Cement News tagged: Corporate

IFC invests US$130m in Iraq's Al Douh Cement

19 January 2024, Published under Cement News

IFC is investing in Al-Douh Iraqi Company for Cement Industries (part of Al-Riyadh Investment Companies Group) to help boost economic diversification and improve sustainable growth in Iraq. IFC is providing a financing package of up to US$130m in long-term debt to Al-Douh. The financing will enable Al-Douh to expand its cement production capacity by 1.9Mta to reach overall production of a...

Holcim completes three European acquistions

15 January 2024, Published under Cement News

Holcim has completed three bolt-on acquisitions in Europe, expanding its Solutions & Products portfolio for green growth. In Spain it has acquired a majority stake in Artepref SA, a fast-growing leader in innovative precast concrete solutions. In Greece Holcim has bought WATT Recycling, a leading waste management company that produces alternative fuels. Meanwhile, in the UK Holcim has entere...

Sika posts record sales in 2023

15 January 2024, Published under Cement News

Sika reports record sales of CHF11.24bn in 2023, up 7.1 per cent YoY in Swiss franc terms and 14.5 per cent in local currency terms. There was a high negative foreign currency effect of -7.4 per cent due to the sharp appreciation of the Swiss franc. Thomas Hasler, Sika's CEO, said: “Sika has once again proved its resilience over the past 12 months. Thanks to our well-functioning business mod...

JSW Cement prepares for IPO

11 January 2024, Published under Cement News

JSW Cement has reached out to domestic and foreign investment banks including SBI Capital, Kotak Mahindra Capital, JM Financial, DAM Capital, Jefferies, Citi and Goldman Sachs for advising the company on the proposed initial public offering. JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about INR65000m (US$782.9m), according to The Hindu busine...

Sublime Systems to launch first cement plant

Sublime Systems to launch first cement plant

12 January 2024, Published under Cement News

US-based Sublime Systems, a developer of low-carbon cement, has announced plans to build its first cement plant. The facility, located in Holyoke, Massachusetts, will have a production capacity of 30,000tpa and is expected to come on stream in 2026. According to the company, the plant will produce “the only fossil-fuel-free, scalable, drop-in replacement for traditional cement in concrete.”  ...

Hoffmann Green signs housebuilding contract

10 January 2024, Published under Cement News

France-based Hoffmann Green Cement Technologies , a manufacturer of clinker-free cement, has announced the signing of a partnership until the end of 2027 with Groupe Trecobat, the fourth-largest builder of single-family homes in France.  This partnership with Hoffmann Green will enable Groupe Trecobat to reinforce its low-carbon strategy by taking advantage of Hoffmann’s clinker-free ceme...

FCT Combustion appoint European and African sales manager

FCT Combustion appoint European and African sales manager

10 January 2024, Published under Cement News

FCT Combustion has appointed Átila Soares as its sales manager for Europe and Africa. Átila will be based in the company’s office in Vienna, Austria.  Átila was previously at the AUMUND Group, where he has held several roles over the past 18 years, including sales manager for the past seven years. He also holds a Mechanical Engineering degree from Faculdade de Engenharia Industrial (FEI), B...

Sinoma wins Eastern Province Cement contract

12 January 2024, Published under Cement News

Saudi Arabia-based Eastern Province Cement Co has awarded the contract for a new cement production line to China’s Sinoma CDI. The new line, which is costing US$270m, will have a production capacity of 10,000tpd and will be located at Eastern Province’s existing site in Khursaniyah. According to Mist News, the contract covers design, supply, delivery, construction, and installation of...

Shree Cement launches Bangur as master brand

09 January 2024, Published under Cement News

India’s Shree Cement has announced a revamp of its corporate brand identity and the launch of multiple brand offerings with Bangur as the master brand. According to Neeraj Akhoury, MD of Shree Cement, the launch of Bangur as the master brand “is in sync with our strategy of assessing and responding to evolving customer sentiments and growing aspirations. The intent is to position Bangur a...

Aditya Birla appoints Chief Human Resource Officer (Designate)

09 January 2024, Published under Cement News

In line with the Aditya Birla Group ’s Employee Value Proposition of ‘A World of Opportunities’ and talent philosophy of developing talent from within, the Board of Directors at its recent meeting, based on the recommendation of the Nomination, Remuneration and Compensation Committee, considered and approved the appointment of Chandrashekhar Chavan, as Chief Human Resource Officer (Designate)...

FIDEtechnology prepares for industrial scale-up

08 January 2024, Published under Cement News

Pioneering start-up FIDEtechnology, dedicated to decarbonising the construction industry, proudly announced the sale, installation, and successful operation of its first Prototype at the Construction Materials Laboratory at Ecole polytechnique fédérale de Lausanne (EPFL) in Lausanne, Switzerland. FIDEtechnology has invented, engineered and patented a new design concept, the FIDE Low Carbon (L...

ACC acquires Asian Concretes and Cements

08 January 2024, Published under Cement News

ACC Ltd , a subsidiary of Ambuja Cements Ltd , has announced that it is acquiring a 55 per cent stake in Asian Concretes and Cements Pvt Ltd (ACCPL) for an enterprise value of INR7750m (US$93.3m). ACC currently holds a 45 per cent stake in ACCPL so this latest deal gives ACC entire ownership of ACCPL, increasing ACC’s cement production capacity to 38.55Mta.  ACCPL runs 1.3Mta of cement ...

Holcim replaces Beckum cooler

12 January 2024, Published under Cement News

Holcim is modernising its Beckum pyroprocessing line with a new state-of-the-art Pendulum cooler. The project represents a EUR20m investment and is expected to significantly reduce the plant's thermal energy requirement as well as CO 2 emissions. The cement producer will shut down its plant on 24 July for approximately 45 days to install the new cooler with a restart scheduled for the begin...

Saudi producers warn of rising production costs

05 January 2024, Published under Cement News

Cement producers in Saudi Arabia have received a notification from Saudi Arabian Oil Co (Saudi Aramco) that the price of fuel products used in cement production will be increasing in price, effective from 1 January 2024.  Arabian Cement Co , Yamama Cement Co , Qassim Cement Co and Al-Jouf Cement Co are among the cement manufacturers who have warned customers that this adjustment “will...

CRH completes lime divestment

05 January 2024, Published under Cement News

On 22 November 2023, CRH plc announced that it had reached an agreement to divest its lime operations in Europe for a total consideration of around US$1.1bn. This company is pleased to announce that the first phase of the transaction, comprising the group’s lime operations in Germany, Czech Republic and Ireland, is now complete.

Northern Region Cement signs US$44m Iraq partnership

04 January 2024, Published under Cement News

Saudi Arabia-based Northern Region Cement Co has signed a partnership agreement with Al-Diyar Al-Iraqia for Investments Co which sees the Iraqi company acquire 49 per cent of Northern Region Cement’s Iraqi investments. The deal is valued at US$43.95m and proceeds will be used to inject external investments in promising opportunities and repay a portion of the high-cost loans amid high fina...