Cement News tagged: Corporate

Fauji Cement posts a profit of PKR7.043bn in 9MFY23-24

26 April 2024, Published under Cement News

Fauji Cement Co Ltd (FCCL) announced its financial results for 9MFY23-24 on the Pakistan Stock Exchange website. The company posted a profit after tax (PAT) of PKR7.043bn compared to PKR6.968bn in the previous period, up by a meagre one per cent YoY. During the 3QFY23-24, earnings arrived at PKR1.769bn compared to PKR1.888bn, a fall of six per cent YoY, as reported in the initial financial c...

Suzanne Starbuck

Holcim sales dip 2% in the 1Q24

25 April 2024, Published under Cement News

Holcim has reported net sales of CHF5586m (US$6117m) in the opening quarter of 2024, down 2.4 per cent from the CHF5725m seen in the 1Q23. In local currency, sales were up 3.4 per cent YoY. Recurring EBIT in the 1Q24 came in at CHF532m, marking 7.8 per cent YoY growth, or 17.1 per cent growth in local currency. According to the company, the quarter saw a strong contribution from its Solution...

Suzanne Starbuck

Titan receives DoE funding for calcined clay project

25 April 2024, Published under Cement News

Titan America 's  Roanoke plant in Virginia is to receive funding for its first-of-a-kind calcined clay production line. The US$61.7m award has been granted by the US Department of Energy (DoE) to support the innovative technology that aims to substantially reduce CO 2 emissions. According to Titan, the funding underscores the company’s dedication to reducing CO 2 emissions throughout t...

Suzanne Starbuck

Star Cement begins production at new clinker line

25 April 2024, Published under Cement News

Star Cement has commenced production at its new clinker line in Lumshnong, Meghalaya, India, with effect from 21 April. The new line has a clinker production capacity of 3.3Mta. Also located in Lumshnong is Star Cement’s 1.67Ma integrated cement plant, reports Projects Today. The company also has two grinding units – a 2Mta plant in Sonapur , near Guwahati, and a 2Mta works at Mohitna...

GCC net income up 51% in 1Q24 Muriel Bal

GCC net income up 51% in 1Q24

24 April 2024, Published under Cement News

GCC SAB de CV reported a 11.9 per cent YoY increase in consolidated net sales to US$272.8m in the 1Q24 from US$243.9m in the 1Q23, mainly on the back of higher sales volumes in the US and favourable pricing in both markets. However, operating expenses were up by 45.5 per cent YoY to US$58.5m in the 1Q24 from US$40.2m in the year-ago period. The company posted a 31.6 per cent advance in EBI...

Suzanne Starbuck

Heidelberg Materials UK opens new recycling hub

24 April 2024, Published under Cement News

Heidelberg Materials UK has opened a new recycling hub at its Appleford depot in Oxfordshire, UK. It is the first of several planned this year as part of the company’s strategy to conserve natural materials and promote the circular economy. The Appleford hub will recycle construction waste, diverting it away from landfill and processing and reusing it to deliver sustainable products to i...

Qatar National Cement reports dip in sales in 1Q24 Suzanne Starbuck

Qatar National Cement reports dip in sales in 1Q24

24 April 2024, Published under Cement News

Qatar National Cement Co has reported sales of QAR106.06m (US$29.14m) in the first quarter of 2024, ended 31 March. This compares to QAR127.95m in the same period a year earlier. Net income came in at QAR51.37m, down from the QAR64.1m seen in the opening quarter of 2023.  Basic earnings per share from continuing operations stood at QAR0.08 in the 1Q24, compared to QAR0.10 in the year-ago ...

UltraTech agrees to acquire India Cements grinding facility

23 April 2024, Published under Cement News

India’s leading cement producer, UltraTech Cement , has agreed to purchase a 1.1Mta grinding facility in Parli in Maharashtra for INR3.15bn (US$37.8m) from  India Cements Limited .  UltraTech, a subsidiary of the Aditya Birla Group, will also invest INR5.04bn to expand its total capacity by 3Mta, including the Parliament facility.  The acquisition of the facility, as part of an asset pu...

DG Khan Cement posts 6% YoY profit growth in 9MFY24

23 April 2024, Published under Cement News

DG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn.  A cursory review o...

HeidelbergCement Bangladesh to change its name

23 April 2024, Published under Cement News

HeidelbergCement Bangladesh Ltd has called the Annual General Meeting (AGM) scheduled for 8 May 2024 to approve some important company matters and change the company’s name in Bangladesh. This follows the announcement that one of the company’s major shareholders, HeidelbergCement Netherlands Holding BV, changed its name to “Heidelberg Materials Netherlands Holding BV”, effective from 3 Novem...

Muriel Bal

Holcim El Salvador receives positive packaging certificate

23 April 2024, Published under Cement News

Holcim El Salvador received the 100% Recovered Energy (Positive Packaging) distinction, awarded by the international certification company Société Générale de Surveillance (SGS), for recovering from the environment packaging of the same or greater amount than the paper used in its cement packaging. The recovered packaging is used in co-processing. The company recovers paper through a waste s...

Suzanne Starbuck

Anhui Conch revenue up 7% YoY in 2023

22 April 2024, Published under Cement News

Anhui Conch Cement has beaten analyst expectations by posting revenue of CNY141bn (US$19.5bn). This marks a 6.8 per cent increase on the previous year. Net income in 2023 came in at CNY10.7bn, down 33 per cent on 2022, while the profit margin fell 12 per cent YoY in 2023. According to the company, the decline in margin was driven by higher expenses. Earnings per share in 2023 stood at CNY2....

Peter Bell

Martin Engineering sees in its 50th year of air cannon manufacturing

22 April 2024, Published under Cement News

Martin Engineering is marking the 50th anniversary of its invention of the world’s first low-pressure air cannon. Air cannons have transformed material flows in bulk processing systems, eliminating problematic internal buildups and blockages. After five decades of continuous innovation, Martin Engineering manufactures air cannon advancements, enabling industrial plants to run more profitably, ...

Muriel Bal

Tianrui stock crash linked to margin call

19 April 2024, Published under Cement News

The 99 per cent drop in the stock of China Tianrui Group Cement Co last week triggered a margin call for a major shareholder and wiped out nearly all of its market value. About 4.53 per cent of the company's stock was "forcibly sold in the open market due to the unusual price drop" on 9 April, the company said in a filing.  The 133.1m shares were held in the margin accounts of controlling sh...

Peter Bell

IKN supply cooler for Kukurdih cement plant

19 April 2024, Published under Cement News

UltraTech's Kukurdih greenfield cement plant in India, has become IKN’s 14th clinker cooler installation with five more coming soon, says IKN. IKN is proud to join UltraTech   Cement 's 150Mta celebration with its energy-efficient IKN pendulum cooler. The new Kukurdih  cement  plant will have a clinker capacity of 3.5Mta and a cement capacity of 5Mta, as well as a captive power plant of 50...

Bestway Cement posts a fall in profit in 9MFY23-24

19 April 2024, Published under Cement News

Bestway Cement Ltd (BWCL) announced its 3QFY23-24 (January-March 2024) and 9MFY23-24 (July 2023-March 2024) results on the Pakistan Stock Exchange (PSX) on 17 April 2024. The company’s net earnings stood at PKR10.31bn (US$37m) in the 9MFY23-24, down by 11.4 per cent YoY. The high cost of finance and expensive sales can be attributed to the lower profits during this period. During this per...