Cement News tagged: Corporate

Gautam Adani injects US$799m into Ambuja

28 March 2024, Published under Cement News

Gautam 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...

UltraTech to buy stake in clean energy plant

28 March 2024, Published under Cement News

Indian 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 als...

Cemento Polpaico reports CLP4722.8m loss in 2023

28 March 2024, Published under Cement News

Chile-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....

Ecocem announces plans to expand production in The Netherlands

28 March 2024, Published under Cement News

Ecocem 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 ‘AC...

 A top official of Attock Group receives the highest civil award

A top official of Attock Group receives the highest civil award

28 March 2024, Published under Cement News

Attock 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 compan...

Saint-Gobain issues first double green bond

27 March 2024, Published under Cement News

Saint-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,...

CRH completes lime divestment deal in UK

CRH completes lime divestment deal in UK

27 March 2024, Published under Cement News

In 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 a...

Sublime Systems to build first commercial plant

27 March 2024, Published under Cement News

US-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. ...

Caribbean Cement's expansion underway

27 March 2024, Published under Cement News

Phase 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 progressi...

Fujairah Cement reports sales drop in 2023

27 March 2024, Published under Cement News

UAE-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 ...

Carbon Re appoints new CEO

27 March 2024, Published under Cement News

Carbon Re has appointed experienced entrepreneur Josh Vernon as its new CEO. Carbon Re is an industrial AI company that is focussed on decarbonising energy intensive industries such as cement, steel and glass. Josh Vernon has relocated from Sydney, Australia, to join Carbon Re in London. His most recent role was with Humanforce, Australia’s leading provider of HR/HCM tools to frontline work...

ASTM International welcomes Andrew G Kireta Jr as President

27 March 2024, Published under Cement News

ASTM International has appointed Andrew G Kireta Jr as the organisation’s new president, effective 1 May 2024. Kireta’s background in standards development and familiarity with the organisation uniquely positions him to lead ASTM International into future growth and innovation. He will succeed Katharine Morgan, who served in the role since 2017 and will retire after a distinguished 40-year car...

Brimstone secures US$189m to decarbonise cement industry

26 March 2024, Published under Cement News

Brimstone , the California-based building materials company that specialises in low-carbon cement production, has been awarded an investment of US$189m by the US Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED). The funding is to be used to finance the construction of a commercial-scale cement plant which incorporates Brimstone’s advanced decarbonisation technology.  ...

CEMEX sets the pace in 2023

27 March 2024, Published under Cement News

CEMEX has released its Integrated Report, entitled 'Setting the Pace', which outlines the company’s strategic vision, operational performance, and value creation in 2023. Last year saw CEMEX achieve record growth in EBITDA and make significant progress in its decarbonisation efforts, reducing Scope 1 and 2 CO 2 emissions by 13 and 12 per cent, respectively, since 2020. This comes as the com...

Pioneer Cement coal mix strategy impacting positively

25 March 2024, Published under Cement News

Pioneer Cement Ltd (PIOC), which had a market capitalisation of US$110m on 8 March, will see healthy growth in profit and dividend yields, according to AKD Research. This is based on the company's past performance and steps taken to improve margin. The research house believes that improved fuel mix results may increase profitability. PIOC has exceeded market expectations, with a drop in c...

Al Jouf Cement records 20% revenue advance

25 March 2024, Published under Cement News

Al Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 5...