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Cemena focused on expansion at home and abroad
Bahrain: Cemena Holding Company has outlined plans to expand its business during its AGM, which focused on Cemena's profitability, returns and plans to diversify its offering. Shareholders were updated on the company's activities and financial performance for 2011 and the milestones reached during the year. The company, which was set up in 2008 by Gulf Finance House, also highlighted its new business strategy and hailed efforts of the management in achieving gross revenues of US$46.4m in 2011.
Shareholders were updated on the planned expansion of Falcon Cement Company's (FCC) production capacity, (Bahrain's first cement plant) bringing it up to a capacity of 3500t/day. The company said that the expansion of FCC will help it to meet Bahrain's growing demand for cement, where there is an increasing number of infrastructure projects.
"With the return of the growing demand for cement and building materials locally and in the region, Cemena successfully closed 2011 in profit," said Cemena chairman Hisham Alrayes. "This is a result of the tireless efforts of the team and the trust and confidence that our shareholders have in our vision."
Alrayes added, "Libya (is) stabilising (enabling) us to progress on our Libya Cement Plant. We are confident that we now have a strong platform for growth and expect to witness another strong cash flow performance in 2012."
Published in Global Cement News
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Turkish companies report on 2011
Turkey: Four Turkish cement producers have released annual financial results for the 2011 calendar year. Bolu Cement saw its total revenue increase by 22.2% to Euro79.7m and a net profit increase of 44.7% to Euro8.8m, ensuring profits in each of the last three years.
Meanwhile, Adana Cement saw a total revenue of Euro144.7m in 2011, up by 6.7% year-on-year. It extended its profit run to four consecutive years, although this slumped by nearly a quarter to Euro33.7m.
Cimsa Cimento saw a fifth consecutive year of strong results, with revenue and net profit both up. Revenue hit Euro352m, up 12% year-on-year and net profit was up by 19% to Euro54m.
Baticim Bati Anadolu Cimento also saw an increase in its revenue, a 10.6% increase to Euro158.4m and a near-70% increase in net profit, which rose to Euro11.1m from a low base.
Adana Çimento
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Lafarge to cut Euro1.3bn by 2015
France: Lafarge intends to cut its costs by Euro1.3bn from 2012 to 2015. The French-company announced that it is speeding up cost-cutting measures, boosting sales revenue and cutting net debt over the next four years in a bid to improve its profitability.
At least Euro400m of cost savings are scheduled for 2012 and at least Euro350m are planned for 2013. The plan seeks to raise Euro450m from innovation and efficiency gains and boost earnings before interest, taxes, depreciation and amortization (EBITA) by Euro1.75bn. As a result of the higher EBITDA, Lafarge will cut its net debt below Euro10bn 'as soon as possible' in 2013.
The company seeks to boost return on capital employed to above 8% by 2015.
"All our actions will contribute to higher cash generation, improved returns, and cash flow from operations to net debt of 28% to 30% no later than 2015," Lafarge said in a statement.
Lafarge has struggled over the past few years from its heavy debt load and the global economic downturn. Its debt peaked at Euro17bn in 2008, following a series of acquisitions culminating in the Euro8.8bn takeover of Egyptian rival Orascom Cement. The company had already managed to reduce its debt to Euro12.36bn at the end of the first quarter of 2012.
Lafarge Chief Executive Bruno Lafont reiterated the company will raise Euro1bn in asset sales in 2012 and doesn't plan any major acquisition over the coming years. He added that the company's ultimate goal is to raise dividends and resume investing once its financial structure is stabilised.
Minister denies cement plan problems
Vietnam: The Vietnamese minister of construction has claimed that the master development plan for the country's cement industry from 2011 to 2020 approved by the Prime Minister is still in line with market movements and that there is no 'cement crisis' in the country.
Trinh Dinh Dung said that Vietnam consumed 55Mt out of 64Mt of cement produced in 2011, with consumption accounting for 89% of production. "I confirm that there is no cement crisis caused by the development scheme as raised by some people," said the minister.
The country currently has a huge cement surplus given its low domestic consumption. Under a policy of public spending cuts, the amount of construction work is actually falling, pushing down consumption of building materials.The country is forecast to use 55-56Mt of cement in 2012, accounting for just 80% of its own output. "We can't say that the cement development plan triggers an oversupply crisis," said Dung.
One of the biggest questions is why the country still imports cement when it faces huge inventories. The minister explained the country must stick to local commitments that stipulate that ASEAN members cannot impose import bans or tariff barriers on cement. Furthermore, market forces also prompt cement imports, he said.
Cement is mainly produced in the north of Vietnam, resulting in high cement prices in the south due to transport fees. Sometimes, the price of local products gets higher than that of products imported from Thailand.
"In a market economy, the country must import goods from overseas markets at competitive prices if domestic production shows low efficiency," said the minister.
Bowmanville officially receives ISO 500001
Canada: Politicians and community leaders were on hand yesterday to celebrate the fact that St Marys Cement's Bowmanville Plant has received North America's first International Organisation for Standardisation's (ISO) ISO 50001 certification.
Erik Madsen, CEO of St Marys Cement Inc. accepted the certificate at a ceremony at the plant. The award presentation was made by Michael Delisle, CEO of International Certification Services Inc. (ICS). Although the ceremony was official recognition of the plant had achieved certification the company was officially registered as the first North American recipient of ISO 50001 on 15 November 2011.
Upon receiving the Certificate, Madsen observed, "St Marys identified the benefits and embraced the certification process early. The ISO 50001 programme and cement plants are a logical fit. Our Bowmanville plant has a rated capacity of over 1.8Mt/yr of product, operates 24/7 and consumes significant amounts of energy. Managing these energy costs is a no brainer. it is good for the environment and our bottom line."
Fabio Garcia, Operations Manager at the Bowmanville Plant, told ceremony attendees, "Receiving this prestigious certification was not something that happened overnight. The origins of this certification can be traced back to 2005 when we were given the green light by senior management to move forward with an integrated strategy to reduce the plant's energy consumption. This quickly became an initiative supported and made possible by all of our employees."
CEO Madsen concluded, "The commitment to energy conservation, and the continual desire to improve processes by the entire staff at our Bowmanville plant, is the reason that this is the first North American site to receive ISO 50001 certification. The energy conservation elements of ISO 50001 certification means we are on track for over US$1m in savings in 2012 alone. I want to thank each and every one of our employees, who helped to make this possible."
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