Cement News tagged: Corporate
NCCB appoint new chairman
Neeraj Akhoury, president of the Cement Manufacturers’ Association and MD of Shree Cement Ltd, has been appointed as the chairman of the National Council for Cement and Building Materials (NCCBM) for a span of two years (2023-24). The decision was taken at a meeting of the Board of Governors of NCCBM recently held at Vanijya Bhawan, New Delhi. Before joining Shree Cement, in October 2022, M...
Dangote Cement attracts substantial investment
Dangote 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 ...
Aker Carbon Capture and MAN Energy collaborate on CCUS
Aker Carbon Capture and MAN Energy Solutions have signed a Memorandum of Understanding to jointly pursue opportunities related to carbon capture, utilisation and storage (CCUS) and CO 2 compression in the North American market. The agreement leverages MAN’s expertise in compressor technology and system integration, as well as Aker Carbon Capture’s proven amine technology and carbon capture pr...
Lucky Cement expected to post strong financial results
Pakistan cement manufacturers, listed in Pakistan’s Stock Exchange (PSX), are yet to start posting their financial results on the bourse for 2QFY23-24 and 1HFY23-24. Mixed results are expected, due to the high construction cost, cement bag and steel prices, unviable interest rates and peak inflation. However, Lucky Cement Ltd ,which is scheduled to announce its 2QFY24 financial result on ...
PPC welcomes new executive committee
South African cement producer PPC has restructured its executive committee to help boost the company’s profitability amidst forecasts of low cement demand across the country, according to The Herald. Mokate Ramafoko has been appointed chief revenue officer (CRO), responsible for boosting PPC’s top line, while Kevin Ross has been named as the new chief legal and compliance officer and com...
Carthage Cement reports record turnover
Tunisia-based Carthage Cement closed 2023 with a turnover of TND431m (US$138.7m), up 18 per cent when compared with the company’s turnover in 2022, driven by its cement and aggregate business. Domestic turnover increased 22 per cent to TND339m in 2023 from TND278m in 2022. Export turnover was stable at TND57m. Aggregate sales increased 27 per cent YoY from TND17.6m to TND22.4m in 2023. Co...
FLSmidth sells MAAG to Solix
FLSmidth Cement sold its MAAG gears and drives business to Sweden-based investment company, Solix Group AB. The transaction is expected to close during the 1Q24 and includes all related assets, including intellectual property, technology, employees and customer contracts. The divestment of the MAAG business is in line with FLSmidth Cement’s GREEN’26 strategy, which in combination with a grea...
Shree Cement begins production at Nawalgarh plant
India’s Shree Cement has commenced commercial production at its 4.2Mta cement plant in Nawalgarh . The facility, which is located at Village Gothra, Nawalgarh Tehsil, Rajasthan, began production on 22 January 2024. This latest plant forms part of the cement producer’s plans to reach a cement production capacity of 80Mta by 2030.
UltraTech Cement records consolidated net sales of INR164bn
UltraTech 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 v...
Adani Group ponders new cement plant in Godda
Adani Group is considering to build a cement plant in Santhal Pargana, having set up a 1600MW thermal power plant in Godda that will come on-stream mid-2024. A company spokesperson said: “In keeping with our groups expansion plans, we are considering a feasilbility study to set up a cement plant, most probably in Godda.” The proposed plant will use fly ash from the company’s existing pow...
Hetauda Cement to resume production in February
Following closure for three months due to a coal shortage, Nepal-based Hetauda Cement Industries Ltd is expected to resume production at its plant in Makanwanpur in the first week of February, according to República. Hetauda Cement Industry's General Manager, Basanta Raj Pandey,said that the plant management has requested the Office of the Prime Minister, the Council of Ministers and th...
Ambuja Cements to invest INR14bn in 6Mta Telangana plant
Ambuja Cements will invest INR14bn (US$168.3m) in the construction of a 6Mta cement plant in Telangana, India. The plant will be built on a 70-acre plot, said the company in a regulatory filing. Ambuja Cements is part of the Adani Cement Industries and operates 36.5Mta of cement capacity installed in 16 cement plants across India.
Southern Province appoints new chairman and deputy
Saudi Arabia-based Southern Province Cement Co has appointed Saad Bin Abdulaziz Alkroud as chairman of the Board of Directors. Mansour bin Abdulaziz Al Saghir was named as vice chairman and Saudi Al Burgan as secretary of the Board of Directors.
Crown Cement kicks start its sixth unit in Bangladesh
Md Mozharul Islam, senior general manager and company secretary of Crown Cement, has announced that the company was able to finally start commercial production of its sixth unit earlier this month after deferring it several times. The announcement says that commercial production of the sixth unit of Crown Cement PLC, with a production capacity of 8280tpd installed at its factory premises...
Summit completes deal with Argos USA
Summit Materials has successfully completed its US$3.2bn combination with Argos North America Corp, the US operations of Cementos Argos SA . The combined company will be known as Summit Materials with Argos holding around a 31 per cent share. “Today, we are excited to begin a new chapter at Summit Materials,” said Anne Noonan, Summit Materials' president and CEO. “As we transition into ...
Holcim's ECOCycle® recognised by World Economic Forum
Holcim ’s ECOCycle ® circular technology has been named a “Circularity Lighthouse in the Built Environment”, in a joint initiative between McKinsey & Company and the World Economic Forum announced at this year’s annual meeting in Davos. The Circularity Lighthouse designation recognises pioneering solutions that demonstrate a novel, distinctive circularity approach, proven and substantial imp...