Cement News tagged: Corporate
Saudi Arabia: Hail Cement Q4 profits decline 21%
Hail Cement Company (HCC) reported a 20.99 per cent decrease in net profit for the 4Q16. HCC achieved SAR23.67m (US$6.31m) net profit in the quarter, falling from SAR29.95m in the 4Q15. Profits fell by 7.95 per cent to SAR104.52m in 2016 compared to SAR113.55m in 2015. The decline in net profits was attributed to lower total sales due to weak demand, despite unrealised investment profits in...
Brazil: Magnesita installs SAP global management system
Magnesita has adopted SAP ERP to unify business management in 17 countries in which it operates. The Brazilian refractory company has 27 facilities in 17 countries on four continents, and has just completed the installation of the SAP business management solution to converge its process systems on to one platform. The Pangea Project, as it was named, considered a global operational platfo...
Oman: Raysut Cement net profits rise in 2016
Raysut Cement has reported a 1.02 per cent growth in net profits of OMR21.17m (US$54.98m) for 2016, against OMR20.95m reached in 2015. Total revenue of the company fell by 2.2 per cent to OMR92.59m in 2016, from OMR94.68m in 2015, according to preliminary results posted by the company on the MSM website. The cost of sales of the company edged up by 3.3 per cent to OMR61.13m in 2016, from ...
Ethiopia: Mugher Cement switches to coal
The Mugher cement project has replaced heavy fuel oil with coal at its 5000tpd plant. "The replacement was crucial to increase quality, reduce production delay and supply energy on a regular basis," said Project Manager Engineer, Mehari Alemu. " Apart from this, the new energy source significantly cuts the exaggerated cost for heavy fuel oil." "Currently the enterprise uses imported e...
Kazakhstan: Steppe Cement FY16 results
Steppe Cement Ltd recorded revenue for the year ended 31 December 2016 of KZT17.94bn (US$54.01m), representing an eight per cent drop YoY from KZT19.53bn recorded last year. A sales volume of 1,570,140t of cement was achieved in 2016, a four per cent decline from 1,643,136t reported in the previous year. Average price (ex-VAT) for delivered cement was KZT11,426/t (US$34.4/t) in 2016, a f...
Medcem Cameroon’s local shareholder outlines plans
The Cameroonian part-owner of the country’s newest cement producer, Medcem, has spoken of the ambitions behind his partnership with Turkish investors, Business Cameroon reports. Emmanuel Peughouia is the owner of the Quifeurou group of hardware stores and plans to use this network of outlets to distribute Medcem’s product. Quifeurou has 56 stores in 35 locations in Cameroon, Chad and the Ce...
India: Andani Group to construct new 10Mta clinker plant
Adani Group Chairman, Gautam Adani, has announced that Adani Cementation (ACL) will be the name of a new company to set up a 10Mta clinker plant with an investment of INR55,000m (US$809.1m). Adani Enterprises has already incorporated the new company, which will carry out the cement business in Gujarat. "In the past five years, we have invested INR480,000m in Gujarat," Adani said. Adani ...
Kenya: Savannah Cement resumes operations
Savannah Cement has reopened operations after temporary closure over the Christmas season to undergo major renovation. “We have decided that going forward we will be doing annual maintenance of the plant during the festive season to enable us meet our customer needs more efficiently,” Savannah Managing Director, Ronald Ndegwa, said. The cement manufacturer replaced wear parts in the grin...
India: Anjani Portland Cement commissions power plant
According to reports in the Hindu, Anjani Portland Cement has commissioned a 16MW captive coal-fired power plant at its cement unit in Telangana.
India: JSW Cement takes 37% stake in Shiva Cement
JSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of pu...
India: JSW Cement acquiring controlling stake in Shiva Cement
JSW Cement Ltd is to buy the entire promoter holding in cement maker Shiva Cement Ltd and launch an open offer to acquire another 32 per cent from the company's public equity shareholders. Odisha-based Shiva Cement confirmed that it has agreed to sell its 35.6 per cent promoter holding to JSW Cement at INR14/share (US$0.20/share). In a separate BSE filing, JM Financial Institutional Secu...
LafargeHolcim supplied 30 concrete types to Elbphilharmonie
LafargeHolcim will see the completion of new Elbphilharmonie concert facilities in Hamburg, Germany, today. The cement producer delivered some 30 different types of concrete to meet the architects’ aesthetic and technical expectations in building a concert hall with outstanding acoustics and innovative design. A total of 63,000m3 of concrete were delivered by a consortium led by the company’s ...
India: Burnpur Cement blames demonetisation for repayment failures
Burnpur Cement has declared its inability to repay bank loans on Saturday due to demonetisation as its repayments had turned “irregular” with lenders because of “depressed” market conditions. Located in eastern India, Burnpur Cement is looking to raise its production capacity from 0.6Mta to 3Mta, split between two units, at a cost of INR5000m (US$73.3m). The company made a regulatory filing ...
USA: Bessemer Cement partly under Argos ownership
Argos USA purchased 13.92 acres of the 114 acre Bessemer Cement plant site from Essroc Cement Corp for US$1,226,026 in November 2016, according to a deed of transfer from the local recorders Office, reports New Castle News. Jeff Sieg of Lehigh Hanson Inc explained to New Castle News that the sale was part of a Federal Trade Commission required divesture of certain assets related to Heidel...
Semen Indonesia net profit down by 3% in 2016
PT Semen Indonesia Tbk made a net profit of IDR4.01trn (US$301.6m) in 2016, which was lower than the IDR4.52trn the previous year. "National cement growth in the year was down three per cent due to the presence of new industries and the projection of a negative 1.1 per cent growth in December," said Rizkan Chandra, president and director of the company. Mr Chandra went on to say how the ...
Cemex amends Trinidad Cement bid
Cemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra...