Cement News tagged: Corporate
LafargeHolcim to appoint three new Board Members at AGM
LafargeHolcim's Board of Directors are to propose the appointment of three new Members of the Board at the Annual General Meeting (AGM) on 15 May, following the resignation of two Board members. The nominees for the new positions are Colin Hall, Naina Lal Kidwai and Claudia Sender Ramirez. Nassef Sawiris and Gérard Lamarche have decided not to stand for re-election to the Board at the AGM. A...
Aalborg Portland posts record turnover in 2018
Denmark-based Aalborg Portland has recorded a five per cent rise in turnover to DKK8.90bn (US$1.37bn) in 2018, compared with DKK8.5bn in 2017, which is the company’s highest-ever turnover. The improvement is due to large acquisitions in Belgium and the US, which with satisfactory returns have been able to compensate for stagnation in construction activity in the Nordic region. "We are proud...
Maple Leaf Cement set to begin production at new 7300tpd line
Pakistan’s Maple Leaf Cement has announced that it expects to start commercial production of clinker from its new 7300tpd line in Iskandarabad, Punjab province, next week. "After successful phase-wise commissioning test of installed equipment, the plant is in a trial run state," the company stated in a filing to the stock exchange. "Commercial production from new line of 7300tpd is expected ...
Power Cement expansion runs smoothly
Power Cement of Pakistan has released a progress report on the implementation of the Nooriabad expansion project for the quarter ended 31 March 2019. In view of the ongoing progress, a new date for trial production would be announced soon, according to a company official. The original expected date for trial production was June this year. Power Cement is implementing an ambitious expansion...
Attock Cement commences trial production at Iraqi grinding unit
Attock Cement Pakistan Ltd (ACPL) has further updated Pakistan Stock Exchange (PSX) about its Iraq project. Trial production at the newly-constructed cement plant has now commenced, according to company. In the beginning of this year, the company also announced that the entire civil, mechanical and electrical work at its joint venture cement grinding unit in Basra, Iraq, was at the commissi...
Matsiloje Cement MD claims his company was not protected
Racjit Josh, managing director of the closed Matsiloje Portland Cement (MPC) plant, has said that it would be difficult to reopen the plant without government support to restrict cement imports. The Botswana factory, which is owned by Nortex Textiles, closed in January 2018 due to competition from South African imports and 150 people lost their jobs. In June last year, the Ministry of Indus...
Cemex receives approval for Maceo operations up to 2040
Cemex has received approval from the Attorney General’s Office in Colombia to carry out mining operations at its plant in Maceo, Antioquia. The contract will last until 2040 with the option to extend it until 2050 if the company extends the duration of the mining concession. Cemex Colombia and its subsidiary Central de Mezclas will pay a lease fee of COP49m (US$16,159) to CL Calizas and Zona...
Novorosscement and Verkhnebakansky to raise cement prices
Novorosscement and Verkhnebakansky Cement will increase the price of cement by RUB300 (US$4.50)/t from 20 April 2019, according to Esmerk Russian News. The companies have attributed the price rise to higher rates for VAT, transportation equipment and rail freight as well as increasing raw material prices.
Bamburi Cement sees operating profit fall to KES0.8bn in 2018
Bamburi Cement (LafargeHolcim) has reported that operating profit fell to KES0.8bn (US$7.92m) in the 2018, from KES4.2bn in 2017. The decline was attributed to higher energy costs in power, coal and petcoke as well as price rises in raw materials and imported clinker. However, group turnover grew by 3.7 per cent from KES36bn in 2017 to KES37.2bn in 2018.
Ghana expects job boost from new factory
Ghana is expecting a jobs boost from the construction of the Tanoso clinker plant later this year. Approximately1800 direct jobs will be created when the factory is completed. President Akufo-Addoo visited the project site on 15 April 2019 in a tour of the region. The Tanoso unit expects to save the country US$700m by significantly reducing the need for clinker imports.
East African Portland Cement completes land sale
Government majority-owned East Africa Portland Cement Company (EAPCC) is selling land to the government after making KES1.26bn (US$12.4bn) losses in 2H18. EAPCC Chairman, Edwin Kinyua, finalised the 900-acre land sale with the Kenyan government at the opening of the Homes Expo in Nairobi. Revenue from the land sale is will also see EAPCC develop residential offices for the government's infra...
Raysut Cement reports 10% revenue increase in 1Q19
Oman’s Raysut Cement Co has released its unaudited consolidated financial results for the 1Q19, reporting a 9.8 per cent YoY increase in revenue to OMR23m (US$59.84m) from OMR20.96m. However, profit before tax declined 77.2 per cent in the first quarter to OMR248,478, compared with OMR1.09m of the year-ago period. Total profit and comprehensive income attributable to shareholders decreased 4...
Kuwait Portland Cement sees 12% profit rise in 2018
Kuwait Portland Cement Co recorded a net profit of KWD2.49m (US$8.2m) in the 4Q18. This represents a 150 per cent YoY advance when compared with KWD997,000 (US$3.2m) in the same period of 2017. In 2018, the company achieved a 12 per cent rise in earnings to KWD10.3m from KWD9.19m in 2017, according to a bourse filing. Operating income expanded by 4.3 per cent YoY to KWD8.87m from KWD8.5m in ...
Cemex Ventures invests in real-time delivery company
Cemex Ventures has invested in LINKX, a software company that specialises in goods delivery optimisation. LINKX will help Cemex achieve control of deliveries in real time, allowing data-based decision-making and communication between shipper, carrier and receiver. "This investment is a clear example of our offer," said Gonzalo Galinodo, CEO of Cemex Ventures." LINKX came to us at a very earl...
Attock Cement profit shrinks by 25% in 9MFY19
Attock Cement Pakistan Lt (ACPL) has announced its financial result for nine months period ended 31 March 2019 by declaring a net profit of PKR1.376bn (US$9.715m), down by 25 per cent YoY, as compared to PKR1.826bn in the same period last year. Net sales of the company during the 9MFY18-19 increased by 36 per cent to PKR16.15bn. Analysts attribute the rise in sales to stable growth in domes...
Saud Suliman Al Juhani new Tabuk Cement board chairman
Saudi Arabia-based Tabuk Cement Co has appointed Saud Suliman Al Juhani as the new chairman of the board, effective 14 April 2019. He replaces Dr Saeed Obaid who stepped down from the post due to other business commitments, said the company in a filing to the Saudi bourse, Tadawul. The company board also appointed Khalid Al Angari as the new vice chairman. The current board term ends on 25...