Cement News tagged: Corporate
Eastern Province Cement sees revenue jump 28% YoY
Eastern Province Cement Co has posted net income of SAR68m (US$18.13m) in the opening quarter of 2024, up 21.4 per cent YoY. Cement sales over the three-month period came in at 630,000t, on a par with the same period a year earlier but up seven per cent on the 4Q23. Selling prices averaged above SAR300(US$80)/t for the second consecutive quarter, reports Aljazira Capital. Revenue for the...
CRH continues to invest in Ukraine
CRH has invested a total of US$80m in Ukraine since the start of the Russia-Ukraine conflict, according to Guillaume Cavalier, president of CRH in Central and Eastern Europe. This brings the company’s investment in Ukraine over its 25-year history in the country to over US$500m, reports bne IntelliNews. “Investing in the expansion of production now is crucial to ensure the potential gro...
Vulcan Materials posts fall in revenues in 1Q24
US-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came in at US$305m (1Q23: US$302m) while adjusted EBITDA stood at US$323m (1Q23: US$338m). Commenting on the results, Tom Hill, Vulcan Materials' chairman and CEO, said, "Our teams' solid execution helped us overcom...
AfriSam enhances road durability with Roadstab cement
AfriSam 's Roadstab cement is a specialised, high quality composite cement engineered specifically for road stabilisation tasks. The product is designed to optimise the properties of soils used in road construction, notably by reducing their plasticity and enhancing their strength and stability. The formulation of AfriSam Roadstab Cement aims to address the vital requirements of road constru...
Fauji Cement strives to improve fundamentals and strengthen its investment case
BMA Capital Management Ltd believes Fauji Cement Co Ltd (FCCL) will reap the benefits of an uptick in local cement demand by FY25, as well as strengthening market share and efficiency gains through new lines and the incorporation of green technology. In addition the company could benefit from an efficient fuel and power mix to enhance margins, strong pricing power to support profitability ...
Heidelberg Materials UK acquires Mick George Ltd
Heidelberg Materials UK has completed its acquisition of leading recycling company Mick George Ltd (MGL), following approval from the Competition and Markets Authority (CMA). MGL has an annual turnover of around GBP220m (US$276.4m) and specialises in recycling and waste management services. It operates around 40 recycling facilities, waste transfer stations, aggregate quarries and ready-mixe...
Heidelberg Materials sees revenue dip 8% YoY in 1Q24
Heidelberg Materials has reported an eight per cent YoY decline in revenue to EUR4488m in the opening quarter of 2024. According to the company, the fall was the result of lower sales volumes due to poor weather conditions in key regions and a reduced number of working days in the quarter, although these factors were partially offset by positive price momentum in the individual core markets....
Birla Corp reports 127% jump in net profit
Birla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growth in net profit in the March quarter, despite unusually weak market conditions. After steadily ramping up the Mukutban unit, the company’s cement division achieved a capacity utilisation rate of 97 per cent for the Ma...
Cool Planet signs carbon capture MoU with Carmeuse
Cool Planet Technologies Ltd, based in Guildford, UK, has signed an Memorandum of Understanding (MoU) with Carmeuse Technologies SA, a key global producer of lime, limestone and mineral-based products, to collaborate on decarbonisation technology developments, using Cool Planet's advanced membrane-based carbon capture technology. Cool Planet's technology will be used to build a pilot demons...
EAPC recommissions Athi River plant
East African Portland Cement (EAPC) has recommissioned its Athi River plant in Kenya, boosting the company’s cement production capacity by 1Mta over the next two years, reports The Star. The plant has been closed for a month for renovations and maintenance. It also underwent the installation of a new kiln shell in 2022, resulting in a 38 per cent expansion in revenue. This latest closure a...
Saint-Gobain signs Romanian energy deal
Saint-Gobain has signed a five-year renewable electricity supply agreement (power purchase agreement or PPA) in Romania with energy supplier OMV PETROM SA. The contract covers the purchase of green electricity from wind and photovoltaic sources provided by OMV PETROM SA and will start in January 2026. OMV PETROM SA will provide around 800GWh of green electricity for a period of five yea...
Dangote Cement announces Philip retirement
Dangote Cement has announced the retirement of its Deputy Group Managing Director, Mathew Philip. Mr Philip retired from the cement producer on 30 April 2024, reports Business Day. “The company extends its appreciation to Mathew for his significant contributions and improvement to the operations of the business and wishes him well in his future endeavors,” said the company in a statement. ...
InterCement signs exclusivity agreement with CSN
Following its market announcement of 23 February 2024, InterCement Participações SA announced that in the context of the competitive process, organised by Banco BTG Pactual, it has carried an agreement on 1 May 2024 to provide for exclusivity until 12 July 2024 to Companhia Siderúrgica Nacional (CSN) in terms of the potential acquisition of a 100 per cent stake in InterCement's stock. How...
Heidelberg Materials acquires Malaysia's largest pulverised fly ash supplier
Heidelberg Materials has entered into a definitive purchase agreement to acquire ACE Group,the largest supplier of pulverised fly ash in Malaysia, effective 1 May 2024. The acquisition strengthens circularity within Heidelberg Materials’ value chain in Southeast Asia, according to the company. Reusing fly ash from energy generation contributes significantly to reducing the CO2 intensity of c...
Wietersdorf invests in renewable power in Slovenia
Austria-based Wietersdorfer Group will be participating with Austrian experts in the energy sector to achieve its goal in producing carbon-neutral cement by 2035. Through AAE Gamit, a specialist in renewable energy projects, Wietersdorfer Group will implement wind and solar power projects in Primorska region, Slovenia. Together with Energie AG Oberösterreich and the ÖKOENERGIE Group from W...
Orient Cement posts INR682 4Q net profit
CK Birla Group subsidiary Orient Cement Ltd reported a 1.4 per cent uptick in revenue from operations to INR8.88bn in January-March 2024 when compared with the equivalent quarter of the previous year, when revenue reached INR8.76bn. Total expenses rose marginally to INR7.855bn. The company's net profit edged up by 1.2 per cent YoY to INR681.9m in the 4QFY23-24 from INR673.7m in the year-a...