Cement News tagged: Corporate
Nigeria: Aliko Dangote rewards domestic cement distributors
Dangote Cement Plc has rewarded its distributors with NGN2.4bn (US$7.8m) as sales bonus and for their continuous loyalty. Another NGN5bn has been set aside to assist the distributors in enhancing their sales. Chairman, Aliko Dangote, gave out the cheques ranging from NGN30m to NGN182.9m to distributors at a ceremony in Lagos at the weekend. He hailed them for their long-standing commitmen...
Taiwan Cement President passes away
Leslie Cheng-yun Koo, chairman and president of the Taiwan Cement Corporation, died Monday, 23 January after sustaining critical injuries in a fall on Saturday. Mr Koo (62) was rushed to a hospital on Saturday after falling down a flight of stairs in the Regent Taipei, where he was attending a wedding banquet. He was taken to hospital for emergency treatment, where he remained in an intensi...
UltraTech Q3FY17 reports post-tax profit up 5%
UltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period. Profit before interest, depreciation and tax was INR12.8...
Dangote Ghana’s biggest taxpayer of 2016
The Ghana Revenue Authority has recognised Dangote Cement as being the single largest taxpaying entity in the country, Business Ghana reports. The firm paid taxes and duties totalling GHS150m (US$35.5m) over the past year. “The payment of our taxes demonstrates our commitment to making a significant contribution to the growth of Ghana’s economy. We are looking at continuing this feat in ...
Najran 4Q16 profit falls 73%
Najran Cement reported a fall in profits of 72.55 per cent to SAR14.76m (US$3.93m) in 4Q16 from SAR53.73m in 4Q15. The company attributed the lower profit to reduced sales volumes due to slowing construction activity and an increase in energy prices. Najran Cement's full-year profits reached SAR124.81m, down 51.2 per cent from SAR255.62m reported in 2015.
Semen Indonesia halts Rembang construction
Semen Indonesia has halted the construction of its plant in Rembang, Central Java, following the provincial government's revocation of the plant's environmental licence on 16 January. The company said it has complied with the government ruling despite having completed nearly 99 per cent of the plant. It is taking steps to submit certain required documents, such as an environmental impact an...
Pakistan: Pioneer Cement inaugurates WHR unit at Chenki plant
Pioneer Cement has marked the formal coming into operation of the new waste heat recovery plant at its Chenki plant by celebrating the firm’s environmental credentials. Writing in the Business Recorder, Pioneer notes that the facility’s conversion to coal has increased emissions, but that this has been countered by greater efficiency. “I take this opportunity to convey my appreciation an...
Maple Leaf Cement to raise cement capacity
Maple Leaf Cement Factory Ltd (MLCF) was in the news this week when FLSmidth announced it had secured an EPC contract for a new 7300tpd third line at Daud Khel in Iskanderabad, Mianwali, Pakistan, which will be completed before the end of 2018. The brownfield project is an expansion that is estimated to cost PKR20bn (US$190.8m) and will take grey cement capacity at the factory up to 18,000tpd...
Uganda: Hima Cement to launch US$40m grinding unit
LafargeHolcim-owned Hima Cement is set to launch its grinding unit in Tororo this week, according to a company sources. The new 1Mta grinding plant is located at Nyakesia, Rubongi, and will boosts Hima Cement’s production capacity to 1.9Mta. In an earlier statement, Hima Cement Country CEO, Daniel Pettersson, said that the aim of building the grinding station is to meet the increasing d...
South Africa: PPC to fund Slurry Kiln 9 project from B-BBEE deal
JSE-listed cement maker PPC says it has started structuring its new broad-based black economic empowerment (B-BBEE) agreement, after it had concluded subscription agreements of another B-BBEE deal, from which the firm received ZAR1bn (US$73.7m). Sibonginkosi Nyanga, an analyst at Momentum SP Reid Securities, said the introduction of the new B-BBEE codes meant that companies had to relook a...
Saudi Arabia: Northern Cement profits down 57% in 4Q16
Northern Region Cement Co reported a 57.3% YoY decline in profits in the fourth quarter of 2016, according to the company's filing to the Saudi Stock Exchange (Tadawul). Profits reached SAR16.91m (US$4.51m), down from SAR39.62m in 4Q15 and -43.8 per cent when compared with the 3Q16. The decline is attributed to lower sales due to intense competition, lower selling prices and reduces vol...
LafargeHolcim's Olsen welcomes US infrastructure pledge
Eric Olsen, CEO of LafargeHolcim, has welcomed President-elect Donald Trump’s commitment to increasing infrastructure spending in the United States, CNBC reports. "We've believed for many years the US needs a significant boost in infrastructure, if you look at the status of bridges, roads... core infrastructure in the US needs real investment and we're heartened to see that that's coming", ...
Colombia: OHL Industrial to build new Ecocementos plant
Spanish construction firm OHL Industrial is to build a new 1.35Mta cement plant in Sonson, Colombia, at a cost of EUR224.6m (US$240m), Construction Index reports. The integrated plant has been commissioned by Ecocementos, a joint venture between Colombia’s Corona and Spain’s Cementos Molins. Equipment for the facility will be supplied by FLSmidth .
Arabian Cement profits down 84% in 4Q16
Arabian Cement Company have reported an 84.36 per cent YoY fall in net profit in the 4Q16, according to a bourse filing. Profits reached SAR24m (US$6.4m) in 4Q16 compared to SAR153.5m in the corresponding period of the previous year. A decrease in gross profit by SAR125m was a result of a decline in sales volume and prices, as well as the increase in general and administrative expenses by a...
USA: TAKRAF acquires bulk handling company
Global mining and bulk material handling equipment supplier, TAKRAF, has acquired the assets of FMC Technologies' Material Handling Systems (FMC MHS) business unit based in Lansdale, Pennsylvania, USA. For over 100 years, FMC MHS has provided systems expertise by engineering, procuring, and construction assistance of complete material handling systems for a variety of industries, including ...
Canada: McInnis Cement plant nears completion
The new Port Daniel-Gascons cement plant of McInnis Cement, Canada, was completed for nearly 90 per cent in December, according to company reports. "The completion of the construction of the cement plant and the deepwater terminal is proceeding smoothly with a full workforce ready to put the finishing touches to this ambitious project,” said a McInnis spokesperson. Propelled by an increa...