Cement News tagged: Corporate
Fitch B+ rating for United Cement Group
Fitch Ratings has awarded a B+ rating to United Cement Group (UCG) . The positive outlook by the rating agency is due UCG’s large-scale modernisation as well as with an increase in profitability. The recent acquisition of construction glass producer Kvarts by UCG is also expected to lead to ongoing improvements in product diversifiaction and strengthening of financial stability. Moreover, the...
Kayasand receives NZD3.5m investment boost
Kayasand, a New Zealand distributor of sand manufacturing technology, is working to produce more sustainable concrete with up to 20 per cent less carbon emissions. To help achieve its aims, it has received NZD3.5m (US$2.1m) from New Zealand Green Investment Finance and NZD1.8m from private investors. The company’s technology removes water and sand mining from the concrete equation, accordi...
LafargeHolcim Maroc posts 3% advance in 1Q revenue
Holcim-owned LafargeHolcim Maroc has reported a three per cent uptick in revenues to MAD2131m (US$209.2m) in the first quarter of 2023 from MAD2077m in the year-ago period. Morocco’s cement demand declined by 5.3 per cent to 3.248Mt in the January-March 2023 period when compared with the first three months of 2022, when consumption reached 3.248Mt. The company’s debts fell by five per ce...
Cement Australia extends use of battery electric vehicles
Cement Australia has been granted funding to lease 24 batteries and convert six diesel prime movers in its Melbourne fleet to electric drivetrain. Backed by the Commercial Sector Innovation Fund, Cement Australia will also install swap-out charging infrastructure with a minimum of three charging units, according to Prime Mover Magazine. The company will complete a trial/demonstration stage ...
Ciments du Maroc 1Q turnover slips 4%
Ciments du Maroc , part of Heidelberg Materials , posted an unaudited turnover of MAD917.8m in the 1Q2023, down four per cent YoY from MAD955m in the 1Q22. Cement consumption in Morocco saw a 5.3 per cent drop in the January-March 2023 quarter when compared to the year-ago period. The company’s investments in the first quarter of 2023 increased one per cent YoY to MAD47.3m. Financial debt...
Fortera joins Alliance for Low Carbon Cement and Concrete
Cement decarbonisation company Fortera has joined the Alliance for Low Carbon Cement and Concrete (ALCCC). The ALCCC was created to support the decarbonisation of the cement and concrete sectors with its members representing mature materials designers and producers, and start-ups working in biotechnology, carbon capture, materials technology, and sustainable construction. “Climate action...
Oman Cement appoints Zhu Yaping as new CEO
Oman Cement Co ’s board of directors has approved the appointment of Zhu Yaping as the company’s new CEO with immediate effect. He succeeds Salim Abdullah al Hajri, who retired as CEO of the company. Mr Yaping is a senior executive from Oman Cement’s majority shareholder Huaxin Cement Co, which completed the acquisition of a majority 59.58 per cent stake in Oman Cement. Mr Yaping is a hig...
Novoco Vistas opens new RMC plant in Vizag
Novoco Vistas Corp Ltd has launched a new ready-mixed concrete (RMC) plant in Vizag, Andhra Pradesh, India. With a production capacity of 60m 3 /h, the plant will serve construction projects in the area. According to the company, Vizag is a rapidly developing city with a number of key infrastructure projects, including the Greenfield Airport at Bhogapuram. Commenting on the new plant, Mr ...
Sinai Cement narrows 1Q loss
Egypt-based Sinai Cement Co , part of Vicat , saw consolidated net losses after tax of EGP58.47m (US$1.89m) in the first quarter of 2023, compared with losses of EGP67.19m in the 1Q22. The company’s sales reached EGP1240m in the 1Q23, representing a 160.7 per cent increase on EGP475.57m in the year-ago period.
Qatar National Cement signs digital and Uzbekistan MoUs
Qatar National Cement Co (QNCC) has made a strategic decision to partner SAP and Google Cloud to fuel its digital transformation and ensure future-proof operations. Eng Essa Mohammed Ali A M Kaldari, QNCC CEO, emphasised the significance of this transformation: "Our aim is to modernise and streamline our systems, increase efficiencies, and enhance the services we deliver to our...
The KCP Ltd sees profits slide as expenses climb
India-based cement producer, The KCP Limited , has announced standalone total income of INR4840m (US$58.5m) in the quarter ended 31 March 2023, up from INR4638.2m in the same period a year earlier. Total expenses over the same time frame have increased from INR4189.2m to INR4605.5m, driven primarily by power and fuel costs, resulting in a profit of INR147.5m in the March 2023 quarter, down fr...
The India Cements Ltd posts loss as expenses rise
The India Cements Ltd has posted standalone total income of INR14,788.9m (US$178.7m) in the quarter ended 31 March 2023, compared to INR13,967.2m in the same period a year earlier. The company has reported a loss of -INR2177.9m over the March 2023 quarter, versus a loss of -INR237.1m in the March 2022 quarter. Total expenses over the same period advanced from INR14,331.9m to INR16,073.1m...
ACC and Ambuja Cements launch new R&D centre
ACC and Ambuja Cements have launched a new research and development (R&D) facility at Kalamboli on the outskirts of Mumbai, India. The facility is designed to foster cutting-edge research, collaboration and the development of innovative solutions, to help drive progress, enhance cost optimisation and create sustainable solutions for the future of the cement and concrete industry. According...
Tokyo Cement Group receives the Gold Medal award
Tokyo Cement Co (Sri Lanka) received the Gold Medal for exceptional environmentally conscious business practices in the Chemical Industries Category at the Presidential Environmental Awards 2021-22 organised by the Central Environmental Authority (CEA) last month. The award recognises the multiple sustainable industry practices adopted by Tokyo Cement Group, according to CEA’s website inform...
CEMEX acquires mortar plant in Spain
CEMEX has acquired a mortar plant near Madrid, Spain, as part of its ongoing strategy to increase EBITDA through bolt-on acquisitions. The new plant is equipped with the latest technology to enable the production of traditional and specialty mortars with enhanced sustainability attributes. CEMEX’s nearby Castillejo cement plant will supply lower-carbon Vertua cement for mortar production. ...
Shree Cement posts 15% fall in profit
India’s Shree Cement has reported gross revenue from operations of INR59.98bn (US$724m) in the quarter ended 31 March 2023, up 16.8 per cent YoY. Profit of INR5.46bn (US$66.8m) was seen over the three-month period, compared to INR6.54bn in the same period a year earlier, marking a 15.3 per cent YoY decline. The company’s EBITDA margin over the same time frame contracted by two per cent a...