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RHI Magnesita appoints Jacqueline Knox as EVP General Legal Counsel & Company Secretary
Written by Global Cement staff
31 October 2018
Austria: RHI Magnesita has appointed Jacqueline Knox as EVP General Legal Counsel & Company Secretary. She will join the company on 1 December 2018 and will be part of its executive management team.
Knox was previously General Counsel and Company Secretary at Ophir Energy, a Financial Times Stock Exchange (FTSE) listed upstream oil and gas business with a large portfolio of assets across Africa and Asia, which she helped to take from a private company to a London listing. She holds a dual degree in law and international relations (BA/LLB) from the University of Queensland and is a dual British / Australian citizen.
CNBM’s revenue rises by 21.5% to US$22.5bn so far in 2018 31 October 2018
China: China National Building Material’s (CNBM) revenue rose by 21.5% year-on-year to US$22.5bn in the first nine months of 2018 from US$18.5bn in the same period in 2017. Its net profit nearly doubled to US$1.7bn from US$956m.
Vietnam: China has become the largest importer of clinker and cement from Vietnam in the first nine months of 2018. It imported 6.56Mt with a value of US$235m, according to the Việt Nam News newspaper. The Philippines, Bangladesh and Taiwan were the next largest importers with 4.75Mt, 5.64Mt and 1.23Mt respectively.
Jindal Steel & Power to build 2Mt/yr slag cement plant at Angul 31 October 2018
India: Jindal Steel & Power (JSP) plans to build a 2Mt/yr slag cement plant at Angul in Odisha. The US$68m unit will use ground granulated blast furnace slag sourced from a nearby steel plant operated by JSP, according to the Business Standard newspaper. A recent expansion at the steel plant to 6Mt/yr has allowed it to support a cement plant of this size. Land for the project has been acquired and the company hopes to obtain it from the state government by early 2019.
Lucky Cement’s sales boosted by export market 31 October 2018
Pakistan: Lucky Cement’s sales volumes have been supported by exports in its first quarter. Local sales dropped by 9.1% year-on-year to 0.14Mt in the period to the end of September 2018 but exports rose by 85.1% to 0.23Mt. Despite this, its revenue rose by 2% to US$121m from US$118m. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 19.7% to US$25m from US$31m. It said that its cost of sales had increased by 7.3% due to increases in coal, packaging and other fuel prices.