Cement News tagged: Corporate
Cemex sells operations in Guatemala
Cemex announced that it has sold its operations in Guatemala to Holcim Group , for a total consideration of approximately US$200m, with the transaction signed and closed 10 September 2024. The divested assets consist of one grinding mill, three ready-mix plants and five distribution centres. As of 31 December 2023, the grinding mill had an installed capacity of around 0.6Mta. Fernando...
Maple Leaf Cement Factory's profit grows by 19% in FY23-24
Maple Leaf Cement Factory Ltd (MLCF) uploaded its financial results for FY23-24 to the Pakistan Stock Exchange (PSX) on 11 September 2024. The company posted a profit after tax (PAT) of PKR6.891bn (US$24.7m), an increase of 19 per cent YoY compared to PKR5.771bn in the previous period. According to AHL Research, the topline of MLCF during FY23-24 increased by seven per cent YoY to PKR6...
U-Ming purchases two new cement carriers
Taipei-listed dry bulk ship owner U-Ming that it has bought two new cement carriers to replace older vessels. The new vessels are expected to operate with improved fuel efficiency and be more environmentally friendly. The delivery dates were not available. U-Ming operates five cement carriers with sizes ranging from 6169dwt to 12,340dwt, built between 1980 and 1995.
Attock Cement Pakistan receives sales proceeds from the Iraqi plant
Attock Cement Pakistan Ltd informed the Pakistan Stock Exchange (PSX) on 9 September that it had received the sales proceeds of its stake in a cement facility in Iraq. Attock Cement has completed the sale of its shareholding in its subsidiary, Saqr Al Keetan for Cement Production Co Ltd (SAKCPCL), receiving the third tranche of payment amounting to US$5.850m. This marks the final conside...
Cemex joins initiative to lift Latin American living standards
Cemex has joined the "100,000 Pisos Para Jugar" ("100,000 Floors to Play") initiative alongside Habitat for Humanity and the Inter-American Cement Federation (FICEM). The initiative aims to replace 100,000 dirt floors with concrete in homes across Latin America and the Caribbean by 2028. Cemex will support this project in Colombia through its “Piso Digno” (Dignified Floor) programme, which...
Attock Cement Pakistan sees 135% PAT surge in FY23-24
Attock Cement Pakistan Ltd (ACPL) earned a profit after tax (PAT) of PKR3.56bn (US$12.8m) in FY23-24 compared to PAT of PKR1.51bn in the same period last year, according to the company's filing to the Pakistan Stock Exchange (PSX). The profit expanded by 135 per cent during this period due to higher sales and was mainly due to the gain in sales of the subsidiary ‘Saqr Al Keetan for Cement Pr...
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...