Cement News tagged: Corporate

Riyadh Cement reports 8% uptick in sales

19 March 2024, Published under Cement News

Saudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago pe...

Hoffmann Green exceeds revenue target for 2023

19 March 2024, Published under Cement News

Hoffmann Green Cement Technologies has reported revenue of EUR6.04m in 2023, far exceeding its target of EUR4.5m, and marking a notable increase from EUR2.2m in the previous year. This is attributed to the increase in cement sales volumes and the signing of the company’s first international licensing contract in Saudi Arabia. EBITDA improved from -EUR6.6m in 2022 to -EUR5.2m the following ye...

Southern Province Cement Co releases its 2023 financial results

19 March 2024, Published under Cement News

Southern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent fr...

Titan reports record EBITDA growth of EUR540m in 2023

18 March 2024, Published under Cement News

Titan reported record EBITDA in 2023 reaching EUR540.3m, up by 63.1 per cent, achieving margin expansion. All regions posted double-digit profitability growth, thanks to increased sales across all main products, firm pricing, operational efficiencies and improved performance of energy costs, said a company statement. Group sales in 2023 totalled EUR2547m, a 11.6 per cent increase compared to ...

DCMI in talks to acquire CEMEX Holdings Philippines

DCMI in talks to acquire CEMEX Holdings Philippines

18 March 2024, Published under Cement News

Philippines-based D M Consunji Inc (DCMI), an engineering-based construction firm, is looking to expand into the cement business with the potential acquisition of CEMEX Holdings Philippines (CHP). According to The Philippine Star, the acquisition is seen as benefitting DCMI as cement is a key input in some of its major businesses. It could also help mange the costs of its property arm.  A...

Misr Cement becomes an exclusive agent for MAN in south Upper Egypt

18 March 2024, Published under Cement News

Misr Cement Maintenance has collaborated with Kastour Egypt for Trade and Industry, the exclusive agent of the International German truck brand MAN along with other brands. The agreement was signed by Kastour Egypt for Trade and Industry, represented by Eng Kastour Mamdouh Kastour, chairman and managing director, and Misr Cement Maintenance, represented by Eng Bassam Abdel Rasoul, group c...

S&P upgrades CEMEX's credit rating

S&P upgrades CEMEX's credit rating

15 March 2024, Published under Cement News

Rating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation.  “Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we ha...

Holcim Mexico appoints Jorge Gonzalez as CFO

15 March 2024, Published under Cement News

Jorge Gonzalez has been named as the new CFO of Holcim Mexico , the Mexican division of one of the largest global producers of building materials. This move, by the company, is reportedly aimed at strengthening their position as an industry leader in sustainable construction materials.  The new CFO says, “I am excited to take on this new challenge at a key moment for Holcim Mexico, in whic...

WCA host 7th General Assembly in London

15 March 2024, Published under Cement News

The World Cement Association (WCA) held its 7th General Assembly on February 27th in London at the National Liberal Club. Representatives from member organisations participated in the GA, both in-person and virtually, engaging in discussions on current activities, upcoming plans, and the election of new board members. The event concluded with a networking lunch, providing an opportunity for me...

CEMEX Croatia awarded contracts for three solar power plant projects

14 March 2024, Published under Cement News

CEMEX Croatia has been awarded EUR5m (US$5.5m) in contracts for the construction of three solar power plants, co-funded by The Environmental Protection and Energy Efficiency Fund and the EU Modernisation Fund. The project will see solar energy production facilities built at Juraj cement plant in Kaštel Sućurac, Kajo cement plant in Solin and the Podsused facility in Zagreb. Approximately...

Heidelberg Materials launches Airvault CCUS project

15 March 2024, Published under Cement News

Marking the latest addition to its portfolio of carbon capture, utilisation and storage (CCUS) initiatives, Heidelberg Materials has announced another CCUS project at its Airvault cement plant in the French New Aquitaine Region. The AirvaultGOCO₂ project, with a planned capture capacity of approximately 1Mta, is part of the GOCO₂ initiative to decarbonise the west of France.  “We starte...

Humboldt Wedag India & KIMA Process Control form strategic alliance

15 March 2024, Published under Cement News

Humboldt Wedag India Pvt Ltd (HW India) has partnered KIMA Process Control in a strategic alliance. HW India becomes the exclusive sales and service partner for KIMA Process Control in India, further solidifying its commitment to delivering cutting-edge process control solutions for the cement sector. KIMA Process Control's advanced products will complement HW India's existing portfolio of ...

CEMEX Holding Philippines addresses plastic waste

14 March 2024, Published under Cement News

CEMEX Holdings Philippines Inc has teamed up with Liwayway Marketing Corp to address the management of plastic waste in the Philippines. Under the deal, Liwayway Marketing Corp, the country’s leading snack food supplier, will be channeling its post-consumer plastic packaging waste to CEMEX’s Solid cement plant for co-processing. The plastic waste will then be converted into alternative fue...

PT Solusi Bangun Indonesia reports uptick in YoY sales

14 March 2024, Published under Cement News

PT Solusi Bangun Indonesia Tbk has posted net sales of IDR12,371bn (US$798m) in 2023, marginally up from the IDR12,262bn seen in the previous year. Net income in 2023 came in at IDR894,645m, also marking an advance YoY compared to IDR839,276m in 2022. Basic earnings per share from continuing operations over the same timeframe improved from IDR93 in 2022 to IDR99 in 2023.

Shree Cement enters RMC sector

14 March 2024, Published under Cement News

Shree Cement has acquired five ready-mixed concrete (RMC) plants from StarCrete LLP. The plants, which have an aggregate capacity of 422m 3 /h, are all located in Mumbai, reports The Times of India. Commenting on the deal, Neeraj Akhoury, managing director of Shree Cement, said, “The strategic foray into RMC segment is a step ahead in our vision to become a multi-product company centred ...

Hsing Ta Cement reports a 72% growth in net profit in 2023

14 March 2024, Published under Cement News

Hsing Ta Cement Co Ltd has reported a 71.8 per cent increase in net profit, from TWD399.2m (US$12.7m) in 2022 to TWD685.9m in 2023. The net profit growth comes after a 1.6 per cent reduction in revenues from TWD6.4bn to TWD6.3bn, over the same period. Basic earnings per share for 2023 came to TWD2.01, up 71.8 per cent from TWD1.17 in 2022.  Diluted earnings per share increased 72.4 per...