Cement News tagged: Corporate

Thomas Gruppe acquires Opterra Zement GmbH and Opterra Beton GmbH

24 October 2022, Published under Cement News

Thomas Gruppe has confirmed the acquisition of Opterra Zement GmbH and Opterra Beton GmbH (east Germany), which have been owned by CRH Plc since 2015 as part of the pre-merger bulk acquisition of certain Lafarge and Holcim assets.  CIC-Market Solutions estimates Opterra's cement sales to be close to EUR110m. The transaction amount has not been disclosed but is unlikely to exceed EUR200m...

Cement sector fuels Indian M&A record

21 October 2022, Published under Cement News

Adani Group ’s acquisition of Ambuja Cements and ACC has contributed to a new record in merger and acquisition (M&A) activity in India. According to data by Refinitiv, the value of M&A deals in India has risen by 58 per cent YoY to US$158bn in the first nine months of 2022, coming in higher than the full-year total in both 2018 and 2021. The nine-month period saw 1795 M&A deals being stru...

Bestway Cement fires new kiln line at Mianwali plant

21 October 2022, Published under Cement News

Company Secretary of Bestway Cement Ltd , Hassan Niazi, has informed Pakistan Stock Exchange (PSX) that the company has achieved the major milestone of lighting up the kiln at its 7200tpd greenfield plant near Paikhel, Mianwali district, in Punjab Province of Pakistan. The kiln was successfully lit up at 9.22h on 20 October 2022, added the regulatory filling.  Chairman of Bestway Group, Si...

LafargeHolcim Bangladesh reports 9% sales growth in 9M22

21 October 2022, Published under Cement News

LafargeHolcim Bangladesh (LHBL), a joint venture between Holcim Group and Cementos Molins, has reported positive trends in net profit, net sales, operating profit and earnings per share during the first nine months of 2022, despite an unprecedented increase in raw material costs. The company saw a seven per cent rise in net profit during the 9M22 to BDT3.308bn (US$32.4m), compared to BDT3...

Sagar Cements sees revenue of US$57m in the 3Q22

Sagar Cements sees revenue of US$57m in the 3Q22

21 October 2022, Published under Cement News

Sagar Cements Ltd has reported unaudited consolidated revenue from operations of INR4745.5m (US$57.22m) in the third quarter of 2022, compared to INR3689.3m in the same quarter a year earlier. The company saw a net loss of INR491.9m for the three-month period in 2022, versus a net profit of INR199.4m in the 3Q21. Power and fuel expenses advanced from INR1120.4m in the 3Q21 to INR2277m a y...

New president of Saint-Gobain's North American construction materials division

21 October 2022, Published under Cement News

Following the acquisition of GCP Applied Technologies by Saint-Gobain, GCP’s Specialty Construction Chemicals (SCC) segment will integrate with Chryso within the new Construction Chemicals Business Unit, part of the High-Performance Solutions division of Saint-Gobain.   Steve Williams, formerly president of Chryso North America, has been appointed president of the Construction Chemicals Bu...

Titan appoints new Group Executive Committee Chairman

Titan appoints new Group Executive Committee Chairman

21 October 2022, Published under Cement News

Marcel Cobuz has been appointed  the new chairman of Titan’s Group Executive Committee.   “As I take leadership of Titan Group , I would like to thank Dimitri Papalexopoulos for the excellent transition and look forward to working with him as Chair of the Board of Directors,” said Marcel Cobuz. “Big thanks to all my new colleagues around the world for making me feel at home. Together, w...

UltraTech reports net sales of US$1.64bn

20 October 2022, Published under Cement News

UltraTech Cement Ltd ( Aditya Birla Group ) has announced consolidated net sales of INR135,960m (US$1.64bn) for the quarter ended 30 September 2022, versus INR117,430m in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR11,030m and profit after tax was INR7560m, compared to INR19,470m and INR13,140m in the year-ago period, respectively. En...

Fauji Cement to become Pakistan’s third-largest cement player

20 October 2022, Published under Cement News

The Fauji Cement Company Ltd (FCCL) is currently undertaking two expansions to become the second-largest cement producer in the north of Pakistan and third-largest cement player in the country as a whole. Top officials from the company disclosed this during a corporate briefing on 18 October discussing the FY21-22 financial result (the FY21-22 profit of the company was the highest in history...

Ibeto Cement reopening could provide jobs for Igbo people

20 October 2022, Published under Cement News

While Dangote Cement 's Obajana plant has caused alarm at the manner and violence of its sudden closure, the long-term closed plant of Ibeto Cement still holds the potential for thousands of jobs for the Igbo people in the southeast. Iyke Uzukwu, a Nnewi-based analyst, wants the federal government to reopen the cement plant to release these jobs. Mr Uzukwu has called on the leadership of t...

Lafarge Cement fined US$778m for ISIS payments

19 October 2022, Published under Cement News

Lafarge Cement has agreed to plead guilty and pay a fine of US$777.8m for payments it made to terror organisation ISIS to keep operating a cement plant in Syria. The payments to ISIS, which reportedly totalled US$10.23m, were made from August 2013 to October 2014 and took place while the terrorist group was kidnapping and killing westerners, reports CNBC. According to the United States Depa...

Dalmia and Sagar submit formal bids for Andhra Cements

19 October 2022, Published under Cement News

Dalmia Cement (Bharat) Ltd and Sagar Cements have formally submitted offers to acquire Andhra Cements, according to Business Standard. Andhra Cements, which reportedly owes INR9700m (US$117.9m) to its lenders, was acquired by Jaypee Group in 2012 but has failed to report any sales for the last two years, or repay its debts. Data from Capitaline show that net sales by the company have fal...

Yamama Cement sees 49% jump in revenue in 3Q22

21 October 2022, Published under Cement News

Saudi Arabia's Yamama Cement has reported a 23.6 per cent advance in revenue to SAR684.2m (US$182.5m) in the first nine months of 2022. This compares to SAR553.5m in the same period a year ago, according to Argaam. Operating income over the same period advanced by 12.9 per cent from SAR178.02m to SAR200.95m, while net profit after Zakat and tax was up 29 per cent from SAR172.5m to SAR221....

Haver & Boecker Niagara expands Pedro Leopoldo manufacturing facility

19 October 2022, Published under Cement News

Haver & Boecker Niagara has expanded its manufacturing facility in Pedro Leopoldo, Brazil. The building expansion allows the company to produce 8000 parts per month at a rate of 320 parts per day. Additionally, the company can now move its rubber production 100 per cent in-house, allowing for an increased production capacity of its signature Ty-Dura Screen media and premium rubber liners by 60...

HeidelbergCement India sees 88% slump in profit

19 October 2022, Published under Cement News

HeidelbergCement India Ltd has reported a 12.2 per cent YoY decline in revenue in the quarter ended 30 September 2022. Revenue for the three-month period came in at INR5060m (US$61.5m), compared to INR5765m in the same quarter a year earlier. EBITDA over the same period fell 59.2 per cent from INR1165m to INR476m, while profit after tax slumped 88.2 per cent from INR596m to just INR70m. A...

ACC Ltd records cement volume growth of 4%

18 October 2022, Published under Cement News

ACC Ltd (ACC) (Adani Group) has announced the financial results for the quarter ended 30 September 2022, recording a cement volume grew of four per cent as compared to the same quarter last year. Ready-mix concrete also performed well with a volume growth of approximately 10 per cent over the same quarter last year.   With a focus on operational excellence and unlocking potential, ACC...