Cement News tagged under: corporate
Holcim acquires concrete construction systems specialist Tensolite05 April 2024, Published under Cement NewsHolcim has signed an agreement to acquire Tensolite, a leading manufacturer of innovative precast and pre-stressed concrete construction systems with US$22m of net sales in 2023 and a strong presence in fast-growing Latin American markets. With plants and a distribution network across Argentina, Paraguay and Uruguay, Tensolite will expand Holcim’s Solutions & Products portfolio and strengthen its geographical footprint. Oliver Osswald, region head Latin America, said: “By acquiring Ten... |
CNBM reports 10% YoY revenue drop04 April 2024, Published under Cement NewsCNBM has reported revenue of CNY210.2bn (US$29.1bn) in 2023, down 10.1 per cent on the previous year. This was primarily attributed to a fall in the group’s basic building materials segment, which was partially offset by an increase in revenue in its engineering technical services segment and an uptick in its new materials segment. Profit attributable to equity holders of the company contracted 52.5 per cent over the same period to CNY3.86bn, while EBITDA declined 14.3 per cent to CNY33.8b... |
Capex falls behind targets for PPC04 April 2024, Published under Cement NewsPPC has announced that its capital expenditure fell behind targets for the period ending March 2024. This was due to a delay in the company’s fly ash project in Zimbabwe, which was announced last November. Delays in accessing the power plant, which halted the design and commercial contract, were also a key factor. PPC stated that, “Capital expenditure for the group remains behind the guidance of ZAR600m [US$32.2m] for the full financial year mainly due to the delay of the fly ash projec... |
Capex falls behind targets for PPC04 April 2024, Published under Cement NewsPPC has announced that its capital expenditure fell behind targets for the period ending March 2024. This was due to a delay in the company’s fly ash project in Zimbabwe, which was announced last November. Delays in accessing the power plant, which halted the design and commercial contract, were also a key factor. PPC stated that, “Capital expenditure for the group remains behind the guidance of ZAR600m [US$32.2m] for the full financial year mainly due to the delay of the fly ash projec... |
Sinai Cement sees sales surge in 202304 April 2024, Published under Cement NewsEgypt’s Sinai Cement has reported a surge in sales, with EGP4.28bn (US$90.68m) posted for 2023, compared to EGP2.34bn in the previous year. A consolidated net loss after tax of EGP121.42m was seen in 2023, down from EGP330.41m in 2022, while the loss per share of the holding company fell from EGP2.48 in 2022 to EGP0.91 in the following year. On a standalone basis, the net loss after tax contracted from EGP319.8m in 2022 to EGP117.58m in 2023. |
Maple Leaf Cement has bought shares in a fertiliser company04 April 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd has acquired and settled 6m voting shares of M/s Agritech Ltd (formerly Pak-American Fertilizers Ltd), the first nitrogenous fertiliser plant built in Pakistan. “Under the above acquisition, Maple Leaf Cement Factory Ltd plus Maple Leaf Capital Ltd (person acting in concert) now hold 44,670,000 voting shares of the target company, ie 11.38 per cent aggregate shareholding (taken together with voting shares already held by MLCL) in the target company’s share ... |
New Holcim Board member proposed04 April 2024, Published under Cement NewsHolcim has proposed Catrin Hinkel, CEO of Microsoft Switzerland, for election to its Board of Directors. She stands for election alongside nominee Michael H McGarry at Holcim’s Annual General Meeting on 8 May 2024. All other members are standing for re-election and Jan Jenisch is proposed for re-election as Chairman of the Board. With the proposed nominations, the Holcim Board will comprise 11 members, 10 of whom are independent according to the Swiss Code of Best Practice for Corporate... |
UltraTech announces two new greenfield plants03 April 2024, Published under Cement NewsUltraTech Cement is investing INR324,000m (US$3.89bn) in capex over the next three years, including two new greenfield plants, which will add an additional 5.4Mta in cement production capacity. The two facilities will be located in Chhattisgarh and Tamil Nadu, taking the company’s total cement capacity to 151.6Mta. According to the company, this capacity is equivalent to more than 150 per cent of the capacity in the USA and 80 per cent of the capacity in Europe. It has taken 36 years f... |
Votorantim prices St Marys Cement Inc debt security notes for environmental performance03 April 2024, Published under Cement NewsVotorantim Cimentos SA has informed the general market that it has priced an offering in the international market of debt securities issued by its subsidiary St Marys Cement Inc , Canada of US$500m with 5.896 per cent yield per annum and 5.75 per cent coupon per annum. The yield will be payable semi-annually on the second day of April and October of each year, starting from 2 October 2024, and maturing on 2 April 2034. The Notes will have an environmental performance indicator (KPI)... |
Buzzi SpA's 2023 regional results see cement sales climb in Italy03 April 2024, Published under Cement NewsBuzzi SpA reported domestic hydraulic binders and clinker sales in Italy up 2.1 per cent in 2023, while the ready-mix concrete output slightly declined 1.4 per cent. The average prices of cement and concrete confirmed their improvement compared to the previous period. Such trend in volumes and prices led to net sales of EUR818.3m, up 12.7 per cent (EUR726.2m in 2022). Ebitda achieved EUR175.2m, more than doubled compared to EUR82m of last year. USA US cement sales closed the year sli... |