Cement News tagged under: corporate

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Quang Ninh to delist 38.72m shares

24 September 2020, Published under Cement News

Vietnam’s Hanoi Stock Exchange (HNX) has announced that it will delist 38.72m shares of Quang Ninh Construction & Cement on 29 September. The stock of QNC will have 28 September as the last trading date, according to the HNX website. The move aims to help QNC focus on the restructuring of its business activities to improve performance. In the first half of 2020, QNC posted a net profit of VND61bn (US$2.63m) and saw revenue up 22.6 per cent YoY to VND711bn.

Fauji Cement sees 17% fall in net sales

24 September 2020, Published under Cement News

Pakistan’s Fauji Cement has released its full annual report for the FY19-20 period, ending 30 June 2020, showing a 17.1 per cent YoY fall in net sales to PKR17.23bn (US$103.7m) from PKR20.79bn. EBITDA also declined to PKR1.79bn from PKR6.04bn in the FY18-19. The company’s operating profit dipped to PKR11.67m from PKR4.46bn in the previous fiscal year. It also saw a net loss of PKR59.38m against an PKR2.82bn profit in the FY18-19. "During the FY19-20, the cement industry faced a number of c...

Egyptian Cement to inaugurate plant in 2021

23 September 2020, Published under Cement News

Egyptian Cement Group has announced plans to inaugurate a new plant in 2021, according to Ahmed Abou Hashima, CEO. The facility is located in Sohag and has a total investment cost of EGP4.5bn (US$285.79m). Egyptian Cement’s new factory will be the group’s "first investment seed" in the coming year, marking the first business expansion since the COVID-19 pandemic.

Total Lubrifiants acquires Lubrilog SAS

23 September 2020, Published under Cement News

Total Lubrifiants, the world's fourth-largest international lubricants company, has acquired Lubrilog SAS.  Lubrilog SAS is a French company, based in Romans-sur-Isère, specialised in the formulation and production of very high-performance synthetic lubricants many of which are used in the cement industry. The high-quality products of Lubrilog are tailored to specific customer needs and able to meet a wide range of extreme technical constraints. "This acquisition will create value for...

Arabian Cement sets sales targets

22 September 2020, Published under Cement News

Egypt’s Arabian Cement Co has set a domestic sales target of 3.94Mt of cement in 2020, the same value as last year, according to Sergio Alcantarilla, company CEO. Despite outlining the company’s year-end target for the local market, Mr Alcantarilla said that it is difficult to predict its exports in 2020. He noted that this year, the company only sold 2.56Mt during the 8M20 and exported 215,000t. This compares to a total of 2.51Mt sold during the same period last year, of which 283,000...

Bashundhara Group plans third production unit

22 September 2020, Published under Cement News

Bangladesh’s Bashundhara Group is planning a BDT10bn (US$117.7m) investment to significantly increase its manufacturing capacity through the establishment of a third production unit. Bashundhara's daily production capacity will reach 25,000t, according to The Daily Star. The existing units produce around 14,000tpd. "Our target is to export to the Seven Sister states in India as the demand of cement in Bangladesh and India's northern states will increase rapidly in the coming days due to...

Cemex included in the Fortune 2020 Change the World list

22 September 2020, Published under Cement News

Cemex SAB de CV   has been again included in the "Fortune 2020 Change the World" list, which highlights companies around the world that have generated a social impact through activities that are part of their business strategy. This is the third time that Cemex has received this distinction.   Fortune recognised Cemex's efforts in social impact business models. One of the   initiatives was the rapid deployment of solutions to meet the current challenges caused by the COVID- 19 pandem...

Cementos Fortaleza inaugurates Progreso plant

21 September 2020, Published under Cement News

Elementia-owned Cementos Fortaleza inaugurated its new US$25m cement plant in Progreso, Yucatan, Mexico. Yucatan state governor, Mauricio Vila Dosal, and Elementia CEO, Jaime Rocha Font attended the ceremony. The production facility has a capacity of 0.25Mta and incorporates state-of-the-art technology. It will complement the company’s current coverage of the Mexican market and is in line with its present expansion strategy. At the end of 2019, Elementia’s cement operations held a market...

HeidelbergCement Schelklingen plant receives Germany's highest bucket elevator

21 September 2020, Published under Cement News

Germany-based Beumer Group has commissioned Germany’s highest bucket elevator at HeidelbergCement’s Schelklingen plant near Ulm. The order is part of a project by thyssenkrupp Industrial Solutions to modernise the cement works and comply with new emission limit values. As part of the thyssenkrupp Industrial Solutions project, a new preheater tower was built at the HeidelbergCement’plant. The Beumer Group bucket elevator is used to feed raw meal to the kiln. This high-capacity belt bucket el...

High Court orders removal of Birla Corp director

21 September 2020, Published under Cement News

India’s Calcutta High Court has restricted Harsh Vardhan Lodha from holding any position in MP Birla Group companies with immediate effect. As a result, he will no longer be the chairman of Birla Corp Ltd. The decision will reportedly be appealed by the company, according to the Business Standard. "Shareholders elected Harsh Varshan Lodha as a director of Birla Corp with an overwhelming majority of 98 per cent. Mr Lodha being otherwise not disqualified from holding the office of director...