Cement News tagged: Corporate
Kohat Cement Company’s profit advances 53% in FY23-24
Pakistan’s northern cement producer, Kohat Cement Co Ltd (KOHC), announced its financial results for FY23-24 on the Pakistan Stock Exchange website on 5 September. The company posted a profit after tax (PAT) of PKR8.89bn (US$31.9m), up 53 per cent from last year. The highest-ever annual earnings were possible due to the growth of other income, which increased by 114 per cent to PKR4.45bn dur...
Ukraine's antimonopoly committee clears CRH acquisition of Dyckerhoff Cement Ukraine
The Antimonopoly Committee of Ukraine (AMCU) has approved the deal by CRH Ukraine BV to acquire shares of PRJSC Dyckerhoff Cement Ukraine , according to an AMCU website report. The acquisition will provide the buyer with over 50 per cent of the voting shares on the PrJSC Dyckerhoff Cement Ukraine board. The AMCU also gave permission to implement the measures provided for in the purchase an...
Holcim names new CEO in Spain
Holcim has appointed Ricardo De Pablos as new general manager in Spain, replacing Carmen Díaz, who has been appointed Chief People Officer of the group. From his new position as General Manager of Holcim Spain, De Pablos will continue the work carried out by his predecessor, Carmen Díaz, in the area of sustainability, an aspect that the company considers central to the company's philosophy a...
Cemex completes divestment in Neoris for US$209m
Cemex has finalised the sale of its remaining stake in Neoris, a digital accelerator founded more than 20 years ago. The sale will enable the company to focus on its core business and in line with its current acquisition strategy and portfolio balancing. The 34.8 per cent interest in Neoris was sold for US$209m to digital transformation services company EPAM Systems, according to a statement...
Vecoplan focusses on digitalisation in new shredder features
Germany-based Vecoplan AG is tapping into the increasing demand for an improved performance of shredders and the use of digitalisation in their operation. “Many machine parameters that workers formerly set manually can now be managed automatically,” says Paul Mockenhaupt, who is responsible for digitalisation at Vecoplan. “For us it’s becoming more and more important to equip our machines w...
Ecocem appoints Mike Donovan as technical director of its US operations
Ecocem , Europe’s leading proprietor of low-carbon cement technologies, announced on 4 September that it has appointed Mike Donovan as technical director for its operations in the USA. Mr Donovan will play a pivotal role in furthering Ecocem’s business development initiatives as the company expands its scalable low-carbon cement technologies across North America. In his role as technical d...
Dalmia agrees to acquire 26% stake in Truere Surya
India-based Dalmia Bharat Group said that its subsidiary Dalmia Cement (Bharat) has entered into a share subscription and share holders agreement (SSSHA) to acquire a 26 per cent stake in the equity share capital of Truere Surya. The transaction value is INR448m for 44,800,000 shares. Truere Surya will enable Dalmia Cement (Bharat) to set up a captive solar power project with a capacity...
Cemex acquires recycling company as part of its circularity mission
On 3 September 2024, Cemex announced it had acquired a majority stake in RC-Baustoffe Berlin GmbH & Co KG, a Berlin-based recycling company and part of the Heim Group. The company processes mineral construction, demolition and excavation materials (CDEM). The recycling company will be integrated with Regenera, Cemex’s business that offers circularity solutions which extend the life cycl...
Holcim announces leadership appointments
Jaime Hill, Holcim's country CEO of Mexico, is appointed Holcim ’s region head North America with immediate effect. He succeeds Toufic Tabbara, who has decided to pursue opportunities outside of the company. Holcim states that Jaime Hill has consistently delivered leading profitable growth in his position as CEO of Mexico, making Mexico the second-biggest contributor to Holcim’s EBIT worldwid...
India’s SEBI puts temporary stop on JSW Cement IPO
India’s Securities and Exchange Board (SEBI) has put a temporary halt on the initial public offering (IPO) of JSW Cement. The IPO included a new equity issuance and an offer for sales from existing shareholders. The cement company had filed its draft prospectus in August 2024 and aimed to raise ~INR40bn. JSW cement had planned to use the proceeds to partially finance the construction of a ne...
Negotiations for Loma Negra sale continue despite expiration exclusivity
The potential sale of Loma Negra to CSN has entered a new phase after the exclusivity term to negotiate a deal expired on 12 August after an automatic renewal but has not been renewed since, reports Noticias Financieras. While negotiations with the Brazilian group continue, the expiry enables other companies to bid for the Argentinian cement producer. One candidate is Argentine busines...
Cementos Bio Bio reports sees 2Q profit surge
Chile-based Cementos Bio Bio SA (CBB) reported sales of CLP84.283bn (US$92.2m) in the second quarter of 2024, up 2.1 per cent from CLP82.569bn in the year-ago period. Profit before tax increased to CLP7.409bn in the 2Q24 from CLP2.003bn in the 2Q23. The company’s net income in the 2Q24 advanced to CLP6.519bn in the 2Q24 from CLP2.656bn in the 2Q23. Basic earnings per share from continuin...
CRH completes final phase of European lime divestment
CRH previously announced on 22 November 2023 that it has reached an agreement to divest its lime operations in Europe for a total consideration of US$1.1bn. CRH has now announced today that the third and final phase of the transaction, comprising the group’s lime operations in Poland, is now complete. CRH is one of the largest providers of building materials solutions. Employing around 78...
Huaxin Cement posts flat revenues in 2Q24
China-based Huaxin Cement reported flat revenues of CNY9.15bn in the second quarter of 2024. The company’s net income was down 41 per cent YoY to CNY553.1m while the profit margin slipped to six per cent in the 2Q24 from 10 per cent in the 2Q23. Earnings per share declined to CNY0.25 in the 2Q24 from CNY0.46 in the year-ago period.
Cemex to co-process Manuelita agro-industrial wastes
Regenera, Cemex's business for waste valorisation, has entered an agreement with Colombia-based Manuelita to transform sugar industry waste into alternative raw materials in the production of building materials. Under the initiative, Manuelita will supply industrial vinasse, a by-product from sugar or ethanol production, to Regenera. According to Alejandro Ramirez, president of Cemex for Col...
Mevocrete project moves to production
Material Evolution (UK) have worked with academic and industrial partners to develop and optimise low carbon geo polymer cement technology for production in the Mevocrete project. The Mevocrete project, backed by a GBP7.6m grant (US$10m) from Innovate UK through their Transforming Foundation Industries (TFI) Challenge programme, began in September 2022 and is now coming to an end. The waste...