Cement News tagged: Corporate
Thailand-based Ratanarak Group buys out Jardine Cycle and Carriage’s Siam City Cement stake for US$354m
The Ratanarak Group has increased its stake in Siam City Cement to 71.88 per cent by buying out Singapore-based Jardine Cycle and Carriage’s 25.54 per cent stake. The value of the transaction, carried out via Ratanarak’s subsidiary Sunrise Equity, is THB12.18bn (US$353.97m).
Sri Lanka's Tokyo Cement Group to raise its capacity to 4Mta
Sri Lanka-based Tokyo Cement ’s management hopes to complete the ongoing factory expansion project later this year, increasing overall cement production capacity from 3.1Mta to 4Mta. The new capacity will come online in the second half of this year. The project is expected to place Tokyo Cement in an advantageous position to capitalise on the industry revival as the economy rebounds. The ...
Lucky Cement to enter the gold and copper mining business
Lucky Cement Ltd is actively pursuing diversification through National Resource Ltd (NRL), which will pursue Pakistan’s copper and gold mining business. Top officials at Lucky Cement recently held a corporate briefing session to discuss the operational and financial performance for FY23-24. They stated that a pre-feasibility study is being conducted, and at least 2-3 years will be needed to ...
Bestway Cement posts 6% rise in FY23-24 sales
Chairman of Bestway Cement Ltd , Sir Mohammed Anwar Pervez, stated that despite all the challenges, Bestway increased its market share in Pakistan and achieved a growth of six per cent in sales volumes, outperforming the industry growth of 1.6 per cent. The main factor behind the development was attributed to the company's two new production lines at Hattar and Mianwali, which became operatio...
Yamama Saudi Cement posts 13% rise in 2Q revenue
Yamama Saudi Cement Co reported a 13 per cent increase in revenue to SAR243.7m (US$65m) in the second quarter of 2024. The company's net profit declined by 14 per cent YoY to SAR84.6m in the 2Q24 while the profit margin was rolled back to 35 per cent from 46 per cent in the equivalent period of the previous year as higher expenses affected profit. Earnings per share decreased from SAR0.4...
Grupo Argos reports weak results for 2Q24
Grupo Argos, the Colombia-based conglomerate which owns Cementos Argos , has reported a 40 per cent drop in its 2Q24 income, falling to COP189bn (US$47m) from COP315bn in the 2Q23. In a recent presentation, Argos attributed this drop in income to a 90 per cent fall in proceeds from concessions and a nearly 25 per cent decline in income from its cement business. The group’s revenues f...
UltraTech chairman outlines company's growth
UltraTech 's Chairman, Kumar Mangalam Birla, summarised the progress of the company and its plans for future growth and development, at the company's 24th AGM. In April 2024 UltraTech marked a historic milestone of 150Mta + production capacity. This capacity surpasses 150 per cent of the capacity in the USA and constitutes 80 per cent of Europe's capacity. “With the completion of t...
Votorantim shows strong regional performance in Europe, Asia and Africa
Votorantim Cimentos reports positive results in the 2Q24 for its operations particularly in Europe, Asia and Africa but also in North America. In Brazil Votorantim Cimentos’ net revenue in the 2Q24 was BRL3.2bn (US$583.1m), flat compared to the same period in 2023. Adjusted EBITDA reached BRL566m in 2Q24, stable compared to the 2Q23, due to a positive trend in new businesses and an improve...
Votorantim Cimentos reports net revenue of BRL7bn in the 2Q24
Votorantim Cimentos ended the 2Q24 with a higher net revenue from increased volumes, supported by geographic and product diversification. The company recorded global net revenue of BRL7bn (US$1.27bn) in the 2Q24, a one per cent increase compared to the same period last year, excluding the effect of exchange rate variation. This result is mainly due to the positive performance of operations i...
Southeast Cement sees 2Q net profit down 11%
Taiwan-based Southeast Cement Corp has posted a revenue of TWD604.62m in the second quarter of 2024, ended 30 June. This represents a 1.7 per cent decrease from TWD615.383m in the 2Q23, according to the Taiwan Stock Exchange. However, pretax profit was up 3.7 per cent to TWD82.59m in the 2Q24 from TWD79.67m in the 2Q23. Net profit declined by 11.4 per cent YoY to TWD59.306m from TWD66.944m...
Alpacem launches EUR50m Wietersdorf modernisation project
Alpacem has announced a EUR50m plant modernisation project at its Wietersdorf cement plant in Austria. The project includes a new grinding plant that could save up to 21,000tpa of CO 2 and reduce electricity consumption. The project is scheduled for completion by 2027. Alongside the modernisation, the company plans to construct a new cement silo plant in the Görtschitztal valley, which...
Yura to install Line 3 AF handling equipment
Cemento Yura SA , part of the Gloria Group , plans to install a new system for the reception, storage, dosage and transportation of alternative fuels for the third kiln line at its Arequipa plant. The PEN2,494,514 (US$665,980) project will see the installation of a 2000m 2 storage platform at floor level, a reception hopper with guillotine gate, a blower of 1200m 3 /h, 24m of steel pipi...
Qatar National Cement sees 16% drop in 1H revenue
Qatar National Cement Co (QNCC) posted revenues of QAR197.597m (US$54.3m) in the six months ended 30 June 2024, down 15.5 per cent from QAR233.779m in the 1H23. Gross profit came in at QAR64.286m, representing a decline of 22.5 per cent from QAR82.902m while profit for the period fell 18.6 per cent YoY to QAR82.473m from QAR101.273m.
Binmaster moves into new offices, warehouse and manufacturing facility
A tornado decimated Binmaster’s 10,684m 2 (115,000ft 2 ) plant and offices in less than 20s on 26 April 2024. However, Binmaster was back to assembling level sensors and wireless devices at a new plant location within just three weeks. In mid-July, BinMaster moved into its new offices on Transformation Drive at the Innovation Campus at the University of Lincoln, USA. The new plant is only...
New 10Mta Nigerian plant set for 2025 start-up
Nigeria-based Residence Cement Co plans to establish a cement factory in the Gwana district of Alkaleri Local Government Area of the state in the first quarter of next year. Gwana State Governor, Bala Abdulkadir Mohammed, disclosed that Residence Cement Factory has resolved to invest US$1.5bn in establishing the Gwana cement factory, which would commence in the first quarter 2025. Initial rep...
Cementir acquires additional 25.4% stake in Sinai White Portland Cement
Cementir Holding NV announced that its fully-owned subsidiary Aalborg Portland Holding A/S has acquired an additional 25.4 per cent stake in Sinai White Portland Cement Co SAE (SWCC) from Sinai Cement Co, part of the Vicat Group . Following the EUR30m transaction, Cementir will indirectly hold 96.5 per cent of SWCC’s share capital. The investment strengthens Cementir’s strategic prese...