Cement News tagged under: international
Indian fair trade regulator approves UltraTech’s acquisition of Kesoram cement business21 March 2024, Published under Cement NewsThe Completion Commission of India (CCI) has approved UltraTech Cement ’s proposed acquisition of Kesoram Cement Business , the cement arm of Indian conglomerate Kesoram Industries Ltd . The business is set to be acquired by Mumbai-based UltraTech, as part of a deal made on 30 November 2023. The all-share deal will see UltraTech Cement purchase Kesoram Cement at a valuation of INR76bn (US$914.1m) and will include all the company’s debts. The CCI has also announced its approval of S... |
Indian fair trade regulator approves UltraTech’s acquisition of Kesoram cement business21 March 2024, Published under Cement NewsThe Completion Commission of India (CCI) has approved UltraTech Cement ’s proposed acquisition of Kesoram Cement Business , the cement arm of Indian conglomerate Kesoram Industries Ltd . The business is set to be acquired by Mumbai-based UltraTech, as part of a deal made on 30 November 2023. The all-share deal will see UltraTech Cement purchase Kesoram Cement at a valuation of INR76bn (US$914.1m) and will include all the company’s debts. The CCI has also announced its approval of S... |
Indian cement demand growth to decline in 4QFY23-2420 March 2024, Published under Cement NewsIndia is expected to see a fall in cement demand growth in the final quarter of the current fiscal year (January-March 2024), due to a slowdown in construction activity, adverse weather conditions and uncertainty in the run-up to the elections being held in April and May. According to Business World India, an increase in supply along with more intense competition has also had an adverse impact on cement prices. Reports suggest that prices have already begun to decline, with reductions of ... |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
TPI Polene Power targets 100% renewable fuel use by 202619 March 2024, Published under Cement NewsThailand’s largest waste-to-energy (WTE) project developer and operator TPI Polene Power (TPIPP) aims to cut coal usage as it strives for 100 per cent renewable fuel use by 2026. According to Pakkapol Leopairut, the company’s executive vice-president for accounting and finance, the company will reduce its coal usage by 63.3 per cent YoY from 872,000t this year to 320,000t of coal in 2024. The move to zero coal usage is part of the TPIPP’s “Mission to No Emissions” campaign, which starte... |
Southern Province Cement Co releases its 2023 financial results19 March 2024, Published under Cement NewsSouthern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent from SAR238m in 2022. The significant decrease in profits (after tax and zakat) led to Southern Pro... |
Spanish cement demand falls 1.5% in February18 March 2024, Published under Cement NewsCement consumption in Spain fell 1.5 per cent in February, compared to the same month in the previous year. According to Oficemen, demand in February stood at 1,157,811t, marking a 17,769t contraction versus February 2023. This marks the ninth month in a row that cement demand in Spain has declined. The cumulative figure for the year to date sees consumption down 2.4 per cent YoY, or 53,852t, at 2,187,069t. The last 12 months (March 2023-February) saw consumption come in at 14,447,056t... |
Fremantle Port inflates new clinker dome15 March 2024, Published under Cement NewsFremantle Ports has inflated a 40m-high cement clinker dome at its Kwinana Bulk Terminal in the Outer Harbour, marking the first time such a structure has been installed in Western Australia. Taking 24 hours to inflate, the giant white dome is the second of its type in Australia and is integral to Fremantle Ports’ new import circuit facility which will streamline the importation of clinker. The new clinker circuit project consists of the dome plus a covered conveyor network which will l... |
Holcim Mexico appoints Jorge Gonzalez as CFO15 March 2024, Published under Cement NewsJorge Gonzalez has been named as the new CFO of Holcim Mexico , the Mexican division of one of the largest global producers of building materials. This move, by the company, is reportedly aimed at strengthening their position as an industry leader in sustainable construction materials. The new CFO says, “I am excited to take on this new challenge at a key moment for Holcim Mexico, in which we are accelerating our growth in the country significantly.” This appointment comes after the exe... |