Cement News tagged: Corporate
Cherat Cement records PKR1.02bn net profit in 1HFY18-19
Cherat Cement Company Ltd (CCCL) has announced its financial results for the half year ended 31 December 2018. CCCL declared a net profit of PKR1.02bn (US$7.29m), down by 23.9 per cent YoY, as compared to PKR 1.349bn earned in the same period last year. CCCL's Executive Director and Company Secretary, Abid Vazir, said the company's net sales during the 1HFY18-19 fell to PKR7.032bn fro...
Cementos Pacasmayo revenues sees 5% rise in 4Q18
Peru-based Cementos Pacasmayo reported a rise of 4.6 per cent in revenues to PEN340.7m (US$102.3m) in the fourth quarter of 2018 with sales volumes of cement, concrete and precast increasing 5.6 per cent to 656.2t as the public sector recovered. Demand from self-construction and small- and medium-sized projects also advanced. The cement EBITDA margin slipped by 5.8 percentage points to 26.6 ...
Madanganj plant to expand capacity by 0.3Mta
Bashundhara Industrial Complex (Bashundhara group) plans to expand its cement production capacity at its Madanganj cement plant in Narayanganj, Bangladesh. The current cement capacity of the plant is 2.1Mta and will rise by 0.3Mta to 2.4Mta after the expansion project, which is scheduled to be commissioned in 2020 taking the Bashundhara group's cement capacity to 7.56Mta. "We are enhancing o...
Deccan Cements sees four-fold 3Q net profit surge
India-based Deccan Cements reported a near four-fold hike in its net profit for the third quarter ended 31 December 2018. Net profit surged to INR329.9m from INR89.5m in the 3QFY18-19. Total income of the company increased from INR1362.1m in the year-ago period to INR5029.2m in the third quarter of the current financial year. Deccan Cements produces OPC, PPC, blended and slag cement as wel...
RAK Cements profit falls to AED13m
Ras Al Khaimah Co for White Cement and Construction Materials has posted a 57 per cent drop in net profit to AED13m (US$3.5m) in 2018. The company’s revenues fell from AED767.92m in 2017 to AED755.22m one year later while total assets declined to AED1.03bn in 2018 versus AED1.102bn the previous year.
Ozarow Cement names Janusz Miluch as new CEO
Ozarow Cement in Poland has appointed Janusz Miluch as its new CEO. He will replace Andrzej Ptak, who retired at the end of December. Ozarow Cement is part of the Ireland-based CRH group and has 90 sites where it produces a range of building materials.
Martin Marietta Materials achieves record volumes and profits
US-based Martin Marietta Materials saw turnover advance by seven per cent in 2018 to US$4244.3m. EBITDA was 8.6 per cent ahead at US$1103.8m, but the final quarter showed a 5.9 per cent decline. The trading profit eased by 1.4 per cent to US$690.7m, while interest charge increased by 49.8 per cent 137.1m, giving a pretax profit 6.9 per cent lower at US$576.1m. A tax charge compared with a cred...
JSW Cement completes Dolvi expansion
India’s JSW Cement has announced the completion of its expansion project at its plant in Dolvi, Maharashtra. The project has increased capacity from 1Mta to 2.2Mta, thereby lifting the company’s installed capacity to 12.6Mta. "Our Dolvi cement unit is located closest to our customers in Maharashtra thereby ensuring that all their requirements are serviced quickly and with the freshest quality...
Kaspi Cement opens new 1Mta production line
HeidelbergCement Georgia reports that they have carried out the full modernisation of the Kaspi Cement plant and have opened a new 1Mta production line. Preparatory works for the plant's modernisation project were launched in September 2016, with a US$100m investment in the project. The project was implemented with support from the Georgian Co-Investment Fund and Honeywell Partners. Within t...
QNCC meets demand after commissioning new plant
Qatar National Cement Co (QNCC) has succeeded in meeting demand levels in the country following the company’s 5000tpd Plant 5 entering operation, according to Salem bin Butti al Naimi, chairman and MD. "The company is supporting the massive construction boom in Qatar by meeting 100 percent market demand for all types of cement and washed sand successfully from the company’s own production ma...
JK Lakshmi Cement reports 72% profit growth
India's JK Lakshmi Cement has recorded a 71.7 per cent increase in standalone net profit to INR147.5m (US$2.07m) for the third quarter ended 31 December, compared with INR85.9m of the year-ago period. Its total income during the 3QFY18-19 was up 11.3 per cent YoY to INR9.487bn from INR8.52bn. The company also reported nine per cent volume growth in the period. However, total expenses rose 1...
ARM and EAPC risk sanctions due to royalty arrears
Athi River Mining (ARM) and East African Portland Cement (EAPC) are risking their operating licence following an audit report of companies in the cement sector that are in royalty arrears with the Kenyan state, according to a report by Agence Ecofin. A taskforce report recommended to the Ministry of Mines that the granting of such licences be tied to the payment of royalties or cement levy. ...
Orient Cement reports INR137m loss in 3QFY18-19
Orient Cement has reported its financial results for the third quarter of the FY18-19, ended 31 December 2018. Total income rose by 11.9 per cent to INR5.748bn (US$80.7m) in the 3QFY18-19 when compared with INR5.135bn in the year-ago period. When compared with INR5.632bn in the 2QFY17-18, sales rose 2.1 per cent. The India-based cement producer reported a smaller net loss of INR137m in the...
HeidelbergCement reportedly considers selling Ukrainian assets
HeidelbergCement is reportedly considering the sale of its assets in Ukraine, according to Interfax-Ukraine. "HeidelbergCement is selling its assets in Ukraine. The deal is to be held in March-April of this year. The buyer will be the Ukrainian investment group Concorde Capital," said a source for the news agency. HeidelbergCement Ukraine owns three plants in the country – Kryvyi Rih, Kamya...
Fujairah sees stable revenues but profit slip in 2018
Fujairah Cement Industries reported largely stable revenues in 2018 at AED614.559m (US$167.3m) when compared with AED620.825m in 2017. Net operating profits were down 18 per cent to AED118.384m from AED143.498m from the previous year. For the fourth quarter of 2018, the company saw a three per cent decline in total operating revenues to AED151.893m when compared with the 4Q17 when revenues...
Holcim Indonesia becomes PT Solusi Bangun Indonesia
Holcim Indonesia has changed its name to PT Solusi Bangun Indonesia (Solution to Build Indonesia) following its takeover by PT Semen Indonesia. An Extraordinary General Meeting of Shareholders (EGM) of PT Holcim Indonesia Tbk, held on 11 February 2019, approved the company name change. In addition, two subsidiaries of PT Holcim Beton and PT Lafarge Cement Indonesia were renamed PT Concrete B...