Cement News tagged: Corporate
Imerys sells Calderys
French refractory supplier Calderys has become an independent company encompassing the full scope of the high temperature solutions (HTS) business area formerly under Imerys. The new company is owned by US-based Platinum Equity (PE) following the successful completion of regulatory approvals and customary closing conditions. Calderys operates a global network of experts and 36 industrial sites...
West China Cement Ltd: new appointments
Dr Ma Weiping has resigned as executive director and chief executive officer of West China Cement Ltd , effective from 2 February 2023. According to the company, Dr Ma has chosen to leave “to devote more time to his other personal endeavours”. The board thanks Dr Ma for his valuable contributions to the company during his time at West China Cement Ltd. Effective immediately, Cao Jianshun ...
PCA add new Board member
Simon Bates, CEO of Argos USA, is the newest member of Portland Cement Association’s (PCA) Board of Directors. Simon took the reins at Argos USA late last year, bringing to the position 33 years of industry experience. He has said that his primary goal is to promote housing and infrastructure projects that allow for more sustainable, prosperous and inclusive societies in the US, which is a goa...
Dangote announces new 6Mta Nigerian plant
Dangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own capti...
ACC Ltd posts 14% rise in revenue
ACC Ltd has reported a 14 per cent increase in revenue to INR45,370m (US$554.7m) in the quarter ended 31 December 2022, up from INR42,260m in the same period a year earlier. EBITDA over the same timeframe fell from INR6100m to INR4190m, while the EBITDA margin declined from 14.7 to 9.4 per cent. Sales volumes over the three-month period stood at 7.7Mt of cement and clinker, on a par with ...
GCC reports 7% EBITDA increase in 2022
Grupo Cementos de Chihuahua (GCC) reported net sales of US$289.7m in the October-December 2022 period, representing an increase of 12.3 per cent when compared with the 4Q21, according to the company’s filing to the Mexican stock exchange, BMV. It also posted EBITDA of US$91.3m in 4Q22, up 12.7 per cent YoY. Net profit increased by 70.4 per cent to US$51.3m in the 4Q22 when compared with the...
Udaipur Cement Works reports revenue growth
India’s Udaipur Cement Works Ltd has announced unaudited revenue from operations of INR2381.7m (US$29.13m) in the quarter ended 31 December 2022. This compares to INR2200.5m in the previous quarter and INR2077.6m in the same period a year earlier. Net profit after tax in the quarter ended 31 December 2022 stood at INR32.2m, versus INR21.8m in the previous quarter and INR53.9m in the same ...
Orient Cement sees revenue improve
India-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier. Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m ...
WCA appoints new directors
The World Cement Association (WCA) has appointed three new Directors: Fabien Charbonnel, CEO of Cem’In’Eu , Xu Gang, chairman of the Board of Maweni Limestone, VP and head of Overseas Area of Huaxin Cement Co Ltd , parent company of Maweni Limestone , and Kevin Lunney, COO of Mannok Holdings DAC. The appointments were agreed in a unanimous vote at the WCA General Assembly Meeting, which t...
Coolbrook appoints SVP of Communications
Technology and engineering company Coolbrook Oy has announced the appointment of Jenni Schumacher to the position of SVP of Communications. Ms Schumacher has most recently led external communications at international renewable fuels company Neste and prior to that held communications roles at global stainless steel producer Outokumpu and Microsoft. At Coolbrook Ms Schumacher’s experienc...
Lucky Cement increases profit by 23% in 1HFY21-22
Pakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21...
UltraTech Cement to acquire majority share in Duqm Cement Project
UltraTech Cement Middle East Investments Ltd, (UCMEIL) a wholly owned subsidiary of the company in UAE, has released a statement signifying that it has entered into a share sale and purchase agreement with Seven Seas Company LLC, Oman, for acquisition of 70 per cent equity shares in Duqm Cement Project International, LLC, Oman.
Clinker unloading at Polpaico’s Mejillones terminal suspended
Clinker unloading at Cemento Polpaico ’s Mejillones terminal in northern Chile will remain suspended at least until 1 August 2023 as Terminal Mejillones SA carries out repairs to the facilities, which were affected by a fire on 1 October 2022. The cement producer said it would be adopting a series of measures to minimise the impact of the suspension.
Adani Group shares tumble amidst fraud claims
Gautam Adani, owner of the Adani Group , saw his fortune fall by US$20bn on Friday last week after investors withdrew from his companies amidst fraud claims made by a US investment firm. Hindenburg Research published a report accusing the Adani Group of decades of stock manipulation and accounting fraud, according to the BBC. The report was released ahead of a planned share sale for Adani ...
Les Ciments de Bizerte reports 5% revenue drop in 2022
Revenues of Tunisia-based Les Ciments de Bizerte saw a five per cent decline to TND123.8m (US$40.1m) in 2022 from TND130.8m in 2021. Domestic revenues edged up by 1.6 per cent YoY to TND112.4m in 2022, but exports were down 43.5 per cent YoY to TND11.4m from TND20.2m. Clinker production fell 24.2 per cent to 538,150t and 553,883t of cement. The drop in output was attributed to disruption...
Adbri appoints new deputy chair and lead independent director
Adbri Ltd has announced that its current independent non-executive director, Samantha Hogg, has been appointed deputy chair and lead independent director following the resignation of Dr Vanessa Guthrie AO. Ms Hogg’s appointment will be effective on 1 March 2023. Dr Guthrie AO is stepping down from the Adbri Board on 28 February 2023 to focus on other board commitments. Ms Hogg joined the A...