Cement News tagged under: Weekly Newsletter
Holcim to list North America business in the US29 January 2024, Published under Cement NewsHolcim has announced its intention to list its North American business in the US with a full capital market separation. According to the company, this process will create the leading pure-play building solutions company in the region. The newly-listed business will be committed to driving long-term growth in the rapidly expanding North American market and unlocking value for all its stakeholders. Following the US listing of North America, Holcim is expected to remain included in the Sw... |
PPC concludes 51% CIMERWA stake disposal29 January 2024, Published under Cement NewsPPC has concluded the sale of its 51 per cent stake in CIMERWA , Rwanda. The South Africa-based cement producer sold its shareholding for US$42.5m to National Cement Holding Ltd. The sale enables PPC to focus on its core domestic market, where it sees opportunities to improve profitability and secure a more sustainable return on capital, reports The Chronicle. In a notice to shareholders, PPC Chief Executive Officer, Matias Cardarelli, said: "I am pleased with the timely completion of t... |
Votorantim Cimentos to invest BRL5bn until 202826 January 2024, Published under Cement NewsVotorantim Cimentos announced BRL5bn (US$1bn) in investments, which BRL1.5bn (US$300m) are already in place, to expand the company's cement capacity by 10 per cent in the next five years (3Mta). At BRL1666m/t (US$333m/t), the investment is expected to increase the yearly EBITDA by BRL1.3bn (US$260m) - 26 per cent of Votorantim's 2022 EBITDA, as stated by the news. According to Osvaldo Ayres Filho, global CEO, the investment will also increase the company's competitiveness, reduce mining ... |
Dalmia Bharat Ltd records INR2660m profit in 3QFY2425 January 2024, Published under Cement NewsDalmia Bharat Ltd reported profit after tax of INR2660m (US$32m) in the 3QFY23-24, up 22 per cent from INR2180m in the 3QFY22-23. Sales volume reached 6.8Mt in the 3QFY23-24. This was a rise of 8.1 per cent from the 6.3Mt recorded in the 3QFY22-23. The 3QFY23-24 EBITDA for the company amounted to INR7750m, a rise of 20.3 per cent from the INR6440m reported in the 3QFY22-23. Commenting on the quarter gone by, Puneet Dalmia, MD and CEO of Dalmia Bharat Ltd, said, “India has undergone a hu... |
Petrofac wins CO2 capture role at Cauldon Cement plant25 January 2024, Published under Cement NewsPetrofac’s consulting team, based in Woking, UK, is delivering several early engineering scopes, including feasibility and technology selection, that will identify opportunities for capturing CO 2 at the Lafarge Cauldon plant , Stoke-on-Trent, UK. The facility currently emits over 600,000tpa of CO 2 from its operations, through the burning of tyre chips, liquid solvent, solid recovered fuel (SRF), processed sewage pellets (PSP) and coal for fuel. CO 2 captured at the Cauldon facili... |
Uzbek cement output up 3% in 11M2325 January 2024, Published under Cement NewsCement producers in Uzbekistan produced 11.1Mt of cement in the January-November 2023 period, according to the Statistics Agency of Uzbekistan. When compared with the previous year, this represents an increase of 2.5 per cent. Large companies produced 857,500t of cement in November alone. In September 2023 a new 3Mta factory came online in Samarkand. The UZS3.8trn (US$312.6m) project was launched with assistance of CHINA Energy International Group. The plant, which uses coal as fuel, wil... |
Dangote Cement attracts substantial investment24 January 2024, Published under Cement NewsDangote Cement has become the first company to be valued at NGN10trn (US$11.76bn) on the Nigerian stock market. The company’s share price advanced by 9.99 per cent on 22 January 2024 to close at NGN592.60 per share, giving the company a market value of NGN10.1trn. The news follows an NGN6bn investment in Dangote Cement by Femi Otedola, a Lagos-based billionaire. Mr Otedola told Nigerian media that the move was part of his overall strategy to ensure long-term wealth preservation and und... |
Concrete4Change technology gains recognition24 January 2024, Published under Cement NewsUK-based startup Concrete4Change (C4C) has been nominated for The Earthshot Prize 2024, a global initiative spearheaded by the Prince of Wales to recognise and support innovative solutions to reduce global emissions. C4C aims to decarbonise the concrete industry by mineralising CO 2 in concrete, turning concrete into the safest form of CO 2 sink in the world. The technology involves a concrete additive material that acts as a carrier for CO 2 . The carrier is injected with CO 2 capture... |
UltraTech Cement records consolidated net sales of INR164bn22 January 2024, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has released its financial results for the quarter ended 31 December 2023, reporting consolidated net sales of INR164,870m (US$1.983bn) compared with INR152,990m of the corresponding period of the previous year. Profit after tax was INR17770m, the highest-ever quarterly figure as compared to INR10580m in 3QFY22-23. The domestic grey cement sales volume rose five per cent YoY and one per cent QoQ, respectively. Improved operational efficiencies, ... |
Decarbonised Cement and Concrete Alliance to accelerate low-carbon solutions18 January 2024, Published under Cement NewsThe Decarbonised Cement and Concrete Alliance (DC2) is a new US-based coalition dedicated to growing awareness around policies that will accelerate the adoption of novel carbon-reducing solutions in infrastructure. DC2 is formed of 10 companies advancing new technology to reduce emissions in cement and concrete: Biomason, Blue Planet Systems, Brimstone, CarbonBuilt, Chement, Fortera, Minus Materials, Queens Carbon, Sublime Systems, and Terra CO 2 . Member companies are all focussed on del... |