Displaying items by tag: GCW277
Buzzi Unicem sees cement sales rise slightly so far in 2016
11 November 2016Italy: Buzzi Unicem’s cement sales have risen by 1.2% year-on-year to 19.5Mt for the first nine months of 2016 from 19.3Mt in the same period of 2015. Its total net sales rose slightly to Euro2bn and its earnings before interest, taxation depreciation and amortisation (EBITDA) rose by 18.3% to Euro416m from Euro352m. It reported improved demand in Central Europe, Poland and Ukraine but that the US was affected by poor weather. Elsewhere, it said that the recession in Russia has lessened although its sales have continued to decline.
East African Portland Cement profit falls by 42% to US$41m
11 November 2016Kenya: East African Portland Cement’s (EAPCC) profit has fallen by 42% to US$41m in the first half of 2016 from US$70.7m in the same period of 2015. It has blamed the drop on a fall in the revaluation gain of its assets, according to the Daily Nation newspaper. Its revenue rose by 5.4% to US$87m but this was adversely affected by rising cost of sales. The cement producer asked for regulatory approval to publish its financial results after a 31 October 2016 deadline.
Cemex’s Victorville cement plant picks up Wildlife Habitat Council Conservation Certification
10 November 2016US: Cemex USA’s Victorville cement plant in California has been awarded Wildlife Habitat Council (WHC) Conservation Certification for work towards sustainability, environmental-protection and land-stewardship. The WHC presented the Victorville plant with the certification on 3 November 2016 during a ceremony at the 2016 WHC Conservation Conference in Baltimore. The designation means that all Cemex USA’s cement plants are now WHC-certified. WHC focuses on healthy ecosystems and connected communities. Cemex now has 18 WHC-certified sites in North America, of which fifteen are in the US
Cemex’s WHC Conservation Certification programs are mainly focused on habitat restoration and sustainability. In 2013, two wind turbines were commissioned at the Victorville plant. The plant also earned its fifth Energy Star certification earlier in 2016 for reducing its energy use and environmental impact and the Mojave Desert Air Quality Management District awarded Cemex USA’s Victorville plant operation the 2015/2016 Exemplar Award.
"This plant has persevered through good times and bad: two world wars, three different owners and countless upgrades to its facilities and equipment. Through all of the changes, two things have remained constant: a commitment to safety and a commitment to producing a high-quality product," said Hugo Bolio, Cemex USA’s Executive Vice President of Cement Operations and Technology. The Victorville Cement Plant was established in 1916 and was upgraded in 1997 and 2001. It has a production capacity of 3Mt/yr.
Sephaku Holdings comments on South African market
10 November 2016South Africa: Sephaku Holdings has said that bagged cement market continues to perform better than that of bulk cement as large construction projects dwindle. The market continues to be characterised by price competition but appears to be stabilising following the implementation of price increases by all producers in the third quarter. Sephaku Holdings, which owns a minority stake in Sephaku Cement, made the comments in its half-year financial results that covered events until 30 September 2016. Investments of up to US$1.2m have been earmarked to improve raw material handling efficiency.
The company also said that imports of cement have ‘significantly’ declined on a year-on-year basis, particularly from Pakistan. By the end of June 2016 approximately 0.16Mt had been imported compared to 0.5Mt in the previous period, with 75% of the volume from China.
Sanghi Industries to raise US$180m for expansion
10 November 2016India: Sanghi Industries plans to raise US$180m towards increasing its production capacity. It has recently increased the production capacity at its Kutch cement plant by 1.2Mt/yr to 4.1Mt/yr, according to the Times of India. Following this the cement producer intends to increase its capacity to 8.1Mt/yr in the next three to four years. It plans to raise funds through a mix of internal accruals, debt and equity. The company is also building a 15MW waste heat recovery system that is likely to be commissioned by the end of 2018.
Palestine: Sanad South Cement Grinding and Filling has started a pre-qualification tender process to find engineering, procurement and construction (EPC) contractors to build a 1.3Mt/yr cement grinding plant in Bethlehem. The plant will use a vertical roller mill to grind clinker, gypsum, pozzolana, limestone and fly ash to produce three types of cement, according to Zawya. 30% of the cement will be sold in bags, while the remainder will be sold in bulk. Contractors have until mid-November 2016 to make their submission.
In October 2016 the Palestine Investment Fund announced that a new cement plant would be built for US$310m by 2018. Building a cement grinding plant is part of the process.
Cementir sales rise but profit falls so far in 2016
10 November 2016Italy: Cementir Holding’s revenue has risen by 1.8% year-on-year to Euro733m in the first nine months of 2016 from Euro720m. Its sales volumes of grey and white cement grew by 4.6% to 7.28Mt from 6.96Mt. Yet, its profit fell by 24.9% to Euro47.7m from Euro63.6m. It blamed the fall in profit indicators on foreign currency effects and poor markets in Italy and Turkey.
Germany: The rating agency S&P Global Ratings has assigned a BBB-/A-3 company rating to HeidelbergCement. The classification in the Investment Grade is associated in particular with the strong business profile after the Italcementi acquisition and an improved creditworthyness. It attributed the decision to the strong market position and wide geographic diversification of HeidelbergCement following the acquisition of Italcementi.
“We are very happy about the positive rating decision by S&P,” said Bernd Scheifele, CEO of HeidelbergCement. “It is proof of the strong operating business of HeidelbergCement and the continuous improvement of our capital structure and cashflow in the last years. With the classification in the Investment Grade, we have achieved one of our core strategic targets. As a consequence, we are very well positioned to significantly enlarge our investor base and improve our financing conditions.”
S&P also upgraded the issuance ratings of Italcementi from BB/B to BBB-/A-3. The outlook on all ratings is stable.