Cement News tagged: Corporate

FLSmidth looks at possible divestment options in Cement business

30 January 2024, Published under Cement News

FLSmidth will explore the available divestment options for its Cement business to maximise the division’s full potential and strengthen the market leading position of its Mining business. Over the past year, FLSmidth has simplified and rightsized the Cement business to further strengthen its market-leading position, improve profitability and make it fit-for-purpose with a strategic focus on ...

Eco Material Technologies enters ash agreement in Alabama

30 January 2024, Published under Cement News

Eco Material Technologies has announced it will be collaborating with Alabama Power, a subsidiary of Southern Company, to harvest millions of tonnes of stored ash from Plant Barry, a coal- and natural gas-fired electrical generation facility located in Bucks, Alabama, USA. According to Stock Titan, the ash will be used in concrete blends to repair and construct bridges, roads, and buildin...

Premier Cement Mills' profit balloons in 2QFY23-24

30 January 2024, Published under Cement News

Premier Cement Mills PLC , the second-largest cement maker in Bangladesh, uploaded its financial results on the Dhaka Stock Exchange (DSX) on 28 January. The company witnessed a surge in profit by nearly 30-fold in the October-December 2023 quarter on the back of higher sales. It earned a profit of BDT220m (US$1.99m) in the second quarter, which was BDT7.5m in the similar three-month period ...

Heidelberg Materials ends clinker production at Hanover

02 February 2024, Published under Cement News

Heidelberg Materials has announced that it is shutting down clinker production at its Hanover cement plant in the second half of 2024. Going forward, the company will instead focus its activities in Hanover on the end-product cement and will continue to operate the site as a grinding facility. The adjustment comes after a substantial decline in cement sales following weak construction ...

Holcim names Miljan Gutovic as new CEO

Holcim names Miljan Gutovic as new CEO

29 January 2024, Published under Cement News

Holcim ’s has appointed Miljan Gutovic as chief executive officer (CEO), effective from 1 May 2024. He will succeed the current CEO Jan Jenisch, who will focus on his role as chairman and will stand for re-election at the AGM in May. Mr Gutovic, an Australian national, has been a member of the group executive committee since 2018. He served as head of the region Middle East and Africa, fo...

Holcim to list North America business in the US

02 February 2024, Published under Cement News

Holcim has announced its intention to list its North American business in the US with a full capital market separation. According to the company, this process will create the leading pure-play building solutions company in the region. The newly-listed business will be committed to driving long-term growth in the rapidly expanding North American market and unlocking value for all its stakehol...

PPC concludes 51% CIMERWA stake disposal

PPC concludes 51% CIMERWA stake disposal

02 February 2024, Published under Cement News

PPC has concluded the sale of its 51 per cent stake in CIMERWA , Rwanda. The South Africa-based cement producer sold its shareholding for US$42.5m to National Cement Holding Ltd. The sale enables PPC to focus on its core domestic market, where it sees opportunities to improve profitability and secure a more sustainable return on capital, reports The Chronicle. In a notice to shareholders,...

Lucky Cement records 92 per cent jump in profit

29 January 2024, Published under Cement News

Lucky Cement Ltd posted its financial result for 1HFY24 at the Pakistan Stock Exchange (PSX) on 26 January. The company announced unconsolidated earnings of PKR13.710bn (US$49m), showcasing a hefty jump of 92 per cent YoY. Gross sales increased to PKR79.26bn from PKR58.70bn over the same period. The company has decided to undertake a 28.8MW wind power project at the Karachi plant. The proje...

Inform collaborates with ready-mix software company

29 January 2024, Published under Cement News

AI-powered optimisation software company Inform has formed two new collaborations. The first is with BCMI, an innovative leader in cloud-based software company, for ready-mix concrete and bulk materials based in Redmond, WA, USA. The second is with  Marcotte Systems, a renowned leader in innovative solutions for the concrete industry based in Saint Bruno, Canada. These collaborations will br...

Kohat Cement welcomes new company secretary

29 January 2024, Published under Cement News

Nadeem Atta Sheikh, chief executive at  Kohat Cement , informed the Pakistan Stock Exchange Ltd (PSX) on the 26 January that Muhammad Ahsan Yousaf has ceased to be the company secretary of Kohat Cement with immediate effect. Ms Iqra Khalid has been appointed the new company secretary.

ACC reports 375% surge in PAT

26 January 2024, Published under Cement News

India’s ACC Ltd has reported a 139 per cent YoY leap in operating EBITDA to INR9050m (US$108.87m) in the 3QFY23-24. Profit after tax over the same period has advanced by 375 per cent to INR5380m. According to the company, the “robust” results are due to “a sharp growth in volume and improvement of important KPIs.” Revenue for the 3QFY23-24 stood at INR49,140m, up from INR45,370m in the same ...

Votorantim Cimentos to invest BRL5bn until 2028

26 January 2024, Published under Cement News

Votorantim Cimentos announced BRL5bn (US$1bn) in investments, which BRL1.5bn (US$300m) are already in place, to expand the company's cement capacity by 10 per cent in the next five years (3Mta). At BRL1666m/t (US$333m/t), the investment is expected to increase the yearly EBITDA by BRL1.3bn (US$260m) - 26 per cent of Votorantim's 2022 EBITDA, as stated by the news.  According to Osvaldo Ayre...

Dalmia Bharat Ltd records INR2660m profit in 3QFY24

25 January 2024, Published under Cement News

Dalmia Bharat Ltd reported profit after tax of INR2660m (US$32m) in the 3QFY23-24, up 22 per cent from INR2180m in the 3QFY22-23. Sales volume reached 6.8Mt in the 3QFY23-24. This was a rise of 8.1 per cent from the 6.3Mt recorded in the 3QFY22-23. The 3QFY23-24 EBITDA for the company amounted to INR7750m, a rise of 20.3 per cent from the INR6440m reported in the 3QFY22-23. Commenting on ...

JK Cement sees continued revenue growth

25 January 2024, Published under Cement News

JK Cement has reported total income of INR28,199m (US$339.12m) in the three months ended 31 December 2023. This compares to INR25,984m in the previous quarter and INR23,581m in the same quarter a year earlier. Profit after tax in the December 2023 quarter came in at INR2894.6m, up from INR1789.2m in the previous quarter and INR576m in the same quarter in 2022. Meanwhile, earnings per shar...

NCCB appoint new chairman

25 January 2024, Published under Cement News

Neeraj Akhoury, president of the Cement Manufacturers’ Association and MD of Shree Cement Ltd, has been appointed as the chairman of the National Council for Cement and Building Materials (NCCBM) for a span of two years (2023-24). The decision was taken at a meeting of the Board of Governors of NCCBM recently held at Vanijya Bhawan, New Delhi. Before joining Shree Cement, in October 2022, M...

Dangote Cement attracts substantial investment

24 January 2024, Published under Cement News

Dangote Cement has become the first company to be valued at NGN10trn (US$11.76bn) on the Nigerian stock market. The company’s share price advanced by 9.99 per cent on 22 January 2024 to close at NGN592.60 per share, giving the company a market value of NGN10.1trn. The news follows an NGN6bn investment in Dangote Cement by Femi Otedola, a Lagos-based billionaire.  Mr Otedola told Nigerian ...