition by an affiliate of global private equity firm Lone Star (Lone Star) and started operations as of 1 October 2020. The transaction between BASF and Lone Star was closed on 30 September 2020. Lone Star is now the new owner of the business. MBCC Group has been carved out from BASF Group over th...
Birla Corp posts 89% rise in profit
India’s Birla Corp has posted a net profit of INR1.66bn (US$22.35m) for the quarter ending 30 September 2020, up 88.6 per cent YoY over the same period last year. EBITDA reached INR4.04bn and cash profit was at INR3.23bn, representing a growth of 21.7 per cent and 43.2 per cent, respectively. Both figures were at a record high, due to sustained cost rationalisation initiatives and a better-...
India Cements sees rise in profit for the 2QFY20-21
India Cements has reported a rise in profit to INR714.3m (US$9.63m) for the second quarter of the FY20-21, compared to INR87.2m in the year-ago period. However, the company’s revenue declined 14 per cent YoY to INR10.69bn from INR12.46m. With the backdrop of a decline in demand, the overall sales volumes of clinker and cement decreased to 2.107Mt against 2.667Mt in the same quarter of the p...
Republic Cement forecasts recovery for next year
Nabil Francis, president and chief executive officer of Philippine-based Republic Cement, expects the country’s cement market to decline by 15 per cent YoY this year, before bouncing back in 2021. "In 2021, we will get back to 35Mt for the total market, which is more or less the level that we reached in 2019," said the CEO at an Aboitiz virtual media briefing. "Definitely, it's going to ...
HeidelbergCement announces a 8% fall in revenues for 9M20
HeidelbergCement announced its January-September 2020 revenue decreased by 7.9 per cent to EUR13,140m in comparison with the previous year's EUR14,273m. Excluding consolidation and exchange rate effects, the decline amounted to 6.9 per cent. Changes to the scope of consolidation of EUR4m and exchange rate effects of EUR159m had a negative impact on revenue. Group-wide cement and clinke...
JK Lakshmi Cement sees 87% rise in net profit
India’s JK Lakshmi Cement has seen an 86.9 per cent YoY rise in consolidated net profit to INR929.3m (US$12.5m) for the quarter ending 30 September 2020, compared with INR497.2m in the year-ago period. Revenue from operations also increased 11.8 per cent YoY to INR11.32bn from INR10.12bn in the 2QFY20-21. "The company's concerted efforts to improve efficiencies, better product mix and redu...
Gulf Cement Co sees net loss widen in the 9M20
UAE-based Gulf Cement Co has recorded a net loss of AED268.13m (US$73.01m) for the first nine months of 2020, widening from an AED3.86m loss in the year-ago period. The company's revenues fell 24 per cent YoY to AED259.48m in the 9M20, compared with AED341.01m in the corresponding period of last year. Meanwhile, the company has incurred accumulated losses of AED413.22m, representing over 50...
Vicat reports sales of EUR2.07bn
Vicat Group’s consolidated sales reached EUR2.066bn in the first nine months of 2020, stable on a reported basis and up 2.1 per cent YoY at constant scope and exchange rates. EBITDA increased to EUR403m from EUR373m in the 9M19. Overall cement sales also advanced 8.4 per cent at a constant scope. “The Vicat Group’s performance over the first nine months of 2020 demonstrated its resilience an...
Tokyo Cement (Lanka) Plc increases profits by 163% in FY2Q21
Tokyo Cement (Lanka) Plc reported earnings of LKR2.12bn (US$11.49m) for the FY2Q21 on revenues of LKR11.4bn. Profits and revenues were up 163 per cent and 13 per cent, respectively, compared to the July-September period in 2019. Domestic cement production in August 2020 rose by 17.4 per cent to 392,000t compared to 334,000t in August 2019, reports the Daily Mirror. The cumulative cement ...
COVID-19 closes WACEM's Tabligbo plant
The West African Cement plant (WACEM) has shut down its grinding plant in Togo for two weeks. The 1.8Mta Tabligbo plant has closed to halt the spread of COVID-19. The Ministry of Trade and Industry released an official statement saying: "On October 30, 2020, the national coordinator in charge of the response against COVID-19 informed me about an outbreak at the WACEM, a company located...
Ramco Cements posts 40% increase in net profit
India’s Ramco Cements has reported a 40 per cent YoY increase in net profit to INR2.36bn (US$31.69m) for the second quarter of the FY20-21. However, revenue was down 4.6 per cent to INR12.65bn from INR13.26bn in the corresponding period of the previous fiscal. EBITDA surged 48 per cent YoY to INR4.5bn from INR3.04bn, on the back of improved margins. During the quarter, the stability in cemen...
FLSmidth reports 33% decline in 3Q cement revenues
In the 3Q20 FLSmidth’s revenue amounted to DKK3834m (US$4181m) compared to DKK4736m in the 3Q19, down 19 per cent. Organic revenue decreased by 12 per cent, comprising a one per cent increase in mining and a 33 per cent decline in cement. The sharp decline in cement was due to a more severe pandemic impact on the cement industry and a low backlog. In the 3Q20 FLSmidth’s order intake amo...
Cementos Pacasmayo sees EBITDA rise 8% in 3Q
Peru's Cementos Pacasmayo saw its sales volume of cement, concrete and precast rise 14.2 per cent YoY to 819,700t in the third quarter of 2020, reaching historical record levels, mainly due to a sharp recovery in sales of cement. The company’s consolidated EBITDA also advanced 8.2 per cent to PEN120.6m (US$33.36m) from PEN111.5m in the 3Q19. Overall revenue increased 6.3 per cent YoY to PEN40...