Cement News tagged: Corporate
Dandot Cement's losses depend in FY08
Dandot Cement Company Ltd (DCCL) of Pakistan announced its financial results for the year ended 30 June 2018, declaring a net loss of PKR751.45m (US$5.62m) up by 42.4 per cent YoY, as compared to loss of PKR527.68m reported in the same period last year. DCCL's net sales decreased by 27.7 per cent to PKR1.3bn YoY, as compared to PKR1.8bn in the same period last year. The company incurred l...
Cementos Yura sees 30% 3Q net profit fall
Peru-based Cementos Yura saw its net profit fall by 30 per cent YoY to PEN52m (US$15.4m) in the third quarter of 2018. The company has attributed the slide to a lower gross profit as the cost of sales increased 14 per cent YoY to PEN146m due to higher clinker production costs. Sales increased to PEN261m with domestic shipments up four per cent due to higher demand for the Yura and Frontera b...
Sagar Cements reports 40% production increase
India’s Sagar Cements has reported that its consolidated production has increased by 40.1 per cent YoY to 273,216Mt for October 2018, compared to 195,066Mt in October 2017. Furthermore, the company’s consolidated sales for the month rose by 43.73 per cent YoY to 279,554Mt from 194,500Mt.
RCCPL announces grinding plant expansion
India's Birla Corp has announced that it plans to carry out the second phase of expansion at the grinding plant of its RCCPL subsidiary in Kundanganj, Uttar Pradesh. The project includes the installation of a 1.2Mta third line, increasing total plant capacity to 3.2Mta. The plans are expected to be completed in the FY20-21 at an investment cost of INR2.5bn (US$34.23m).
Sharjah Cement records decreasing sales
UAE-based Sharjah Cement has announced an 82.3 per cent fall in net profit for the 3Q18, dropping to AED2.2m (US$599,046) from AED12.4m a year ago. The company has attributed the results to a decline in income from investments and sales. Sales decreased 9.9 per cent to AED131.3m from AED145.7m in the 3Q17. In the first nine months of 2018, Sharjah’s profit was down 67 per cent at AED14.3m co...
Saudi producers face declining results in 3Q18
Saudi's Arabian Cement has posted a 51.2 per cent YoY decline in net profit during the 3Q18, falling from SAR29.5m (US$7.86m) to SAR14.4m. Furthermore, sales decreased 27.7 per cent to SAR117.9m from SAR163m. Elsewhere, Umm Al Qura Cement has recorded a net loss of SAR3.9m for the third quarter, compared to a profit of SAR5.1m in the year-ago period. Sales dropped 23.6 per cent YoY to SAR33.7...
Qassim Cement reports 89% fall in net profit
Saudi Arabia's Qassim Cement has seen an 88.9 per cent YoY fall in its net profit during the third quarter of 2018, decreasing to SAR5.68m (US$1.514m) from SAR51.24m. The profit has been attributed to a drop in the volume and value of sales after a declining demand. Revenue in the 3Q18 fell 43 per cent to SAR74.36m from SAR130.74m of the corresponding period a year ago. During the first nin...
Penna Cement files for an IPO for expansion plans
Penna Cement has filed for a INR15,500m (US$212.2m) initial public offering (IPO) with the markets regulator Sebi to raise funds for expansion and paying off debt. Penna Cement's CEO, Vikram Reddy said Penna Cement has an expansion plan that includes a mix of brownfield and greenfield plants that will raise the company's cement capacity to 16.5Mta by 2020. The IPO will consist of a fresh iss...
RHI Magnesita held back by Chinese market in 3Q18
RHI Magnesita's 3Q18 results reported that the company's cement and lime segment continues to be held back by reduced cement production in the Chinese market and the company's ongoing focus on pricing and quality, against more commoditised competitors. However, CEO Stefan Borgas said: "The solid results in third quarter reflect a continuation of the positive trends we saw in the first half, ...
Udaipur Cement reports sales increase in 3Q18
India's Udaipur Cement Works has reported a contracting net loss in the 3Q18 at INR139m (US$1.903m), compared to a loss of INR234.9m in the year-ago period. Furthermore, sales increased 43.8 per cent YoY to INR1.15bn from INR800m.
Calicom Industries acquires majority stake in Dandot Cement
Pakistan-based Calicom Industries has agreed to acquire a majority stake in Dandot Cement Co Ltd (DDCL). Under the terms of the transaction, Calicom Industries will acquire control of DDCL and 63,542,787 voting shares, representing 67 per cent of paid up capital.
FLSmidth's new O&M manager sees cement in the fast lane
At first glance, racing high-tech cars at 300km/h and operating cement factories would seem to have little in common. But don’t tell that to Anders Benfeldt, the new head of FLSmidth Operation & Maintenance. Benfeldt sees plenty of parallels between racing supercars and making cement. With a sterling resume that includes senior positions at Burmeister & Wain Scandinavian Contractor, DGtek A/S...
New plant announced for Uzbekistan
A new 1200tpd cement production facility has been announced by Sweden's ABA GTS group to be built in Angren, Uzbekistan. The project is expected to be completed by November 2019. At an event held to lay the foundations, the company recognised the growing need for housing, social and road infrastructure in the country. Therefore, the new plant will assist with the rising demand for building ma...
Saurashtra Cement reports 17% sales increase
India's Saurashtra Cement has reported a net loss of INR37.2m (US$511,786) in the quarter ending 30 September 2018, falling from a net profit of INR100.7m in the year-ago period. However, the company's sales increased 16.7 per cent YoY to INR1.34bn from INR1.15bn.
Najran Cement sees increased 3Q loss
Saudi Arabia's Najran Cement saw its 3Q net loss after zakat and tax widen to SAR-23.7m (-6.32m) from SAR-17.1m in the year-ago period. The company’s 3Q sales fell nine per cent from SAR59.1m in 3Q17 to SAR53.8m in 3Q18.
Arkan's 9M18 results are stable at AED676.9m
Arkan Building Materials Company (ABMC) reported that it achieved a net revenue of AED676.9m (US$184.3m) in 9M18 compared to AED677.6m during the 9M17. The growth in pipes, blocks and dry mortar sales offset the decline in clinker sales. Clinker sales were impacted by stiff competition, cheap imports from Iran and a slowdown in summer construction. Higher production costs also affected ABMC...