Cement News tagged: Corporate
Lafarge WAPCO pretax profit rises, turnover falls, Nigeria
Lafarge WAPCO said on Tuesday that its 1H12 pre-tax profit rose 19 per cent YoY to NGN12.18bn (US$76m). However, turnover fell to NGN46.34bn during the period from NGN62.50bn a year ago, the company said in a filing with the Nigerian Stock Exchange.
Lucky Cement-led consortium acquires ICI Pakistan
Lucky Cement, in consortium with other Yunus Brothers Group (YBG) entities, has acquired a 75.81 per cent shareholding in chemical producer ICI Pakistan from Omicron BV, a 100 per cent owned subsidiary of AkzoNobel NV of The Netherlands. The Share Purchase Agreement was signed in Amsterdam on 27 June 2012 after the close of stock markets. The bid value of this acquisition is US$152.2m. L...
Qatar National Cement first-half net profit rises YoY
Qatar National Cement achieved a net profit of QAR225.3m (US$61.9m) in the first six months of 2012 compared to QAR214.3m in 1H11. Earnings per share amounted to QAR4.59 as of 30 June 2012 against QAR4.36 in the corresponding period of last year.
Raysut’s CEO to step down, Oman
Oman’s leading cement producer Raysut Cement has announced the resignation of its CEO Mohamed Ahmed Al Dheeb. The Board of Directors have requested Mr Al Dheeb remain in his position until 31 March 2013 so that a replacement can be found, the company said in a statement to the Muscat bourse.
Ciments Francaise first-half revenue declines
Ciments Francais, part of the Italcementi Group, reported that consolidated revenues for the first half of 2012 amounted to EUR1.9m, down 4.8 per cent YoY reflecting a 6.5 per cent drop in activity and a positive exchange-rate effect (+1.9 per cent). The most significant increases related to Bulgaria, North America, India and Thailand and the strongest reductions related to France/Belgium, Spa...
Oman Cement first-half profit rises 23%
Oman Cement has reported a 23.01 per cent in net profit for the first half of 2012. Earnings rose to OMR9.02m (US$23.4m) compared to OMR7.3m in 1H11. Cement sales advanced 20.22 per cent to 1.36Mt in the six months to June compared to 0.94Mt in the corresponding period of last year. Turnover was up 13.11 per cent to OMR28.065m. Clinker production increased to 1.05Mt from 0.68Mt during th...
Fives FCB acquires Technip’s cement division, France
Fives FCB, a subsidiary of the Fives Group, has acquired the business portfolio of CLE Groupe Technip France, the specialist cement plant division of the Technip Group. For more than 40 years, the CLE, Groupe Technip France division has completed installation and revamping projects for many cement manufacturer customers. More recently, it has been involved in major revamping projects in Fran...
Dangote Cement applies for two-year free float extension, Nigeria
Dangote Cement Plc is seeking an extension of the free-float waiver it secured from the when it merged with Benue Cement Company Plc two years ago, reports from the Nigerian Stock Exchange (NSE) indicated. The 24-month waiver extension is to enable the company remain listed on the stock exchange despite maintaining a free-float that is below 25 per cent, a violation of the NSE requirement ...
JPMorgan sells 6.26m H-shares in Conch Cement
JPMorgan Chase & Co sold 6.26 million H-shares in Anhui Conch Cement Co Ltd, a major cement producer in China, at HK$ 20.46 apiece, for a total of HK$ 128 million on July 19th, media reported, citing information from the Hong Kong bourse. After the share sale JPMorgan's holdings of Conch Cement's H-shares dipped to 12.91 from 13.4 per cent. (Source: China Business Newswire)
Cementos Argos positive sales trends continue
Cementos Argos has reported positive operating figures for its cement division, continuing the trends seen in the first quarter of the year. Argos. In the second quarter of 2012 operating figures showed positive growth, giving continuity to the trends first seen in the first quarter. Cement sales for the April-June period stood at 4.9Mt and ready-mix concrete sales were 4.2Mm3. In the C...
Six state-owned plants to be sold, India
The government of India has revived plans to sell six out of 10 cement plants operated by state-owned Cement Corp of India. Two of the cement plants are located in the state of Chhattisgarh and one each in Madhya Pradesh, Karnataka, Harayana and Delhi. The Board for Industrial and Financial Reconstruction (BIFR), which looks into ailing public sector units, has reconstituted an asset sale co...
JSW Cement sets up new slag cement plant, India
JSW Cement has established a 5Mta slag cement plant at Nandyal in Kurnool district, the slag for which is supplied by the company's steel plant in Karnataka. RC Sodani, CEO and director of JSW Cement told Business Line India that at the product is being sold at a slightly lower price than OPC, stating: "Our cement unit is in production or the past six months and the market response has been ...
JP Morgan remains underweight on Ambuja Cements
JP Morgan remain Underweight on India's Ambuja Cements. Key risks to the price target as per JP Morgan is a sharp recovery in cement demand to help drive higher than expected volume growth (and therefore utilisation levels) and reduction in coal costs leading to decline in operating cost per tonne. "Demand has not been particularly strong in the last two months, but cement prices have mov...
Cemex bolstered by improving US sales
Cemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe. The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cen...
Lafarge takes hit on Greek impairment charge, maintains outlook
Lafarge has reported improved second-quarter sales and operating profit but net profit plummeted as it took an impairment charge of EUR200m (US$244m) on its Greek assets. Second-quarter sales rose five per cent to EUR4261m and EBITDA increased eight per cent to EUR1007m. Net income in 2Q was only EUR57m due mainly to the Greek impairment charge. For the first-half sales increased by five...
Gresik first-half net profit rises, Indonesia
PT Semen Gresik said Friday its first-half net profit rose 12% to IDR2.10trn (US$221m) from IDR1.87 trillion a year earlier. Revenue for the January-June period rose to IDR8.66trn from IDR7.61trn a year earlier. Its assets totaled IDR22.28trn as of June 30, compared with IDR19.66trn a year earlier.