Cement News tagged: Corporate
CNBM to acquire stake in Shanshui Cement
China National Building Material Co (CNBM) is set to acquire a 20 per cent stake in Shanshui Cement Group for HK$1.56bn (US$201m). Shanshui Cement will sell 563.2M new shares at HK$2.77 each, according to a statement to the Hong Kong stock exchange yesterday. Shanshui said it plans to use the proceeds to replenish working capital, reduce its debt level and improve efficiency. In a separate...
Kohat Cement 1QFY15 net profit up 11% YoY
Pakistan-based producer Kohat Cement posted a net profit of PKR683m (US$6.6m) in the three months to the end of September 2014, up 11 per cent YoY. The company attributed the higher earnings to better income on cash placements and lower financial charges, Sherman Securities reported on Monday. During the first quarter of FY15, sales revenue increased by 11 per cent to PKR2.9bn amid higher...
Kenya: EAPCC swings to full-year loss
East African Portland Cement posted a net loss of KES386m (US$4.32m) for the year ended June 30, due to price competition, high staff costs and the weakening shilling. The Kenyan cement producer posted a net profit of KES1.7bn a year earlier. The company said its administrative costs had gone up by KES700m following a restructuring of its management, staff compensation and an increase in st...
SCG earmarks new five-year investment budget
Siam Cement Group (SCG) has earmarked THB200-250bn for a new five-year investment budget starting next year, the Bangkok Post reports. Chief executive and president Kan Trakulhoon added that the company is eyeing investment in a tech company that could complement SCG's core businesses. "The company we're talking with at the moment is a technology company in Europe," Mr Kan said. The focus wi...
QNCC nine-month net profit ahead
Qatar National Cement Company (QNCC) net profit rose to QAR332m (US$91.2m) in the first nine months of 2014, up 3.1 per cent from the QAR322m posted a year earlier. Earnings per share (EPS) rose to QAR 6.76 from QAR 6.56. Total assets at end-2014 increased to QAR2.85bn from QAR2.78bn at the beginning of the year.
3Q14 results: Cemex’ gearing stands at 157%
During the first nine months of the year, Cemex’ turnover increased by 4.6 per cent to US$11,870.9m while the EBITDA was 1.8 per cent higher at US$2037.1m. The trading profit advanced by 24.2 per cent to US$1150.2m and the net interest charge rose by 11.2 per cent to US$1266.6m. The pretax result went from a US$174.3m loss to a profit of US$132.2m. A 7.1 per cent lower tax charge led to a net ...
Cementos Portland reports EUR45.3m net loss in 9M14
Spain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13. Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were closed, but cement sales were up by five per cent. EBITDA rose 95 per cent to EUR82.6m, fuelled by efficiency measures implemented in Spain and the US, the deregulation of the ...
Saudi Cement 3Q14 profits better than expected
Saudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY. The Saudi cement sector is gradually recovering from the effects of a labour crisis, with total local sales growing 5.4 per cent YoY in September. Saudi Cement sold 1.64Mt of ce...
PPC Zimbabwe to invest US$86m in extra capacity
PPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are earmarked for manufacturing capacity and equipment. Road-building projects and exports to Zambia, Malawi and Mozambique are generating “significant” demand, according to the co...
Semen Indonesia starts Tuban WHR plant construction
Semen Indonesia has commenced the construction of a 30.6MW power plant at its Tuban cement works to reduce the company’s electricity costs. Using heat from the cement production process, the waste heat recovery plant represents an investment of IDR638bn (US53m). The project is expected to be completed in 26 months’ time with the plant due to come online in 2H16. In 2013 Semen Indonesia s...
Egypt: Arabian Cement’s profit decline 32% in 9M14
Egypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a year earlier. Cement sales increased 17 per cent to EGP1.78bn, up from EGP1.53bn.
Cemex says no bid on Lafarge-Holcim assets
Mexico-based Cemex has announced it will not make an offer for Holcim and Lafarge assets that are available due to the proposed merger of the two cement giants, said Cemex CEO, Fernando Gonzalez, in a conference call with analysts.
Claassen to replace Tomes as PPC MD
Johann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional engineer who joined PPC in 1989 and has served as executive of cement operations and of lime, and held various other senior and general management roles across the cement and lime d...
Holcim (Lanka) wins Silver SLIM brand award
Surpassing several high-profile brands from several different sectors and further cementing its place as one of the leading brands in Sri Lanka, Holcim (Lanka) won the prestigious Silver Award as the Turnaround Brand of Year at the country’s SLIM Brand Excellence Awards 2014 at BMICH. Philippe Richart, CEO, Holcim (Lanka) said, “Winning this award took a lot of hard work and dedication to tur...
Cemex: Colombia and Panama boost 3Q14 results
Cemex Latam Holdings SA (CLH) reported consolidated net sales of US$1.324bn during 9M14, reflecting a three per cent YoY rise. Net sales experienced a three per rise drop in 3Q14 when compared to 3Q13 as revenues from housing solutions projects were lower. After adjusting for this effect, consolidated net sales rose by five per cent during 9M14 and by six per cent in 3Q14, on a YoY basis. Ca...
Jamaica: Caribbean Cement to start 240,000t Venezuelan shipment
Caribbean Cement Company Ltd (CCCL) has commenced supply of a new 240,000t clinker order to Venezuela. The US$20.5m contract will run over an 18-month period and help boost export revenue from the Rockfort plant. The new order from Caracas extends a previous agreement that saw CCCL ship 100,000t of clinker between December 2013 and April 2014 in a US$8.5m deal. In 9M14, CCCL recorded clinker...