Cement News tagged: Corporate
India: Birla selects Lodestar for new branding exercise
The MP Birla Group has chosen Lodestar UM to handle the media duties of its cement business. As a first step in its new branding exercise, MP Birla has launched “Perfect”, a premium Portland Pozzolana cement, in Central India.
UK: Breedon Group's revenues up by 42.8% in 2016
Bredon Group Plc's revenues for 2016 grew by 42.8 per cent to GBP454.7m and underlying earnings before interest and tax (EBIT) increased by 57.8 per cent to GBP59.6m, including a five-month contribution from newly-acquired Hope Construction Materials (‘Hope’). This equates to an underlying EBIT margin of 13.1 per cent (2015:11.9 per cent), reflecting good progress towards our 2020 target of 1...
United States: Vallejo blocks plans for new Ecocem plant
An application for planning permission to build a new EUR45m (US$47.5m) grinding mill in Vallejo, California, has been refused by the local government, the Irish Times reports. Orecem Americas, a subsidiary of Ireland's Ecocem, had put forward the plans to build the plant, but residents had raised concerns that it would lead to an increase in the number of heavy trucks on local roads and wo...
Egypt: Alexandria Cement reports EGP34.1m in 4Q16
Alexandria Cement posted a profit of EGP34.1m (US$1.93m) in 4Q16, a significant improvement of its business result when compared with the EGP98.5m loss posted in 4Q15. In 2016 losses fell by 76.1 per cent from EGP-214.2m in 2015 to EGP-51.12m one year later. Total sales increased 25 per cent YoY to EGP2.58bn, up from EGP2.05bn in 2015.
Saudi Arabia: Najran shuts down Line 2
Saudi Arabia’s Najran Cement Co has suspended production at a 3000tpd clinker line. The temporary shutdown of company’s Line 2 is due to the current conditions in the market. The decline in cement demand has led to an increase in inventories.
SCG Cement buys Vietnam Construction Materials
Siam Cement Group’s wholly-owned subsidiary SCG Cement-Building Materials Co has acquired 100 per cent of Vietnam Construction Materials JSC, an integrated cement operator in central Vietnam. The US$440m enterprise value of this transaction includes net debt and additional efficiency improvement investment in the acquired assets. This deal brings SCG’s cement capacity across ASEAN outsid...
Trinidad Cement forecasts a competitive 2017
Trinidad Cement Ltd (TCL) has forecast construction activity to remain sluggish during the coming year, particularly in Trinidad and Tobago and Barbados, in the face of "increasingly aggressive competition in the region". In its audited financial report for the 12 months ending December 2016, TCL, which is the subject of a takeover by the Mexican-based cement giant Cemex, said it will contin...
Cementir's cement and clinker sales rise by 7.9% in 2016
Cementir Holding’s cement and clinker sales for 2016 amounted to 10.1Mt in 2016, up 7.9 per cent on 2015. Strong sales in Malaysia and Scandinavia offset poor returns in Italy, where cement sales fell, while the depreciation of local currencies compared to the EUR was negative EUR46.8m. Danish grey and white cement sales rose by 9.5 per cent during 2016 although ready-mix sales fell -1.3 per...
Thailand: Siam City Cement to focus on malta cement
Siam City Cement Plc is looking to expand its production of malta cement to gain better returns from expected market growth driven by increased infrastructure spending in Thailand. Siam City Cement forecasts that the domestic cement market will expand by 1-3 per cent this year and it is focussing on special grade 'malta cement' which is designed for types of road, railways and reservoirs...
Tanzania: Dangote prepares for coal extraction in Ngaka
Tanzanian President, John Magufuli, has taken action to enable Dangote Cement to start mining its own coal to power its new US$650m Mtwara cement factory. Speaking at the official launch of the 580 trucks, which will be used by Dangote to transport cement from the southern region of Mtwara to the rest of the country, Mr Magufuli gave a seven-day ultimatum for the Ministry of Energy and Miner...
LafargeHolcim admits making ‘unacceptable’ payments to Syrian armed groups
LafargeHolcim has released details of an internal investigation into the conduct of its employees running the Jalabiya cement works up to 2014. The investigation was launched in response to allegations in Le Monde, which stated that the firm had entered into deals with armed groups including Islamic State in order to protect its staff and business interests. The results of the internal i...
Qatar: QNCC to increase production and dispose of plant
Qatar National Cement Company (QNCC) is planning to increase its cement production capacity by 5500tpd during the first half of the current year. Salem bin Butti Al Naimi, chairman and managing Director of QNCC, made the announcement at a shareholders general assembly on Wednesday. "Board of Directors Plan for 2017 is to commission the two cement mills of Plant (5) during the first half of ...
LafargeHolcim's net profits double YoY in 2016
LafargeHolcim saw its net profit double on an annual basis to CHF1.9bn for 2016 (US$1.87bn), against CHF970m a year earlier. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reached CHF1.611bn for the fourth quarter of 2016. In comparison, Reuters' analysts targeted some CHF1.52bn. Revenue for the last quarter stood at CHF6.526bn while Reuters' analysts ...
Holcim Croatia boosts revenues thanks to exports
Holcim Croatia saw its revenues rise by seven per cent YoY in 2016 as it improved exports. In addition, the company reduced its expenditures and kept cash flow high. However, the domestic market maintained the pressure to lower prices. Unfortunately, on the domestic market there is still a constant pressure to reduce prices, so all the effort we've invested as a team could actually have had ...
Holcim Philppines reports lower net income in 2016
Holcim Philippines (LafargeHolcim group) reported a lower net income of PHP6.8bn (US$134.8m) last year, compared to the PHP8.1bn recorded in 2015. The 2015 profit included a one-time gain of PHP2.6bn from the revaluation of Holcim’s investment in an affiliate. Strong revenues and effective cost management efforts lifted the company’s earnings. With higher revenues and manufacturing and enha...
LafargeHolcim interested in supply US-Mexican border wall
LafargeHolcim has expressed an interest in supplying construction materials to the US-Mexican border wall to be built under the Trump administration. The wall is one of the most controversial electoral promises of the new US president, Donald Trump. The invitation to tender requires interested parties to submit a prototype by 10 March. The US government plans to award prototypes as early as ...