Cement News tagged: Corporate
Oman Cement Co sees net profits rise 32% in 1H23
Oman Cement Co , which is listed on the Muscat Stock Exchange, has achieved a 32.02 per cent increase in net profit for the first half of 2023. According Oman Cement’s financial statement, it achieved annual profits of OMR4.19m for the 1H23, surpassing the OMR3.17m achieved in the 1H22. The company saw revenue growth of 5.13 per cent in the 1H23 and revenue totalled IMR36.76m, up from OMR3...
UltraTech commissions 1.3Mta expansion in West Bengal
UltraTech Cement has commissioned its 1.3Mta brownfield cement capacity expansion at Sonar Bangla , West Bengal, taking the plant’s total capacity to 3.3Mta. This marks completion of the company’s first phase of expansion in the eastern region. UltraTech has commissioned cement capacity of 10.3Mta in the region over the last two years, catering to the rapidly-growing cement demand in the...
Steppe Cement reports lower volumes in 1H23
Kazakhstan-based Steppe Cement Ltd has reported sales volumes of 749,034t of cement in the first half of 2023, down from 837,063t in the same period a year earlier. Revenue over the same period fell from KZT19,579m (US$44.09m) to KZT16,977m. The average price for delivered cement over the 1H23 stood at KZT22,665/t (ex-VAT), compared to KZT23,391/t in the first half of 2022. The ex-factory pr...
Holcim invests in start-ups for disruptive innovation
Holcim has invested as a limited partner in Suffolk Technologies’ US$110m venture capital fund, supporting start-ups at the forefront of disruptive innovation in the building industry, from sustainability to artificial intelligence. As part of this fund, Holcim is committed to supporting the most promising start-ups by giving them access to capital as well as its global technology, expertise...
China Resources Cement Holdings issues profit warning
China Resources Cement Holdings Ltd has issued a profit warning for the six months ended 30 June 2023. According to the company, it expects to report a 63-38 per cent contraction in profit attributable to the owners, compared to the same period in the previous year. The decline is being attributed to lower selling prices of the group’s products over the six-month period, along with lower sa...
Mixed bag of results for Taiwanese producers in June
Taiwanese cement producers have seen a mixed bag of results for June as well as the opening six months of the year. Universal Cement has reported revenue in June 2023 of TWD604.3m (US$19.26m), up from TWD573.03m in the same month a year earlier. Revenue for the first six months of 2023 came in at TWD3754.7m, compared to TWD3280.9m in the 1H22. Lucky Cement Co also saw its revenue exp...
Dandot Cement Co has makes BMR programme progress
The Lahore-based Dandot Cement Co Ltd recently updated Pakistan Stock Exchange (PSX) about progress made on the Balancing Modernisation of Replacements (BMR) of 504,000t of its cement plant at Jehlum in Punjab, Pakistan, during April-July 2023. However, cement production has remained suspended due to the closure of plant operations for BMR activity since September 2019. According to Dandot ...
Prism Johnson transfers land and mining lease to Ramco Cements
Prism Johnson Ltd is transferring a number of limestone-bearing land parcels in Andhra Pradesh to Ramco Cements Ltd . The land, located in Kalvatla and Kotapadu, comprises 1420 acres. Prism Johnson is also transferring a mining lease granted by the Government of Andhra Pradesh covering 663 acres to Ramco Cements Ltd, reports Realty Plus. According to Prism Johnson, it originally purchas...
Kant Cement Plant completes conversion project
Kant Cement Plant OJSC , the largest producer of cement in Kyrgyzstan, has successfully completed conversion of its cement mill No 8 to a closed-circuit grinding system to achieve improve its product quality and energy efficiency. The project forms part of a large-scale reconstruction of production by the United Cement Group . Modernisation of the Kant Cement Plant began in 2021 with th...
Cementos Inka opens Pisco plant
Cementos Inka has opened its second plant in Pisco , Peru. The plant strengthens the company’s position to compete in the central and southern part of the country. Christian Pfeiffer supplied its latest grinding technology to the new Pisco plant. In the last 12 months, to May 2023, the national cement dispatch fell seven per cent to 12.7Mt compared to the previous period (June 2021 – May...
CEMEX hits Vertua milestone in Colombia
CEMEX has reached a sales milestone for its Vertua net zero CO₂ concrete in Colombia, surpassing 100,000m 3 of the product, enough to fill 40 Olympic-sized swimming pools. According to CEMEX, this achievement showcases progress towards the company's ambitious goal for its Vertua lower-carbon cement and concrete products to reach more than half of all cement and concrete sales by 2025. V...
Sika acquires Thiessen Team USA
Sika has acquired Thiessen Team USA, a US manufacturer of shotcrete and grouting products for the mining industry. The acquisition will open up significant cross-selling potential and will support Sika’s expansion in the US mining market, says the company. Thiessen operates two production facilities, strategically located close to large mines in the western US area. Increasing sustain...
UNACEM Peru sees 20% uptick in sales and record production in 2022
Peru-based UNACEM saw its net cement sales increase by 19.7 per cent YoY to PEN2655m in 2022, according to its 2022 integrated report. Total sales reached PEN2835m. EBITDA reached PEN882.3m, up 16.9 per cent YoY when adjusted for other income and costs, while net profit stood at PEN421.5m, up 6.6 per cent YoY. Dispatches increased to 6.666Mt in 2022. Bagged cement dispatches accounted for 68...
Hoffmann Green signs agreement with French landlord
Vendée Habitat, a social landlord in the Pays de la Loire region in France, with around 18,000 homes under its management, has signed an agreement with Hoffmann Green Cement Technologies to specify and promote concrete made with Hoffmann Green's clinker-free cement in all future building programmes throughout the Vendée region. The agreement forms part of Vendée Habitat’s low-carbon deve...
Lafarge Africa's Roadcem gets government approval in Nigeria
Lafarge Africa ’s road cement brand Roadcem has been approved for use by the Federal Ministry of Works and Housing in Nigeria. The product which is environmentally friendly increases the strength and bearing capacity of roads, reduces the thickness of the pavement structure, and modifies the chemical and mineral structure of soil materials. In Nigeria there is high variability in the quali...
LIC reduces stake in India Cements Ltd
India-based Life Insurance Corp (LIC) has reduced its stake in India Cements Ltd from 5.87 per cent to 3.83 per cent. The reduction has taken place between November 2017 and July 2023. LIC now holds 11.9m shares in the cement producer. India Cements currently runs eight integrated plants and two grinding units across India, with a total cement production capacity of around 15.5Mta.