Displaying items by tag: GCW432

Colombia: Cementos Argos’ revenue in the three months to 30 September rose by 44% year-on-year to US$1.52bn for US$1.06bn. Lower sales across its cement and concrete sections caused the company’s three-month profit to drop by 65% year-on-year to US$10.3m over the period from US$29.6m. Higher costs also offset the income from the sale of the group’s Barranquilla natural gas power station to Glenfarne Group for US$420m in the quarter.

Philippines: Irish-based CRH has engaged JP Morgan, the bankers, for the sale of its entire Philippine unit. The company operates 3.1Mt/yr of integrated and 0.8Mt/yr clinker grinding capacity via its stake in Republic Cement’s three integrated plants and one grinding plant, inherited in 2015 from Lafarge and Holcim as a part of the pair’s merger.

The Irish Times has reported the estimated value of the divestment at between Euro1.82bn and Euro 2.73bn. The announcement caused CRH’s share price to rise to its highest level since May 2017.

Egypt: Misr Cement Qena’s profit in the three months to 30 September took a 67% year-on-year dive to US$1.85m from US$5.56m. Sales continued on an upward trend, ending the period up by 6.3% at US$146m from US$138m in the corresponding period of 2018.

Egypt: Misr Beni Suef’s sales over the three months to 30 September 2019 were US$29.6m, up by 24% from US$23.9m in the corresponding period of 2018. This growth failed to offset the challenges of profitability in a saturated market, with profit falling by 2.7% year-on-year to US$1.34m from US$1.37m.

UAE: Gulf Cement’s losses in the nine-month period to 30 September 2019 were US$1.06m, compared to a US$0.44m profit in the corresponding period of 2019. This was caused by a fall in nine-month revenue of 8.3% year-on-year to US$92.8m from US$101m.

US: LafargeHolcim subsidiary Lafarge North America’s Presque Isle quarry, which supplies raw limestone to its 2.6Mt/yr Alpena integrated cement plant – both in Michigan – has won the National Stone, Sand and Gravel Association (NSSGA)’s Gold Award in the Community Relations Excellence category. Business Wire has reported that it previously won Gold for Environmental Excellence in 2018. In recognition of its consecutive Golds, the NSSGA honoured the quarry with its prestigious Two Stars of Excellence award. LafargeHolcim’s operations in the country extend over 350 sites across 43 states. Its aim is to ‘help build better communities with innovative solutions that deliver structural integrity and eco-efficiency.’