Cement News tagged: Corporate
Cemex Philippines begins US$250m stock rights offering
Cemex Holdings Philippines Inc has started the process for its planned US$250m stock rights offering, hoping to finalise it within 1Q20. The Philippine Stock Exchange (PSE) was informed of the stock rights offering on 18 October. The move was made following the approval of stockholders to increase the company’s authorised capital stock last week. "CHP expects to disclose the terms and conditi...
Profitability of top six Pakistan producers remains under pressure in 1QFY20
The top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement,...
Cementarna Trbovlje seeks to resume operations
Slovenia’s Cementarna Trbovlje (LafargeHolcim) has requested an environmental permit from the country’s authorities to resume cement grinding, storage and dispatch, according to Delo. The company lost its environmental permit in 2014 and halted operations in February 2015. As the plant is not expected to produce raw materials, it will buy them alongside cement additives. The producer was o...
Holcim Mexico to build new plant in Yucatan
Holcim Mexico has announced that it will construct a new facility in Umán, Yucatan, representing an investment of around US$40m. The grinding plant will have a 0.65Mta capacity and is part of the company’s efforts to expand in the southeast of the country, according to a company press release. "Expanding our operations in the Yucatan Peninsula demonstrates our long-term commitment to the reg...
Hoffmann Green raises EUR65.4m for its IPO
France-based Hoffmann Green Cement Technologies has raised EUR65.4m as a result of its initial public offering (IPO) on the Euronext Growth Paris bourse. The total amount of the offer could be increased to EUR75.2m if the over-allotment option is taken, said the company. The price of the offer was set at EUR18/share and the transaction was oversubscribed 2.2 times. The shares will begin trad...
Surkhoncementinvest commissions first stage of plant
Uzbekistan’s Surkhoncementinvest has commissioned the first stage of its cement plant in Jarkurgan district, Surkhandarya. When the facility reaches its full capacity, it is expected to produce 1.1Mta of cement and export 0.75Mta of this product. "Surkhandarya region has enormous economic opportunities. There are many underground wealth, there are almost all the elements of the periodic tabl...
Divestment talk of LafargeHolcim's Australian and New Zealand divisions resurface
LafargeHolcim is reported to be considering exiting Australia and New Zealand, according to The Australian. The AUS$2-3bn (US$1.37-1bn) division has been identified as a means for the group to potentially drive down its debt levels. LafargeHolcim was created through a US$50bn merger of Lafarge and Holcim in 2014 and considered an exit from Australia and New Zealand the following year to cut d...
Bestway Cement’s profits sharply eroded in 1QFY19
Bestway Cement Ltd (BWCL) of Pakistan has announced its financial results for the 1QFY19, ended 30 September 2019. It declared a net profit of PKR300m (US$1.97m) against PKR2.257bn earned in the same period last year. It shows 1Q profit plummeted by 86.7 per cent YoY. The fall in profit is reportedly due to a dip in the company's sales and a modest increase in finance costs as shown in the fi...
Jalabiyeh plant in Syria set on fire
The international coalition has set fire to LafargeHolcim’s Jalabiyeh plant, just north of Aleppo near the Turkish border, Syria, to prevent the Syrian Arab army taking possession of the plant, according to Réseau Voltaire. "On Oct. 16, after all Coalition personnel and essential tactical equipment departed, two Coalition F-15Es successfully conducted a pre-planned precision airstrike at the...
Catatumbo Cements faces disruption from road blockage
The distribution of cement and other products, including clinker, has been disrupted in the Venezuelan municipalities of Rosario de Perijá and Machiques de Perijá due to the blocking of the main road that connects to the plant of Catatumbo Cements. According to local media reports, a group of cooperatives in the area have closed the La Luna road. The transport cooperatives reportedly wish to...
China Tianrui Group Cement enters into new clinker supply agreement
China Tianrui Group Cement has entered into a new clinker supply framework agreement with Ruiping Shilong, which will remain active until 31 December 2021. While an existing clinker supply agreement for the same term has been active since 1 April 2019, the company has stated that the actual transaction amount may exceed the proposed annual cap. Therefore, the new agreement will supersede the ...
Loma Negra to hire 120 workers for L'Amali II
Argentine cement producer Loma Negra announced it will hire 120 workers for the new line at its US$350m L'Amalí II plant in Bonaerense de Olavarría, Argentina. Of the 120 new positions, 80 will be operators and the rest managers and analysts, according to a company statement. The selection of staff will be carried out both internally and externally and the company will be in charge of carryi...
Villagers complain about Alpha Cement's use of local road
Alpha Cement has met with further protests about the use of a road leading finished good away from the cement plant in Aung Tha Pyay, Myanmar. The residents maintain that the coal-fired cement factory’s proximity to the Aung Tha Pyay village and Dahat Taw village tract could have serious adverse impact on the environment and the health of the people in the area. Local villagers have complaine...
ACC shows 45% increase in profit for the 3Q19
India’s ACC (LafargeHolcim) saw its consolidated net profit rise 44.7 per cent YoY to INR3.03bn (US$42.25m) in the 3Q19, on the back of a three per cent climb in net sales to INR34.64bn. Operating EBITDA was up 26 per cent YoY to INR5.57bn from INR4.44bn. However, consolidated cement sales volumes fell two per cent to 6.44Mt from 6.54Mt in the 3Q18. In the 9M19 net profit increased 40 per ce...
Blackstone enters race for Emami Cement
Blackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about U...
Yamama Cement sees revenue surge 73% in the 3Q19
Saudi Arabia’s Yamama Cement Co has returned to profit in the 3Q19, posting a SAR45.7m (US$12.1m) profit against losses of SAR46.3m in the year-ago quarter. Revenue also surged 73.1 per cent YoY to SAR186.5m. In the first nine months of 2019, net profits reached SAR178.5m compared to a SAR58.7m loss in the 9M18. The company also recorded a 56.8 per cent YoY increase in revenue to SAR565.7m fr...