Cement News tagged: Corporate
HeidelbergCement Bangladesh looks for new MD
HeidelbergCement Bangladesh Ltd is seeking a new managing director to oversee its operations in Bangladesh. Part of Heidelberg Materials (HM) Group, HeidelbergCement Bangladesh Ltd (HCBL) is Bangladesh’s leading cement manufacturing company. With a rich history of 151 years and a global presence in over 50 countries, the group boasts a workforce of 51,000 and an annual turnover of EUR21.2...
UltraTech Cement announces plans to acquire 31.6% stake in RAK Cement
UltraTech Cement , a subsidiary of the Aditya Birla Group, has announced that it intends to acquire a significant 31.6 per cent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). A partial acquisition cash offer was made by the company on 27 May for over 158,049,610 shares of RAKWCT's issues and fully-paid capital. The acquisition will be executed...
Anjani Portland Cement sees revenue advance YoY
Anjani Portland Cement has reported total revenue of INR1282.8m (US$15.4m) in the quarter ended 31 March 2024. This compares to INR960.5m in the same period a year earlier. A net loss of INR16.3m was seen over the March 2024 quarter, marking a slight improvement on the INR18m loss posted in the same period in 2023. Total expenses, meanwhile, expanded from INR981m in the March 2023 quarte...
CEMEX launches new Vertua low-carbon product
CEMEX Colombia has introduced a new Vertua lower-carbon mortar with a reduced carbon footprint of up to 40 per cent. This was achieved using more sustainable raw materials, better cementitious materials and a more efficient production process. CEMEX offers a wide range of mortars in its markets worldwide as part of its Urbanisation Solutions business. This latest mortar is part of the V...
TPI Polene reports weak operating conditions in 1Q24
The Bank of Thailand’s statistics on domestic cement sales show a negative trend since the pandemic, falling by 3.1 per cent in 2022 and 1.5 per cent in 2023. In addition, since November 2023 the trend has worsened and by March 2024 domestic cement sales had contracted 14.5 per cent YoY bringing the 1Q24 contraction to 10.6 per cent. The key reason for the major deterioration in demand is ...
Taiwan Cement to operate as TCC Group Holdings
Taiwan Cement Corporation (TCC) held its shareholders' meeting on 21 May 2024 officially announcing the transformation of the 78-year-old company into a group holding company, shifting its English name from Taiwan Cement Corporation to TCC Group Holdings. This marks a significant leap into 11 industries, spreading its presence across 13 international markets. TCC's Chairman, Nelson Chang, ...
Yong Concrete PCL announces two new plants in Rayong
Thailand-based Yong Concrete PCL has announced plans to build two new facilities in the country. Themove comes in response to rising demand in the Eastern Economic Corridor (ECC), and is aimed at offsetting market slowdown and government budget delays. Sunpetch Slisatakorn, CEO, said that one of the planned facilities will produce ready-mix concrete in the Nong Bua sub-district in Rayon...
Beton Provincial acquires CRH Canada assets
Béton Provincial has concluded its deal with CRH Canada Group Inc , acquiring assets in Quebec, Newfoundland and Labrador as well as the state of New York. As a result, Béton Provincial now operates one of the largest distribution networks in eastern North America. The company now owns Ash Grove Cement's Joliette cement plant, six cement terminals (three in Newfoundland and Labrador, two ...
CEMEX develops Generative AI tool
CEMEX has developed the first generative artificial intelligence (AI) tool of its kind in the building material industry, transforming how its salesforce interacts with clients by providing real-time support for a superior customer experience. The tool is an advanced knowledge assistant using Microsoft’s artificial intelligence and trained with CEMEX’s product information and ex...
Ambuja Cements commissions unloader at Karanja Port to speed up deliveries
Ambuja Cements has commissioned a bulk cement vessel unloader at Karanja Port, India. According to BusinessLine, the investment has been made to enable the company to easy transport cement from its Sanghipuram plant to Mumbai. It forms part of Ambuja’s ongoing efforts to optimise operational efficiency, reduce logistics challenges, and provide its customers with a seamless supply chain....
Dewan Cement's profitability dented due to high power costs in 9MFY23-24
Dewan Cement recently submitted its 9MFY23-24 report with the unaudited financial results for nine-month period that ended 31 March 2024 to the Pakistan Stock Exchange (PSX) for shareholders’ information. During this period, the company posted a loss of PKR601m (US$2.16m) against a loss of PKR758m, despite an increase of 12.9 per cent in sales during the new month’s period. The report a...
Heidelberg Materials UK acquires B&A Group
Heidelberg Materials UK has acquired B&A Group, one of the leading construction soil and aggregate recycling companies in southwest England. The Bristol-based company employs a team of 70, and specialises in the supply of recycled and primary aggregate as well as site clearance, earthworks, land remediation and sustainable land regeneration. It had its most successful year to date in 2023, t...
Eagle Materials posts record results
Eagle Materials has reported record revenue of US$2.3bn in the FY23-24, ended 31 March 2024, marking a five per cent advance YoY. Net earnings over the year improved by three per cent to reach a record US$477.6m, while adjusted EBITDA was up seven per cent YoY to US$834.5m. In the 4QFY23-24, revenue advanced to US$476.7m, up one per cent on the same period a year earlier. Net earnings ov...
PHINMA Corp to acquire Petra Cement for PHP500m
Philippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under ...
JSW Cement invests US$360m in new plant
JSW Cement is planning to build a new cement plant in Rajasthan, giving the company access to India’s northern markets. The proposed facility will have a cement capacity of up to 3.3Mta and an 18MW power plant, according to Mint. The INR30,000m (US$360m) investment is being funded through a mix of equity and long-term debt. “The proposed investment to establish our integrated cement faci...
Eagle Materials expands Laramie plant
Eagle Materials has announced plans to modernise and expand its cement plant in Laramie, Wyoming, USA, and related distribution facilities, to serve the growing northern Colorado area, Nebraska, Utah and Wyoming. The upgraded plant and additional distribution facility in northern Colorado will feature state-of-the-art technology, designed to maximise operational efficiency and further streng...