Cement News tagged: Corporate
Brazil: Brennand Cimentos plan new 2.2Mta cement plant
Brennand Cimentos, which owns National Cement, has presented to Brazil's Municipal Council for the Environment (COMDEMA) a project to build a 2.2Mta cement plant in Itaiacoca district, Conceição region of Brazil. The new plant is to be called Compania Paraná Cimentos (CPR). The project, with estimated investment of BRL700m (US$221m), has currently applied for a preliminary permit at the En...
Cemex Latam Holdings 9M16 net sales fall 8%
Cemex Latam Holdings SA (CLH) announced that its consolidated net sales reached US$1012m in the 9M16. This is a fall of eight per cent during the first nine months of 2016 compared to same period of 2015. The decline was mainly explained as a result of foreign exchange fluctuations and the effect of lower cement volumes from our operations in Panama and Costa Rica. Jaime Muguiro, CEO of...
Pakistan: Lucky Cement 1QFY2017 profits up 16%
In its financial statement for the first quarter of the financial year starting in July, Lucky Cement has declared profits of PKR4.04bn (US$38.6m), the Express Tribune reports. This represents an increase of 16 per cent compared to the same period last year. Revenues were five per cent higher at PKR19.8bn, but much of the gain was driven by non-cement subsidiaries. Considering the cement...
Holcim Philippines 3Q profits up 15%
Holcim Philippines increased its net profit for 9M16 by nearly 20 per cent YoY to PHP5.4bn (US$111.8m), helped by a double-digit growth in cement sales. For the 3Q alone, the company's net profit rose by 15.3 per cent YoY to PHP1.7bn, which was attributed to strong sales figures and improved operational efficiency. For the 3Q operating cash flow increased by 11 per cent YoY to PHP2.7bn, dri...
Thailand: SCG sees cement revenues fall 19% in 3Q2016
Siam Cement Group (SCG) has announced that in the third quarter of 2016 profits rose by 57 per cent YoY, but at the company's cement and building materials division they saw a decline of 19 per cent. For the nine months to the end of September 2016, SCG’s profits are up 28 per cent on the same period last year, but cement division profits are down 13 per cent. Siam Cement Group has seen rev...
OCL India 2Q net profit up 154% to INR860m
OCL India Ltd reported a 154 per cent surge in in net profit to INR857.1m from INR336.9m for the quarter ended 30 September 2016 as the company derived a higher income from operations. The total income from operations of the Dalmia Group company increased to INR7.192bn from INR6.138bn in the year-ago period. The total expenses increased to INR6,164bn over INR5.72bn in the corresponding quart...
India: JK Lakshmi approves raising INR5bn
A JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boas...
Pakistan: Maple Leaf and Thatta Cement 1QFY16/17
Pakistan's Maple Leaf Cement Factory earned profit after tax of PKR1.185bn (US$11.3m) in July- September 2016 compared to PKR846.72m in the corresponding period last year, representing a 40 per cent rise. The company's net sales increased to PKR5.52bn from PKR4.96bn in 1QFY15/16. It incurred higher distribution cost of PKR373m and administrative expenses of PKR124m from PKR303m and PKR112m ...
HeidelbergCement completes Belgian assets' sale to Aalborg Portland Holding
HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges SA (CCB) to Aalborg Portland Holding SA (Cementir Group). "With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italc...
India: Jaiprakash Associates shareholders agree to sale
Jaiprakash Associates Ltd (JAL) on Monday said its shareholders have approved the sale of the firm's cement business to Aditya Birla Group's UltraTech Cement. Approval from Competition Commission of India (CCI) has been received and the next step involves seeking approval from the concerned High Court and the final approval from capital markets regulator. Earlier this year, the Aditya Birla...
Spain: Portland Valderrivas quadruples 9M loss
FCC subsidiary Cementos Portland Valderrivas of Spain reported a EUR233.3m loss in the first nine months of 2016, quadrupling its loss noted in 9M15. Revenues stood at EUR429.3m, 1.6 per cent below Jan-Sep 2015, as a result of shrinking markets in Spain and Tunisia, according to the company’s filing with the National Market Commission (CNMV). Cement sales advanced 1.7 per cent, aggregates b...
Peru: Cementos Pacasmayo 3Q16 net income falls 21.7%
Cementos Pacasmayo SA's consolidated results for the 3Q16 and nine months (9M16) ended 30 September 2016 recorded cement, concrete and concrete block volumes were down 1.6 per cent, largely due to extraordinary spending in regard to El Niño prevention in 3Q15, says Businesswire. Revenues rose 0.4 per cent to PEN314.2m (US$83.5m), while the consolidated EBITDA of PEN04.5m was up 4.9 per cent...
Mozambique: Metuge cement factory opens
The Metuge cement factory in the Mozambican province of Cabo Delgado began commercial operations on 21 October following an investment of US$24m, Mozambican news agency AIM reported. At the inauguration the President of Mozambique, Filipe Nyusi, said that the new plant will increase overall cement production in the country by six per cent and by 67.6 per cent in the north of the country. AIM...
India: Emami Cement hopes to add 15-20Mta in 3-5 years
India-based Emami Cement has plans to construct new plants that will add 15-20Mta of capacity to its portfolio over the next 3-5 years, as reported by The Times of India. Director of Emami Cement, Aditya Agarwal, said, “We aim to be among the top three players in the cement industry. We expect our cement division's turnover to touch [INR25bn] in 2018-19.” The company, which began operations...
India: ACC commissions Sindri grinding unit
ACC Ltd's 1.35Mta Sindri cement grinding unit in Jharkhand, which is a part of the Jamul Integrated project, has also been commissioned and commercial production has commenced with effect from 22 October 2016. The company's two cement grinding units in Jamul and at Sindri, totalling 2.45Mta, will help strengthen the company's market presence in the eastern region.
Van Aalst and Heila Cranes sign cooperation and distribution aggreement
Agreement signing between Van Aalst Bulk Handling and Heila Cranes Van Aalst Bulk Handling and Heila Cranes have signed an exclusive cooperation and distribution agreement. Giampiero Traetta, CEO of Heila Cranes, said: “We are delighted to further strengthen our cooperation. In recent years, Heila has invested heavily in improving the manipulators. We reviewed and improved the struc...