Cement News tagged: Corporate

Adbri CEO and MD step down

18 October 2022, Published under Cement News

Adbri ’s chief executive office and managing director, Nick Miller, is stepping down. Mark Irwin, senior executive at the company, has been appointed as interim CEO. According to Reuters, extreme rainfall and ongoing inflationary headwinds have continued to impact Adbri’s margins. Although demand has remained robust, the company is actively reviewing its expenses to deliver further cost re...

Shree Cement reports 67% profit drop

21 October 2022, Published under Cement News

Shree Cement Ltd has reported standalone revenue of INR37,810m (US$458.8m) in the quarter ended 30 September, 2022. This compares to INR32,058m in the same period a year earlier, representing an 18 per cent YoY increase. However, net profit over the same period fell by 67 per cent from INR5777m to INR1896m. Total expenses in the September 2022 quarter came in at INR36,882m, notably up fro...

Portland Valderrivas to invest EUR6m in Sevilla plant

17 October 2022, Published under Cement News

Cementos Portland Valderrivas expects to invest EUR6m in the construction of a non-hazardous waste processing plant and the renovation of its mining concession in Alcalá de Guardaira , Sevilla, Spain. The project will enable the plant to significantly reduce its energy costs and carbon footprint as the alternative fuel will replace petcoke. It will also allow for the elimination of waste ...

Raysut Cement reports loss during 9M22

17 October 2022, Published under Cement News

Raysut Cement Co (RCC), announced its initial financial results (group consolidated) for nine months, which ended on 30 September 2022. It reported a loss after taxation of OMR16.30m (US$42.3m) compared to a loss of OMR2.21m in the same nine months period last year.     The CEO of the Omani company, Khalid Ramis Mohammed Al Rawas, attributed the major reasons for losses to the cost of ...

TUC calls for Obajana plant reopening

TUC calls for Obajana plant reopening

17 October 2022, Published under Cement News

The Trade Union Congress of Nigeria (TUC) has threatened the Kogi State government to unseal Dangote's Obajana Cement plant or be ready to contend its members. In a statement signed by TUC president, Festus Usifoh, said it has become expedient for congress to act, as the welfare of over 22,000 workers, their family members, thousands of contractors, wholesalers, users of the products an...

Titan America digitises Pennsuco and Roanoke plants

14 October 2022, Published under Cement News

Titan America has announced the successful implementation of digitalisation applications based on artificial intelligence (AI) and machine learning at its two cement plants, resulting in enhanced equipment throughput and reliability, reduced energy consumption, and improved product consistency and quality. Titan America has deployed autonomous AI real-time optimisation algorithms that ...

Indian profits forecast to decline

Indian profits forecast to decline

14 October 2022, Published under Cement News

India’s cement producers are expected to report a decline in profits for the July-September 2022 quarter, according to Mumbai-based brokerage house KR Choksey. The brokerage predicts poor results in the short-term as the industry sees a wave of consolidation taking place, along with huge capital expenditure plans announced by the industry’s leading players. KR Choksey predicts a 19.2 per...

Carthage Cement reports 10% increase in 9M turnover

14 October 2022, Published under Cement News

Tunisia-based Carthage Cement posted a turnover of TND262m (US$8.2m) at the end of September 2022, compared to TND239m in the 9M21, representing an increase of 10 per cent YoY, according to African Manager. The company attributes the rise in turnover to a 25 per cent hike in export revenues and a seven per cent advance in domestic sales. Export turnover increased to TND41.2m in the 9M22 fro...

Steppe Cement CEO increases share

14 October 2022, Published under Cement News

The family of Javier del Ser Perez, chief executive officer at Kazakhstan’s Steppe Cement , has increased its share in the company. Following the purchase of 300,000 ordinary shares, the family now holds 18,543,115 ordinary shares, equivalent to an 8.47 per cent share in the cement producer.  Steppe Cement currently runs two integrated cement plants in Kazakhstan under its subsidiaries – ...

Pioneer Cement’s profits shrink by 47% in FY21-22

14 October 2022, Published under Cement News

Pioneer Cement Ltd earned a net profit after tax of PKR1.05bn (US$4.83m) in FY21-22 (July 2021-June 2022) compared to PKR1.97bn in the same period the previous year. This translates to a decrease in profit by 47 per cent YoY.     The company, in its annual report, pointed out that its net sales during the reporting period increased by 46.1 per cent to PKR31.87bn from PKR21.81bn during ...

Imerys extends capacity in India

13 October 2022, Published under Cement News

France-based Imerys, a world leader in mineral-based specialties, is planning to extend its capacity to meet rising demand from India’s cement and steel sectors. According to The Hindu, the company has set up a 30,000t calcium aluminate binder plant in Atchutapuram, Andhra Pradesh, to serve India’s refractory and construction industries. Imerys hopes to increase capacity further to 50,000t by...

Dangote responds to plant ownership claims

13 October 2022, Published under Cement News

Dangote Industries Ltd (DIL), the parent organisation of Dangote Cement Plc (DCP), has issued a statement reiterating that it acquired the Obajana cement plant in Kogi State following due process, reports The Punch newspaper. The statement is in response to claims by the Kogi State government that Dangote could not prove it was the legal owner of the factory. The statement by DIL clarif...

LafargeHolcim Côte d’Ivoire launch Bélier Blanc

13 October 2022, Published under Cement News

The General Management of LafargeHolcim Côte d'Ivoire proceeded on 6 October 2022 to an official launch ceremony of its latest product ‘Bélier Blanc’, the first white cement produced in west Africa. The event was held at its plant in the presence of the Deputy Director of Cabinet of the Minister of Commerce, Industry and SME Promotion, and several state authorities. LafargeHolcim Côte ...

JSW Cement announces 5Mta of new capacity

13 October 2022, Published under Cement News

Just hours after acquiring a 100 per cent stake in Springway Mining from India Cements , JSW Cement has announced plans to invest over INR32,000m (US$388.8m) in an integrated greenfield plant in Madhya Pradesh and a split grinding unit in Uttar Pradesh. According to The Hindu Business Line, the combined cement production capacity of the two units will be 5Mta. The plant in Madhya Pradesh...

Power Cement Ltd posts US$2.03m loss in FY22

12 October 2022, Published under Cement News

Power Cement Ltd has reported a loss after taxation of PKR443m (US$2.03m) in its 2022 financial year, compared to a profit of PKR358m in the corresponding period last year, said a company statement to the Pakistan Stock Exchange. Net sales increased by 23 per cent to PKR17.49bn from PKR14.22bn in the same period last year. It incurred lower selling and distribution expenses of PKR965m...

Dangote in crisis talks over violence at Obajana plant

12 October 2022, Published under Cement News

Aliko Dangote, president of the Dangote Group , has met with state governors to try and resolve the crisis at the cement producer’s Obajana plant. In attendance at the meeting was Yahaya Bello, governor of Kogi State, Abdullahi Sule, governor of Nasarawa State, and Ibrahim Gambari, chief of staff to the President of Nigeria. The meeting follows violence at the plant after the Kogi State ...