Cement News tagged: Corporate
Lafarge Malaysia earnings expected to bounce back
Lafarge Malaysia Bhd’s (Lafarge) earnings are expected to bounce back in FY17 and FY18 on the back of local cement sales growth as well as contributions from its collaboration with the federal government, according to analysis by AmInvestment Bank Bhd quoted in The Borneo Post. Following a disappointing FY16, the investment bank anticipates that Lafarge’s earnings are expected to rise by 4...
Arkan to close UAE factory
Building materials industrial conglomerate Arkan has announced its decision to permanently close its Emirates Cement Factory (ECF) in Al Ain, Gulf Digital News has reported. The announcement from Arkan's board comes following the successful consolidation of the company's cement business. Arkan had announced in December that owing to significant gas and electricity price increases from 1 ...
Peru: Unacem sees sales slip 4.3% in 2016
Unacem sales fell 4.3 per cent in 2016 to PEN1865m in 2016. In Ecuador, its subsidiary Unacem Ecuador sold 1.2Mt of cement at a value of US$153.2m. In the US Drake Cement in Arizona sold 546,000st or US$83m. The Peruvian cement company produced 3.4Mt of cement at its Atacongo works near Lima and 1.7Mt at the Condorcocha works in Junín. The company’s total output accounted for around 53 per ...
Semen Baturaja full-year profit down 21%, revenue rises slightly
Indonesia state-owned producer Semen Baturaja’s profit declined by 21 per cent in 2016 to IDR274.09bn (US$20.6m) due to revenue growth being lower than its costs, the Jakarta Post reports. Last year Semen Baturaja's revenue rose by 4.1 per cent to IDR1.52trn versus IDR1.46trn a year earlier, while costs increased by 4.4 per cent in 2016 to IDR1.01trn. This year the company anticipates a 2...
Camargo reportedly selling cement unit
It has been reported by local press that Camargo Correa SA, the Brazilian family-owned conglomerate that has exited some of its businesses over the past year, has put its InterCement SA unit up for sale. According to a column in newspaper O Globo, Camargo Correa has received offers from Cemex and another unnamed Latin America-based cement producer. Globo columnist Lauro Jardim values the Int...
Ukraine: Dyckerhoff Cement losses increase five-fold
Preliminary figures indicate that in 2016, Dyckerhoff Cement Ukraine, part of Dyckerhoff AG, increased its loss by UAH66m (US$2.46m) to UAH80.82m. The company's assets as of late 2016 were UAH2.16bn, long-term liabilities were UAH2.69bn and current liabilities were UAH483.96m. Dyckerhoff Cement Ukraine reported a loss of UAH14.82m for 2015.
Cemex will not supply border wall
Mexico-based Cemex says it will not participate in construction of President Donald Trump's border wall. The company has been viewed as a potential beneficiary of President Trump’s plans, but Cemex has come under intense pressure at home to boycott the multi-billion-dollar project. According to the US General Services Administration's Federal Business Opportunities website, Cemex has not...
Uruguay: Ancap to make further production cuts
Ancap is expected to make cuts in overtime, security and cleaning personnel to move the company's results closer to the black while keeping both plants at Minas and Paysandú operational, according to the newspaper El País de Montevideo. Losses at the companies reached US$207m in the past decade with 2016 results indicating a loss of US$25m. To return Ancap to profitability, the company’s sy...
Cemex launches Cemex Ventures
Cemex has announced the launch of Cemex Ventures, the company's open innovation and venture capital unit. According to a statement by the company, Cemex Ventures will develop opportunities in key focus areas outside of Cemex’s core business, such as urban development, connectivity improvements within the construction value chain, new construction trends and technologies, and the creation a...
HeidelbergCement to suspend new investment in Turkey
HeidelbergCement is to suspend all new investment in Turkey due to the political uncertainty in the country, said Dr Bernd Scheifele, CEO of HeidelbergCement. He expressed concern about the current situation in Turkey, which he considers unfavourable to its economic development. A referendum on strengthening presidential powers is due to take place in Turkey in April. The refusal of Germa...
AfriSam reported to replace CEO ahead of PPC merger
To help enable the merger with rival PPC, AfriSam is set to replace its CEO, Stephan Olivier after nearly seven years of leading the firm, according to local press reports in South Africa. He would be replaced on a short-term contract by Rob Wessels, a former chief investment officer at AfriSam's black empowerment partner Phembani Group. The new management team would potentially impleme...
Kuwait Cement FY16 profit up to KWD19.5m
Kuwait Cement reported a modest increase of its full-year profit from KWD19.3m (US$63.2m) in FY15 to KWD19.5m in FY16. The company’s total operating revenue advanced from KWD92.2m in FY15 to KWD98.6m in FY16.
Macedonia: Cementarnica Usje non-cons net profit falls 5% in 2016
Macedonia’s Cementarnica Usje, a subsidiary of Greece-based cement producer Titan, saw a five per cent YoY decrease in its non-consolidated net profit to MKD1.2bn (US$20.7m) in 2016 as a result of higher production costs. Non-consolidated operating expenses increased four per cent YoY to MKD3.14bn while operating revenue remained stable at MKD4.43bn. Operating profits fell six per cent to M...
India: Government to sell non-operational CCI units
The government of India has announced that it plans to sell off five non-operational units of the Cement Corporation of India (CCI) as the first step towards complete divestment of the company, the Times of India reports. "As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries an...
Holcim Philippines, Robinson Land sign cement supply contract
Holcim Philippines will support the expansion of the Philippines’ leading real estate developer, Robinsons Land Corp (RLC) as it provides cement to 44 projects to be built by RLC by 2019. The cement producer will supply 19m bags of its general purpose cement Excel, masonry cement Wallright and high-performance infrastructure cement 4X for the construction of RLC projects such as office and...
Saudi Arabia: Northern Region Cement Co appoints new board top
Saudi Arabia’s Northern Region Cement Co has appointed Sulaiman bin Salim Al-Harbi as the Board's chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bourse filing on Wednesday. The company said that the board's new session will start on 16 March and last for three years, ending on 15 March 2020.