Cement News tagged: Corporate
Adani group acquires Orient Cement
Ambuja Cements , part of the Adani Group , has agreed to acquire Orient Cement Ltd at the equity value of INR81bn (US$963.4m). This binding agreement set Ambuja to acquire a 46.8 per cent stake in Orient Cement. This acquisition will add 16.6Mta capacity, accelerating Ambuja’s journey to an operational capacity of over 100Mta in FY24-25. The target capacity of the group is 140Mta by 2028. ...
UltraTech Cement reports a slight decrease in performance
UltraTech Cement Ltd has released their quarterly performance for the 2QFY25. Consolidated net sales was at INR153.08bn (US$1.82bn) compared to INR157.35bn in the same period a year previous, reflecting a 2.7 per cent decrease. EBITDA was at INR22.39bn, a 17.6 per cent decrease YOY from INR27.18bn. Profit after tax also saw a decrease, falling 35.9 per cent YoY from INR12.81bn to INR8.20b...
Heidelberg Materials Bangladesh reports loss in 3Q24
Heidelberg Materials Bangladesh posted sales of BDT2934.9m (US$24.5m) in the July-September 2024 quarter, down 19.6 per cent YoY from BDT3651.3m in the 3Q23. Operating profit fell by 71.5 per cent YoY to BDT17.3m from BDT60.7m over the same period. The company also reported a net loss of BDT7.96m in the 3Q24. The loss per share was BDT0.14, according to a disclosure on the Dhaka Stock Ex...
Starlinger sues Chinese equipment manufacturers for patent infringement
Vienna-based equipment manufacturer Starlinger & Co Gesellschaft mbH, which has production plants in Austria, Germany and China, sued Chinese machine manufacturers and their customers (packaging producers) based on infringement of several of Starlinger’s patents. The legal proceedings have been settled with strict obligations for the equipment manufacturers. “Only the best are copied, as the...
Yamama Cement posts 140% advance in 3Q net profit
Saudi Arabia-based Yamama Cement reported sales of SAR285.2m (US$76.1m) in the 3Q24, up 34.7 per cent from SAR211.7m in the 3Q23. The company’s net profit surged by approximately 140 per cent to SAR97.9m in the 3Q24 from SAR40.8m in the 3Q23, reported Reuters.
Attock Cement Pakistan sees 96% 1Q post-tax profit drop
As announced on 18 October, Attock Cement Pakistan Ltd (ACPL) reported a significant decline in profit for the 1QFY24-25. The company revealed a profit after tax of PKR62m (US$223,674), a dramatic drop from PKR1.544bn in the same period last year, marking a 96 per cent YoY decrease. This decline is attributed partly to the gain from selling its subsidiary, Saqr Al Keetan, in the 1QFY23-24. H...
ADOCEM signs training and research agreement with BARNA
The Dominican Association of Portland Cement Producers, ADOCEM, and the BARNA High Management School have signed a collaboration agreement to strengthen the link between the cement industry and academic training. The agreement, signed by the president of ADOCEM, Giuseppe Maniscalco, and the rector of BARNA, Paulo Alves, establishes a series of joint initiatives that include the realisation o...
Mbeya Cement announce US$320m expansion
The Tanzanian government has signed an agreement with the Amsons Group to invest US$320m for the expansion of the Mbeya Cement plant and the construction of a new cement plant in Tanga. Amsons Group’s Director of Finance, Ahmed Mhada, disclosed that the construction of the Mbeya Plant Two will cost US$130m, while the new Tanga plant will require US$190m. The expansion of the Mbeya Cement ...
DG Khan Cement posts a profit after tax of PKR804m in 1QFY24-25
DG Khan Cement announced its financial results on the Pakistan Stock Exchange (PSX) website on 17 October, reporting a profit after tax of PKR804m (US$2.89m) in the 1QFY24-25. This marks a 21.6 per cent increase from a profit of PKR661m in the equivalent period of the previous financial year, which followed a loss after tax of PKR1.692bn in the 1QFY22-23. A preliminary analysis indicates tha...
Cherat Cement Co appoints Azam Faruque as CEO
Cherat Cement Co Ltd has announced key executive appointments following its recent board elections. According to information from the Pakistan Stock Exchange (PSX), Omar Faruque has been re-appointed as chairman, while Azam Faruque will continue as chief executive officer. Both executives have been re-elected for a three-year term, starting on 16 October 2024. The appointment of Omar Far...
Korcem clinker line is ignited
Sinoma (Liyang) Heavy Machinery has successfully ignited the 3500tpd (1.15Mta) clinker production line of the Korcem project in Kazakhstan. Sinoma (Liyang) Heavy Machinery carried out the project on an EPC basis. The new line project in Korday was begun at the end of 2021 and featured some delays. It will now be optimised to have a full cement capacity of 1.5Mta.
Lucky Cement announces new leadership
On 13 October, Lucky Cement 's Company Secretary, Ali Shanab, informed the Pakistan Stock Exchange (PSX) that the board of directors has appointed Mr Muhammad Sohail Tabba as the chairman of the board. Additionally, Mr Muhammad Ali Tabba has been appointed as the chief executive of the company, both of these appointments will be for a term of three years. Mr Muhammad Sohail Tabba is one...
Buzzi completes sale of Ukraine operations to CRH
Following the approval received from the local antitrust authority on 5 September 2024, Buzzi has completed the closing of the sale of its assets in Ukraine to CRH, which was signed on 20 June 2023. The sale price amounts to EUR0.1bn. In Ukraine, Buzzi has been operating two fully-integrated cement plants and two cement distribution terminals, in addition to ready-mix concrete plants in...
Heidelberg Materials increases share ownership of Asment de Témara
Heidelberg Materials is strengthening its footprint in the Moroccan cement market by increasing its share ownership of Asment de Témara to 63 per cent and acquiring 100 per cent of Grabemaro, a supplier of aggregates, according to a recent press release. Dr Dominic von Achten, chairman of Heidelberg Materials, noted the significance of the expansion. “Our latest investment marks an import...
Fauji Cement exports to Afghanistan likely to increase in FY25
The management of Fauji Cement Co Ltd (FCCL) held an analyst briefing session on 9th October 2024 to discuss the company’s performance and future outlook. FCCL reported strong results for FY24, driven by significant cement and solar expansion investments. The company posted earnings of PKR8223m (US$29.6m) compared to PKR7440m in the previous period, a jump of 11 per cent YoY. In FY24, volum...
Dyckerhoff Polska to modernise Nowiny cement plant
Dyckerhoff Polska has received support from the Starachowice Economic Zone for a major green investment at the Nowiny cement plant . With an investment of over PLN200m (US$50.78m) the company will modernise its technological line, maintaining high production levels while reducing CO 2 emissions. The plant in southern Poland has a current cement capcity of 1.6Mta.