Cement News tagged: Corporate
Borneo Cement (Sabah) to complete 1.75Mta capacity project by 3Q25
Following a joint venture agreement between Sabah Economic Development Corp (Sedco) and Sri Alam Setia Sdn Bhd that will see the creation of Borneo Cement (Sabah) Sdn Bhd, a new integrated cement plant will be built in Pinangah, Tongod, Malaysia. The new plant will be able to produce 5000tpd of clinker and 1.75Mta of cement. With Sabah’s market demand currently at 1.4Mta it is expected that...
Prism Johnson turns a profit in June quarter
India-based Prism Johnson saw its net sales advance seven per cent YoY to INR19.04bn (US$230.4m) in the quarter ended 30 June 2023. Over the same period, consolidated profit after tax came in at INR207.6m, compared to a loss of INR160.1m in the same period a year earlier. Revenue from the company’s cement business, which accounts for over half its total revenue, expanded by 18 per cent Yo...
Orient Cement reports profit dip in June quarter
Orient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to...
Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary
The Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly com...
Ambuja Cements to acquire Sanghi Industries
Ambuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share ...
UltraTech commissions 1.2Mta Magdella expansion
UltraTech Cement has commissioned its 1.2Mta brownfield capacity expansion at Magdella , Gujarat. The project takes the plant’s total cement capacity to 1.93Mta. According to the company, UltraTech's total grey cement production capacity in India now stands at 132.45Mta.
WCA welcomes OneStone Consulting as an Associate Corporate Member
The World Cement Association (WCA) is welcoming OneStone Consulting, a management consulting firm with global reach, as an Associate Corporate Member. Recognising the importance of environmental responsibility, OneStone Consulting guides cement companies toward implementing sustainable practices and advancing circular economy initiatives that reduce carbon footprints and promote growth and ...
Dangote reports 82% advance in pan-African revenue
Dangote Cement has reported total sales volumes of 13.4Mt in the first half of 2023. Its pan-African sales, which includes all cement plant operations outside Nigeria, came in at 5.4Mt, up 11.6 per cent YoY, mainly due to robust demand in Ethiopia, Senegal, Zambia and Congo. Group revenue in the 1H23 stood at NGN950.8bn (US$1.23bn), up 17.7 per cent YoY, while pan-African revenue advance...
CRH invests EUR34m in Ukraine
Ireland’s CRH is investing EUR34m in a new cement shipping complex in Ukraine. Construction of the “main stage” of the project was completed in early July, according to The Sunday Independent. The complex will be able to receive, store and ship 450,000t of cement each year, and will feature an automated packaging and palletising line.
BUA Cement posts 1H23 revenue of NGN221bn
BUA Cement of Nigeria reported revenue of NGN221,067m (US$284.9m) in the 1H23, up 17.2 per cent from the NGN188,562m recorded in the 1H22. Operating profits totalled NGN86,940m in the 1H23, up 11.8 per cent from NGN77,737m in the 1H22. Profit before tax amounted to NGN76,425m, up from NGN77,378m in the 1H22. Profit after tax totalled NGN63,616m, a rise of 3.7 per cent from the NGN61,36...
HeidelbergCement Bangladesh reports profit in 1H23
HeidelbergCement Bangladesh Ltd (HCBL) has earned a net profit of BDT478.02m (US$4.4m) in January –June 2023 against a loss of BDT205.29m in the same period of 2022, according to the company’s financial results. The profit was attributed to increased gross profit, sales, other income, and less finance expenses. However, warehouse, distribution and selling costs increased during the period. ...
Shree Cement starts commercial production at Purulia
Shree Cement Ltd has commenced commercial production at its clinker grinding unit in the Purulia district of West Bengal with a cement capacity of 3Mta. According to the company, this is the first factory in the state which will help meet the growing demand for cement in West Bengal. Shree Cement operates 10 integrated cement plants and 11 grinding units across India. The Purulia plant...
Cementir reports 36% rise in 1H net profit
Cementir Holding posted broadly stable sales of EUR454.5m in the second quarter of 2023. Growth in Turkey, Asia-Pacific and Egypt was able to partially offset a decrease in revenues in the Nordic and Baltic area, Belgium and the USA. In the 2Q23 cement and clinker volumes sold declined by 6.8 per cent YoY to 2.8Mt due to a slowdown in sales in Denmark, Turkey, Belgium and the USA, despite th...
Heidelberg Materials increases revenue by 5% in 1H23
Heidelberg Materials reports that its r evenue rose by 5.3 per cent in the 1H23 to EUR10,473m (previous year: EUR9950m). Excluding scope and currency effects, the increase amounted to 8.5 per cent. Operating EBITDA reached EUR1787m up from EUR1525 in the 1H22 and EBITDA margin grew by 17.1 per cent in the 1H23 compared to 15.3 per cent in the 1H22. Operating EBIT totalled EUR1189m in the...
CEMEX grows sales by 10% in 2Q23
CEMEX has reported its 2Q23 results with a 10 per cent growth in sales to US$4566m, a 29 per cent increase in operating EBITDA to US$961m, and an EBITDA margin expanding by 3.3 percentage points to 21.1 per cent. With these results, CEMEX is close to its goal of recovering 2021 margins, set in 2022 in response to unprecedented inflation. Net sales in Mexico increased 14 per cent in the 2...
GCC sees net income increase 53% YoY in 2Q23
GCC SAB de CV reported a 13.7 per cent increase in consolidated net sales to US$364.1m in the first quarter of 2023. In Mexico sales advanced 34.4 per cent as a result of a 3.2 and 8.8 per cent increase in cement and concrete volumes, respectively. Cement and concrete prices rose by 11.5 and 14 per cent, respectively. Excluding the appreciation of the local currency, sales were up by 20.2...