Cement News tagged under: corporate
City Cement predicts 8% cost increase28 February 2024, Published under Cement NewsCity Cement has said that its total costs are expected to advance by eight per cent following the increase in the price of fuel products used in cement products that was announced by Saudi Arabian Oil Co (Aramco) last month. According to Mist News, the direct financial impact is expected to be seen from the first quarter of 2024, although the company added that its investments in alternative fuel and waste heat recovery systems had helped to mitigate some of the fuel price increase. |
Adbri reports 13% revenue rise in 202327 February 2024, Published under Cement NewsAdbri Ltd has reported revenue of AUD1922.9m (US$1259m) in 2023, up 13.1 per cent from the AUD1700.3m seen in the previous year. Statutory EBITDA advanced 5.2 per cent YoY from AUD282.6m in 2022 to AUD297.4m the following year, with underlying EBITDA coming in at AUD311m in 2023, up 30.9 per cent YoY. Statutory net profit after tax in 2023 stood at AUD92.9m, down 9.5 per cent from AUD102.6m in the previous year, while underlying net profit after tax was up 43.8 per cent YoY over the same p... |
Martin Engineering expands in Italy27 February 2024, Published under Cement NewsUS-based bulk handling equipment specialist Martin Engineering has opened a new facility in Italy. The move follows a restructuring of the company’s Italian business to help improve growth and enhance customer service. Having been present in Italy for more than 30 years, the move to a new warehouse near Monza forms part of the company’s strategy to widen its ability to solve bulk handling problems in sectors such as recycling, glass, steel, paper and ports. The company’s range of CleanScr... |
Fauji Cement posts 20% sales increase in 1HFY23-2427 February 2024, Published under Cement NewsPakistan’s Fauji Cement Co Ltd has reported sales of PKR40.35bn (US$145.75m) in the1HFY23-24, ended 31 December 2023. This compares to PKR33.67bn in the same period a year earlier, marking a 19.83 per cent YoY increase. Net profit over the same period advanced by 3.83 per cent from PKR5.079bn to PKR5.273bn. Over the six-month period, the cost of sales increased by 17.32 per cent from PKR23.434bn to PKR27.493bn, while gross profit came in at PKR12.858bn, up 25.59 per cent on the PKR10.23... |
Thatta Cement reports profit in 1HFY23-2427 February 2024, Published under Cement NewsPakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significant improvement in gross profit during this period. THCCL's net sales increased to PKR3.12bn from PK... |
Companies circle for InterCement's assets26 February 2024, Published under Cement NewsCompanhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações (InterCement), according to a local source. InterCement has commented that it has received a series of inquiries and expressions of interest in its assets during recent months. BTG Pactual Bank is assisting in evaluating strategic alternatives, such... |
Dalmia Cement goes from 'Future today' to RCF expert26 February 2024, Published under Cement NewsDalmia Cement (Bharat Ltd) is rebranding from its current 'Future Today' slogan to roof column foundation (RCF) expert. The aim is to grow Dalmia Cement's brand faster than the Indian cement sector's forecast growth. Dalmia Cement's COO, Sameer Nagpal, says the target is to reach 14-15 per cent growth at Dalmia Cement against an industry average expansion of 10 per cent. RCF will tie Dalmia Cement closer to retail customers as it targets increasing its business-to-consumer (B2C) share fro... |
Bestway Cement Factory reports 1HFY23-24 fall in profit26 February 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 2QFY23-24 (October-December) and 1HY23-24 (July-December 2023) results on the website of the Pakistan Stock Exchange (PSX) on 21 February 2024. The company's net earnings at PKR6.78bn (US$24.25m) in 1HFY23-24 were down 15.9 per cent YoY. The high cost of finance, sales tax, excise duty and expensive cost of sales can be attributed to lesser profit during this period. Its gross sales increased by 31.9 per cent to PKR76.81bn from PKR58.24bn during thi... |
Arabian Cement to penalise CNBM on Rabigh project26 February 2024, Published under Cement NewsArabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are now completed, the project has been delayed due to discussions between CNBM and Sinoma Overseas Devel... |
Emirates Steel Arkan and Magsort collaborate on decarbonisation26 February 2024, Published under Cement NewsEmirates Arkan Steel (ESA) has announced a strategic collaboration with Magsort, a Finnish decarbonisation company, to drive an innovative initiative across ESA's Al Ain cement plant. The partnership, announced at the Cemtech MEA 2024 conference in Dubai last week, positions ESA’s cement operations at the forefront of sustainability and sets the stage for a transformative approach to green cement production. The collaboration will initiate the first large-scale industrial pilot test,... |