Cement News tagged: Corporate
Chia Hsin Cement Corp sees sales advance YoY
Taiwan-based Chia Hsin Cement Corp has reported sales of TWD2911.6m (US$92.7m) for the full year 2023, marking an increase from TWD2253.7m in the previous year. Net income in 2023 came in at TWD81.1m, compared to a net loss of TWD180.8m in the year-ago period. Basic earnings per share from continuing operations stood at TWD0.12 in 2023m, up from a basic loss per share of TWD0.27 in 2022.
Cementir announces 2% drop in revenue in 2023
Cementir has announced that its 2023 group revenues from sales and services have dropped 1.7 per cent to EUR1694.2m (US$1852.02m) after a record year of EUR1723.1m in 2022. The slight fall in revenues has been attributed to a reduction in volumes sold and weak local currencies, against a moderate increase in prices. Cementir added, in their press release that, had exchange rates remained con...
ABB and Salt X extend collaboration for electrification of calcination process
ABB and Sweden-based green tech company Salt X have signed an agreement to enable further development of electric arc calcination (EAC). Under the new agreement, Salt X will further develop its innovative EAC technology, which makes it possible to reach several thousand degrees Celsius. The electric plasma solution reinvents industrial calcination and replaces fossil fuel-based heating with...
Fecto Cement's performance in increases 2% in 1HFY24
According to the recently-released Fecto Cement Ltd 1HFY23-24 report, clinker production increased by 2.4 per cent during the six months. It reached 342,673t, up from 334,597t in the same period last year. Cement production increased by 21.7 per cent to 384,229t, up from 315,836t in the 1HFY22-23. The company's total sales volume for the 1HFY23-24 increased by 22.8 per cent, reaching 38...
Misr Beni Suef Cement announces return to profitability in 2023
On 7 March 2024, Misr Beni Suef Cement Company SAE (MBSC) reported that it made a net profit of EGP369.102m (US$7.520m) after tax in 2023. This comes after they reported net losses of EGP145.945m in 2022. In 2022 the company reported sales of EGP1.844bn. Over the same period in 2023, MBSC’s sales grew to EGP2.023bn. The company’s return to profitability, following a year of net losses, c...
Maple Leaf Cement Factory diversifies into hospitals
Maple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) about its investment in the hospital business on 10 March. The bourse filing said that Novacare Hospitals (Pvt) Ltd, a wholly-owned subsidiary of the company, will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust,...
Hoffmann Green extends reach in western France
Hoffmann Green Cement Technologies has announced the signature of a commercial partnership with Groupe Tartarin, a company based in Vienne, western France, which manufactures a wide range of ready-to-use cements. Founded in 1923, Groupe Tartarin offers a wide range of ready-to-use cements to meet specific needs, from garages to garden sheds and industrial buildings. Based in the Vienne r...
Eastern Province Cement net profit up 39%
Saudi Arabia-based Eastern Province Cement Co reported a 38.5 per cent advance in net profit to SAR198m (US$52.8m) in 2023 when compared with SAR143m in 2022. The company’s sales increased 25.6 per cent YoY to SAR985m from SAR784m. Earnings per share reached SAR2.30 in 2023, up from SAR1.67 in the year-ago period.
Titan launches new company logo
Titan has unveiled its new logo, designed to embody “the group’s purpose to make the world around us a safe, sustainable, and enjoyable place to live and reflects its Green Growth strategy”. According to the company, with its globe-shaped emblem and new colour palette, Titan’s refreshed logo also stands for Titan’s international presence, promise to create value for all its stakeholders,...
Dandot Cement Co re-fired its kiln in December
According to the1HFY23-24 financial report of Dandot Cement Co Ltd r eleased recently, the company officially commenced operations by lighting up the kiln in December 2023 and is currently in the testing phase. Nevertheless, the net loss for the period is PKR124.81m (US$0.48m) (Dec 2022: PKR126.28m), as no production was reported during the period due to Balancing, Modernisation and Replaceme...
Hoffmann Green extends contract with Bouygues Immobilier
Hoffmann Green has announced a two-year extension of its partnership with Bouygues Immobilier, a key player in the French real estate development sector with a 70-year track record in the market. Signed in May 2022, the initial contract has been extended to 31 December 2025. According to Hoffmann Green, the renewal of its collaboration with Bouygues Immobilier reflects the success of the ...
José María Barroso to lead Canacem
José María Barroso Ramírez, CEO of Cemento Moctezuma , has been appointed as the new president of Mexico's cement association, Canacem, for 2024-25. He succeeds Jaime Hill Tinoco, CEO of Holcim México . Mr Barroso has more than 40 years of cement industry experience, having served previously as commercial director at Cemento Montezuma and more than 30 years at CEMEX . He graduated from the...
Oman Cement Co envisages a series of upgrade plans
Oman Cement ’s decision to set up a new cement plant at Duqm with a capacity of 5000tpd clinker remains under consideration. Simultaneously, the company is upgrading its capacity by debottlenecking and enhancing the existing Line 3 cooler from 4000 to 6500tpd at its existing Muscat plant, which will increase clinker quality and production capacity. In addition, the company decided to connect ...
Cementos Molins appoints new CEO
Cementos Molins has appointed Marcos Cela as the new CEO. He succeeds Julio Rodríguez, who has held the job for the last nine years. The change comes after Rodríguez’s request to resign from his duties as the company's chief executive officer, and will be effective as of end of June, following the Shareholders Annual General Meeting, when Mr Cela’s appointment is to be officially confirmed. ...
Breedon enters US with BMC Enterprises acquisition
Breedon Group has announced its acquisition of BMC Enterprises Inc (BMC) for US$300m, marking the group’s entry into the US. BMC is a supplier of ready-mixed concrete, aggregates and building products, headquartered in St Louis, Missouri. The deal gives Breedon the opportunity to launch a scalable third platform. "This transaction will give us a platform that is well-placed to grow in th...
Arabian Cement Company sees profits surge in 2023
Egypt's Arabian Cement Company has reported net sales of EGP5.93bn (US$119.67m) in the year ended 31 December 2023, up from EGP4.55bn in the same period in the previous year. Gross profit advanced from EGP904.85m in 2022 to EGP1.33bn the following year. Net profit for the year after tax improved from EGP342.5m to EGP688m over the same timeframe, while earnings per share increased from EGP...