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Brazil: Votorantim Cimentos has launched a new portfolio of bagged cement for the Brazilian market. The launch follows research with construction professionals and stakeholders. The company then set up a multidisciplinary group to develop its new portfolio of bagged cement from a consumer's viewpoint.
Specific products have been developed for different types of construction work. ‘Obras Estruturais’ is intended for foundations, columns, beams and structures. ‘Todas as Obras’ is intended for plasters, subfloors and slabs. ‘Obras Básicas’ is intended for repairs and renovations without structural function. ‘Obras Especiais’ is intended for industrial use as pavers, precast and artifacts. ‘Obras Especiais em Meios Agressivos’ is intended for coastal areas, pipes and sewage treatment facilities.
“For the non-specialist consumer, buying cement will be easier, more convenient and safer. For retailers and professional workers, this will bring more confidence in their recommendations, ensuring high quality and productivity at the construction site,” said Walter Dissinger, Global CEO of Votorantim Cimentos.
Bestway Cement profit rises by 47% to US$54.4m in first half 19 February 2016
Pakistan: Bestway Cement has reported that its profit after tax has risen by 47% year-on-year to US$54.4m from July to December 2015 from US$372m in the same period in 2014. Its revenue rose by 45.5% to US$201m from US$138m. It attributed the growth to the acquisition of Pakcem, an increase in domestic demand and stable prices during the period.
Domestic sales volumes for the company increased by 47% to 3.1Mt from 2.1Mt. It reported that overall dispatches by the Pakistan cement industry increased by 6.3% to 18.2Mt from 17.1Mt. Overall exports dropped by 26% to 3Mt from 4.1Mt. Bestway reported that it maintained its market share in the north of Pakistan and retained its position as the largest exporter of cement to Afghanistan and India, despite fierce competition.
Work on Bestway Cement’s 12MW waste heat recovery plant at Pakcem Kallar Kahar progressed during the period. The upgrade project is expected to cost US$15m.
Italcementi loss grows to Euro69.3m in 2015 19 February 2016
Italy: Italcementi’s loss has grown by 41.7% year-on-year to Euro69.3m in 2015 from Euro48.9m in 2014. The multinational cement producer blamed this on falling revenue per unit amidst general poor markets, particularly in Egypt. Despite this its revenue grew by 3.5% to Euro4.3bn in 2015 from Euro4.16bn in 2014, boosted by a stronger fourth quarter and currency effects.
Overall cement clinker sales volumes remained unchanged in 2015 at 43.4Mt. Growth in North Africa, Middle East (Egypt and Kuwait) and the more contained growth in North America was counterbalanced by downturns in Europe, Asia and Trading.
Italcementi expects growth in North America, moderate sales growth Egypt and stability in emerging markets in 2016. Demand for building materials is expected to be stable overall in Italy, France and Belgium, with a general recovery elsewhere in Eastern European and Mediterranean markets. It plans to raise prices in all areas except for India and Thailand.
The group also announced that it has completed the procedures for the sale of non-core assets to Italmobiliare, under the agreements signed by Italmobiliare with HeidelbergCement. Italcementi will sell to its parent Italmobiliare the stakes it holds in renewable energy company Italgen and e-procurement specialist BravoSolution, in addition to a building in the centre of Rome. The asset sales will be wrapped up on finalisation of the agreement between Italmobiliare and HeidelbergCement.
Wang Shizhong resigns from BBMG Corporation
Written by Global Cement staff
19 February 2016
China: Wang Shizhong has resigned as an executive director and a member of the Strategic Committee of BBMG Corporation with immediate effect. He resigned due to the re-designation of his work. The board of BBMG expressed its appreciation for Wang’s contribution to the company development in a statement.
KHD ordered to pay damages to South American customer 18 February 2016
Germany: KHD International and its US-based subsidiary Humboldt Wedag (HW Inc) have been ordered to pay damages by a Portuguese arbitration court to a customer in South America. HW Inc’s arbitration claim for disbursement of outstanding payments, reimbursement for a called bank guarantee, as well as additional compensation (for damages) was denied. KHD expects the damages to lead to expenses of Euro15m in its 2015 financial results. The customer has not been named.
“This ruling does not reflect our own or our legal counsel’s expectations in any way. We believe that it is grossly incorrect and will exhaust all promising possibilities for success in proceeding against this judgement,” said KHD International CEO Johan Cnossen. KHD said in a statement that the arbitration award would not have an impact on its forecast results for 2015 as ‘adequate’ provisions had already been set up.