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Cementir presents mixed results in first half of 2016 01 August 2016
Italy: Cementir Holding’s sales revenue has risen by 1.1% year-on-year to Euro481m in the first half of 2016 from Euro476 in the same period in 2015. However, its earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 1.5% to Euro72m from Euro73.1 and its net profit fell by 53.7% to Euro11m from Euro23.9m. The group blamed the drop in profit indicators on exchange rate movements.
Sales volumes of cement for the building materials producer rose by 4.8% to 4.75Mt from 4.53Mt. Revenue grew in Scandinavian countries and in Malaysia, it remained stable in Turkey and it fell in Italy, Egypt and China.
Jordan: Vortex Global, a US solids and bulk handling components company, has appointed Smart Systems for Factories Operation & Maintenance as its agent in Algeria, Bahrain, Egypt, Jordan, Lebanon, Libya, Morocco, Saudi Arabia, Sudan, Tunisia, Qatar and Yemen. Smart is a Middle Eastern supplier of dedusting systems, including industrial ventilations systems, shut off valves, loading spouts and filters.
"Smart has the ability to provide our customers in the Middle East and North Africa (MENA) region with any type of equipment for mineral industries including the cement, potash and phosphate industries," said Laurence Millington, Vortex’s Director of International Business. "We are delighted to have Smart represent us now and going into the future.”
Smart Systems was established in 2007 as a specialised technical and turnkey solution provider for the cement and mineral industries. The Smart team consists of project managers, mining experts, operation managers and maintenance managers in mechanical, electrical, instrumentation, control, erection and utilities aspects.
Germany/Norway: Germany’s Berthold Technologies has acquired the Norwegian company Sensor Technology (S-Tec). S-Tec is a specialist for nucleonic gauges with experience in the oil and gas industries. Its products and the close cooperation with major customers and research institutes will continue. Berthold Technologies is a supplier of radiometric instruments for process control.
Fiji: Pacific Cement’s sakes volumes of cement have increased by 45% to 150,561t in the last year. 104,000t of cement was sold locally, according to the Fiji Times newspaper. General manager Sowani Tuidrola attributed the boost in sales to growth in the local market. At present Pacific Cement’s plant produces 500t/day of cement. The cement producer exports cement to Vanuatu, Tonga, Samoa, Tarawa, Solomon Islands, Cook Islands, Wallis and Futuna, Papua New Guinea and Timor Leste.
Greece: Titan’s turnover has risen by 7.6% year-on-year to Euro724m in the first half of 2016 from Euro673m in the same period in 2015. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 13.5% to Euro120m from Euro105m. However, its net profit fell by 62% to Euro9.2m from Euro24.2m for the half-year period. The construction materials company benefited from growth in the US and Egypt but currency exchange rates, particularly in Egypt, hit its profits.
In the US Titan reported that sales revenue increased by 18.8% to Euro373m despite a long second quarter maintenance period at its Pennsuco cement plant in Florida. Turnover in Greece and Western Europe fell by 9.1% to Euro133.4m. In South-eastern Europe it rose by 6.7% to Euro97m. In Egypt turnover rose by 11.7% in local currency terms but fell by 0.6% in Euros to Euro121m. the group noted that in this country group plant production levels have reverted to levels similar of the pre-fuel crisis years. Coal mills have been implemented on both production lines at the Beni Suef plant since the end of March 2016 to reduce costs. Similar work at the Alexandria plant is on-going and will be completed by the end of 2016.
The group expects growth in the US to drive growth and profit for Titan in 2016 as a whole with support from an improved market in Egypt.