Cement News tagged: Corporate
GCC sees 2% rise in sales for 4Q20
Mexico's Grupo Cementos de Chihuahua (GCC) has seen a 1.7 per cent YoY increase in consolidated net sales to US$232.5m for the final quarter of 2020, compared to US$228.6m in the 4Q19. EBITDA fell 5.9 per cent YoY to US$81.3 from US$86.4m, while the EBITDA margin dipped to 35 per cent from 37.8 per cent. "GCC wrapped up 2020 with strong operational and financial results despite the challen...
Taiheiyo signs capital investment agreement in Solusi Bangun Indonesia
PT Solusi Bangun Indonesia Tbk (SMCB), PT Semen Indonesia Industri Bangunan and Japan-based Taiheiyo Cement Corp signed a capital transfer and inclusion agreement and cement sale and purchase master agreement (offtake agreement) on 26 January. The transfer and capital participation agreement reflects the planned capital investment by Taiheiyo in the former Holcim subsidiary through the issuan...
Mugher Cement Factory seeks production increase
Ethiopia’s Mugher Cement Factory will boost production to increase its share of the market, according to Takele Uma, minister of mines and petroleum. The minister stated that the state-owned cement factory’s current production volumes are disproportionate compared to the abundant natural resources in the area. Therefore, efforts will be made to improve production capacity and increase its ma...
Fosbel acquires Wahl Refractory Solutions LLC
Fosbel has acquired Wahl Refractory Solutions LLC. Wahl Refractory Solutions, Fremont, Ohio, will now conduct business under the name Wahl Refractory Solutions, a Fosbel company. The integration of Fosbel and Wahl Refractory secures a future of continued growth through strengthened products and services to a broader customer base. By making a commitment to ensure Wahl’s continuing ...
INSEE Cement (Lanka) holds child career guidance programme
INSEE Cement (Lanka) Plc has held a ’Find Your Spark', an interactive virtual career guidance programme. The objective of the programme was to equip the children of employees with the right knowledge and skills to grow their talent, choose their future career wisely and achieve their best. The programme included a series of workshops conducted by a panel of renowned professionals, who...
Hail Cement Co sees net profit rise 82%
Saudi Arabia’s Hail Cement Co has seen its net profit surge by 82 per cent YoY to SAR107.5m (US$28.67m) in 2020. The company has attributed the results to an increase in revenue and a decline in some expenses. Revenue advanced 22.6 per cent to SAR336.3m, compared with SAR274.4m in 2019.
Jura Cement Fabriken wants quarry expansion
Jura Cement Fabriken AG has applied to expand its Jakobsberg and Oberegg quarries to continue the raw material supply for its Wildegg plant in Switzerland. The necessary revision of the partial use plan was approved by the municipal assemblies in January 2020. The quorum had such a large majority that a definitive resolution was reached and a referendum was no longer possible. However, legal...
UltraTech Cement reports consolidated sales of INR121.44bn
The Aditya Birla Group's cement flagship, UltraTech Cement Ltd, reported consolidated net sales of INR121.44bn (US$1.66bn) for the quarter ended 31 December 2020, versus INR102.61bn over the corresponding period of the previous year. Profit before interest, depreciation and tax was at INR33.62bn compared to INR21.47bn in the corresponding period of the previous year. Profit after t...
Birla Corp reports 82% rise in net profit
India’s Birla Corp has seen its net profit surge 82.1 per cent YoY to INR1.484bn (US$20.35m) in the December quarter, compared to INR814m in the 3QFY19-20. Revenue also increased five per cent YoY to INR18.23bn, while EBITDA was up 19.4 per cent to INR3.76bn. The company’s sales volumes rose 3.2 per cent to 3.55Mt in the October-December 2020 period, boosting capacity utilisation to 92 per c...
Lafarge Africa to sell 35% stake in Ghana operations
Following an emergency meeting of its Board of Directors, LafargeHolcim-owned Lafarge Africa Plc reached an agreement to offload its 35 per cent holding in Ghana-based Continental Blue Investment after years of loss-making. The step is the second major divestment in less than two years after Lafarge Africa’s US$316m sale of its South African subsidiary in July 2019. Proceeds of this deal wen...
Shiva Cement sees net revenue down 8%
India’s Shiva Cement has reported a standalone net loss of INR58.6m (US$803,778) in the 3QFY20-21, compared to an INR61.4m loss in the year-ago period. Net revenue declined 7.6 per cent YoY to INR70.1m from INR75.9m. However, operating expenses also fell 12.1 per cent to INR90.1m.
Carthage Cement posts 1% revenue rise in 4Q20
Tunisia-based Carthage Cement has reported a 22 per cent rise in its revenues in the fourth quarter of 2020. Domestic sales were up 19 per cent YoY. Clinker export sales recovered to reach TND3.5m (US$1.3m) while cement exports brought in revenues of TND3.2m. Clinker production reached 0.56Mt in the 4Q20, up 53 per cent when compared with the 4Q19. Full-year 2020 The company posted a 1.4 ...
New director elected to San Miguel board
John Paul Ang has been elected as a director of Philippines-based San Miguel Corp, filling the board vacancy left after Reynaldo David passed away last year. Mr Ang is currently the president and CEO of Eagle Cement Corp, which is owned by the Ang family. "He brings with him years of top managerial experience in the cement industry in the Philippines and in Malaysia, beginning with experie...
Cementarnica Usje BoD president resigns
The president of the Board of North Macedonia-based Cementarnica Usje, Konstantinos Derdemezis, has resigned due to undisclosed reasons. The position will be filled by Yanni Paniaras until the next shareholders’ meeting, said the company in a bourse filing. Mr Paniaras is serving as delegated director in the Board of Directors of Greece-based Titan, Cementarnica Usje’s parent company.
Udaipur Cement Works sees sales rise 15%
India’s Udaipur Cement Works has seen its net profit surge to INR155.5m (US$2.13m) in the quarter ending 31 December 2020, compared to INR9.7m in the year-ago period. Sales also increased 15.4 per cent YoY to INR1.83bn from INR1.59bn in the 3QFY19-20.
Hoffman Green Cement launches construction second plant
Hoffmann Green Cement Technologies (HGCT) has started work on the construction of its second cement plant, which represents an investment of EUR22m. Located in Bournezeau in the Vendée region of France, the facility will have the capacity to produce 0.25Mta of low-carbon cement. Commissioning is scheduled for the second half of 2022, according to Ll’Usine Nouvelle.