Cement News tagged: Corporate
Pakistan: Attock Cement net profit of US$13.1m
Attock Cement Ltd has announced a net profit of PKR1.378bn (US$13.1m), translating into the earnings/share (EPS) of PKR12.03 for the half-year ended 31 December 2016, which is 19 per cent higher than the profits of PKR1.152bn, and the EPS of PKR10.07 announced during the same period of the last year. The surge in profitability can be attributed to higher sales, which stood at PKR7.228bn for ...
Saudi Arabia: new chairman for Tabuk Cement
Saeed bin Saeed Obaid is appointed as the new chairman of Tabuk Cement, Saudi Arabia. He will succeed Khalid Bin Saleh Al-Shathry. Tabuk Cement said at its ordinary general meeting elected on Thursday, 26 January, the new board members for a three-year period.
Lucky Cement sees half-year profits rise 12.5% to US$67m
Lucky Cement has announced that its profits rose by 12.5 per cent YoY in the last six months of 2016 to PKR7bn (US$67m). In a statement to the Pakistan Stock Exchange, Lucky revealed that it had sold 3.5Mt of cement and 235,000t of clinker during the first six months of FY17. Cement sales improved over the previous year by 5.4 per cent, while no clinker sales at all took place in the corres...
New Zealand: Golden Bay Cement is still going strong after 100 years
Golden Bay Cement's Portland plant clocked over 100 years of buiness last year, when it also celebrated a new 6000t storage silo, ship loading facility upgrades and its workers recently spoke about its importance in the community. The plant began in December 1916 but can trace its roots back to 1884 when Nathaniel Wilson founded the Wilson Portland Concrete Co. Three generations of the Wils...
Malaysia: Borneo Oil signs US$18m limestone deposit deal
According to reports in the Star newspaper, Borneo Oil has signed a 30-year deal enabling it to mine marble and limestone in Lahad Datu, Borneo. In an announcement to the Malaysian stock exchange, Borneo oil revealed it had paid MYR80m (US$18m) for the right to mine reserves estimated at 24.5Mt. The company declared that it is now positioned to become “a substantial player in the supply ...
Qatar National Cement reports a 14% increase in 4Q profit
Qatar National Cement reported a profit rise of 14.4 per cent YoY to QAR119.62m (US$32.8m) in 4Q16 from QAR104.6m in 4Q15. Full-year 2016 profits increased 2.5 per cent YoY to QAR475.1m from QAR463.55m.
SCG predicts Thai cement consumption will recover in 2017
Despite a disappointing performance in 2016, Siam Cement Group believes that demand in the Thai market will recover in 2017, reaching some 40Mt, the Bangkok Post reports. In figures released for the fourth quarter of 2016, SCG revealed that domestic demand fell three per cent YoY. For 2016 as a whole, demand fell by two per cent. The company also saw a decline in exports, shipping 2.6Mt ...
Cemex and GCC announce offering to sell 23% stake in GCC
Cemex, SAB de CV and Grupo Cementos de Chihuahua, SAB de CV (GCC) announced that they will commence offerings that are expected to include an aggregate of up to 76,483,332 shares of common stock of GCC, currently owned by Cemex at a price range of between MXN95.00 to 115.00/share, Cemex currently directly owns 23 per cent of the outstanding share capital of GCC and, additionally, a minority...
Saudi Arabia: Yamama Cement mothballs five clinker lines
In an announcement to the Saudi Arabian stock exchange, Yamama Cement has said that it will temporarily close five clinker production lines with a combined capacity of 5600tpd. The company said that current market market conditions had led to a rise in clinker stocks throughout the sector in Saudi Arabia and for this reason the firm had decided to suspend production at its oldest facilities.
Eagle Materials improves profit by 44 per cent
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2016 increased by 3.7 per cent to US$1.01bn. The trading profit before corporate overheads showed a strong recovery and rose by 37.5 per cent to US$283.9m, of which cement contributed 44.9 per cent compared with 56.2 per cent a year earlier. The group tradi...
Uganda: Hima Cement begins construction of Tororo grinding station
Hima Cement has begun work on a US$40m grinding station in the Tororo district of eastern Uganda, The Observer reports. The 1Mta plant is being built in a region that already plays host to Tororo Cement. During the groundbreaking ceremony, Hima’s CEO, Daniel Pettersson, said that the availability of limestone deposits had drawn his firm to the Tororo region. “We have enough for [approxim...
CIMAT posts revenues down by a quarter for 2016
Ciment de l’Atlas (CIMAT) expects to report revenues of MAD2.16bn (US$215.7m) in 2016, compared with MAD2.67bn the year prior. The company attributes the drop to the deceleration of export sales. Net profit in 2016 reached MAD519m. For 2017 the company forecasts revenues to slip to MAD2.159bn with a net profit of MAD526m. CIMAT envisages a broad geographic presence by exten...
Cemex's subsidiary announces successful takeover bid for TCL
Cemex SAB de CV has announced that its indirect subsidiary, Sierra Trading (Sierra), having received the Foreign Investment License from the Trinidad and Tobago Ministry of Finance, disclosed that all terms and conditions of the offer made, to acquire up to 132,616,942 ordinary shares for TT$5.07 (US$0.76) in cash per share in Trinidad Cement Ltd have been complied with. "We are satisfied wi...
Russia: Sibirsky Cement reports 17% drop in output
Production at the Russian cement company Sibirsky Cement fell 17 per cent YoY to 3.169Mt in 2016, said the company in a statement. The company attributed to declining sales to contracting domestic demand. Sibirsky expects demand for cement to fall 8-10 per cent to 4.7-4.8Mt in 2017. Output at Topkinsky Cement, Kemerovo region, declined 22 per cent YoY to 2.15Mt in 2016 while Krasnoyarsk...
Pakistan: Cherat plans third production line
Pakistan cement producer Cherat Cement Company has disclosed that it will undertake another expansion of some 2.34Mta (7100tpd) at its existing site of Nowshera, Khyber-Pakhtunkhwa, in north of the country. Azam Faruque, Cherat Cement's CEO has informed Pakistan Stock Exchange (PSX) that it would take its total cement capacity to around 4.64Mta. The Board of Directors has authorised th...
Lithuania: Akmenes largely offsets decline in Russia exports
Preliminary data show that Lithuania’s Akmenes Cementas posted EUR51m in total revenue, down by EUR4.4m on 2015. Around 60 per cent of this revenue was generated in the domestic market, a further 20 per cent in other Baltic states and Belarus while the balance came from sales in Nordic countries. Exports to Russia’s exclave of Kaliningrad used to account for around 30 per cent of its annu...