Cement News tagged: Corporate
Lafarge Canada completes transition to greener cement
Lafarge Canada has announced the full transition of production from traditional general-use cement to OneCem ® , a greener product that results in significantly lower CO 2 emissions, at its St-Constant cement plant in Quebec. “We are excited to take another crucial step in our sustainability journey. The transition to OneCem production at our St-Constant plant indicates Lafarge Canada...
Gulf Cement Co sees revenue advance 33% YoY
Gulf Cement Co has posted revenue of AED462.7m (US$125.99m) for 2023, up 33 per cent from the AED348.1m reported in the previous year. For 2023 the company saw a loss of AED21.84m versus a loss of AED30.46m in 2022. According to the company, the losses are the result of challenges including an increase in supply compared to demand, and falling cement and clinker prices in the local and ex...
Confidence Cement’s net profit rises 25% in 1HFY23-24
Confidence Cement PLC , Bangladesh’s leading cement manufacturer, recently announced its financial results on the Dhaka Stock Exchange (DSX). The company reported a profit after tax of BDT434.1m (US$3.96m) between July and December 2023 (six months) against a profit of BDT346.3m earned during the same period last year. This translates into a growth of 25.34 per cent in profit due to a fall in...
Vicat reports 8% growth YoY in 2023
Vicat has reported 8.1 per cent YoY growth in consolidated sales to EUR3.94bn in 2023, compared to EUR3.64bn in the previous year. Over the same period EBITDA has improved by 29.8 per cent from EUR570m to EUR740m. The EBITDA margin has expanded by 3.1 points from 15.7 per cent to 18.8 per cent. The company attributes the advance to its “geographically balanced” portfolio benefiting from cash...
Medcem announces terminal partnerships in UK
Turkey’s Medcem has announced a partnership with Brett Concrete, one of the largest independent concrete companies in the UK, to establish a terminal at Sheerness Port in Kent, UK. The terminal, which will have a storage capacity of 80,000t, is expected to be operational by July 2024. According to Medcem, the new facility will handle various cementitious products, primarily dry ash. Medc...
Kohat Cement Co profits grow by 24% in 1HFY23-24
Kohat Cement Co Ltd announced its financial result for 1HFY23-24 on the Pakistan Stock Exchange website on 14 February, posting a profit after tax (PAT) of PKR4.453bn (US$15.9m) compared to a PAT of PKR3.578bn in the same period last year (SPLY). This translates into a growth of 24 per cent YoY. On the other hand, the profitability in 2QFY23-24 advanced by 14 per cent YoY to PKR2.224bn compa...
Lebap Cement exceeds 1Mt production in 2023
The Lebap cement plant in Turkmenistan produced more than 1Mt of cement of various grades last year. About 107,500t of cement were sent to neighbouring Uzbekistan last year, reports Turkmenportal. The plant’s specialists are optimistic about the future, planning to increase product production along with improving its quality indicators.
Holcim to invest US$55m in Tabasco mill
Holcim Mexico plans to invest US$55m in the construction of a new grinding mill at its plant in Macuspana , Tabasco, Mexico. The new mill will increase cement capacity at the facility to 1.5Mta. This investment in Tabasco reflects our firm belief in the potential of southeastern Mexico and our commitment to the sustainable development of the region," said Jaime Hill, Holcim Mexico's CEO,...
Freehill Mining to supply Cementos Melón
Australia-based Freehill Mining Ltd has secured a purchase order from Chile’s Cementos Melón with a gross sales value of approximately US$185,000. The purchase order is for the supply of material to Melón’s Coquimbo cement plant from Freehill’s 100 per cent-owned Yerbas Buenas project in Maule Region, Chile. The material will be delivered over a two-month period, likely to commence in mid-Ma...
Oficemen signs decarbonisation technology agreement with Enagás
Spain’s cement association, Oficemen, and natural gas transmission company Enagás SA have signed an agreement to jointly explore decarbonisation technologies. Both organisation will collaborate in the analysis and potential development of infrastructure to transport H 2 , CO 2 and O 2 . Signed by Alan Svaiter, Oficemen president, and Arturo Gonzalo Aizpiri, CEO of Enagás, the two-year agreem...
Yamama Cement posts 7% YoY fall in revenue in 2023
Saudi Arabia's Yamama Cement Co has announced revenue of SAR935.19m (US$249.38m) for 2023, down 7.23 per cent on the SAR1008.1m seen in the previous year. Operational profit was down 17.93 per cent from SAR333.13m in 2022 to SAR263.55m in 2023. Net profit over the same period has declined 14.49 per cent from SAR355.79m to SAR304.25m. Profit per share also fell, down from SAR1.76 and SAR1....
Saurashtra Cement sees upturn in income
Saurashtra Cement has posted total income of INR4508m (US$54.34m) in the quarter ended 31 December 2023. This compares to INR3781m in the previous quarter and INR4465m in the same quarter a year earlier. Net profit in the December 2023 quarter came in at INR125m, up notably from the INR7.9m seen in the previous quarter and the INR28.5m loss recorded in the quarter ended 31 December 2022. ...
CIMAF lays foundation stone for Mali plant
CIMAF laid the foundation stone for its new Mali factory on 9 February 2024 in Natien, a commune located in the Sikasso region. The Minister of Industry and Trade, Moussa Alassane, was present at the ceremony. This new unit will have a production capacity of 1Mta of cement, expandable to 2Mta, and will It generate at least 300 direct jobs and 2000 indirect jobs. The completion date ha...
CRH completes Hunter plant and Texan ready-mix acquisitions
CRH has completed the US$2.1bn acquisition of Martin Marietta Materials Inc in Texas, USA. The deal was first announced on 21 November 2023 and the combined assets are expected to generate a pro-forma EBITDA of around US$170m for 2023. The acquisition includes the 2.1Mta Hunter cement plant, 20 ready-mix assets with a capacity of 1.6Mm 3 and a network of terminals along the Easter...
Saint-Gobain appoints new president of SGDB France
Effective from 1 April 2024, Olivier Mercadal will become president of Saint-Gobain Distribution Bâtiment France (SGDB France), reporting to Thierry Fournier, CEO France and CEO Southern Europe, Middle East, Africa Region for Saint-Gobain. Mr Mercadal succeeds Patrice Richard who has decided to retire after 29 years, including the last 14 years as head of construction material trading acti...
The Ramco Cements announces expansion plans
The Ramco Cements Ltd has announced plans to double capacity at its Kalavatala plant in Andhra Pradesh, India. According to The Hindu, the company intends to set up a second line to increase clinker capacity at the works to 6.3Mta and cement capacity to 3Mta. The expansion is expected to cost INR12,500m (US$150.57m). An additional 15MW waste heat recovery system (WHRS) will also be added. ...