Cement News tagged under: corporate
Gautam Adani injects US$799m into Ambuja28 March 2024, Published under Cement NewsGautam Adani and his family have invested a further US$799m in Ambuja Cements Ltd , raising their stake in the cement producer to 66.7 per cent. According to Bloomberg News, the move is indicative of the billionaire’s confidence in the cement business as India undergoes an infrastructure boom. Adani first acquired a controlling stake in Ambuja Cements Ltd and ACC Ltd in 2022 for US$10.5bn. This latest investment will help Ambuja Cements increase its production capacity to a target 1... |
UltraTech to buy stake in clean energy plant28 March 2024, Published under Cement NewsIndian cement producer UltraTech , part of the Aditya Birla Group , will by a 26 per cent stake in O2 Renewable Energy XXII for approximately INR160m to meet the energy requirements of its cement plants. New Delhi-based O2 is planning a 35-48MW solar power plant in Karnataka, India. The acquisition is part of UltraTech's investments in clean power sources. The share purchase of O2 is also to optimise energy costs and comply with regulatory requirements in terms of captive power consump... |
Cemento Polpaico reports CLP4722.8m loss in 202328 March 2024, Published under Cement NewsChile-based Cemento Polpaico SA , part of the Hurtado Vicuña Group , posted a loss of CLP4722.8m (US$4.81m) in 2023, compared with a CLP3921m profit in 2022. Revenues fell 7.4 per cent YoY to CLP341140m from CLP368390m. The company sold 1,637,770t of cement in 2023, down 19.3 per cent than the equivalent period in 2022. Concrete sales decreased by 19.7 per cent YoY to 2,560,238m 3 in 2023. Cemento Polpaico started a corporate and operational reorganisation, including its subsidiaries, ... |
Ecocem announces plans to expand production in The Netherlands28 March 2024, Published under Cement NewsEcocem agrees deal with Overslagbedrijf Moerdijk to expand production and storage capacity in The Netherlands (© Ecocem) Europe’s leading provider of low-carbon cement technologies, Ecocem , has reportedly negotiated a deal with Overslagbedrijf Moerdijk (OBM) to expand production and storage capacities in The Netherlands. The deal is a part of Ecocem’s plans to make its ‘ACT technology’ commercially available by 2026. ACT is a breakthrough cement technology that comb... |
A top official of Attock Group receives the highest civil award28 March 2024, Published under Cement NewsAttock Group of Companies in Pakistan congratulates Shuaib A Malik, Group CEO, on being conferred with the prestigious Sitara-e-Imtiaz by the government of Pakistan. He has been recognised for his outstanding contributions to fostering and facilitating foreign direct investment (FDI) in Pakistan's ever-challenging business environment. Attock Group of Companies includes the holding company Attock Oil Company Ltd (AOC). Its subsidiaries include Pakistan Oilfields Ltd (POL), Attock Refine... |
Saint-Gobain issues first double green bond27 March 2024, Published under Cement NewsSaint-Gobain has successfully priced its first double green bond, reinforcing its commitment to sustainable construction. This follows a Sustainability Linked Bond in August 2022 and renewal in December 2023 of its backup revolving credit facility as a Sustainability Linked Loan. Two tranches of the green bond have been issued – EUR1bn with a six-year maturity and a 3.375 per cent coupon, and EUR1bn with a 10-year maturity and a 3.625 per cent coupon. According to the company, the bonds... |
CRH completes lime divestment deal in UK27 March 2024, Published under Cement NewsIn November 2023 CRH announced that its had reached an agreement to divest its lime operations in Europe to SigmaRoc for around US$1.1bn. The first phase of the deal was completed in January 2024, comprising the operations in Germany, Czech Republic and Ireland. CRH has now completed the second phase of the transaction, comprising its UK lime operations. The final phase, concerning the assets in Poland, is due to complete later this year. The deal includes 16 operating locations a... |
Sublime Systems to build first commercial plant27 March 2024, Published under Cement NewsUS-based Sublime Systems has been awarded up to US$87m in funding by the US Department of Energy (DOE). The funding will be used to accelerate construction of Sublime’s first commercial manufacturing plant in Holyoke, Massachusetts. Sublime, which first launched in 2020, has scaled up its electrochemical cement manufacturing process to a pilot capacity of 250tpa at its plant in Somerville. The next step, the Holyoke commercial facility, will produce up to 30,000tpa of Sublime Cement™, wit... |
Caribbean Cement's expansion underway27 March 2024, Published under Cement NewsPhase one of Caribbean Cement Co Ltd ’s (CCCL’s) expansion project is well underway in Jamaica. It is anticipated that when the Rockfort plant 's expansion is completed, Caribbean Cement’s existing cement-production capacity will increase by approximately 300,000t. Phase One of CCCL’s expansion project, which will deliver an increase of up to 30 per cent in cement production, is progressing towards full completion next year. The company’s newly-appointed Managing Director, Jorge Martine... |
Fujairah Cement reports sales drop in 202327 March 2024, Published under Cement NewsUAE-based Fujairah Cement Industries has reported sales of AED343.81m (US$93.62m) in 2023. This marks a contraction from the AED374.58m seen in the previous year. The company has also recorded a net loss of AED265.53m in 2023, compared to the loss of AED143.85m in 2022, while the basic loss per share from continuing operations came in at AED0.74 in 2023, versus a loss of AED0.40/share in the previous year. |