Cement News tagged: Corporate
Kenya: ARM Cement reportedly nears deal with foreign investor on stake
Kenyan producer ARM Cement is in the “final lap of concluding investment details with a potential investor,” CEO, Pradeep Paunrana, told Bloomberg in a recent interview. In December ARM announced it was in talks with a foreign institution that planned to invest as much as US$125m. The company has faced “liquidity challenges” that cast doubt on whether it is able to meet obligations on its com...
Ciments du Maroc sees rise in 2015 net profit
Ciments du Maroc, part of the Italcementi group, posted an 8.5 per cent rise in turnover to MAD3.73bn (US$376m) in 2015. Cement sales advanced 1.2 per cent while ready-mix concrete and aggregate sales increased by 38 and 30 per cent, respectively. The company’s operating result improved by 14.8 per cent to MAD1.17bn and net profit was up 34.5 per cent to MAD1.02bn.
CRH announces non-executive board appointment
The Board of CRH plc announced the co-option to the board, with effect from 3 March 2016, of William J Teuber, Jr as a non-executive director. Mr Teuber (64), a US citizen, is the Vice Chairman at EMC Corporation, a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. In previous roles he was responsible for EMC’s global sales a...
CRH full-year sales 25% ahead
CRH's turnover rose by 25 per cent in 2015 to EUR23,635m while the EBITDA advanced by 35.2 per cent to EUR22198m. The trading profit increased by 39.3 per cent to EUR1277m. The net interest charge rose by 19.9 per cent to EUR295m and there was a EUR101m gain on disposals, compared with EUR77m in 2014, which led to a pre-tax profit 35.7 per cent higher at EUR10331m. The net attributable profit ...
Jamaica: CCCL posts higher full-year earnings
Caribbean Cement Co Ltd (CCCL) posted JMD1.54bn (US$12.7m) in earnings for year ending December 2015, compared to the JMD139m a year earlier. The increase by the Jamaica-based producer, part of the TCL Group, comes despite big severance payouts. The separation of some former managers and voluntary redundancies late last year cost CCCL JMD436m. Among these, Anthony Haynes, who resigned from o...
Côte d'Ivoire: CIMAF inaugurates expansion project
Ciments de l’Afrique (CIMAF) on Tuesday inaugurated the completed expansion of its cement unit at Abidjan in Côte d’Ivoire in the presence of the country’s Prime Minister, Daniel Kablan Duncan. The project included the construction of a clinker silo, new raw material buildings, a grinding unit and cement storage and will take the plant’s total capacity from 0.5Mta to 1Mta. The project repre...
Indonesia: Semen Baturaja reports double-digit sales growth
Semen Baturaja achieved a 20.66 per cent rise in cement sales last year to IDR1.46trn (US$109.32m), the Indonesian stated-owned cement company has said. The sales growth has enabled the company to see its net profit increase by 5.43 per cent to IDR354.67bn throughout 2015. The government's focus on infrastructure projects is seen as benefitting cement companies that support construction a...
Dangote Cement full-year boosted by new African plants
Dangote Cement posted a 25.6 per cent rise in 2015 revenues to NGN491.7bn (US$2.47bn) as new plants performed strongly across Africa, the company reported yesterday. New production facilities opened by the group in Senegal, Cameroon, Ethiopia and Zambia made their first contributions to the business in 2015 and as a result, volumes rose by 35 per cent to 18.9Mt. “New factories performed very...
Holcim Philippines net profit surges 58% YoY
Holcim Philippines Inc said Wednesday net profit in 2015 surged 58 per cent YoY to PHP8.1bn (US$171m) on strong sales and a large one-off gain on investment. The company said it booked a PHP2.6bn advance from the revaluation of an investment in an affiliate while revenue rose 15 per cent to PHP37.5bn due to increased government spending in infrastructure projects and higher construction acti...
ASI hopes infrastructure development and housing will boost Feb sales
Following the positive start to 2016, the Indonesia Cement Association (ASI) hopes to see an increase in February cement sales on the back of the government’s 1m-unit housing programme and infrastructure development in villages (for which the government allocated IDR47trn in the 2016 State Budget). Earlier this week, Indonesian Finance Minister, Bambang Brodjonegoro, said the government's spe...
Quinn Cement signs agreement for new cement silos
Quinn Cement (NI) Ltd and Warrenpoint Harbour Authority (WHA) have signed contracts, which will see the construction five new cement silos at Warrenpoint Harbour, with a total storage capacity of 7500t dedicated to the export of bulk cement from the Quinn Cement operations in Ireland. The 10-year renewable agreement between Quinn Cement and WHA involves a GBP2.5m investment by Quinn. Work on...
CMS cement division sees decline in pretax profit
Cahya Mata Sarawak Bhd (CMS) of Malaysia said group revenue rose seven per cent to MYR1.79bn (US$430m) in 2015 from MYR1.67bn a year earlier, mainly driven by the Construction Materials & Trading Division and Construction & Road Maintenance Division. Group pretax profit increased by 12 per cent to MYR381.65m in 2015 from MYR341.45m in 2014, primarily due to higher revenue recorded by the tw...
Lafarge Malaysia sees stable 2015 pretax profit
Lafarge Malaysia Bhd reported a pretax profit of MYR345.157m (US$82.86m) for the financial year ended 31 December 2015 versus MYR345.183m a year earlier. Revenue rose to MYR2.75bn, up from MYR2.743bn previously, the company said in a filing to Bursa Malaysia. Meanwhile, 4Q15 pretax profit decreased by 7.8 per cent mainly due to the one-off acquisition expenses incurred as well as higher f...
Spain: Cementos Molins 2015 profit up 65% YoY
Cementos Molins posted a consolidated net profit of EUR50.8m in 2015, representing a 65 per cent rise YoY. The Spanish cement producer’s overseas companies saw profits rise by 9.3 per cent to EUR64m while the domestic arm continued to note net losses despite a 52.6 per cent YoY improvement. Cementos Molins is currently investing in production units in Mexico, Bolivia and Colombia.It is build...
Sabanci net profit up 7.6% in 2015
Turkish conglomerate Sabanci Holding posted a net profit of TRL2.236bn (US$750m) in 2015, up 7.6 per cent from a year earlier, it said in a filing to the Istanbul stock exchange on Monday. The holding's sales rose 10 per cent to TRL30bn in the same period. The company further said it is looking to hold an initial public offering of its energy company and a secondary float of shares in its re...
S&P: West China Cement stays on CreditWatch Positive
Standard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management tea...