Cement News tagged: Corporate

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...

Furno Brick's 'mini kiln' enables compact, scalable cement production

14 March 2024, Published under Cement News

US-based Furno, a start-up aiming to mitigate climate change through its novel combustion technology, has launched its end-to-end cement production unit, the Furno Brick. According to the company, the Furno Brick is the world’s first modular and carbon-neutral cement plant that scales in demand, dramatically reducing the barrier to entry and unlocking local or small-scale cement production.  ...

Flying Cement Co posts a profit rise of 23% during 1HFY23-24

13 March 2024, Published under Cement News

Flying Cement Co Ltd has released detailed interim financial statements for the 1HFY23-24, which ended 31 December 2023. The company earned a net profit after tax of PKR170.95m (US$0.612m) when compared with PKR138.85m in the 1HFY22-23, up by 23.1 per cent YoY due to increased sales (PKR2.36bn) during this period. Yet, it incurred a higher borrowing cost of PKR112m and taxation of PKR74.38m ...

Ramco Cements opens new cargo terminal

Ramco Cements opens new cargo terminal

13 March 2024, Published under Cement News

Ramco Cements has inaugurated its new Gati Shakti Cargo Terminal at Jayanthipuram in Andhra Pradesh, India. The terminal will enable Ramco to transport crushed limestone from its mines in Budawada to its cement plant in Jayanthipuram. It also marks the first time an Indian cement producer has used electric locomotives to transport its limestone to its plant.  The railway wagons loaded wit...

Holcim North America introduces ECOAsh beneficiated ash

13 March 2024, Published under Cement News

Holcim North America has announced the introduction of ECOAsh beneficiated ash within its Lafarge Western Canada operations. According to Holcim, with plans for future expansion into the US, this strategic move not only demonstrates Holcim North America's dedication to sustainability but also positions the company as an early adopter of innovative technology aimed at decarbonising the constr...

Unacem reports 7% revenue increase in 2023

Unacem reports 7% revenue increase in 2023

15 March 2024, Published under Cement News

Peru-based cement producer  Unacem has reported revenue of PEN6.38bn (US$1.73bn) in 2023, marking a 6.6 per cent increase YoY, despite the country’s declining construction sector. Net profit over the same period contracted by 22.1 per cent to PEN514m, while the EBITDA margin fell from 26.3 per cent in 2022 to 23.4 per cent the following year, according to BNAmericas.  In the fourth quarter...

Chia Hsin Cement Corp sees sales advance YoY

13 March 2024, Published under Cement News

Taiwan-based Chia Hsin Cement Corp has reported sales of TWD2911.6m (US$92.7m) for the full year 2023, marking an increase from TWD2253.7m in the previous year. Net income in 2023 came in at TWD81.1m, compared to a net loss of TWD180.8m in the year-ago period. Basic earnings per share from continuing operations stood at TWD0.12 in 2023m, up from a basic loss per share of TWD0.27 in 2022. 

Cementir announces 2% drop in revenue in 2023

15 March 2024, Published under Cement News

Cementir has announced that its 2023 group revenues from sales and services have dropped 1.7 per cent to EUR1694.2m (US$1852.02m) after a record year of EUR1723.1m in 2022. The slight fall in revenues has been attributed to a reduction in volumes sold and weak local currencies, against a moderate increase in prices. Cementir added, in their press release that, had exchange rates remained con...

ABB and Salt X extend collaboration for electrification of calcination process

12 March 2024, Published under Cement News

ABB and Sweden-based green tech company Salt X have signed an agreement to enable further development of electric arc calcination (EAC). Under the new agreement, Salt X will further develop its innovative EAC technology, which makes it possible to reach several thousand degrees Celsius. The electric plasma solution reinvents industrial calcination  and replaces fossil fuel-based heating with...

Fecto Cement's performance in increases 2% in 1HFY24

12 March 2024, Published under Cement News

According to the recently-released Fecto Cement Ltd 1HFY23-24 report, clinker production increased by   2.4 per cent during the six months. It reached 342,673t, up from 334,597t in the same period last year. Cement production increased by 21.7 per cent to 384,229t, up from 315,836t in the 1HFY22-23. The company's total sales volume for the 1HFY23-24 increased by 22.8 per cent, reaching 38...

Misr Beni Suef Cement announces return to profitability in 2023

12 March 2024, Published under Cement News

On 7 March 2024, Misr Beni Suef Cement Company SAE (MBSC) reported that it made a net profit of EGP369.102m (US$7.520m) after tax in 2023. This comes after they reported net losses of EGP145.945m in 2022. In 2022 the company reported sales of EGP1.844bn. Over the same period in 2023, MBSC’s sales grew to EGP2.023bn. The company’s return to profitability, following a year of net losses, c...

Maple Leaf Cement Factory diversifies into hospitals

12 March 2024, Published under Cement News

Maple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) about its investment in the hospital business on 10 March. The bourse filing said that Novacare Hospitals (Pvt) Ltd, a wholly-owned subsidiary of the company, will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust,...

Hoffmann Green extends reach in western France

12 March 2024, Published under Cement News

Hoffmann Green Cement Technologies has announced the signature of a commercial partnership with Groupe Tartarin, a company based in Vienne, western France, which manufactures a wide range of ready-to-use cements. Founded in 1923, Groupe Tartarin offers a wide range of ready-to-use cements to meet specific needs, from garages to garden sheds and industrial buildings. Based in the Vienne r...

Eastern Province Cement net profit up 39%

12 March 2024, Published under Cement News

Saudi Arabia-based Eastern Province Cement Co reported a 38.5 per cent advance in net profit to SAR198m (US$52.8m) in 2023 when compared with SAR143m in 2022. The company’s sales increased 25.6 per cent YoY to SAR985m from SAR784m. Earnings per share reached SAR2.30 in 2023, up from SAR1.67 in the year-ago period.

Titan launches new company logo

12 March 2024, Published under Cement News

Titan has unveiled its new logo, designed to embody “the group’s purpose to make the world around us a safe, sustainable, and enjoyable place to live and reflects its Green Growth strategy”.  According to the company, with its globe-shaped emblem and new colour palette, Titan’s refreshed logo also stands for Titan’s international presence, promise to create value for all its stakeholders,...