Cement News tagged: Corporate
Menzel Elektromotoren to build new factory
Menzel Elektromotoren has signed the construction contract for a new, larger motor plant in Hennigsdorf, near Berlin, Germany. The manufacturer has experienced substantial growth in recent years and has outgrown its present headquarters in central Berlin. “Our new location will feature state-of-the-art machinery, efficient logistics, larger hoist capacities for optimised production process...
Arabian and Najran Cement take drop in net profits
Arabian Cement Co posted revenues of SAR1003m (US$267.5m) in 2021, up 18.5 per cent YoY from SAR871.9m. However, the company saw its net profit after zakat and tax decline by 12.6 per cent to SAR161.5m in 2021 from SAR184.9m in 2020. Meanwhile, Najran Cement Co reported a 6.7 per cent drop in revenues to SAR581.6m in 2021 from SAR623.2m in 2020. Its net profits after zakat and tax fell...
Pikalevsky launches CEM I delivery in big bags
Pikalevsky Cement Co , part of Mikhailovsky Combine of Building Materials, has launched the supply and delivery of CEM I 42.5N cement in 1t big bags. The bags have a soft moisture-proof packaging. The company has launched a closed cement calibration complex, according to Esmerk Russian News.
Soyuzcement elect new board chairman and executive director
At the General Meeting of the Union of Cement Producers 'Soyuzcement', Vyacheslav Shmatov, general director of JSC Eurocement group , was appointed to the position of chairman of the Board. Vyacheslav Shmatov has been working in the cement business for over 11 years, managing assets and operating activities of enterprises, and is responsible for the strategic development of one of the larg...
AdBri records revenues of AUD1569m in 2021
AdBri reported revenue of AUD1569.2m (US$1135m) compared to AUD1454.2m in 2020 with increased sales volumes experienced for all products other than lime. Strong sales demand was seen across all market segments, including residential, commercial, infrastructure and mining. Reported net profit after tax (NPAT) attributable to members increased from AUD93.7m to AUD116.7m. Net debt incr...
Dewan Cement returns to profit in 2QFY21-22
Pakistan-based Dewan Cement Ltd posted a turnover of PKR4149.6m (US$23.4m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR931.6m in the 2QFY20-21. In the 2QFY21-22, the company achieved an operating profit of PKR68.8m, an improvement when compared with the PKR334.5m loss in the 2QFY20-21. Net profit reached PKR130.7m, up from a loss of PKR266.6m in the equivalent period of t...
East African Portland Cement narrows half-year loss
Kenya-based East African Portland Cement Co , owned by Holcim , has narrowed its half-year loss to KES907.1m (US$8m) in the six months to December 2021 from KES1.035bn in the equivalent period of the previous year. This was achieved despite a decline in the company’s revenues to KES967.7m in the 1HFY21-22 from KES1.4bn in the 1HFY20-21. The company attributed the improved loss result to ...
Misr Beni Suef Cement net profit surges to EGP169m in 2021
Egypt-based Misr Beni Suef Cement reported a net profit after tax of EGP169.05m (US$10.8m) for 2021, surging from EGP76.38m in 2020, according to the company’s financial statement filed to the Egyptian stock exchange (EGX). Sales slipped to EGP1.12bn last year from EGP1.19bn in 2020.
Bianca Nasser appointed as new Votorantim Cimentos finance and IR VP
Votorantim Cimentos has appointed Bianca Nasser as the company’s vice president of finance and investor relations (IR), effective 1 March 2022. Ms Nasser succeeds Osvaldo Ayres Filho, who will remain at Votorantim Cimentos as director of cement, logistics and adjacent business operations. With a bachelor’s degree in Economics from the Federal University of Rio de Janeiro (UFRJ) and a maste...
Holcim names new head of North America
Holcim has appointed Toufic Tabbara as region head for North America and member of the group executive committee, effective 1 march 2022. Mr Tabbara is currently CEO of US Cement and joined the Holcim Group in 1998 as director of strategy and development in the US. He has a strong track record of leading the company’s cement, ready-mixed concrete and aggregates businesses in the US, Canada...
Martin Marietta Materials Inc enters into agreement to sell Redding plant
Martin Marietta Materials Inc announced that it has entered into a definitive agreement to sell certain West Coast cement and ready-mixed concrete operations to CalPortland Company for US$250m in cash. The operations include the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California. Ward Nye, Chairman, President and CEO of Marti...
Holcim records net sales of CH6834m in 2021
Holcim recorded net sales of CH6834m (US$7367m) for 2021 were up 11.3 per cent on a like-for-like (LfL) basis and 16 per cent higher in Swiss francs, compared to the prior year. The record growth in net sales was driven by volume growth in all regions and business segments and strong pricing. Cement sales in 2021 totalled 200.8Mt, up from 190.4 per cent in 2020, a rise of five per cent...
CRH prepares Ukraine business contingency plans
Ireland-based CRH has prepared contingency plans to address the fallout of Russia’s invasion into Ukraine. The company is closely monitoring the situation in the country as it has the largest Ukrainian exposure of any Irish business. CRH entered Ukraine in 1999 through the acquisition of PJSC Podilsky Cement . In the 2011-2013 period, the company expanded its presence through the acquisit...
Cemex makes corporate governance changes
Continuing its longstanding commitment to develop its corporate governance towards global best practices, Cemex has announced a series of significant corporate governance changes. Beginning with Cemex’s ordinary general shareholders meeting scheduled to be held on 24 March 2022, each director candidate will stand for election on an individual basis, meaning that voting at the meeting w...
Malayan Cement swings into the black in 2QFY21-22
Malaysia-based cement producer Malayan Cement Berhad reported a surge in revenues to MYR821.045m in the 2QFY21-22 (ending 31 December 2021, up from MYR350.47m in the 2QFY20-21. The company also turned a pretax loss of MYR-6.398m in the 2QFY20-21 to a pretax profit of MYR79.344m in the 2QFY21-22. Net profit in the second quarter reached MYR54.918m, a significant improvement when compared with ...
Cementos Molins earns revenues of EUR968m in 2021
Cementos Molins closed 2021 with revenues amounting to EUR968m, up 25 per cent YoY. The gradual economic improvement contributed to spur activity across all countries, with cement and concrete volumes growing by double digits. EBITDA achieved a record EUR242m in 2021, advancing 18 per cent YoY. The strong results improvement is driven by increasing volumes, mix and price management, as...