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Vicat’s sales up by 1.9% in the first nine months of 2015 04 November 2015
France: Vicat's sales in the first nine months of 2015 grew by 1.9% year-on-year to Euro1.88bn. In the third quarter of 2015, its sales grew by 1.7% to Euro640m on a reported basis and declined by 3.7% at constant scope and exchange rates. Vicat reported robust business trends in the US, activity growth in Asia underpinned by Turkey and India, a reduced down-trend in France and lower activity in West Africa and the Middle East.
"Vicat's third-quarter performance still reflects a contrasting picture from one region to another, but there were signs of improvement in certain markets," said Vicat's Chairman and CEO. "Strong increases were recorded in the US and Turkey, while volumes in India returned to growth in a still favourable pricing environment, and, lastly, our production unit in Kazakhstan ran at full capacity in a market nevertheless affected by a strong currency devaluation. In France, the shortfall compared with 2014 declined significantly in the cement business over the past quarter and the market currently appears to be gradually stabilising at an historically low level for French cement consumption. Against this backdrop, Vicat remains focused on its objectives of maximising its cash flow and reducing its debt, while leveraging the efficiency of its manufacturing facilities, its geographical diversification and its strong positions in its local markets."
Jorge Mario Velasquez to become new Argos group President
Written by Global Cement staff
04 November 2015
Colombia: As of 1 March 2016, the current President of Cementos Argos, Jorge Mario Velasquez, will be the new President of the entire Argos group in Colombia.
Velasquez, born in Bogota in 1960, will replace the retiring Jose Alberto Velez. Velasquez joined Cementos Argos in 1984 and, on his way up within the company, has served as General Director of Cementos del Nare, President of Cementos Paz del Rio and Vice President of Logistics at Cementos Argos. He became the latter's President in June 2012. Velez has said that the main challenges awaiting Velasquez are the integration of Odinsa into Grupo Argos, the consolidation of Pactia (the property fund established with Conconcreto) and the expansion of Cementos Argos and Celsia.
The India Cements’ net profit grew almost five-fold in the second quarter of its 2016 fiscal year 03 November 2015
India: The India Cements Limited (ICL) has posted a nearly five-fold growth in its net profit for the second quarter of its 2016 fiscal year, which ended on 30 September 2015.
Its net profit grew from US$1.14m to US$6.26m in the second quarter of its 2016 fiscal year. Growth mainly stemmed from improved operating parameters and substantial reductions in variable costs. Its operating profit grew to US$35.4m from US$27.9m. Cement capacity utilisation was at 60% and is expected to rise.
According to Managing Director and Vice-Chairman of ICL, N Srinivasan, the last three quarters have seen the company posting consistent profits, a development that Srinivasan said had resulted in the company seeing better times ahead. "We have remained on the profit track for three consecutive quarters. Going forward, we see better times ahead. We had a tough time for two years and have achieved a turnaround by cutting costs and maintaining a healthy cement price," said Srinivasan. "With expected the increase in cement demand in the southern states and Andhra Pradesh building its new capital city Amaravati, we hope that the company will do well in the coming years."
Birla Corporation commissions cement blending unit in Uttar Pradesh 03 November 2015
India: Birla Corporation has commissioned its 50,000t/yr cement blending unit in Raebareli, Uttar Pradesh. In August 2015 it agreed to acquire, either directly or through its wholly-owned subsidiary, Lafarge India's Jojobera and Sonadih cement businesses for US$763m.
Rwanda delists Kilimanjaro Cement from preferential treatment 03 November 2015
Rwanda: Rwanda has delisted Kilimanjaro Cement produced by Amson's Tanzania Ltd from preferential treatment as part of its anti-dumping campaign to check external competition threatening the domestic market. However, Tanzania Ltd has appealed to the East African Community (EAC) committee on non-tariff barriers against the decision on Rwanda.
Rwanda, once a net importer of cement, is slowly building production capacity among local cement makers. Cimerwa and Kigali Cement have increased production capacity and will soon be able to supply local demand and also position the country to start exporting cement. Kilimanjaro Cement now attracts a 25% import duty like other goods imported from outside the EAC and the Common Market for Eastern and Southern Africa (COMESA).
Rwandan officials have alleged that Kilimanjaro Cement is imported from Pakistan and repackaged in local bags and so is not qualified to be treated as manufactured within the region. William Musoni, Commissioner Customs Services at the Rwanda Revenue Authority, said that before the government blacklisted Kilimanjaro cement, they had jointly carried out investigations with officials from the EAC Secretariat that confirmed that some of the cement exported from Tanzania is repackaged.