Cement News tagged: Corporate
Turkey: Akcansa Çimento sees 1.8% rise in FY16 net profit
Akcansa Çimento reported largely-stable revenues of TRY1.46m (U$398.1m) for 2016, when compared with TRY1.46bn in 2015. FY16 net profit increased to TRY286.4m in 2016, up 1.8 per cent YoY. in 2015, the company recorded a net profit of TRY281.1m.
PPC will strengthen its hand with AfriSam merger
The focus of a potential merger in South Africa between two major cement producers caught the eye this week. PPC and AfriSam already have a significant stake in the country’s cement market and by merging PPC would extend its dominance to control some 60 per cent of domestic sales, if it accepts AfriSam's offer to merge. As recently as November, PPC’s chief executive, Darryll Castle, suggeste...
Boral's Australian cement turnover declines
Boral's turnover for the six months to the end of December declined by 4.6 per cent to AUD2093m (EUR1497m), largely reflecting the transfer of US Bricks to joint venture status and the completion of two LNG projects as well as the decline in Western Australia. EBITDA improved by 3.5 per cent to AUD333m (EUR238m) while the trading profit advanced by 5.5 per cent to AUD211m (EUR151m). After a...
Mixed 1HFY17 results for Pakistani cement producers
The latest series of business results of Pakistani cement producers show a mixed performance during the first half of the 2017 financial year. DG Khan Cement Company DG Khan Cement Company Ltd (DGKC) has announced its 1HFY17 financial result. It reported a profit after tax (PAT) of PKR4.506bn (US$42.9m) during 1HFY17 against a PAT of PKR4.080bn during 1HFY16, up 10 per cent, YoY. In l...
India: NTPC seeks partnership for new plant
NTPC Ltd, India’s largest energy conglomerate, plans to expand its business interests into the cement industry, with a view to manufacture cement using fly ash from its power stations and create captive demand for electricity. The state-run company is inviting expression of interest (EOI) from cement makers, offering partnership in the building of the proposed cement plants in the vicinity ...
Eurocement signs LoI for Uzbek cement plant
Russia’s Eurocement and Uzbekistan’s Uzqurilishmateriallari have signed a letter of intent (LoI) to build a cement plant in Uzbekistan. The new 2.4Mta works is expected to raise Eurocement’s production capacity in the country to 4.2Mta by 2020, according to Eurocement President Mikhail Skorokhod. “Besides construction of the cement plant, we are also discussing projects to upgrade the li...
India: Prism results point to mild demonetisation impact
Prism Cement has released its trading statement for the three months to December 2016, revealing that cement sales volumes have only been slightly harmed by the impact of demonetisation. The firm sold 1.20Mt of cement between September and December, compared with 1.22Mt in the same period the previous year. Revenues for Prism’s cement were even less affected, declining by just 0.8 per cent ...
Qatar: QNCC invites BoD applications
The Board of Directors of Qatar National Cement Company (QNCC) is welcoming applications from its shareholders to apply for nomination of the Board of Directors as representatives of the private sector for next three years (2017-19). Applicants must: be aged 21 or over, own a minimum of 20,000 shares, not be a member in more than three company boards in Qatar, not be convicted of any crimes...
USA: Martin Marietta 4Q16 and full-year results
For the 4Q16 Martin Marietta achieved net sales of US$889m compared with US$780.8m in the 4Q15. EBITDA was US$229.7m compared with US$204.4m in 4Q15. For the full year, net sales were US$3.58bn, compared with US$3.27bn in 2015. EBITDA was US$971.6m, compared with US$750.7m. Chairman, President and CEO of Martin Marietta, Ward Nye, said: "Every business across our enterprise continues to m...
South Korea: Hyundai Cement sale bids
Six contenders have submitted a bid for Hyundai Cement Company. Ssangyong Cement Industrial Co, Halla Cement Corp, IMM Private Equity, LK Investment Partners, Hyundai Sungwoo Holdings Co and PineStreet Group have each submitted terms to acquire a 84.56 per cent stake in Hyundai Cement offered by creditors. Ssangyong Cement Industrial and Halla Cement are expected to lead the buyout, as repo...
UAE: Sharjah Cement sees 20% fall in 4Q profits
Sharjah Cement and Industrial Development Co reported a 20 per cent YoY decrease in profits for 4Q16. Profits declined from AED24.52m (US$6.68m) in 4Q15 to AED1958m in 4Q16. Net profit for 2016 amounted to AED60m, 3.2 per cent down from AED62m in 2015, according to a bourse filing. Revenues decreased in 2016 to AED612m from AED639m for 2015.
Peru: Cementos Pacasmayo sees 13% drop in sales in 4Q16
Peru's Cementos Pacasmayo saw its cement, concrete and blocks sales decline by 12.7 per cent YoY in 4Q16. However, there was extraordinary spending associated with El Niño prevention in the quarter. Compared to 3Q16 sales volumes increased. Revenues decreased 9.8 per cent YoY to PEN316.7m (US$97.2m) while consolidated EBITDA fell 20.4 per cent YoY to PEN88.8m. The fall in EBITDA has been at...
David P Steiner newest Vulcan board member
Vulcan Materials Co elected David P Steiner to its board of directors with immediate effect. Last November, Mr Steiner resigned as CEO of Waste Management. He currently served on the board of directors of FedEx Corp. "We are extremely pleased to welcome David to the Board. He brings to Vulcan a wealth of expertise in business operations, land management, transportation and logistics, fi...
PT Semen Indonesia president confident Rembang plant will receive permit
PT Semen Indonesia's President Director, Rizkan Chandra, is confident that Central Java Governor Ganjar Pranowo will issue an environmental permit for the construction of the company's cement plant in Rembang, Central Java province. Earlier on 16 January, Ganjar revoked PT Semen Indonesia’s environmental permit required for plant construction, production and development. The governor had...
USA: Ecocem's Vallejo mill project hits City Hall opposition
A US local authority has formally opposed Ecocem’s plans for a EUR45m mill project in Vallejo. Orcem Americas, a subsidiary of Irish cement firm Ecocem, wants to construct a grinding mill close to San Francisco, on the site of an old flour mill on Vallejo’s waterfront, but residents fear its environmental impact. Vallejo City Hall has called on the local planning commission to deny permissio...
HeidelbergCement releases 4Q16 and 2016 results
HeidelbergCement saw its cement volumes rise by 50 per cent YoY to 30.8Mt from 20.5Mt in the 4Q16, according to a company statement. Aggregates sales volumes recorded an increase of 16 per cent YoY to 73.3Mt (previous year: 63.3Mt). They include the shipments of Italcementi in France, Italy, Spain, Greece, Morocco and North America. In the 4Q16 total ready-mixed concrete deliveries ros...