Cement News tagged under: Weekly Newsletter
US and Puerto Rico Portland and blended cement market contracts 4% in 1Q2419 June 2024, Published under Cement NewsTotal cement shipments of Portland and blended cement in the USA and Puerto Rico, including imports, declined by 8.1 per cent YoY to 8.01Mt in March 2024, according to the US Geological Survey (USGS). Texas, Florida, California, Arizona and Georgia accounted for 45.3 per cent of March deliveries. The leading producing states for Portland and blended cement were Texas, Missouri, California, Florida and Alabama. Masonry cement deliveries dropped 16.3 per cent YoY to 186,000t in March 2023. F... |
Maple Leaf Cement reclassifies PKR26bn investment plan18 June 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) on 12 June that it had reclassified its PKR26bn (US$93.3m) capital expenditure plan. In addition, the Board of Directors of Maple Leaf Cement approved that for years the company has continued its expansion and diversification strategy and has made significant investments that have enhanced shareholder enterprise value. It continue to add that the board noted that because of these reasons, the general reserve of the... |
Vietnamese PM orders restructuring of construction materials sector18 June 2024, Published under Cement NewsOn June 15, Vietnamese Prime Minister, Pham Minh Chinh, ordered the restructuring of the construction materials industry in terms of organisation, finance and input materials. In an online conference on removing difficulties in stimulating production and consumption of cement, metals, and other construction materials, the Prime Minister highlighted the issues of rising fuel costs, raw material shortages, environmental protection pressures, and problems with policy, markets and financing. ... |
PPC Africa predicts 20% YoY increase in earnings17 June 2024, Published under Cement NewsPPC Africa has predicted a 20 per cent increase in earnings for the fiscal year ended 31 March 2024, driven by a strong performance by its Zimbabwe operations. According to The Zimbabwe Mail, the previous year saw PPC Zimbabwe hit by a prolonged kiln shutdown, which had a negative impact on profit. Compared to that prior year, the latest fiscal is expected to see the headline earnings per share jump by 20 per cent. In the 10 months to January 2024, PPC Zimbabwe reported volumes up by ... |
Ambuja Cements acquires Penna Cement17 June 2024, Published under Cement NewsAdani Group subsidiary Ambuja Cements has acquired Penna Cement Industries Ltd (PCIL) for INR104,220m (US$1274m). Following this latest acquisition Adani Cement 's production capacity increased to 89Mta. It would also provide sufficient limestone reserves to Ambuja Cement. By 2028 Adani targets a total production capacity of 140Mta capacity and around 20 per cent market share. In a regulatory filing, Ambuja Cements Ltd said it will acquire 100 per cent shares of PCIL from ex... |
Adani Group sets US$3bn aside for multiple cement acquisitions14 June 2024, Published under Cement NewsThe Adani Group is planning several potential acquisitions within the cement sector. These include Hyderabad-based Penna Cement , Jaiprakash Associates’ cement business, Gujarat’s Saurashtra Cement, and Vadraj Cement (owned by ABG Shipyard). The group has allocated US$3bn for these acquisitions, demonstrating its commitment to a bold inorganic growth strategy as it attempts to become the largest cement producer in India. Adani Cement is currently the second-largest producer in I... |
Adbri shareholders agree to CRH takeover13 June 2024, Published under Cement NewsShareholders in Australia-based Adbri have given the green light to the takeover bid by Ireland’s CRH . According to The Australian, almost 98 per cent of the votes cast at a meeting held this week at Adbri were in favour of CRH’s acquisition of 57 per cent of Adbri shares. CRH first made a bid for the shares in December 2023, offering AUD3.20(US$2.13)/share, valuing the company at around AUD2.1bn (US$1.4bn). As part of the deal, Barro Group will retain its 43 per cent share of Adbri. ... |
MPA responds to government proposals for a UK CBAM13 June 2024, Published under Cement NewsGovernment proposals for a UK carbon border adjustment mechanism (CBAM) have been welcomed by the UK cement industry, but the Mineral Products Association (MPA) and UK Concrete say it has to happen by 2026. A CBAM in the UK is also important to reduce the risk of high-emission cement undercutting domestic production and flooding the UK market. Cement imports already account for 30 per cent of the UK market (3.6Mt) and, according to analysis from the MPA and UK Concrete, have accelerated i... |
Robust cement sales growth for Indonesia in May12 June 2024, Published under Cement NewsCement sales in Indonesia amounted to 5.678Mt in May. This is an increase of 11.2 per cent YoY compared to the 5.008Mt reported a year earlier. Regional sales reported growth across all areas led by Kalimantan where the development of Indonesia’s new capital, Nusantara, is ongoing. Sales there rose 32.2 per cent YoY in May to 475,672t up from 359,758t. Local dispatches in Bali-Nustra rose 23.9 per cent YoY to 346,822t from 280,184t. Java, the country’s largest market, saw sales rise 12.4 ... |
Rohrdorfer Zement awards Fives FCB clay calcination contract12 June 2024, Published under Cement NewsRohrdorfer Zement has awarded Fives FCB the EPC contract for the supply of a 50tpd clay calcination unit at the Rohrdorf plant in Bavaria, Germany. The integrated clay calcination unit within the clinker line is expected to test various clay sources and qualities with the ultimate goal of reducing CO 2 emissions linked to cement production, targeting net zero emissions in 2038. The pilot plant will feature Fives’ proprietary pyroprocess technologies such as three-stage FCB preheater, FCB ... |