Cement News tagged: Corporate
Martin Marietta first-quarter sales up 66%
Martin Marietta reported consolidated first quarter net sales of US$631.9m compared with US$379.7m a year earlier, an increase of 66 per cent. Aggregates product line volume increase of 17.1 per cent, aggregates product line price increase of 11.4 per cent. Heritage aggregates product line volume increase of seven per cent, excluding shipments from 2014 divestitures from prior-year quarter. R...
Argos acquires Puerto Rico operations
Argos acquired a stake of 60 per cent in Wetvan Overseas, a company that controls a terminal for receiving, storing, selling and distributing cement in Puerto Rico, for an amount of more than US$18m. The remaining 40 per cent belongs to Grupo Vicini, a renowned Dominican business group that has investments across the Caribbean and Central America. Thanks to this transaction, Argos will see i...
Egypt: Suez Cement sees 3% fall in 1Q15 revenues
Suez Cement Group of Companies (SCGC), part of the Italcementi Group, saw revenues decline three per cent in the first three months of the year versus the same period of 2014. EBITDA for the quarter also fell by 49 per cent, mainly due to rising fuel prices resulting in a sharp 66 per cent drop in net profit. Unforeseen pressures on the construction sector as a whole were said to have depre...
Holcim Philippines has PHP2bn capex plan
Holcim Philippines Inc will set aside PHP2bn (US$44.8m) for its capital expenditures (capex) this year to boost capacity in a bid to meet rising demand amid sustained construction activity nationwide. The company noted that government spending for infrastructure, the expansion of the private commercial, residential and industrial developments and the increased pace of public-private partners...
Oman Cement’s new mill on target for 4Q15
The installation of a new cement mill at the Rusayl complex of Oman Cement Company will be completed by the fourth quarter of this year, chairman of the board, Dr Abdullah Abbas Ahmed, told the Oman Daily Observer. The plant will increase production by an additional 150tph following the completion of the new expansion, he stated. The infrastructure supporting the cement silos and bulk dispatc...
Holcim sees continued growth in the USA
Holcim's first quarter turnover declined by 2.8 per cent to CHF3972m (€3699m), but on a like-for-like basis, there was a 1.6 per cent reduction while measured in euros the turnover was ahead by 10.7 per cent. Operating EBITDA declined by 3.9 per cent to CHF593m (€552m). The trading profit was down by 11.5 per cent to CHF261m (€243m), while the net attributable profit jumped by 289.3 per cent ...
Eurocement backs Holcim-Lafarge merger
Eurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with Lafarge SA . "Having analysed all advantages and disadvantages of a possible creation of the biggest global construction materials player we think that the prospective of the development of the combined company is very positive, so we will support the merger," Euroceme...
Semen 1Q profit hit by lower prices
Indonesia's biggest cement producer, PT Semen Indonesia Tbk, posted a 8.5 per cent drop in first-quarter net profit from a year earlier on the back of lower selling prices and weaker domestic demand. The state-owned company reported net profit of IDR1.19trn (US$91.82m) for the three months ended March, down from IDR1.30trn for the corresponding period a year earlier. “The company’s perf...
Shree net profit down on weaker sales, India
Shree Cements on Wednesday reported a 46.39 per cent dip in standalone net profit at to INR1.198bn (US$18.8m) for the third quarter that ended on 31 March 2015 due to a decline in sales. The company had registered a net profit of INR2.225bn for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange. Total turnover of the company dropped 5.31 per cent to INR15.7...
Fauji Cement first-quarter profit up 32%
Pakistan-based cement producer Fauji Cement Company Ltd (FCCL) has announced a net profit of PKR981.951m (US$9.65m) for the quarter ended 31 March 2015, a rise of 32 per cent from PKR744m a year earlier. Revenue for the quarter under review stood at PKR4.426bn compared to sales of PKR4.3bn in the same period of last year, a company spokesperson said. For the nine-month period ended 31 March...
Conch's 1Q15 earnings fall 31%
Anhui Conch reported 1Q15 net profit of CNY1.7bn (US$274m), down 31 per cent YoY. Sales declined 11 per cent YoY driven by almost a 20 per cent decline in average selling prices. Due to the weak seasonal recovery in cement price, Jefferies expect 2Q15 earnings could decline 30 per cent year-on-year as well. "Seasonal recovery in cement price has been happening slower than expected due to w...
Libya Holdings Group to buy out Asamer interest in LCC
Benghazi-based Libya Holdings Group is to acquire Austrian majority owner Asamer in the Libyan Cement Company (LCC), according to reports in the Libyan Herald. Asamer bought into LCC when it was privatised in 2008 paying LYD200m for a 50.6 per cent share. The remaining equity was held by the Economic and Social Development Fund. Ten percent of the ESDF’s shares were supposed to be distributed...
Asia Cement issues profit warning, China
Asia Cement (China) said it expects to record a substantially lower – over 95 per cent – net profit for the first quarter of 2015 compared with the same period of last year. The expected decline is being primarily attributed to the decrease in average selling price of the company's products compared versus that of last year. Its quarterly results announcement will be issued by the end o...
Peru: Unacem sees slight rise in 1Q15 sales
Unacem saw its domestic cement sales increase by 0.3 per cent in the first three months of 2015, compared to the same period in 2014. The company recorded cement sales of PEN449.4m (EUR132.69m US$144.20m) in 1Q15. Sales costs also dropped 2.6 per cent compared to the first quarter of 2014, when leftover stocks of imported clinker were used which were more expensive. Clinker production dslipp...
Shree completes acquisition of Jaiprakash grinding unit, India
Shree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaiprakash Associates Ltd, situated at Panipat, has been consummated on April 27, 2015 for an aggregate consideration of INR358.22 crore,” Shree Cement said in a filing to the Bombay Stock Exchange yesterday. Completion of...
China Resources Cement 1Q15 attributable profit drops 14% YoY
China Resources Cement said its profit attributable to owners for the three months ended 31 March 2015 dropped 14 per cent YoY to HK$660m (US$85m). Basic earnings per share were HK$0.101. Turnover was HK$6202m, a decline of 8.7 per cent from a year earlier. The consolidated gross margin for the reporting period was 25.9 per cent, representing a decrease of 5.9 percentage points from 31.8 per ...