Cement News tagged: Corporate
Lafarge Cement Malawi reverts to Portland Cement Malawi
Following a change in Lafarge Cement Malawi Ltd’s shareholding from Holcim to Huaxin, the cement producer has reverted to its original name of Portland Cement Malawi Ltd with immediate effect. “Portland Cement Malawi Ltd will remain the home of our trusted brands which include DuraCrete, SupaSet, Kumanga and Khoma”, said Company Secretary and CFO, Constance Musopole. “Huaxin is among the...
Caribbean Cement to launch Vertua-certified cement
Cemex -owned Caribbean Cement Co will be launching its newly co-branded Vertua-certified cement to support the reduction in carbon emissions by 40 per cent by 2030. “Vertua is a brand that CEMEX worldwide has selected to put on all the low-carbon cement — it's an umbrella, it's a branding. We have a product that has already qualified as Vertua. Every bag you see out there that carries Car...
Semen Indonesia looks forward to 4% FY22 expansion
Semen Indonesia expects to grow 3-5 per cent YoY in FY22, up from two per cent in FY21 as the key market for bagged cement (mainly for home renovations and small home cluster developments) improves. In addition, the property stimulus by the Indonesian government and a high infrastructure budget in FY22 are expected to support sales. A further driver is the improved control of the COVID-19 pan...
HeidelbergCement releases preliminary guidance for 2021 results
In the course of the preparation of the consolidated financial statements of HeidelbergCement AG for the FY21, the revenue and results of the HeidelbergCement Group are in part significantly above the published forecast of the company and the current capital market expectations. The capital market expectations are based on the mean value of the latest consensus estimates of financial analys...
Orient Cement sees 3Q profit fall by 19% YoY
CK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE). Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with IN...
East African Cement Co looks to DR Congo for increased cement sales
East African Portland Cement Co (EAPCC) is looking to target cement sales in the Democratic Republic of Congo (DRC). “In the past 10 years, EAPCC has been missing from the infrastructural agenda due to competition among other challenges. Now we have come up with a five year strategic plan as we want to revamp our operations,” said Oliver M Kirubai, managing director at the EAPCC. “We are t...
Caribbean Cement to pay 2% royalty fees to Cemex
Following shareholder approval Caribbean CementCo Ltd will pay two per cent royalties to its parent company Cemex from January 2022. The agreed fee is equivalent to two per cent of net sales, half of the cap initially telegraphed to shareholders. Caribbean Cement said in a statement that since 2017, when Cemex assumed majority control of Caribbean Cement, the plant at Rockfort has relied on...
BUA Cement brings Kalambaina Line 4 online
On 27 January Nigerian President Muhammadu Buhari inaugurated BUA Cement ’s 3Mta Line 4 at the company’s Kalambaina cement plant in Sokoto, Nigeria. "I am pleased that through these investments, BUA Cement has created employment opportunities for our citizens. Today, BUA is the largest employer of labour in the North-west region,” he said. The president recounted that in 1985 as the then H...
FLSmidth updates financial guidance for 4Q21 and 2021 performance
FLSmidth updated its preliminary full year 2021 revenue guidance replacing its financial guidance provided on 11 November 2021. This improvement was primarily driven by the Capital business in the 4Q21. Revenue is now estimated at DKK5.1bn (US$763.6m) in the 4Q21 and DKK17.6bn (US$2.63bn) for the full year compared to DKK16-17bn previously forecast. EBITDA margin is forest to reach 6.6 ...
Českomoravský Cement plans CZK300m sustainability investment into Radotín
Czech cement producer Českomoravský Cement is preparing an investment of CZK300m (US$13.71m) to improve the environmental performance of its Radotín plant. The purchase of a new vertical mill and other environmental measures will enable the works to reduce CO 2 emissions by 12 per cent and electricity consumption by 24 per cent by 2030. The company intends to select the technology for t...
Bizerte reports 18% increase in sales in 2021
Tunisia-based Les Ciments de Bizerte reported a 17.8 per cent advance in revenues to TND130.8m (US$45.1m) in 2021 from TND111m in 2020. Domestic sales increased by five per cent to TND110.6m from TND105.4m in 2020 while export sales surged from TND5.7m to TND20.2m over the same period. Cement production edged up 2.7 per cent to 673,079t.
Dugongo cement prices see further rise
The price of Dugongo cement in Mozambique has increased yet again, reports Club of Mozambique. As of 24 January 2022, a 50kg bag of 32.5 cement now costs MZN360 (US$5.64). A bag of 42.5 cement now costs MZN340. Since the opening of Dugongo Cimentos in May 2020, the price of its cement has increased three times although the price of cement at many other producers has fallen. In September ...
GCC reports favourable performance in 4Q21 and 2021
GCC reported a 10.9 per cent YoY advance in consolidated net sales to US$257.9m in the fourth quarter of 2021. EBITDA remained stable at US$83.1m with an 31.5 per cent EBITDA margin. Total cement volumes in the US grew by 5.1 per cent, but excluding oil well cement, they fell 5.5 per cent when compared with the 4Q20. Consolidated sales were further supported by a rise in US cement and ready-...
PPC to build 30MW solar plant in Zimbabwe
South Africa-based PPC will build a 30MW solar power facility at its Colleen Bawn clinker plant in Zimbabwe as part of its decarbonisation strategy. The clinker works will use 15MW for its own power needs and feed the balance into the Zimbabwean electricity grid. The project complements the Zimbabwean government’s drive to increase power generation in the country, important in achieving it...
Voith Group acquires 100% shares in Elin Motoren GmbH
Voith Group has owned a 70 per cent controlling share in Elin Motoren GmbH since 1 May 2020 and at the end of 2021 acquired the remaining 30 per cent that was held by Franz Hrachowitz, the company's managing director. "For Voith, this is a further step in strengthening our core business and consistently expanding it in the direction of sustainable technologies," says Dr Toralf Haag, CEO ...
Holcim divests Northern Ireland cement business
Holcim has sold its Northern Ireland cement business to Cookstown Cement Ltd for more than GBP55m, reports the BBC. Cookstown Cement Ltd is a new local business that has acquired all of the business of Lafarge from Aggregate Industries (Holcim group). The deal includes a cement plant and limestone quarry in Cookstown, a shale quarry in Dungannon and a facility at Belfast Harbour. T...