Cement News tagged: Corporate
Cemento Polpaico reports CLP2.1bn loss in 2018
Chilean cement producer Cemento Polpaico, in which the Hurtado Vicuña family holds the controlling stake, has reported net losses of CLP2.139bn (US$3.2m) in 2018, exacerbating net losses of CLP1.043bn m noted the previous year. The company revenues increased 23.1 per cent YoY to CLP166.549bn in 2018 from CLP135.326bn in 2017. However, while gross profits increased 29.9 per cent to CLP55.23bn,...
Tanzanian mega cement plant construction to begin soon
The Tanzania Investment Centre (TIC) confirmed that it has supplied Sinoma and Hengya Cement (T) Ltd with the requisite incentives to begin construction of the company's US$1bn greenfield cement plant in Tanga region. Geoffrey Mwambe, TIC executive director said the licence has a three-year period during which implementation must start. The new plant will have a capacity of 7Mta and a power p...
UltraTech increases net profits to INR92.6m in 3QFY19
UltraTech reported net sales of INR92,580m (US$1.299bn) in 3QFY19 up 19 per cent from INR77,790m in 3QFY19. Profits before interest, depreciation and tax was INR15,480m, up from INR14,940m in the corresponding period a year earlier. The company saw domestic sales volume rise by 15 per cent over 3QFY18, but higher fuel and energy costs, along with rupee depreciation resulted in costs increasin...
Qatar National Cement profits rise 6% in 2018
In a filing to the Qatar Stock Exchange, Qatar National Cement reported a 53.4 per cent YoY increase in fourth-quarter profits to QAR129.03m (US$35.4m) and a 6.4 per cent YoY rise to QAR347.83m for the full year of 2018. The company saw profits fall to QAR218.8m in 3Q18 from QAR242.8m in 3Q2017.
Carthage Cement revenues up 37% in 2018
Carthage Cement reported a turnover of TND237.2m (US$79.6m) in 2018, an increase of 37 per cent when compared with a turnover of TND173m in 2017. Clinker output rose by 13 per cent YoY in 2018. Revenues from clinker exports reached TND47m in 2018, representing 20 per cent of the Tunisia-based company’s overall sales and more than off-setting the loss of cement exports due to Algerian governm...
Republic Cement to commission two new cement mills in 2019
Philippines-based Republic Cement Services Inc (RCSI) plans to commission two finish mills this year, adding 2Mta to its 7Mta current capacity. The investment is estimated to have cost in the region of US$20m for each finish mill. "This year we will increase our grinding capacity and at the end of this year, we will commission two new finish mills which will somehow give an output of a bit ...
Ghacem targets 3Mta cement production in 2019
Ghacem says it is working to reach a production of 3Mta in 2019. The Ghanian manufacturer expects to distribute 60 million bags of cement this year, up by four million on 2018, according to Morten Gade, Ghacem's managing director. The entrance into the market by two new manufacturers last year changed the market dynamics, resulting in Ghacem’s to alter its marketing strategy. "When the marke...
Shree Cement records 21% revenue increase
India's Shree Cement has announced that its net profit fell 10 per cent YoY in the third quarter of FY18-19 ended 31 December, declining to INR3.01bn (US$42.28m) from INR3.33bn of the year-ago period. However, the company’s revenue advanced 21 per cent to INR27.81bn compared with INR23.02bn of the 3QFY17-18. EBITDA grew 25 per cent YoY to INR7.1bn from INR5.7bn, while the operating margin saw...
Raysut Cement begins operation of new digital solutions
Oman’s Raysut Cement Co (RCC) has begun operation of its new SAP ERP suites after five months of implementation. The SAP S/4 HANA and SAP SuccessFactors suites will help boost efficiency at the company. "Digital transformation at RCC is an ongoing agenda and the deployment of the SAP modules is a beginning," said Joey Ghose, CEO. The new SAP S/4HANA will assist the company to increase effic...
EAPCC denies reports of potential acquisition
Kenya’s East African Portland Cement Co (EAPCC) has denied recent reports that it was in early-stage talks with LafargeHolcim about a potential acquisition. "It has never featured in any board discussions," said the company’s head of financial management, Stephen Nthei, in an interview with Bloomberg. "I don’t think it’s a considerable move given the current shareholding structure." Lafarge...
Sinoma Energy to supply Athi River plant
China’s Sinoma Energy Conservation has signed a KES25.5bn (US$251m) deal to power Devki Group’s Athi River cement plant and its Mombasa-based raw steel processor. Sinoma announced in regulatory filings last week that the kiln waste-heat project at the new Athi River plant and the other to power the steel plant in Kilifi will be built over a period of 20 months to produce a combined 53.5MW.
FLSmidth transports largest-ever WPV gear unit to Bangladesh
FLSmidth MAAG Gear began transporting the largest WPV gear unit ever, with a weight of 215t, from Hamburg harbour towards Bangladesh last week. Due to its substantial weight, a heavy lifting vessel equipped with two cranes of 1500t lifting capacity is delivering the product. The conventional gear unit with design power of 9200kW will drive an OK 71-6 slag mill for a cement plant in Banglades...
Captive power plant commissioned for Samawa Cement
Six MAN Energy Solutions 18V32/40 engines have been commissioned at Samawa Cement, Iraq. The power engines will produce 54MW of electrical energy to power the cement plant owned by Kairat Al Abar Iraqi Co (KAAI). MAN Energy Solutions supplied the engines to CGGC-UN Power Co Ltd ( China Gezhouba Group Cooperation) which will operate teh captive power plant. The engines will run on heavy fuel...
Vicat closes acquisition of Ciplan
Vicat Group has announced the closure of its Ciplan acquisition and now holds a 64.7 per cent stake in the company. The deal was structured through a reserved capital increase of EUR295m, with the proceeds used to settle a vast majority of Ciplan’s existing debt, according to a press release. "With this acquisition, Vicat pursues its targeted external growth and geographical diversificat...
Profit of Attock Cement falls in 6MFY19
Attock Cement Pakistan Ltd (ACPL) has announced earnings of PKR816.79m (US$5.8m) for the half year ended December 2018, a fall of 29 per cent YoY, as compared to PKR1.152bn earned in the same period last year. Company net sales increased by to PKR10.63bn from PKR7.36bn during this period. Distribution cost of PKR749.39m were incurred against PKR279.18m in the same period last year. The a...
MI Cement to set up new 8400tpd line
Bangladesh’s MI Cement Factory Ltd has announced that it will set up its sixth cement unit in Muktagachha, Munshiganj, at a cost of BDT6bn (US$71.54m). The new line is expected to have a capacity of 8400tpd and enter commercial operation by 2021. Upon completion, the company’s total capacity will rise 76 per cent to 19,400tpd from 11,000tpd. The decision to expand was taken after the company’...