Cement News tagged: Corporate

Cemex and Buzzi Unicem complete Kosmos Cement sale to Eagle Materials Inc

12 March 2020, Published under Cement News

Cemex has divested its 75 per cent share in its partnership with Buzzi Unicem of Kosmos Cement in Louisville, Kentucky, USA, to Eagle Materials Inc. The divestment is for an aggregate amount of US$665m, of which Cemex will receive approximately US$499m. Meanwhile, Buzzi Unicem has sold its 25 per cent share in Kosmos Cement to Eagle Materials Inc. The deal includes the divestment of the Louis...

LafargeHolcim Bangladesh profits grow in 2019

12 March 2020, Published under Cement News

LafargeHolcim Bangladesh has posted profit after tax of BDT1.737bn (US$16.24m) in 2019 as compared to BDT1.115bn in 2018.  This represents a growth of 56 per cent in profit after tax YoY, says the cpmany. The company recorded a growth of seven per cent in sales during 2019, which rose to BDT17.840bn from BDT16.632bn during this period. The company also declared 10 per cent cash dividend for ...

Ecocem Group appoints new MD for Ireland

09 March 2020, Published under Cement News

The Ecocem Group  have made a strategic internal appointment of Susan McGarry as managing director of Ecocem Ireland. A chartered engineer Susan has worked for Ecocem for close to nine years in a variety of roles, the most recent of which was European sustainability manager. "Working across the Ecocem Group for 9 years has giving me the confidence and the ability to take on this challenge. Th...

Holcim El Salvador sets record production figures in 2019

16 March 2020, Published under Cement News

Holcim El Salvador produced over 1.2Mt of cement and 710,000Mm 3 of concrete in 2019, representing record production figures, and plans to maintain this positive performance in 2020. The company also co-processed around 26,000t of waste in 2019, up from 20,000t in the previous year. Elsewhere, Holcim is also considering reopening its Maya cement plant, which was closed in 2008 due to low do...

Dyckerhoff Cement Ukraine sees 414% surge in profit

Dyckerhoff Cement Ukraine sees 414% surge in profit

06 March 2020, Published under Cement News

Dyckerhoff Cement Ukraine has reported a 414.2 per cent surge in profit to UAH814.27m (US$32.7m) for 2019, against UAH158.36m in the previous year, according to the Ukrainian News Agency. The company’s total assets as of the end of 2019 also increased by 8.7 per cent YoY to UAH2.65bn.

Sagar Cements records 8% YoY fall in production

06 March 2020, Published under Cement News

India’s Sagar Cements has seen its standalone cement production fall 7.9 per cent to 207,860t in February 2020, compared to 225,751t in the year-ago period. Consolidated cement production was also down 3.6 per cent YoY to 287,833t from 298,540t. The company's standalone cement sales for the month declined 2.6 per cent YoY to 212,002t from 217,540t in February 2019. However, consolidated cem...

MGI Group of Bangladesh sets up nine industrial units, including cement

MGI Group of Bangladesh sets up nine industrial units, including cement

06 March 2020, Published under Cement News

Meghna Group of Industries (MGI), a leading Bangladeshi business group inaugurated last week nine newly-built industrial units, including cement plants, at its economic zone in the Narayanganj district, Dhaka of Bangladesh. A group announcement said, "We are much obliged to the distinguished guests, patrons and well-wishers for their unconditional support to our cause." The Finance Minister o...

Lafarge Cement appoints new Cauldon Works manager

06 March 2020, Published under Cement News

Lafarge Cement UK (Aggregate Industries - LafargeHolcim group) has appointed Stuart Hutching as the new manager of its Cauldon cement plant in Staffordshire, UK. With more than 20 years of experience within the cement industry, Mr Hutchings will be responsible for the plant, which produces approximately 1Mta of cement and employs around 150 staff. Mr Hutchings said: "Cauldon is a world-class...

Caribbean Cement Co inaugurates new packing equipment

05 March 2020, Published under Cement News

Jamaica's Caribbean Cement Co has inaugurated a new palletising machine at its Rockfort plant to reduce manual packing. The FLSmidth Ventomatic Polimat palletiser is one of two new packing machines acquired by the company and while one machine is already up and running, the commissioning of the second is already underway. "Our production capacity, as of today, with only this new palletiser,...

Good indicators for cement industry in Pakistan

05 March 2020, Published under Cement News

The Pakistan government's intentions to lower the mark-up rates, encouraging cement dispatch data, a decrease in inflation figures and significant growing provincial export data have altogether renewed the investors' confidence in cement sector scripts at Pakistan Stock Exchange (PSX).  Presently, Pakistan's central bank SBP Policy Rate is 13.25 per cent per annum, making borrowing too expen...

Yanbu Cement reports 183% rise in net profit for 2019

05 March 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.

GICA subsidiary prepares export plan

05 March 2020, Published under Cement News

The Public Industrial Group of Algerian Cement (GICA) has announced that its Beni Saf subsidiary plans to export over 45,000t of clinker to African countries during the current year. Orders are reportedly under study for exports from the port of Ghazaouet, Algeria, to several countries, including Ghana, Guinea and Mauritania, according to Dakmous Fatima-Zohra, communications and marketing of...

JSW Cement launches Jajpur grinding plant

04 March 2020, Published under Cement News

JSW Cement has announced that it has recently inaugurated the 1.2Mta Jajpur cement plant in Odisha, India. The launch was graced by the honourable Ratan Jindal, Parth Jindal and Abhyuday Jindal. With this expansion JSW Cement's cement capacity has expanded to 14Mta.

Mancherial Cement Company faces possible closure

04 March 2020, Published under Cement News

Mancherial Cement Company (MCC), formerly known as Associated Cement Companies (ACC), one of the oldest cement manufacturers in south India, is on the verge of closure, reports Telangana Today. Owing to its weak economic condition, the existing management of the plant is struggling to pay power bills and to clear loans availed from various banks. The plant was built in 1958 with German techn...

Saudi Cement Co records 13% increase in net profit

04 March 2020, Published under Cement News

Saudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn.

Lafarge Zimbabwe appoints new Chief Executive

04 March 2020, Published under Cement News

Lafarge Zimbabwe (LafargeHolcim group) has appointed Precious Murena-Nyika as its new chief executive. Siame Kaulule, who previously held the position, left in January 2020 to take up a new position for the company in South Africa. "Precious Murena-Nyika was yesterday confirmed as the new Lafarge Zimbabwe CE. The announcement was done by Lafarge East and Southern Africa area manager Pierre De...