Cement News tagged under: ACC

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ACC resumes limestone mining operations at Bargarh, India

18 June 2015, Published under Cement News

ACC Ltd informed the Bombay Stock Exchange that it has resumed limestone mining operations at Bargarh in Odisha state after about nine months. "The Company has resumed limestone mining operations at Bargarh with effect from June 17, 2015," ACC said in a statement to the Bombay Stock Exchange. ACC stopped mining at Bargarh in October following a government notice to suspend operations. "The impact of the closure was not material since cement grinding continued with transfer of clinker f...

ACC quarterly volumes lower on weaker demand

15 April 2015, Published under Cement News

ACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s second-largest cement producer said in a statement yesterday. The Holcim group company said its cement sales in the first three months of 2015 were down by 10.2 per cent to 5.82Mt versus 6.48Mt in the same period of last year. However, a mix of better realisation on cement sold, as a result of an increase in cement p...

ACC resumes Chaibasa mining operations, India

11 February 2015, Published under Cement News

ACC has resumed limestone mining operations at the captive mines of its Chaibasa cement plant in Jharkhand in eastern India, the company informed the exchanges. The Holcim group company had suspended mining activities temporarily in October at its plants in Chaibasa in Jharkhand and Bargarh in Odisha follwing a Supreme Court order. However, ACC resumed its operations after the government promulgated the mines and minerals (development and regulation) ordinance 2015 last month.

ACC reports 19% rise in 4Q14 profit

04 February 2015, Published under Cement News

ACC, India’s second-largest cement manufacturer, reported a 19 per cent jump in profit in the October-December quarter, driven mainly by a substantial tax reversal. Net profit rose to INR3.26bn in the three months ended 31 December from INR2.75bn a year ago, the company said in a filing to the Bombay Stock Exchange. The tax reversal for the quarter stood at INR1.8435bn against a reversal of INR358.5m in a year ago. The Holcim group company said net sales increased by three per cent to I...

Better price realisations boost ACC and Ambuja’s third-quarter revenues

31 October 2014, Published under Cement News

Holcim’s Indian subsidiaries ACC and Ambuja Cements both reported higher revenues for the 3Q14, on the back of a recovery in prices, but sales volumes remained a concern. ACC, the country’s second-largest producer, saw revenue grew by 9.4 per cent to INR2742 crore, driven primarily by a better pricing environment. Operating EBTIDA rose 32 per cent to INR379.08 crore. Net profit was INR193 crore, up 62 per cent YoY. Sales volumes at 5.62Mt during the September quarter were only 1.4 per cent...

Badami takes up role of ACC chief executive officer and MD

14 August 2014, Published under Cement News

Harish Badami yesterday assumed the role of CEO and managing director of India’s second-largest cement producer, ACC. "Harish Badami has taken over as CEO & MD from August 13 2014 and Kuldip Kaura has demitted office as CEO & MD from the said date," the Holcim group company said in a statement. The Board had approved Badami’s appointment in June. Prior to joining ACC on 1 August 2014, Badami had served as managing director of Celanese India. He also held the positions of president and MD...

ACC net profit down 7%, improving demand outlook

25 July 2014, Published under Cement News

India’s second-largest cement producer, ACC, reported a seven per cent decline in profit for the second quarter of the year as operational costs continued to rise. However, improvements on the demand front were noted, a trend which the Holcim group company expects to continue. During the quarter ended June 2014, consolidated turnover was up 7.8 per cent to INR30bn (US$5bn). EBITDA, however fell 7.7 per cent to INR4.5bn. Net profit was down 7.1 per cent to INR2.43bn. The company said it ...

Lafarge and Holcim to make portfolio decisions in India

16 June 2014, Published under Cement News

Holcim Ltd and Lafarge SA may sell some assets in India to clear the competition hurdle and are considering units in Rajasthan and Chhattisgarh where the two companies have common presence. Holcim operates in India through Ambuja Cements Ltd and ACC Ltd, and Lafarge through Lafarge India Pvt Ltd. Lafarge runs units in Chhattisgarh, Jharkhand, Rajasthan and West Bengal while ACC and Ambuja Cements own integrated plants in Rajasthan and Chhattisgarh, among other places.    "In states where ...

New ACC chief executive officer appointed

12 June 2014, Published under Cement News

ACC Ltd, part of the Holcim group, said on Wednesday that it had appointed Harish Badami as the chief executive officer (CEO) and managing director (MD) of the company. In a statement filed to the exchanges, the company said Mr Badami will take over from Kuldip Kaura, the incumbent CEO and MD, as of 13 August 2014 for a period of five years. ACC is India's second-largest cement producer.

ACC and Ambuja post diverging results, India

25 April 2014, Published under Cement News

Holcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company...