Cement News tagged under: corporate
Tianrui stock crash linked to margin call19 April 2024, Published under Cement NewsThe 99 per cent drop in the stock of China Tianrui Group Cement Co last week triggered a margin call for a major shareholder and wiped out nearly all of its market value. About 4.53 per cent of the company's stock was "forcibly sold in the open market due to the unusual price drop" on 9 April, the company said in a filing. The 133.1m shares were held in the margin accounts of controlling shareholder Yu Kuo Co, which is indirectly owned by non-executive director Li Liufa and his spouse, re... |
IKN supply cooler for Kukurdih cement plant19 April 2024, Published under Cement NewsUltraTech's Kukurdih greenfield cement plant in India, has become IKN’s 14th clinker cooler installation with five more coming soon, says IKN. IKN is proud to join UltraTech Cement 's 150Mta celebration with its energy-efficient IKN pendulum cooler. The new Kukurdih cement plant will have a clinker capacity of 3.5Mta and a cement capacity of 5Mta, as well as a captive power plant of 50MW. The plant is located in the village of Sarkpar, Chhattisgarh. |
Bestway Cement posts a fall in profit in 9MFY23-2419 April 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 3QFY23-24 (January-March 2024) and 9MFY23-24 (July 2023-March 2024) results on the Pakistan Stock Exchange (PSX) on 17 April 2024. The company’s net earnings stood at PKR10.31bn (US$37m) in the 9MFY23-24, down by 11.4 per cent YoY. The high cost of finance and expensive sales can be attributed to the lower profits during this period. During this period, its gross sales increased by 27.1 per cent to PKR112.11bn from PKR88.22bn. It incurred a distri... |
Udaipur Cement Works inaugurates Dabok cement mill19 April 2024, Published under Cement NewsUdaipur Cement Works Ltd (UCWL) , part of JK Lakshmi Cement Ltd , has inaugurated cement mill IV at its Dabok plant in Udaipur, Rajasthan, India. The new mill increases cement capacity at the integrated plant from 2.2Mta to 4.7Mta and is expected to improve efficiency, productivity and product quality. In addition, the mill includes measures to minimise its environmental impact. Shrivats Singhania, UCWL director and CEO, said, “This expansion not only strengthens our position in the cem... |
thyssenkrupp announces new CEO19 April 2024, Published under Cement Newsthyssenkrupp has announced the appointment of Christian Myland as the new chief executive officer of thyssenkrupp Polysius, effective 1 June 2024. He succeeds Pablo Hofelich, who has decided to take on a new professional challenge outside thyssenkrupp. Mr Myland brings more than 16 years of corporate experience to his new position. In addition to various roles and management functions in Germany and abroad, including at thyssenkrupp Steel Europe AG and thyssenkrupp Steel Americas as w... |
First Graphene announces third trial at Breedon18 April 2024, Published under Cement NewsFirst Graphene will start the third trial of its PureGRAPH-CEM ® under full-scale production conditions at the UK’s largest cement producer, Breedon Cement . Following the start of the trial in the 1QFY24-25, the company expects to produce up to 1000t of graphene-enhanced cement at Breedon’s Hope Cement Works in Derbyshire, UK. The new product is based on a PureGRAPH ® grade with a particle size distribution and morphology optimised for use in cement grinding mills, which will enable ... |
Gautam Adani raises stake in Ambuja Cements18 April 2024, Published under Cement NewsGautam Adani and his family have made a further investment in Ambuja Cements . Injecting another INR83,390m (US$998.3m) into the business has increased their stake in the cement producer to 70.3 per cent. This follows a previous injection of funds on 28 March this year, raising their stake to 66.7 per cent. According to The Telegraph, this latest investment will help Ambuja accelerate its growth plans which aim to double its cement production capacity from 76.1Mta, as at the end of 202... |
Holcim Philippines invests US$35m in renewable energy18 April 2024, Published under Cement NewsHolcim Philippines has announced plans to spend PHP2bn (US$35m) over the next three years on co-processing and increasing its use of renewable energy. According to the company, the funds will be spread across its four plants in Bulacan , La Union , Davao and Lugait . Bulacan and La Union will receive the investment this year, with Davao and Lugait receiving the investment in the following year, reports The Philippine Star. The investments are intended to support activities such a... |
Attock Cement adds a new line at Hub17 April 2024, Published under Cement NewsIrfan Amanullah, company secretary at Attock Cement , informed the Pakistan Stock Exchange on 16 April that construction and installation work concerning the additional 1.275Mta cement line at the Hub manufacturing site in Baluchistan was completed. The new line is now operational and production has commenced. |
Shree Cement predicted to see 2% sales advance17 April 2024, Published under Cement NewsIndia-based brokerage, Prabhudas Lilladher, has announced its estimated earnings for Shree Cement in the January-March 2024 period, with a forecast of INR5572m (US$66.58m) in net profit. This marks a two per cent advance YoY, but 24.1 per cent contraction QoQ. Net sales are predicted to advance by 1.9 per cent YoY to INR48,754m, marking a 0.5 per cent decline QoQ, reports Money Control. Meanwhile, EBITDA is forecast to come in at INR11,208m, up 25.6 per cent YoY but down 9.1 per cent... |