Cement News tagged: Corporate
Raysut Cement Co announced a change of board member
Raysut Cement Co informed the Muscat Stock Exchange on 18 February that Mubeen Jaleel Khan resigned as a board member due to personal reasons. This was effective from 15 February 2024. Subsequently, the company announced that the Capital Market Authority (CMA) had appointed Shabib Mohammed Saif Al Darmaki as the new board member, succeeding Mr Mubeen. This is effective from 15 February 2024....
Cementos Molins appoints Javier Sueiras as CIO
Spain-based Cementos Molins has named Javier Sueiras as its new Chief Information Officer (CIO). Mr Sueiras will lead the IT Solutions and Services area, focussing on promoting strategic technology and digital initiatives. His responsibilities includes the development and implementation of new processes and advanced technological solutions to enhance different areas of Cementos Molins, imp...
Vicat posts better than expected results in 2023
Vicat posted 2023 EBITDA of EUR740m, a rise of 30 per cent compared to 2022, an improvement on analysts CIC Market Solutions’ expectations of EUR709-716m. Several factors account for Vicat's strong financial results, claims CIC Market Solutions. Despite a sharp downturn in the new housing segment in Europe (41 per cent of revenues, and 31 per cent in France), consolidated volumes were up ...
Crown Cement's net profits rise 649% in 1HFY23-24
Crown Cement PLC , one of Bangladesh’s leading cement manufacturers, recently uploaded its financial results on the Dhaka Stock Exchange (DSX). The company witnessed a hefty surge in profit between July and December 2023 due to higher sales and other income from the shipping business. It earned a profit of BDT706.18m (US$6.436m) compared to BDT94.28m in July-December 2022, a YoY increase of 6...
Summit reports 10% revenue advance in 2023
Summit Materials has announced a 19.8 per cent YoY increase in net revenue to US$613.1m in the fourth quarter of 2023. Adjusted EBITDA over the same period advanced by 14.5 per cent to US$136.5m. The three-month period saw its aggregates business report a 5.7 per cent YoY increase in sales volumes, while cement sales volumes declined 11.1 per cent. Ready-mixed concrete volumes were up 14.8 p...
Hoffmann Green posts 78% YoY increase in sales volumes
Hoffmann Green Cement Technologies has reported revenue of EUR6m in 2023, a 2.7 times increase on the previous year. According to the company, over the past three years, revenue has multiplied by 12, indicative of what it calls its "uninterrupted growth trajectory". Revenue for 2023 corresponds to EUR4m from the sales of cements, mainly H-UKR technology, and EUR2m from the licensing contract...
Lafarge Canada completes transition to greener cement
Lafarge Canada has announced the full transition of production from traditional general-use cement to OneCem ® , a greener product that results in significantly lower CO 2 emissions, at its St-Constant cement plant in Quebec. “We are excited to take another crucial step in our sustainability journey. The transition to OneCem production at our St-Constant plant indicates Lafarge Canada...
Gulf Cement Co sees revenue advance 33% YoY
Gulf Cement Co has posted revenue of AED462.7m (US$125.99m) for 2023, up 33 per cent from the AED348.1m reported in the previous year. For 2023 the company saw a loss of AED21.84m versus a loss of AED30.46m in 2022. According to the company, the losses are the result of challenges including an increase in supply compared to demand, and falling cement and clinker prices in the local and ex...
Confidence Cement’s net profit rises 25% in 1HFY23-24
Confidence Cement PLC , Bangladesh’s leading cement manufacturer, recently announced its financial results on the Dhaka Stock Exchange (DSX). The company reported a profit after tax of BDT434.1m (US$3.96m) between July and December 2023 (six months) against a profit of BDT346.3m earned during the same period last year. This translates into a growth of 25.34 per cent in profit due to a fall in...
Vicat reports 8% growth YoY in 2023
Vicat has reported 8.1 per cent YoY growth in consolidated sales to EUR3.94bn in 2023, compared to EUR3.64bn in the previous year. Over the same period EBITDA has improved by 29.8 per cent from EUR570m to EUR740m. The EBITDA margin has expanded by 3.1 points from 15.7 per cent to 18.8 per cent. The company attributes the advance to its “geographically balanced” portfolio benefiting from cash...
Medcem announces terminal partnerships in UK
Turkey’s Medcem has announced a partnership with Brett Concrete, one of the largest independent concrete companies in the UK, to establish a terminal at Sheerness Port in Kent, UK. The terminal, which will have a storage capacity of 80,000t, is expected to be operational by July 2024. According to Medcem, the new facility will handle various cementitious products, primarily dry ash. Medc...
Kohat Cement Co profits grow by 24% in 1HFY23-24
Kohat Cement Co Ltd announced its financial result for 1HFY23-24 on the Pakistan Stock Exchange website on 14 February, posting a profit after tax (PAT) of PKR4.453bn (US$15.9m) compared to a PAT of PKR3.578bn in the same period last year (SPLY). This translates into a growth of 24 per cent YoY. On the other hand, the profitability in 2QFY23-24 advanced by 14 per cent YoY to PKR2.224bn compa...
Lebap Cement exceeds 1Mt production in 2023
The Lebap cement plant in Turkmenistan produced more than 1Mt of cement of various grades last year. About 107,500t of cement were sent to neighbouring Uzbekistan last year, reports Turkmenportal. The plant’s specialists are optimistic about the future, planning to increase product production along with improving its quality indicators.
Holcim to invest US$55m in Tabasco mill
Holcim Mexico plans to invest US$55m in the construction of a new grinding mill at its plant in Macuspana , Tabasco, Mexico. The new mill will increase cement capacity at the facility to 1.5Mta. This investment in Tabasco reflects our firm belief in the potential of southeastern Mexico and our commitment to the sustainable development of the region," said Jaime Hill, Holcim Mexico's CEO,...
Freehill Mining to supply Cementos Melón
Australia-based Freehill Mining Ltd has secured a purchase order from Chile’s Cementos Melón with a gross sales value of approximately US$185,000. The purchase order is for the supply of material to Melón’s Coquimbo cement plant from Freehill’s 100 per cent-owned Yerbas Buenas project in Maule Region, Chile. The material will be delivered over a two-month period, likely to commence in mid-Ma...
Oficemen signs decarbonisation technology agreement with Enagás
Spain’s cement association, Oficemen, and natural gas transmission company Enagás SA have signed an agreement to jointly explore decarbonisation technologies. Both organisation will collaborate in the analysis and potential development of infrastructure to transport H 2 , CO 2 and O 2 . Signed by Alan Svaiter, Oficemen president, and Arturo Gonzalo Aizpiri, CEO of Enagás, the two-year agreem...