Cement News tagged: Corporate
India Cements narrows 2Q loss
The India Cements Ltd reported a lower net loss of INR810m (US$9.7m) in the 2QFY23-24 compared with a net loss of INR1380m in the year-ago period. EBITDTA for the 2QFY23-24 reached INR140m vs -INR870m in the 2QFY22-23, with the company seeing a net profit for the coming quarters, as price realisations improve and cost pressures soften. Total income slipped 2.5 per cent to INR12.28bn in the...
Holcim Romania inaugurates new aggregates plant
Holcim Romania has opened a new EUR3m aggregates plant in Neudorf, Arad province, western Romania. The first deliveries of the new plant have been completed this month, said Holcim. "I am glad that with the opening of the new aggregates plant, the fifth in the country, we are closer to our customers in the western part of the country, with whom we want to build successful projects, contrib...
Pioneer Cement’s profits expand 60% in 1QFY23-24
Pioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71...
Crown Cement earns BDT610.34m in FY22-23
For the July 2022-June 2023 financial year, Bangladesh cement producer, Crown Cement earned BDT610.34m (US$5.54m) against the loss of BDT229.27m incurred in FY21-22 (July 2021-June 2022). This was possible due to robust sales growth and increased product prices. In FY21-22 the company incurred losses due to rising raw material costs, foreign exchange losses and increased freight charg...
CEMEX celebrates UK Technical Apprenticeship Programme
CEMEX UK is celebrating the growth and success of its Technical Apprenticeship Programme, based at the company’s National Technical Centre in Southam, Warwickshire, UK. Following the initial programme launch in May 2022, four apprentices have enrolled. The first apprentice to join the scheme has successfully completed Level 3 and is starting a new CEMEX apprenticeship degree course. CEMEX...
Chattanooga plant celebrates 100-year anniversary
Buzzi Unicem USA’ s Chattanooga plant observed its 100th anniversary with a celebration held at the Chattanooga Convention Center this past weekend. Over 300 current employees, retirees, customers and other special guests attended the event. Highlights of the event included a history walk featuring photos and historical facts about the plant over the years, and the Nervi exhibit, displayi...
Kohat Cement Co's profit rises by 25% YoY
Kohat Cement Co Ltd (KOHC) has announced its financial result for 1QFY23-24 at the Pakistan Stock Exchange (PSX) posting a profit after tax (PAT) of PKR2.230bn (US$7.92m) compared to a PAT of PKR1.785bn in a year ago period up by 25 per cent YoY. The result, highlights by AHL Research, says that the topline during 1QFY23-24 clocked in at PKR11.064bn, displaying a jump of 25 per cent YoY c...
CEMEX refinances US$3bn syndicated credit agreement
CEMEX has successfully refinanced its US$3bn syndicated credit agreement, extending the maturity to 2028. The refinanced credit agreement consists of a US$1bn five-year amortising term loan, and a US$2bn five-year committed revolving credit gacility. This represents a reduction of US$500m in the term loan and an increase of US$250m in the revolver from the prior facility. The signing of the ...
Heidelberg Cement earns a net profit of BDT505.10m in 9M23
HeidelbergCement Bangladesh Ltd earned a net profit of BDT505.10m (US$4.58m) in the nine months of January to September 2023 from a loss of BDT241.31m in the same period last year, according to the financial result of the company. The result tabulation shows that higher sales enable it to earn profit as its revenue rose eight per cent YoY to BDT13.86bn during this period. Warehousing, d...
Caribbean Cement sees 58% rise in 3Q net income
Jamaica’s Caribbean Cement Co , part of the TCL Group , reported revenues of JMD7bn (US$45.4m) in the third quarter of 2023, up 13.4 per cent YoY from JMD6.2bn. Operating earnings rose by 36.8 per cent to JMD2.6bn in the 3Q23 from JMD1.9bn as revenue increased and costs were contained due to a drive in operational efficiency. The company’s consolidated net income increased by 58.3 per ce...
Cementarnica Usje sees 9M net profit up 77%
North Macedonia-based Cementarnica Usje , owned by Greek cement producer Titan, reported 77 per cent YoY increase in net profit to MKD1.1bn (US$19m) in the January-September 2023 period. The company’s operating expenses declined 17 per cent YoY to MKD3.4bn in the 9M23 as material costs fell 23 per cent YoY to MKD1.9bn. It total operating revenue slipped by two per cent YoY to MKD4.8bn in ...
Flying Cement Co reports 55% rise in 9M net profit
Pakistan-based Flying Cement Co Ltd reported unaudited net sales of PKR1147m in the quarter ended 30 September 2023 (1QFY23-24), up 27.3 per cent when compared with the year-ago period when net sales reached 901m. The company’s gross profit increased by 77.4 per cent to PKR239.9m in the 1QFY23-24 from PKR135.2m in the 1QFY22-23. Operating profit advanced by 81.5 per cent to PKR212.4m from ...
Rockfort plant not damaged by earthquake
Caribbean Cement Co Ltd says it Rockfort plant is operating as usual despite the earthquake on 30 October 2023. Carib Cement has denied reports that its Kingston plant in Jamaica was damaged due to a 5.6 magnitude earthquake. The company said videos shared on social media were false. It said its own investigations have revealed no damage at the plant and that operations ar...
Wei Rushan becomes new WCA president
The World Cement Association has appointed Wei Rushan to be president of the association, replacing Founding President, Song Zhiping, on his retirement last week. Mr Wei has been president and executive director of China National Building Materials Co Ltd (CNBM), the world’s largest cement producer, since December 2022. Wei Rushan has extensive experience in strategy, investment and capital...
UltraTech to raise Indian cement capacity to 182Mta
UltraTech 's Board of Directors at its meeting held today, approved the third phase of growth with an investment of INR130,000m (US$1561m) towards increasing the capacity by another 21.9Mta with a mix of brownfield and greenfield projects. Kumar Mangalam Birla, chairman of the Aditya Birla Group , said, “Over the past seven years, UltraTech has strategically invested over INR50,000 cr...
Cementos Molins posts revenues of EUR1079m in 9M23
Cementos Molins has announced its financial results for the first three quarters of 2023, achieving revenues of EUR1079m, up 13 per cent compared to same period in 2022. The company reached sales growth across all business segments and most regions. On a LfL basis, revenues rose by 34 per cent. EBITDA reached EUR278m, representing a 33 per cent increase compared to the same period last...