Cement News tagged: Corporate

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

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 ...

Aker Carbon Capture and MAN Energy collaborate on CCUS

24 January 2024, Published under Cement News

Aker Carbon Capture and MAN Energy Solutions have signed a Memorandum of Understanding to jointly pursue opportunities related to carbon capture, utilisation and storage (CCUS) and CO 2 compression in the North American market. The agreement leverages MAN’s expertise in compressor technology and system integration, as well as Aker Carbon Capture’s proven amine technology and carbon capture pr...

Lucky Cement expected to post strong financial results

Lucky Cement expected to post strong financial results

24 January 2024, Published under Cement News

Pakistan cement manufacturers, listed in Pakistan’s Stock Exchange (PSX), are yet to start posting their financial results on the bourse for 2QFY23-24 and 1HFY23-24. Mixed results are expected, due to the high construction cost, cement bag and steel prices, unviable interest rates and peak inflation. However, Lucky Cement Ltd ,which is scheduled to announce its 2QFY24 financial result on ...

PPC welcomes new executive committee

24 January 2024, Published under Cement News

South African cement producer PPC has restructured its executive committee to help boost the company’s profitability amidst forecasts of low cement demand across the country, according to The Herald.  Mokate Ramafoko has been appointed chief revenue officer (CRO), responsible for boosting PPC’s top line, while Kevin Ross has been named as the new chief legal and compliance officer and com...

Carthage Cement reports record turnover

23 January 2024, Published under Cement News

Tunisia-based Carthage Cement closed 2023 with a turnover of TND431m (US$138.7m), up 18 per cent when compared with the company’s turnover in 2022, driven by its cement and aggregate business. Domestic turnover increased 22 per cent to TND339m in 2023 from TND278m in 2022. Export turnover was stable at TND57m. Aggregate sales increased 27 per cent YoY from TND17.6m to TND22.4m in 2023. Co...

FLSmidth sells MAAG to Solix

23 January 2024, Published under Cement News

FLSmidth Cement sold its MAAG gears and drives business to Sweden-based investment company, Solix Group AB. The transaction is expected to close during the 1Q24 and includes all related assets, including intellectual property, technology, employees and customer contracts. The divestment of the MAAG business is in line with FLSmidth Cement’s GREEN’26 strategy, which in combination with a grea...

Shree Cement begins production at Nawalgarh plant

23 January 2024, Published under Cement News

India’s Shree Cement has commenced commercial production at its 4.2Mta cement plant in Nawalgarh . The facility, which is located at Village Gothra, Nawalgarh Tehsil, Rajasthan, began production on 22 January 2024. This latest plant forms part of the cement producer’s plans to reach a cement production capacity of 80Mta by 2030. 

UltraTech Cement records consolidated net sales of INR164bn

24 January 2024, Published under Cement News

UltraTech Cement Ltd ( Aditya Birla Group ) has released its financial results for the quarter ended 31 December 2023, reporting consolidated net sales of INR164,870m (US$1.983bn) compared with INR152,990m of the corresponding period of the previous year. Profit after tax was INR17770m, the highest-ever quarterly figure as compared to INR10580m in 3QFY22-23. The domestic grey cement sales v...

Adani Group ponders new cement plant in Godda

22 January 2024, Published under Cement News

Adani Group is considering to build a cement plant in Santhal Pargana, having set up a 1600MW thermal power plant in Godda that will come on-stream mid-2024. A company spokesperson said: “In keeping with our groups expansion plans, we are considering a feasilbility study to set up a cement plant, most probably in Godda.” The proposed plant will use fly ash from the company’s existing pow...

Hetauda Cement to resume production in February

19 January 2024, Published under Cement News

Following closure for three months due to a coal shortage, Nepal-based Hetauda Cement Industries Ltd  is expected to resume production at its plant in Makanwanpur in the first week of February, according to República. Hetauda Cement Industry's General Manager, Basanta Raj Pandey,said that the plant management has requested the Office of the Prime Minister, the Council of Ministers and th...

Ambuja Cements to invest INR14bn in 6Mta Telangana plant

18 January 2024, Published under Cement News

Ambuja Cements will invest INR14bn (US$168.3m) in the construction of a 6Mta cement plant in Telangana, India. The plant will be built on a 70-acre plot, said the company in a regulatory filing. Ambuja Cements is part of the Adani Cement Industries and operates 36.5Mta of cement capacity installed in 16 cement plants across India.

Southern Province appoints new chairman and deputy

18 January 2024, Published under Cement News

Saudi Arabia-based Southern Province Cement Co has appointed Saad Bin Abdulaziz Alkroud as chairman of the Board of Directors. Mansour bin Abdulaziz Al Saghir was named as vice chairman and Saudi Al Burgan as secretary of the Board of Directors.