Cement News tagged: Corporate
GCC net income up 51% in 1Q24
GCC SAB de CV reported a 11.9 per cent YoY increase in consolidated net sales to US$272.8m in the 1Q24 from US$243.9m in the 1Q23, mainly on the back of higher sales volumes in the US and favourable pricing in both markets. However, operating expenses were up by 45.5 per cent YoY to US$58.5m in the 1Q24 from US$40.2m in the year-ago period. The company posted a 31.6 per cent advance in EBI...
Heidelberg Materials UK opens new recycling hub
Heidelberg Materials UK has opened a new recycling hub at its Appleford depot in Oxfordshire, UK. It is the first of several planned this year as part of the company’s strategy to conserve natural materials and promote the circular economy. The Appleford hub will recycle construction waste, diverting it away from landfill and processing and reusing it to deliver sustainable products to i...
Qatar National Cement reports dip in sales in 1Q24
Qatar National Cement Co has reported sales of QAR106.06m (US$29.14m) in the first quarter of 2024, ended 31 March. This compares to QAR127.95m in the same period a year earlier. Net income came in at QAR51.37m, down from the QAR64.1m seen in the opening quarter of 2023. Basic earnings per share from continuing operations stood at QAR0.08 in the 1Q24, compared to QAR0.10 in the year-ago ...
UltraTech agrees to acquire India Cements grinding facility
India’s leading cement producer, UltraTech Cement , has agreed to purchase a 1.1Mta grinding facility in Parli in Maharashtra for INR3.15bn (US$37.8m) from India Cements Limited . UltraTech, a subsidiary of the Aditya Birla Group, will also invest INR5.04bn to expand its total capacity by 3Mta, including the Parliament facility. The acquisition of the facility, as part of an asset pu...
DG Khan Cement posts 6% YoY profit growth in 9MFY24
DG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn. A cursory review o...
HeidelbergCement Bangladesh to change its name
HeidelbergCement Bangladesh Ltd has called the Annual General Meeting (AGM) scheduled for 8 May 2024 to approve some important company matters and change the company’s name in Bangladesh. This follows the announcement that one of the company’s major shareholders, HeidelbergCement Netherlands Holding BV, changed its name to “Heidelberg Materials Netherlands Holding BV”, effective from 3 Novem...
Holcim El Salvador receives positive packaging certificate
Holcim El Salvador received the 100% Recovered Energy (Positive Packaging) distinction, awarded by the international certification company Société Générale de Surveillance (SGS), for recovering from the environment packaging of the same or greater amount than the paper used in its cement packaging. The recovered packaging is used in co-processing. The company recovers paper through a waste s...
Anhui Conch revenue up 7% YoY in 2023
Anhui Conch Cement has beaten analyst expectations by posting revenue of CNY141bn (US$19.5bn). This marks a 6.8 per cent increase on the previous year. Net income in 2023 came in at CNY10.7bn, down 33 per cent on 2022, while the profit margin fell 12 per cent YoY in 2023. According to the company, the decline in margin was driven by higher expenses. Earnings per share in 2023 stood at CNY2....
Martin Engineering sees in its 50th year of air cannon manufacturing
Martin Engineering is marking the 50th anniversary of its invention of the world’s first low-pressure air cannon. Air cannons have transformed material flows in bulk processing systems, eliminating problematic internal buildups and blockages. After five decades of continuous innovation, Martin Engineering manufactures air cannon advancements, enabling industrial plants to run more profitably, ...
Tianrui stock crash linked to margin call
The 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 sh...
IKN supply cooler for Kukurdih cement plant
UltraTech'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 50...
Bestway Cement posts a fall in profit in 9MFY23-24
Bestway 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 per...
Udaipur Cement Works inaugurates Dabok cement mill
Udaipur 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 ...
thyssenkrupp announces new CEO
thyssenkrupp 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 i...
First Graphene announces third trial at Breedon
First 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 part...
Gautam Adani raises stake in Ambuja Cements
Gautam 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 it...