Browse the latest asia & pacific rim news and articles.
Terra Cement Inc. has entered into a joint venture agreement with South Australia’s Ore Mines International Pty Ltd to form a new company – Terra Cement Australia Pty Ltd.
Malaysia’s Tasek Corporation Bhd recorded a 7.1% decline in profit in the quarter ended 30 September 2014 due to lower profit margins from its cement division.
According to local press, Taiwan Cement Corp. is to purchase China’s Sichuan Railway Group Cement Co. via its Hong Kong-based subsidiary TCC International Holdings Ltd.
Higher costs related to maintenance activities put a dent in the company’s margins, but net income rose 4.4% and gross revenue was up 18.2% in the quarter.
Reporting on its results for the first quarter of its current financial year, Lucky Cement said that local sales grew to 0.965 million t and net sales revenue rose 12.2%.
Ambuja Cements Ltd has reported an increase in net sales, operating EBITDA and net profit after tax for the July – September 2014 quarter.
ACC posted a 62% increase in net profit for the quarter ended 30 September 2014, which was attributed to better cost management and improved realisations.
The company has reported two consecutive quarters of growth, with production and sales both up and operating profit considerably higher than the same period last year.
Pakistan’s Fauji Cement announced a net profit of Rs.602 million for 1Q15, a 3% y/y increase compared to Rs.582 million recorded in 1Q14.
Maple Leaf Cement and Kohat Cement have increased their profits for the June – September quarter, despite increased costs.
The People Management Association of the Philippines has recognised Cemex with the 2014 Employer of the Year Award.
Approximately 5.4 million t of cement was sold in the Philippines in 3Q14, 11.9% higher than the 4.8 million t dispatched in 3Q13.