Cement News tagged: Corporate
CCNN reports record net profit of NGN5.7bn in FY18
Cement Company of Northern Nigeria (CCNN) has released its FY18 results, reporting a net profit of NGN5.7bn (US$15.75m) , 77 per cent higher than in 2017. The earnings report is the first since the merger with Kalambaina Cement. Revenue reached NGN31.7bn, up 62 per cent YoY. EBITDA rose by 86 per cent to NGN7.9bn. CNN produced 0.76Mt of cement and sold over 0.74Mt. Sales in Nigeria rose by 4...
HeidelbergCement plans to invest EUR25m in Togo
HeidelbergCement intends to invest EUR25m (US$28.2m) in its Togolese subsidiaries Cimtogo, Scantogo and Granutogo, according to Eric Goulignac, the company’s managing director in the country. The investment programme, which will be submitted to the company's Germany-based board, includes the installation of a new grinding unit in Lomé and a solar photovoltaic plant to power its plants, repor...
Lucky Cement wins Corporate Excellence Award
Lucky Cement Ltd has won the Management Association of Pakistan's (MAP) Corporate Excellence Award in the cement sector category. Syed Noman Hasan, executive director of Lucky Cement Ltd, received the award at the 34th MAP Annual Corporate Excellence Award Ceremony held in Karachi on 9 April 2019. The Corporate Excellence Awards was instituted by MAP in 1982 with the sole aim to recognise an...
Steppe Cement records strong sales in 1Q19
Steppe Cement reports that in the 1Q19 the cement producer sold 266,393t of cement for KZT4455m (US$11.76m), compared to 197,179t of cement for KZT2313m in the 1Q18, an increase of 35 and 93 per cent, respectively. Steppe Cement reports that higher transport tariffs and rental expenses have been offset by savings due to better utilisation of the wagon fleet and increased sales in markets ...
New Director General at Arodo
After five years at the helm, Marianne Fiers is handing over the reins of Arodo to the new General Director, Joost Van Aaken. Marianne will be taking early retirement on 19 April 2019. Looking to the future, Joost Van Aaken said: “I want to give our people space to work on innovative solutions”, he continues. “Then we can together be proud of each Arodo machine and each customer. Creating add...
Taiwanese cement companies report positive results in 1Q19
Taiwan Cement Corp reported improved revenues for March 2019 at TWD10.877bn (US$352.62m), up 11.6 per cent when compared with TWD9.75bn in March 2018, according to Dow Jones Newswires. Universal Cement Corp revenues remained largely stable in March 2019 at TWD437.14m, when compared with TWD437.497m in the same period the previous year. Revenues for Lucky Cement Co slipped 0.6 per cent to TW...
6th LafargeHolcim Forum is held in Cairo
LafargeHolcim and the American University of Cairo held the 6th LafargeHolcim Forum on 'Rematerializing Construction' in Cairo, Egypt, on 9 April. The forum drew more than 350 leading minds from architecture, engineering, planning and the construction industry and a total of 1200 attendees. Khaled Abbas, Deputy Minister of Housing (Egypt) and Roland Köhler, Chairman of the LafargeHolcim Fou...
Work on Dangote’s Côte d’Ivoire plant advances
Dangote Cement has announced the construction of its 3Mta cement works just outside Abidjan, Côte d’Ivoire is now at an advanced stage. The project has been implemented for around 70 per cent with more than 80 per cent of equipment supplied and 80 per cent in terms of construction and civil engineering, according to Camara Guy Adama, project leader. The new plant and related logistical sup...
ARM Cement expected to sell shares in Mafikeng Cement
ARM Cement is expected to sell its 70 per cent stake in South African subsidiary Mafikeng Cement (Pty) Ltd. PriceWaterhouseCoopers, which is administering ARM Cement, has started preparations to dispose of the stake in Mafikeng Cement for KES300m (US$2.974m). The Mafikeng plant was to be established with a cement capacity of 1Mta and ARM Cement invested KES75m in the company to buy a controll...
HeidelbergCement makes further progress with portfolio optimisation
HeidelbergCement’s subsidiary Italcementi has signed contracts with Buzzi Unicem and Colacem regarding the disposals of cement plants in the northern and central region of Italy. The involved parties agreed not to disclose details of the transactions for the time being. “These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Scheifele, chairman of ...
Sika sees successful start to the year
Sika has reported a successful start to 2019 business year, reporting a new sales record of CHF1644.8m (EUR1462m) in the first quarter. This equates to an increase of 7.1 per cent in local currencies. A negative currency effect (-1.3 per cent ) led to robust sales growth in Swiss francs of 5.8 per cent . Paul Schuler, Chief Executive Officer: “In a commercially challenging environment...
Indocement anticipates conservative sales growth
Indocement Tunggal Prakarsa is targeting a conservative sales growth of four per cent this year to IDR15.8trn (US$1.1bn) on the back of a slowdown in domestic cement consumption, president director Christian Kartawijaya has said. Mr Kartawijaya predicts demand for cement to pick up in the second half of 2019, after the country's presidential election to be held this month, he told the Jakarta...
Lafarge Malaysia expects subdued demand, higher prices
Lafarge Malaysia expects subdued domestic cement demand to continue in 2019 but prices are anticipated to increase due to higher production costs. A report in the Edge Financial Daily states that the recovery in the property market will take longer as the oversupply overhang and affordability issue continues to plague the industry. The potential revival of the East Coast Rail Link (ECRL) pr...
Cemex Holding Philippines plans SRO
Cemex Holdings Philippines Inc plans to increase its capital stock by more than triple to raise finds through a potential stocks rights offering (SRO). "Cemex Holdings became one of the most actively-traded stock (last week) after it disclosed its plan to increase its authorised capital to enable itself to raise finds via SROs or other fund-raising option," said Jervin S de Celis of Timson Se...
HCT appoints new CEO after Emir Adigüzel steps down
HeidelbergCement Trading (HCT) has made management changes following the departures of CEO Emir Adigüzel, and Deputy CEO and General Director Kerim Erben. Emir Adigüzel joined the group in 1989 and became COO HCT in 1996. After the integration of the ITC trading arm Interbulk in 2016, he took over the extended responsibility as CEO HCT. During Emir Adigüzel’s leadership, HCT has expanded fr...
Cementos Argos supplies concrete for Caribbean’s largest effluent treatment plant
Colombia-based Cementos Argos has supplied 22,978m 3 of concrete for the Mirador Norte-La Zurza wastewater treatment plant, the largest in the Caribbean, according to Dominicano Ahora. The 1.2m 3 /s treatment plant, which is being built by Incatema Consulting and under supervision of the Santo Domingo Aqueduct and Sewer Corp, will benefit half-a-million people in the National District and ...