Cement News tagged: Corporate
Kuwait Cement Company net profit edges higher
Kuwait Cement Company recorded a net profit of KWD14.78m (US$51.9m) in 2012, up 3.6 per cent from KWD14.27m a year earlier, the company said in a bourse filing. The cement producer reported earnings per share (EPS) of 23.94 fils for 2012, compared to 23.08 fils a year ago. The total assets rose to KWD286.2m at end-December 2012 from KWD258.9m a year ago. Kuwait Cement is the largest cement p...
Eurocement Ukraine swings to profit
Eurocement Ukraine has reported a rise in net profit for 2012 of UAH37.433m (EUR4.6m) compared to a loss of UAH46.048m in 2011. The company is a subsidiary of a subsidiary of the Russia-based Eurocement group and has two cement works in Ukraine. Khrakov region in northeastern Ukraine has five kilns, the largest of which was re-commissioned in 2007 after a decade-and-a-half of idleness. The ...
Deutsche Bank: Conch to gain greater pricing power, China
In light of slowing demand growth and severe overcapacity in East China, the operating landscape has changed in favour of Conch partly through superior production costs and greater pricing power, Deutsche Bank says in a recent note. The bank believes that smaller players are losing market share as they can no longer compete with Conch's superior production costs (10-20 per cent below its pe...
Huaxin Cement sees net profit down 48.32% in 2012
Huaxin Cement Co Ltd, part of the Holcim Group, said net profit last year fell 48.32 per cent to CNY556m (US$91m). It attributed the reduction to severe price competition and its profit contribution to Holcim declined. Huaxin Cement, which is based in the Hubei province, saw operating revenue for 2012 slid 0.93 per cent YoY to CNY12.52bn (US$2bn).
Holcim Lanka appoints new CEO, Sri Lanka
Philippe Richart, formally responsible for the readymix concrete business in Holcim Vietnam, has been appointed CEO of Holcim Lanka, effective 1 March 2013. The change of CEO, which was announced in February 2013, was part of a generational change in the company’s leadership. Philippe joined Holcim Group Support in 2004 as a Commercial Project Manager for the Aggregates and Constructions M...
Anhui Conch net profit hit by weaker prices, China
Anhui Conch reported a 45.6 per cent in net profit for 2012 due to weaker average selling prices. The company reported net profit of CNY6.31bn (US$1bn) last year as average prices slipped to CNY245/t from CNY308/t a year ago. Operating revenue dropped 6.41 per cent per cent YoY to CNY45.06bn in 2012. The company sold 187Mt of clinker and cement last year, reflecting a growth of 18.33 per c...
UltraTech commissions clinker and grinding projects, India
India’s leading cement producer, UltraTech Cement, has commissioned two new cement facilities as part of its ongoing expansion drive. The company has informed the Bombay Stock Exchange that it has commissioned its 3.3Mta brownfield clinker plant at Rawan, Raipur, Chhatisgarh state. Meanwhile, it has also commissioned a 1.6Mta grinding unit in Hotgi, Solapur, Maharashtra. The company is a...
Cimpor: restructured for growth
Following the restructuring of Cimpor and asset swaps with InterCement Austria Holding, the Portuguese cement major is looking forward to an increased footprint in Latin America and Africa, two geographic areas with high growth potential. Essentially, Cimpor acquired the assets held by Camargo Correa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay in exchange for Cimp...
Credit Suisse lowers China Shanshui Cement target price
Credit Suisse lowered its target price for China Shanshui Cement to HK$4.2 from HK$5.5, and maintained its "neutral" call. The house expects unit gross profit to soften in 2013 to CNY65/t due to moderate supply pressure in Shandong, combined with depressed margins in Shanxi and Xinjiang (13 per cent of 2013 sales). Credit Suisse said its recent visit to Shandong also suggests 2Q2013 construc...
ARM Cement boosted by higher sales
ARM Cement, Kenya's second-largest producer, has reported an eight per cent advance in 2012 net profit and says it expects improved profitability on the back of new capacity. Formerly known as Athi River Mining, the company said in a statement that net income advanced to KES1.25bn (US$14.6m) in the first 12 months of December. Cement sales rose 64 per cent after its market share increased in...
Moody’s: West China Cement investment slowdown ‘positive sign’
West China Cement’s (WCC) slowdown in investments is also a positive, according to Moody's analyst, Jiming Zou, lead analyst for WCC. WCC's shift from an aggressive expansion strategy to more prudent financial management follows the need to stabilise its capital structure, Moody’s highlighted in a statement. "This approach is necessary as it will need to refinance offshore debt in January 20...
MoU signed for new mini cement plant in Nigeria
Sokoto State Government has signed a Memorandum of Understanding (MoU) with Brewtech Nigeria Ltd, to establish a mini cement company in the state. The project is expected to have a capacity of 300tpd, rising to 900tpd at its peak. ThisDay press reported that the project will be a collaboration between the state government, Brewtech and some private investors. It will be partly financed by the...
Lafarge Pakistan Cement swings to profit
Lafarge Pakistan Cement (LCP) has earned a net profit after tax of PKR1.488bn (US$15.17m) for the year ending 31 December 2012, compared to a loss of PKR118.42m in the previous year. Net sales rose PKR9.624bn last year from PKR7.804bn, reflecting a growth of 23.32 per cent. The cost of sales stood at PKR6.44bn against PKR6.148bn in 2011. The company incurred distribution costs of PKR225m and...
West China Cement sees 2012 net profit jump
West China Cement Ltd has reported a rise in net profit and operating revenue for 2012 and says it expects an improved operating environment going forward due in part to increased infrastructure demand. Net profit for the group jumped 44.9 per cent YoY in 2012 to CNY360m in 2012 and operating revenue grow 10.5 per cent YoY to CNY3.52bn. Cement sales volumes grew by 28 per cent, including sal...
Loesche awarded new contract for ACC project
Loesche, in a consortium with KHD, has been awarded a contract for its vertical roller mill technology to be employed at ACC’s Jamul plant in India. Loecshe will supply its mills type LM 56.3+3 and LM 43.3 D for the new project being undertaken by Holcim group company ACC. Part of the clinker produced in Jamul will be ground at the cement plant while another part will be processed at grin...
Cimpor's restructuring gives temporary lower numbers
Cimpor's turnover from continuing activities declined by an underlying 3.1 per cent to EUR1510m and compares with the actual EUR2275.3m shown in 2011 on the old structure. The comparable EBITDA eased by 3.3 per cent to EUR464.7m and compares with an actual EUR616.0m. The trading profit came off by 4.8 per cent from EUR321.2m to EUR305.8m, whereas a year ago EUR372.8m was shown. Net fin...