Cement News tagged: Corporate
Polpaico suspends Quilicura grinding operations
Chile-based Cemento Polpaico will temporarily suspend operations at its grinding plant in Quilicura and transfer these to the Cerro Blanco plant in Til Til. The step is part of the company redistributing its production capacity nationwide due to corporate and operational restructuring, which is expected to be completed in the 1H24. The process will also seek greater logistical efficienci...
CEMEX supplies Vertua to Dubai tower
CEMEX is supplying its Vertua lower-carbon concrete for the Cavalli Tower, a 70-storey luxury residential building set to become a landmark in Dubai Marina. The tower will feature interior design by the Italian fashion designer Roberto Cavalli and architectural design by the award-winning architect Shaun Khila. CEMEX provided Vertua lower-carbon concrete with a carbon footprint approximately...
Saint-Gobain signs solar energy agreement
Saint-Gobain has signed a 14-year renewable electricity supply agreement with Alpiq Energie France. The contract covers the purchase of electricity generated by two solar farms located in Moselle, northeast France. Alpiq Energie France will supply over 500GWh of solar electricity to Saint-Gobain over the course of the agreement. As a result, 11 Saint-Gobain plants in France will use 100 per c...
Afrimat's acquisition of LSA gets Commission approval
South Africa’s Competition Commission has approved Afrimat’s acquisition of Lafarge SA , subject to a number of conditions. The deal, which is worth nearly ZAR1bn (US$54.59m), was found to raise a number of competition issues, according to the Commission, and would result in the lessening of competition in the aggregates and ready-mixed concrete sectors, reports Business Day. As a result, the...
Shree Cement reports YoY revenue growth
Shree Cement Ltd has reported standalone unaudited revenue of INR47,107.1m (US$566m) in the quarter ended 30 September 2023, down from INR51,607.8m in the previous quarter but up from the INR39,374.9m posted in the quarter ended 30 September 2022. Profit after tax in the September 2023 quarter came in at INR4913.3m, marking a decline from INR5811.2m in the previous quarter, and a significant...
Dandot Cement is still under BMR
For the quarter that ended 30 September 2023, Pakistan’s Dandot Cement Co Ltd incurred a loss of PKR69m (US$0.24m) as it remained under the modernisation phase and posted no revenue during the accounting period. No sales were reported. Dandot Cement Chairman, Muhammad Farooq Naseem, and CEO, Taha Muhammad Naseem, have optimistically reported that the company plans to come into production ...
Holcim sets out European ambitions
Holcim intends to drive profitable growth in Europe, reaching CHF10bn (US$11.1bn) in net sales and CHF1.6bn in EBIT by 2026 with increasing margins. According to the company, its ambition is to achieve annual organic growth of above four per cent in net sales and more than eight per cent in recurring EBIT to 2030 in Europe, while reducing CO 2 per net sales by 60 per cent compared to 2020. ...
Cementir posts group revenue of EUR1288.9m in 9M23
During the first nine months of 2023, Cementir Holding Group reports group revenue from sales and services reached EUR1288.9m, up 0.8 per cent compared to EUR1278.6m in the 9M22. The substantial stability in revenues derives from the combined effect of the increase in average sales prices, against the reduction in volumes sold, and the weakening of local currencies, with different dynamics i...
Deccan Cements sees revenue decline
India's Deccan Cements Ltd has reported total revenue of INR1709m (US$20.52m) in the quarter ended 30 September 2023, down from INR1952m in the previous quarter and INR1822m in the quarter ended 30 September 2022. Profit in the September 2023 quarter came in at INR47.2m, marking a significant drop from the INR141.4m posted in the previous quarter, and down from INR65.6m in the September 2...
Northern Region Cement awards EPC contract for new line
KHD Humboldt Wedag and AVIC have been awarded a major EPC contract for engineering, equipment supply, construction, commissioning and site services for a new 3500tpd production line for Northern Region Cement Co , Saudi Arabia. The plant will be located in Iraq and marks a total investment of around US$139m. KHD Humboldt Wedag will design and deliver the plant with the latest sustainabili...
JK Cement reports uptick in revenue
JK Cement Ltd has posted total revenue of INR25,984m (US$312.3m) in the three months ended 30 September 2023. This compares to INR21,584m in the same period a year earlier. Profit after tax for the September 2023 quarter came in at INR1789m, up from INR1257m in the same quarter in 2022. Basic and diluted earnings per share over the same period advanced from INR16.15 to INR23.16. Meanwhil...
Premier Cement Mills continues to report losses in FY22-23
Bangladesh cement producer Premier Cement Mills (PCM) announced its financial results for the Fy22-23, which ended 30 June 2023, a week before. It reported a loss after taxation of BDT842m (US$7.65m) against a deeper loss of BDT1.32bn incurred during the same period last year. The loss can be attributed to the high cost of raw materials during this period despite increased revenue. PCM’s ne...
UNTHA appoints global marketing director
Austria-based shredding technology specialist UNTHA has appointed a new global marketing director as part of its plans for significant growth over the next five years. Katie Mallinson has joined the EUR80m turnover company following almost 15 years working with the business as a supplier. Until recently, she was managing director of global communications firm Scriba PR, which she founded in 2...
Martin Marietta posts improved 3Q results
Martin Marietta Materials Inc posted total revenues of US$1994.1m in the 3Q23, up 10.1 per cent YoY from US$1811.7m. Gross profit improved 38.6 per cent YoY to US$676m in the 3Q23 from US$487.8m. Net earnings from continuing operations saw a 47.8 per cent YoY increase to US$430.3m from US$291.2m in the year-ago period while adjusted EBITDA improved 32.2 per cent YoY to US$705.2m from US$533....
Saudi Cement sees drop in 3Q profit
Saudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative exp...
SRM Group ventures into cement
India’s SRM Group has entered the cement business with the launch of a new subsidiary, SRMPR Cement. The Chennai-based company invested INR2250m in a 420,000tpa cement capacity with three production facilities in Tamil Nadu and one in Andhra Pradesh. It wil start exporting Portland pozzolana cement from 15 November to countries including the Maldives, Indonesia and Sri Lanka. SRMPR Cement f...