Cement News tagged under: corporate
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... |
West China Cement welcomes new CEO17 April 2024, Published under Cement NewsWest China Cement has announced the resignation of Mr Wang Fayin as an executive director of the company, effective from 16 April 2024. It has also named Ms Wang Rui as the new executive director and chief executive officer, also with effect from 16 April 2024. Ms Wang is vice-chair and party secretary of the general branch of Yaobai Special Cement Group Co Ltd, a wholly-owned subsidiary of West China Cement. She has held that role since January 2023 and is responsible for overseeing t... |
Ambuja Cements acquires 1.5Mta Tuticorin grinding unit16 April 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has signed a definitive agreement to acquire a 1.5Mta grinding unit from My Home Industries Group . The deal, which involves the Tuticorin facility in Tamil Nadu, India, has an estimated value of INR4137.5m (US$49.6m), which will reportedly be funded through internal accruals. The acquisition will take Adani Group’s total cement production capacity to 78.9Mta and will enhance the company’s coastal footprint across the southern markets of Tam... |
Belarusian cement plants post losses16 April 2024, Published under Cement NewsIn 2023 OAO Krichevcementnoshifer reported a loss of BYN120.65m (US$36.9m), a fourfold YoY increase despite a 9.3 per cent YoY revenue increase, according to Charter 97. OAO Krasnoselskstroymaterialy doubled its loss to BYN55.1m in 2023 when compared with 2022 while its revenue saw a 5.6 per cent YoY uptick. The OJSC Belarussian Cement Plant reduced its net loss by 16 per cent to BYN34.36m in 2023 while its revenue declined by 2.9 per cent over the same period. The Belarusian ce... |
American Society of Concrete Contractors joins WCA16 April 2024, Published under Cement NewsThe World Cement Association (WCA) has welcomed the American Society of Concrete Contractors (ASCC) as affiliate member. ASCC, a non-profit association, includes approximately 720 companies and serves as the only US-wide concrete contractors’ trade association. ASCC strives to provide its members with unparalleled resources, knowledge, and advocacy, fostering excellence, innovation, and professionalism within the concrete construction sector. Through collaboration, education, and advocacy ... |
Ambuja and ACC cements gain GRIHA recognition15 April 2024, Published under Cement NewsAmbuja Cements and ACC have achieved certification for their sustainable blended cement products and are now enlisted in GRIHA's Product Catalogue. According to the companies, this underscores their leading role in green cement production and commitment to achieving net zero emissions by 2050. GRIHA Council is an independent society developed for the promotion and adoption of sustainable habitats in the Indian subcontinent. It was established in 2007 with the combined efforts of the ... |
National Cement secures finance facility12 April 2024, Published under Cement NewsKenya’s National Cement has secured a KES4.3bn (US$33.1m) facility from Stanbic Bank Kenya to finance a debt undertaken to construct a new clinker plant in West Pokot , reports The Star. According to the bank, the facility is designed to partially refinance National Cement’s foreign currency liabilities resulting from its recent expansion activities. “This transaction underscores our commitment to fostering innovation and supporting the expansion efforts of leading corporates in Kenya... |