Cement News tagged: Corporate
Misr Cement appoint new CEO and MD
Mr Hassan Gabry has been appointed the new CEO, managing director and member of the Board of Directors at Misr Cement Group , effective from February 2024. Mr Gabry brings over 30 years of distinguished professional experience in commercial operations and business functions, with a significant focus on the cement industry spanning approximately 20 years. He has held key leadership and exec...
Monarch Cement embarks on groundbreaking solar project
US-based Monarch Cement Co and Evergy Energy Solutions are collaborating on a groundbreaking solar project that is expected to serve as a model for the cement industry’s use of renewable energy. With the capacity to generate 20MW of clean electricity, the project is designed to offset a significant portion of Monarch’s energy consumption, reducing greenhouse gas emissions. The solar proj...
Orient Cement sees net profit jump 64% YoY
India's Orient Cement , part of the CK Birla Group , has reported revenue from operations of INR7513m (US$90.45m) in the quarter ended 31 December 2023 (3QFY23-24). This marks a 2.6 per cent increase on the INR7322.9m seen in the same period a year earlier. Over the same timeframe, consolidated net profit advanced to INR449.9m, up 63.5 per cent from the INR275.1m recorded in the 3QFY22-2...
Ciments de Bizerte reports 24% drop in revenue in 2023
Tunisia-based Ciments de Bizerte reported a 23.7 per cent decline in revenue to TND94.4m (US$30.14m) in 2023 when compared with the previous year, according to data from the Tunis Stock Exchange. Cement sales volumes were down 10 per cent YoY. Domestic turnover fell by 16.5 per cent YoY to TND93.9m with cement and lime sales of 4.978Mt. The fall in domestic demand was attributed to the rec...
Republic Cement teams up with fast food giant to tackle plastic waste
Republic Cement is working alongside fast food giant Jollibee Foods Corp (JFC) to reduce plastic packaging waste. Under the agreement, JFC will recover its post-consumer plastic packaging waste and rather than sending it to landfill, it will be sent to Republic Cement where it will be used as an alternative fuel. According to Philstar, the deal includes JFC’s wholly-owned brands in the Phili...
RAK White Cement posts AED20.5m profit in 2023
Ras Al Khaimah Co for White Cement and Construction Materials has reported a net profit of AED20.54m in 2023, down 2.6 per cent from AED21.08m in 2022. Sales increased 3.3 per cent to AED255.89m in 2023 from AED247.66m in 2022. Basic earnings per share remained unchanged at AED0.04/share at 31 December 2023.
Mannok's commitment to energy efficiency pays dividends
Ireland’s Mannok Cement has revealed that since 2017 it has saved 59mkWh of energy at its cement manufacturing facility through a multi-million-euro investment in energy-saving projects, while adhering to and retaining the energy management standard, ISO 50001. The saving is equivalent to the annual electrical energy usage of 14,047 Irish households, each consuming 4200kWh of electricity. ...
Kohat Cement Company completes BMR
Kohat Cement Company Ltd (KCCL) informed the Pakistan Stock Exchange (PSX) on 1 February that the Balancing, Modernisation and Replacement (BMR) (pyro-process optimisation) of the existing 6700tpd grey cement production line located at Kohat, Khyber Pakhtunkhwa (KPK), has successfully been completed. It will help the company to bring operational and cost efficiencies to the plant. A last qu...
Fauji Cement Co expected to post mixed financial results
According to AHL Research, Fauji Cement Co Ltd (FCCL) is scheduled to announce its financial result for 2QFY23-24 (October-December 2023) soon with an expected profit after tax of PKR2.347bn (US$8.39m) as compared to PKR2.764bn a year ago. This represents a fall of 15 per cent YoY. This will take the earnings for 1HFY23-24 (July-December 2023) to settle at PKR4.961bn compared to PKR5.079bn i...
Ciments du Maroc appoints new Director General
Severin Weig has been appointed Director General at Ciments du Maroc ( Heidelberg Materials Group ). Mr Weig is keen to get started on his new role at Ciments du Maroc and already has clear ideas on what needs to be achieved. "I am energised to work with a remarkable team in a captivating country," said Mr Weig. "Introducing evoBuild, our innovative suite of sustainable products, is at the ...
Nuvoco Vistas EBITDA up 55% in 3QFY24
India-based Nuvoco Vistas Corp Ltd has reported consolidated revenue of INR24,210m (US$291.8m) in the 3QFY23-24, ended 31 December 2023. Consolidated EBITDA over the same period came in at INR4210m, up 55 per cent YoY, while the consolidated cement sales volume for the quarter stood at 4.02Mt. The company has recently commissioned a 1.2Mta mill at its Haryana cement plant, taking the p...
Udaipur Cement Works reports strong income
Udaipur Cement Works Ltd has reported total income of INR3003.3m (US$36.17m) in the quarter ended 31 December 2023. This compares to INR2695.2m in the previous quarter and INR2385.1m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR8163.2m, up from the INR7374.2m seen in the same period a year earlier. Profit after tax in the D...
Breedon launches 2024 apprenticeship programme
Breedon Group plc (Breedon or the Group), a leading vertically-integrated construction materials group in Great Britain and Ireland, has announced the launch of its 2024 apprenticeship programme that will see 40 new apprentices join the group in September. The programme, which aims to equip participants with the skills and knowledge required to excel at a career in the building materials s...
Çimsa’s Mersin plant scoops Gold award
Çimsa ’s Mersin plant has been awarded the Gold level certificate by the International Concrete Sustainability Council. The award recognises the plant’s compliance with international norms in terms of its resource utilisation and sustainability under the headings of management, environment, economy and social issues. Çimsa (part of Sabancı Holding ) has become one of just three plants in t...
Eagle Materials reports record revenue in 3QFY23-24
US-based Eagle Materials has reported record revenue of US$558.8m in the third quarter of FY23-24 (3QFY24), ended 31 December 2023, marking a nine per cent increase YoY. The results come despite “a backdrop of shifting, albeit constructive, market conditions as interest rates moved materially lower during the latter half of the quarter,” said Michael Haack, president, Eagle Materials. Adjust...
Nuvoco sees 55% increase in 3Q EBITDA
Nuvoco Vistas Corp saw consolidated cement sales volume fall by 10 per cent YoY to 4Mt in the 3QFY23-24 (October-December 2023). The company also reported a seven per cent drop in revenue to INR24.21bn (US$291.6m). However, EBITDA expanded by 55 per cent YoY in the 3QFY23-24 to INR4.21bn, supported by improved price realisations and a decline in power and fuel costs. EBITDA/t of INR1048 wa...