Cement News tagged: Corporate

JK Cement begins clinker production at Panna site

05 December 2022, Published under Cement News

JK Cement commenced clinker production at its new site in Panna , Madhya Pradesh, India on 3 December 2022. The new facility has a production capacity of 2.64Mta.

INSEE Vietnam begins construction on new mill

05 December 2022, Published under Cement News

INSEE Vietnam , a subsidiary of Thailand’s Siam City Cement Public Company Ltd (SCCC), has begun construction of its Thi Vai grinding mill No2. The new mill, which marks an investment of over US$35m, will help meet rising cement demand in the Southeast region, according to Vietnam News.

UltraTech Cement commissions 3.6Mta of new grinding capacity

05 December 2022, Published under Cement News

UltraTech Cement Co has announced the commissioning of its 3.6Mta of new grinding capacity in India. Firstly, the 1.8Mta greenfield grinding capacity at the Dhule Grinding Unit , Maharashtra has been commissioned. Secondly, the commissioning of the 1.8Mta brownfield, clinker backed, second line grinding capacity at Dhar Cement Works , Madhya Pradesh, has been completed.   This forms pa...

Dongwu Cement chief investment officer resigns

05 December 2022, Published under Cement News

Mr Chen Xuanlin has resigned as non-executive director and chief investment officer of Dongwu Cement International, effective from 2 December 2022. According to the company, Mr Chen is leaving to “pursue his career development and concentrate on his own business engagement.”  “Mr Chen has confirmed that he has no disagreement with the Board and there are no matters with respect to his res...

 Adani Group to refinance Ambuja Cements and ACC bridging loans

Adani Group to refinance Ambuja Cements and ACC bridging loans

02 December 2022, Published under Cement News

The Adani Group is reported to be in talks with several foreign banks to refinance US$3.5bn of bridging loans taken for the acquisition of Ambuja Cements Ltd and ACC Ltd this year. The loans were taken by the Mauritius-based promoter entity Endeavour Trade and Investment, a special-purpose vehicle that acquired Ambuja Cements' stake from Swiss cement major Holcim in an all-cash tra...

Cachupaz wins process control order for Tekcim cement plant

01 December 2022, Published under Cement News

To automate NovaCim's greenfield Tekcim cement plant in Morocco, Cachapuz Bilanci Group’s SLV Cement technology will be installed.   Besides having powerful operational analysis tools, SLV Cement allows the monitoring and control of operations, the plant performance and the level of service provided. This will enable NovaCim to optimise and automate the logistics flows of incoming raw mate...

Eagle Cement delists from Philippine Stock Exchange

Eagle Cement delists from Philippine Stock Exchange

01 December 2022, Published under Cement News

Eagle Cement Corporation has gained the approval of its shareholders to delist from the Philippine Stock Exchange (PSE). According to the company, not one shareholder voted against the proposal. “Therefore, as stated in the Definitive Information Statement distributed in relation to such request for stockholders’ approval via written assent, the voluntary delisting of the corporation fro...

Akcansa Cimento appoints new general manager

02 December 2022, Published under Cement News

Akçansa Cimento , a joint venture between Sabancı Holding and Heidelberg Materials , has appointed Vecih Yılmaz as its new general manager. Mr Yılmaz replaces Mehmet Zeki Kanadikirik, effective from 1 December 2022.  “As of today, we are experiencing a change of flag at Akçansa, which sets a model for its industry, inspires its stakeholders and puts the bright future of our country ahead ...

Attock Cement's new line to start at end of FY23

02 December 2022, Published under Cement News

The management of Attock Cement Pakistan Ltd (ACPL) has announced that its new 4000tpd (1.2Mta) line will come online by the end of FY22-23. Top managed disclosed this at an analyst briefing held to discuss the recent financial performance and give an outlook of the company in the future, according to a report of AHL Research.  The total expansion cost at Balochistan is estimated to be ov...

Bestway Cement's post expansion capacity will stand at 15.2Mta

30 November 2022, Published under Cement News

The top management of Bestway Cement Ltd organised a corporate briefing earlier this month to discuss the company's 1QFY22-23 results and outlook. The company's CFO, Muhammad Amir Khan, and Head of Budgeting, Treasury and Reporting, Muhammad Danish Khan, of Bestway Cement Ltd announced that the start of commercial operation of 7200tpd clinker line at the  Minawali location is expected in...

Empresas Melón to close Peñalolén plant

30 November 2022, Published under Cement News

Chile-based Empresas Melón has announced the closure of its ready-mix concrete plant in Peñalolén, near Santiago. The company, owned by the Brescia group, attributes the closure to the downturn in the construction market. “Mélon is adjusting its operations in metropolitan areas to adapt to the new market conditions forecast for 2023, particularly in the construction sector,” the company said...

Bamburi Cement forecast to see 25% drop in earnings

29 November 2022, Published under Cement News

Bamburi Cement is expected to post net earnings for FY2022 down by at least 25 per cent compared to FY21, according to Reuters News. The loss in earnings is being attributed to slowing demand for cement, rising energy costs and increasing raw material costs.

PIBT reports volumes down in 1QFY22-23

29 November 2022, Published under Cement News

Pakistan International Bulk Terminal Ltd (PIBT) reported cargo volumes down to 2.133Mt in the 1QFY22-23 (ended 30 September 2022) compared to 2.782Mt reported in the same period of the previous financial year. The trend is in line with industry demand for imported coal. However, the terminal’s net revenue increased by 1.3 per cent YoY to PKR3.461bn in the 1QFY22-23 from PKR3.138bn. A loss of...

US$8m cement distribution centre planned for Montego Bay

28 November 2022, Published under Cement News

Plans to establish a new US$8m cement distribution centre in Montego Bay, Jamaica, have been put forward by cement importers Buying House Cement. For the last 16 years, Montego Bay company Buying House Cement has been importing cement to meet 10 per cent demand from the Domicem cement plant in the Dominican Republic. Businessman Mark Hart is the chairman of Cargo House Handlers, a public...

Breedon on track to deliver record earnings

25 November 2022, Published under Cement News

Breedon Group reported that trading conditions remained supportive in the second half, enabling the company to fully recover rising input costs through robust pricing and disciplined cost management. In the four months to October 2022 group revenue expanded by 16 per cent YoY, resulting in a revenue of GBP1186m in the year to date, up 14 per cent YoY and 12 per cent on a like-for-like basis....

Malayan Cement reports 98% rise in revenue

25 November 2022, Published under Cement News

Malayan Cement Berhad , part of YTL Cement Berhad , has reported revenue of MYR2.71bn (US$605.6m) in FY2022, up 98 per cent on the previous year. Net income has come in at MYR83.5m, compared to MYR76.2m in FY2021. Profit margin over the same period has advanced from 0.5 per cent to 3.1 per cent, driven by the higher revenue. Earnings per share improved from MYR0.009 in FY2021 to MYR0.068 in ...