Cement News tagged under: Sri Lanka
INSEE Cement appoints new CEO06 January 2023, Published under Cement NewsSri Lanka’s INSEE Cement has appointed Jan Kunigk as its new chief executive officer, effective from 1 January 2023. Mr Kunigk replaces Nandana Ekanayake, who is retiring from the role of CEO but will continue as chairman of the company. Mr Kunigk has previously held the positions of executive vice president at INSEE, as well as commercial director, responsible for marketing, sales, products and solutions, innovation and external affairs. Prior to joining INSEE Cement, he worked at Hol... |
Tokyo Cement posts 34% rise in revenue16 November 2022, Published under Cement NewsSri Lanka-based Tokyo Cement saw turnover advance 34 per cent YoY to LKR30,317m (US$82.5m) in the six months ended 30 September 2022. However the group reported an exchange loss of LKR3674m over the same period, giving a total exchange loss of LKR8733m over the calendar year so far, putting significant pressure on the group’s cashflows. Throughout the six-month period the group deployed aggressive cost management policies and efficiency improvements that proactively reduced operational ... |
INSEE Cement extends biodiversity MoU with IUCN08 November 2022, Published under Cement NewsSri Lanka’s largest cement producer, INSEE Cement , has entered into a Memorandum of Understanding (MoU) with the International Union for Conservation of Nature and Natural Resources (IUCN), according to The Colombo Post. The agreement will extend their long-standing partnership to continue INSEE’s biodiversity projects for a further three years, from 2022 to 2025. The MoU was signed by Nandana Ekanayake, chairman and CEO of INSEE Cement, and Anshuman Saikia, coordinator of regional portfo... |
Tokyo Cement Co (Lanka) sees 76% increase in 2Q revenues11 August 2022, Published under Cement NewsTokyo Cement (Co) Lanka plc posted a 76 per cent YoY increase in revenues to LKR11,442m (US$31.8m) in the three months ended 30 June 2022 (2QFY22-23). In the equivalent quarter of the previous year revenues stood at LKR6503m. The company’s gross profit increased by 285 per cent YoY to LKR3299m in the 2QFY22-23 when compared with LKR856.6m in the year-ago period. Profit before interest and taxation was up 272 per cent YoY to LKR2256m from LKR606.3m. However, finance expenses of LKR2224m... |
Tokyo Cement reports 31% jump in turnover07 June 2022, Published under Cement NewsTokyo Cement has reported a 31 per cent YoY increase in turnover to LKR16,158m (US$45m) in the fourth quarter of its financial year, ending 31 March 2022. Compared to the same period a year earlier, sales volumes declined by 11 per cent due to a breakdown at one of the company's grinding mills and the lack of availability of raw materials. For the current financial year as a whole, the company’s sales volumes improved by just one per cent, while turnover saw YoY growth of 22 per cent to LK... |
Lanwa Cement Corp inaugurates Hambantota plant today07 March 2022, Published under Cement NewsSri Lanka’s President Gotabhaya Rajapaksa is expected to open Lanwa Sanstha Cement Corp (Pvt)’s 4Mta in the Mirijjawila Export Processing Zone of Hambantota today. The cement works includes a fully-automated stacker reclaimer yard and two bridge types of ship unloaders for efficient, waste-free and sustainable handling of cargo. Lanwa Sanstha Cement Corp will produce the full range of cement types, including ordinary Portland Cement, Portland composite cement and blended hydraulic cement... |
INSEE Ecocycle inaugurates pyrolysis plant at Puttalam factory04 March 2022, Published under Cement NewsAs a key milestone of its sustainable waste management journey, INSEE Ecocyle has launched its latest state-of-the-art pyrolysis plant at the company’s Puttalam cement plant, Sri Lanka. The pyrolysis plant is designed to convert rubber and plastic waste originating from a wide range of industries into valuable resources, enabling us to augment our contribution to a circular economy. INSEE Ecocycle’s new pyrolysis plant was inaugurated at a special ceremony held recently, where the Gene... |
Tokyo Cement (Lanka) reports 20% increase in revenues10 February 2022, Published under Cement NewsTokyo Cement Group reported a 20 per cent advance in its turnover to LKR13.771bn (US$68.1m) for the third quarter ended 31 December 2021 when compared with LKR11.456bn in the 3QFY21-22. Profit for tax during the 3QFY21 grew by 38 per cent YoY to LKR1.986bn in the 3QFY21-22. Profit after tax reached LKR1.649bn, up from LKR1.303bn in the 3QFY20-21. However, sales volumes fell by three per cent as the company saw shortfalls in the supply chain, including the breakdown of a cement mill for m... |
Sri Lanka back on track for growth?21 January 2022, Published under Cement NewsThis Week, Tokyo Cement Co (Lanka) laid the first foundation stone for its 1Mta modernisation project at its Trincomalee factory, commissioning in early 2023. ICR reviews local producers' determination to overcome cement shortages, the ramping up of cement and raw material import infrastructure, and plans for new capex projects. Tokyo Cement Co (Lanka)'s (TCL) investments follow the cement shortages witnessed in the 2H2021, which were mainly due to pandemic related travel restrictions hin... |
Siam City Cement Group signs biodiversity MoU with IUCN21 January 2022, Published under Cement NewsSiam City Cement Group (SCCC Group) and the International Union for Conservation of Nature (IUCN) have extended their partnership for another three years by formalising a new Memorandum of Understanding (MoU). The MoU will support the implementation of the INSEE Sustainability Ambition 2030 plan, targeting Net Positive Impact (NPI) on biodiversity at sites where SCCC Group operates. The goal of the partnership is to avoid and minimise biodiversity loss to the maximum extent possible. Ov... |