Cement News tagged under: Weekly Newsletter
Shortlist of candidates for CIMA sale21 November 2023, Published under Cement NewsSeven companies have been identified as potential purchasers of Cement Industries of Malaysia Bhd (CIMA), part of the UEM Group Bhd. According to The Edge Malaysia, of the seven shortlisted candidates, at least three are believed to be foreign - one from Germany, another from the Philippines and one from China. One source reportedly confirmed that none of the candidates are CIMA competitors, so the transaction should not result in any anti-competition issues. In August 2023, UEM Group ... |
Hillhead 202416 November 2023, Published under Cement NewsHillhead 2024 takes place between 25-27 June at Hillhead Quarry, Buxton, UK. Hillhead is the biggest quarry machinery exhibition of its kind and celebrates its 40th anniversary this year. Set in the stunning and unique surroundings of a real Derbyshire limestone quarry, the show continues to expand and set new records, with 600 exhibitors attending this year. Approximately 20,000 industry professionals are exoected to visit the event. For more information, visit: Hillhead 2024 |
Holcim exits Uganda and Tanzania15 November 2023, Published under Cement NewsHolcim has signed agreements to divest its businesses in Uganda and Tanzania. It has agreed to sell Hima Cement Ltd , its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120m. Holcim has also agreed to sell its 65 per cent share in Mbeya Cement Co Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances. Martin Kriegner, regional head Asia, Middle East and A... |
JK Lakshmi Cement prepares for calcined clay cement production15 November 2023, Published under Cement NewsJK Lakshmi Cement Ltd is poised to become the first cement company in India and across Asia to start commercial production of Portland calcined clay limestone Cement (IS 18189:2023) or LC3. This is a milestone achievement since most of the cement will be supplied to Noida International Airport (NIA). This will reduce the carbon footprint of the airport project which is in collaboration with Zurich Airport International AG with their EPC as TATA Projects Ltd. This initiative aims to combine... |
Sephaku Holdings' profit eroded by rising costs14 November 2023, Published under Cement NewsSephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL. According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost... |
Ghana shuts three cement companies14 November 2023, Published under Cement NewsThe Ghana Standards Authority has shut down three cement companies due to their use of inferior materials, reports the Daily Graphic. The three cement producers in question are Xin An Safe Cement Ghana Ltd , Kumasi Cement Ghana Ltd, and Uniceme Cement Ghana Ltd. The move is reportedly part of a wider crackdown by the GSA on substandard cement production in Ghana. Along with the closure of cement plants, the GSA also intends to prohibit the construction of new cement factories, pending a ... |
Brazil's cement market contracts 2% in October13 November 2023, Published under Cement NewsCement sales in Brazil declined by 2.1 per cent to 5.257Mt in October 2023 when compared with October 2022, when sales reached 5.368Mt, according to the Brazilian cement association, SNIC. The southeast, the largest market, saw sales contract by 2.9 per cent YoY to 2.382Mt in October 2023 from 2.453Mt in the year-ago period while in the northeast sales slipped by 0.9 per cent YoY to 1.092Mt from 1.102Mt. Sales in the south fell by 3.7 per cent YoY to 0.851Mt in October 2023 from 0.88Mt. Th... |
Birla Corp reports 14% revenue growth in 2QFY2413 November 2023, Published under Cement NewsBirla Corp has reported revenue of INR22,858.3m (US$274.5m) in the 2QFY24 ended 30 September 2023. This marks a 14.3 per cent YoY increase. Net profit in the 2QFY24 came in at INR583.7m, compared to a loss of INR564.6m in the same period a year earlier. The rise in profit has been attributed to a number of factors, including cost initiatives and optimisation of the power and fuel mix, according to the company. Cement sales over the same three-month period advanced by 14.8 per cent YoY to 4... |
Votorantim Cimentos posts 36% profit growth in 3Q2310 November 2023, Published under Cement NewsVotorantim Cimentos has posted revenue of BRL7.4bn (US$1.51bn) in the third quarter of 2023, down three per cent compared to the same period a year earlier. The decline has been attributed to “market dynamics and the negative impact of the appreciation of the Real.” Net profit over the three-month period came in at BRL824m, marking a 36 per cent increase YoY. Cement sales in the 3Q23 stood at 10.3Mt, a one per cent uptick on the same period in 2022. Consolidated adjusted EBITDA reached... |
Argos records EBITDA of COP742bn in the 3Q2310 November 2023, Published under Cement NewsArgos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24 per cent for the quarter up from 19 per cent YoY. Cement dispatches reached 3.98Mt, with a contrac... |