Cement News tagged: Corporate
Pakistan's cement industry performance sees profitability soar during 1HF17
Pakistan's cement industry performed well during 1HFY17, report local analysts. The industry's profitability soared by 12 per cent YoY to PKR29bn (US$276m), as compared to PKR26bn recorded in the corresponding period last year. E xperts attribute the increase in profitability to higher dispatches, improved gross margins to 43 from 42 per cent and lower financial costs (-44 per cent YoY). Ac...
China: Shanshui Cement defaults on bond
Shandong Shanshui Cement Group has defaulted on a CNY1bn (US$145m) bond, according to China Merchants Bank. With a huge amount of debt due in 2017, China is facing rising default risks as growth moderates and Beijing switches to a tighter monetary policy. Shanshui hasn't been able to raise enough money to fully repay the three-year debt, which was due 27 February, the underwriter said in...
Cementos Argos' 4Q16 results boosted by US operations
Cementos Argos has announced that its 4Q16 results saw an 8.7 per cent rise in EBITDA and 70 per cent of its revenues was generated from operations outside of its domestic market of Colombia. Group dispatched volumes of cement and ready-mix were down by 5.5 per cent and 6.5 per cent, respectively in the 4Q16. Consolidated EBITDA was COP396bn (US$137m), achieving an EBITDA margin of 19.7...
Turkey: Sabanci Holding announce investment funds
Turkish conglomerate Sabanci Holding has plans to make TRY4.5bn worth (US$1.25bn) of investments in 2017, the group's CEO said. The holding has plans to invest the funds in Turkey throughout 2017, up TRY0.4bn (US$110m) or 10 per cent from last year, Zafer Kurtul said at a Sabancı group annual briefing meeting where last year’s financials were announced. Mr Kurtul said nearly 80 per cent of ...
Tanzania: Lake Cement hopes to start construction of Bagamoyo plant soon
A senior official at Lake Cement Ltd has confirmed that the company still plans to establish a US$150m cement plant in Chalinxe-Tarwanda, Bagamoyo, Tanzania. Plans were originally anounced back in November 2016, when it was said that construction would start in mid-2017. Afroz Ansari, Lake Cement's asscoiate vice president, said: "The plan hasn't changed. The planned plant in Bagamoyo will ...
Egypt: Sinai Cement reports FY16 EGP14.6m net profit
Sinai Cement reported a consolidated net profit of EGP14.6m (US$901,243) for FY16, a significant improvement when compared with the previous year when the company posted a net loss of EGP38.9m. Consolidated net sales were up from EGP975m in FY15 to EGP1.3bn one year later.
National Railways of Zimbabwe benefits from PPC business
PPC’s new Msasa plant in Harare, Zimbabwe, has enabled National Railways of Zimbabwe (NRZ) to move 1Mt of freight between October 2016 and February this year, following the purchase of 31 wagons from China. Last November, PPC Cement commissioned a US$85m plant in Harare that produces 0.7Mta of cement but engaged the NRZ to move clinker from its Colleen Bawn plant, near Gwanda, to the Msasa o...
Indonesia: PT Semen Padang secures coal supply
PT Semen Padang has signed a purchase order with BlackGold Natural Resources Ltd's subsidiary PT Samantaka Batubara, to the value of US$12.6m to supply coal to the cement producer. PT Samantaka Batubara expects to complete the order within the next 11 months for Cement Padang, a state-owned company and a subsidiary of PT Semen Indonesia (Persero) Tbk. Mr Philip Rickard, CEO of the BlackGol...
Pakistan: Power Cement reports 20% fall in profit after tax
Pakistan’s Power Cement Ltd reported a decline of 20 per cent in its profit after tax to PKR242m in 1HFY17. The company’s sales rose 25 per cent to PKR2.06bn during this period against PKR1.64bn in the equivalent period of the previous year, according to the firm’s filing with the Pakistan Stock Exchange. The company incurred a distribution cost of PKR54m and administrative expenses of PKR...
USA: Summit cement profits rise 45% on back of higher volumes and prices
In a trading statement for 2016, Summit Materials has announced that profits at its cement business rose by 45.1 per cent YoY, with volumes rising by 37 per cent and prices increasing by 7.5 per cent. Summit’s cement segment produced revenues of US$250m in 2016, with profits reaching US$127m in the same period. The business produced 2.14Mt of cement over the year, of which 0.6Mt was produce...
South Korea: Sungshin Cement back in the black in 2016
South Korean cement producer Sungshin Cement Co Ltd improved its revenues by 1.2 per cent to KRW686.6bn in 2016 from KRW678.7bn, according to the country’s Financial Supervisory Service. The company’s operating profit rose from KRW35.26bn to KRW36.83bn while in terms of net profit, the firm swung from a KRW33.99bn loss to a net profit of KRW12.4bn, according to preliminary and unaudited res...
Holcim to invest EUR900,000+ in Carboneras in 2017
Holcim has earmarked EUR900,000 to carry out a series of capex projects in 2017 at its Carboneras plant in Spain. Projects will include a system for collecting and treating rainwater and improve the roofing on some material storage areas. In 2016 the Carboneras works has invested more than EUR120,000 in various initiative to reduce its environmental impact and in best-available practice tec...
Brazil: Votorantim/ArcelorMittal to combine steel businesses
ArcelorMittal Brasil SA and Votorantim SA announced the signing of a definitive agreement, which will see Votorantim's long steel businesses in Brazil, Votorantim Siderurgia, become a subsidiary of ArcelorMittal Brasil. Votorantim will hold a minority stake in ArcelorMittal Brasil. Votorantim's long steel operations in Argentina (Acerbrag) and Colombia (PazdelRío) were not included in the tran...
ARM cement plans Kenya capacity boost
Kenya's ARM Cement plans to expand its grinding capacity at its Athi River plant in Kenya to add 0.5Mta of cement to the company's production. "We are completing a grinding plant expansion in Athi River which will give us an additional 500,000 tonnes of cement in the next 12 to 14 months," ARM’s Managing Director, Pradeep Paunrana said. While he did not disclose the value of the project he ...
Mexico: Elementia 4Q16 and 12M16 results
Elementia announced its financial and operating results for the 4Q16 and 12-month period ended 31 December 2016 with net sales increasing by 36 per cent in 4Q16 and 12 per cent in 12M16, reaching US$5.45bn and US$19.09bn, respectively. Company EBITDA rose 48 per cent in 4Q16 and by 20 per cent in 12M16, reaching US$986m and US$3.59bn, respectively. During the 4Q16, the Mexico cement divisi...
Pakistan: Kohat Cement earnings up 4% YoY
Kohat Cement reported earnings of PKR2.2bn (US$20.98m) in 1HFY17 compared to PKR2.1bn reported in the same period last year, up four per cent YoY. The result accompanied a second interim cash dividend of PKR8/share, taking cumulative 1HFY17 payout to PKR12/share. The company's total sale of cement stood at 1.06Mt compared to 1.03Mt in the first six months of the last financial year. Koh...