Cement News tagged: Corporate

UltraTech Cement eyes up Kesoram Industries

28 November 2023, Published under Cement News

UltraTech Cement has reportedly expressed an interest in acquiring Kesoram Industries and is already carrying out due diligence on the company. According to CNBC, UltraTech is exploring two options: buying out the existing promoter or just acquiring the cement business of Kesoram. Kesoram currently operates in two markets, cement and rayon, with a cement production capacity of close to 10M...

Loesche GmbH acquires hydraulic company

27 November 2023, Published under Cement News

Loesche GmbH has successfully acquired the valuable know-how of the renowned company RuhfusSystemhydraulik. In the past, Ruhfus was a reliable supplier of high-quality hydraulic solutions and a valued, long-standing business partner of Loesche. Ruhfus Systemhydraulik, a developer of hydraulic systems and components, was forced to file for insolvency due to economic challenges. Loesche regrets...

Gharibwal Cement vows to continue the BMR project

27 November 2023, Published under Cement News

Gharibwal Cement Ltd in Pakistan has arranged a corporate briefing session on the FY22-23 and 1QFY23-24. To recall, the company posted a profit after tax of PKR1.232bn (US$4.311m) in FY22-23 vis-à-vis PKR1.355bn in FY21-22. BMR Projects – existing line Top officials outlined the company's balancing, modernisation and replacement (BMR) programme at its 2.11Mta plant in Jehlum, Punjab. A 10MW...

Domicem inaugurates second line

24 November 2023, Published under Cement News

Domicem inaugurates the second production line at its Sabana Grande de Palenque plant in San Cristóbal, Dominican Republic. The new line will increase the plant's production capacity to 3Mta as well as enable the country to be self-sufficient in terms of clinker production. The new line includes new crushing facilities, raw materials warehouse, Loesche vertical mill, five-stage precalcining...

Lucky Cement completes the biggest of its kind buyback of shares

Lucky Cement completes the biggest of its kind buyback of shares

24 November 2023, Published under Cement News

Lucky Cement informed the Pakistan Stock Exchange (PSX) earlier this week that the company wants to announce the closure of the purchase period about the buyback of shares by the company, as approved by the members of Lucky Cement Ltd (the “Company”) in the Extraordinary General Meeting held on 24 May 2023. During the purchase period, the company purchased an aggregate of 20,375,000 ordinary...

Sarbottam Cement issues IPOs in Nepali first

24 November 2023, Published under Cement News

Sarbottam Cement has become the first Nepali company to float its initial public offerings (IPOs) at the book building price. According to myRepublica, the cement producer has opened its IPOs for institutional investors with a deadline of 26 November 2023, imposing a cut-off price of NPR401/unit (US$3.00/unit) and a ceiling price of NPR601.50/unit. The Securities Board of Nepal (Sebon) ha...

CEMEX supplies Vertua to Puerto Vallarta airport

CEMEX supplies Vertua to Puerto Vallarta airport

24 November 2023, Published under Cement News

CEMEX is supplying its Vertua lower-carbon concrete for the construction of Terminal 2 at Puerto Vallarta’s International Airport, Mexico, which aims to be one of the most sustainable terminal buildings in Latin America. The 68,000m 2 new terminal is planning to be one of the most efficient in terms of sustainability, with the aim of obtaining LEED certification and minimising the carbon em...

CRH sells lime business to SigmaRoc

23 November 2023, Published under Cement News

CRH plc has agreed to divest its lime operations in Europe to SigmaRoc plc for a total consideration of approximately US$1.1bn. The lime business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, Czech Republic and Poland. The combined business generated sales of around US$610m and EBITDA of roughly US$137m in 2022. The transaction, which is ...

South Valley Cement sees revenue fall in 9M23

23 November 2023, Published under Cement News

South Valley Cement Co has reported revenue of EGP592.5m (US$19.15m) in the first nine months of 2023, down from EGP614.09m in the same period a year earlier. Net losses after tax fell from EGP83.81m in the 9M22 to EGP63.10m in the 9M23, reports Zawya. The loss per share came in at EGP0.13 in the opening nine months of 2023, a YoY decrease from EGP0.17.  Revenue in the third quarter of 2...

CEMEX Ventures invests in digital solution

23 November 2023, Published under Cement News

CEMEX Ventures, CEMEX's corporate venture capital (CVC) and open innovation unit, has announced its investment in Vizcab, a French start-up whose digital platform enables different developers and architecture, engineering and construction (AEC) stakeholders to assess and work towards reducing CO 2 emissions across the construction value chain.     Assessing and working towards lower embo...

Aggregate Industries appoints group strategy and commercial growth director

23 November 2023, Published under Cement News

Aggregate Industries , part of Holcim , has appointed Kaziwe Kaulule as its new group strategy and commercial growth director. With a career spanning over 19 years with the Holcim Group, Mr Kaulule brings extensive experience to the role, including operations, digital transformation, business development, and mergers and acquisitions. His most recent role was as chief executive officer (C...

Breedon posts 8% growth YoY in 10M23

23 November 2023, Published under Cement News

Breedon Group has reported eight per cent growth in revenue YoY in the first 10 months of 2023, driven by robust pricing and operational excellence, that more than offset the effect of moderating volumes. According to the company, changes to building regulations in the UK that came in in June, impacted ready-mixed concrete (RMC) volumes, while aggregate and asphalt volumes have continued to ...

CRH reaches agreement on Martin Marietta acquisition

22 November 2023, Published under Cement News

CRH has reached an agreement to acquire a portfolio of cement and ready-mixed concrete (RMC) assets in Texas, USA, from Martin Marietta Materials for a total consideration of US$2.1bn. According to CRH, the combined portfolio of assets is expected to generate pro-forma 2023 EBITDA of approximately US$170m. The assets include the 2.1Mta Hunter cement plant located between San Antonio and...

Oman Cement’s profits swell

22 November 2023, Published under Cement News

In the first nine months of 2023, Oman Cement Co (SAOG) ( Hauxin Cement Group ) earned profit after tax of OMR7.355m (US$19.1m), compared to OMR4.638m in the corresponding period of the previous year, marking growth of 59 per cent YoY. According to the company, it has continued its efforts to overcome the adverse impact of the rise in prices of some major cost elements, and extensive efforts...

CEMEX Espana to consider next step after EUR456 tax fine

24 November 2023, Published under Cement News

CEMEX has announced that its subsidiary, CEMEX España, will pay approximately EUR456m in fines as a result of a tax audit in Spain that commenced in July 2011 and covered the years 2006-09. According to a company press release, the tax authorities questioned some of the tax losses that Cemex España reported during those years. These losses were not used by Cemex España and have not been sh...

Suitors line up for Vadraj Cement

22 November 2023, Published under Cement News

JSW Cement , the Adani Group , and the ArcelorMittal Group are among the entities expressing an interest in acquiring India’s Vadraj Cement , according to Construction World. Vadraj Cement, which is owned by the ABG Shipyard group, is being sold under the Insolvency and Bankruptcy Code (IBC) process. After the cement company was sued by trade creditor Beumer Technology India in August 2...