Cement News tagged: Corporate
GCC reports 18% rise in sales in 3Q23
Mexico-based cement producer GCC has reported consolidated net sales of US$416.1m in the 3Q23, up 17.9 per cent YoY. This was primarily due to increased cement and concrete volumes in Mexico, increased concrete volumes in the US and a favourable price environment in both markets. However, these were partially offset by decreased cement volumes in the US. EBITDA in the 3Q23 improved by 35 ...
Adani Cement completes refinancing package
Adani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company....
Holcim Algeria buys automatic ship loader for Djendjen port operations
Holcim Algeria invested EUR3m in an automatic ship loader for its operations at Djendjen port. The 18,000tpd ship loader will speed up clinker loading at the port, reducing waiting times and demurrage costs, as well as maintain product quality. It is also expected to reduce the operations’ environmental footprint by reducing dust and other emissions.
FLSmidth Cement appoints new president
Christopher Ashworth has been appointed the new president of FLSmidth Cement . He succeeds Asger Lauritsen who stepped down from the role in August this year. Roland M Andersen has been serving as interim president since August, alongside his duties as group CFO. Mr Ashworth joins FLSmidth from Eurotherm, a Schneider-Electric company, where he has served as vice president and managing dire...
Unacem reports 12% fall in sales in 9M23
Peru-based cement producer Unacem has reported an 11.6 per cent drop in cement production to 4.38Mt in the opening nine months of 2023. Clinker production over the same period declined 7.5 per cent to 4.3Mt. Cement sales over the 9M23 also contracted, down 11.7 per cent to 4.38Mt YoY, with a 13.8 per cent YoY contraction seen in the 3Q23. However, this did mark a 6.2 per cent increase compar...
Holcim España invests in renewable fuels at Carboneras plant
Holcim España has reinforced its commitment to decarbonisation by investing in facilities for the use of renewable fuels at its Carboneras cement plant in Almería, Spain. The EUR4m project ensures that the plant is now capable of sourcing 70 per cent of its thermal energy requirements from renewable fuels, resulting in a reduction of more than 22,000t of CO 2 emissions linked to energy us...
Domicem commissions new kiln, doubles capacity
Domicem , a subsidiary of Colacem SpA (Italy), commissioned a new kiln line at Sabana Grande de Palenque , San Cristóbal province, in the Dominican Republic, on 13 October 2023. The US$120m expansion consisted of a 3500tpd kiln line and doubles cement capacity at the existing plant to 3.8Mta. The project, which was first announced in March 2021, was executed by by Sinoma CBMI Constru...
FLSmidth awarded new service contract
FLSmidth will support a leading cement producer to improve the reliability and performance of its operations in Latin America. The new contract builds on a long-standing relationship between the two companies and will last a period of 18 months. Covering the complete production process, from quarry to packing plant, FLSmidth will support the customer in improving overall equipment effici...
Cherat Cement reported profits up by 3% in 1QFY23-24
Cherat Cement Co Ltd (CHCC), subsidiary of Gulham Faroque Group , has announced its financial results for the 1QFY23-24 ended 30 September 2023. It reported an increase in profit after tax to PKR1.53bn (US$5.47m) from PKR1.48bn earned in the corresponding period last year. This reflects a growth of 3.4 per cent on a YoY basis, according to CHCC financial results posted on the Pakistan Stoc...
Continental Cement signs hydrogen MoU
Summit Materials , in partnership with its subsidiary Continental Cement Co , has signed a Memorandum of Understanding (MoU) with PCC Hydrogen Inc (PCCH2), a producer of negative carbon intensity hydrogen, to develop a fuel replacement strategy to lower carbon emissions from Continental's cement manufacturing process. The project aims to deploy negative carbon intensity hydrogen derived f...
Yamama Cement saw growth in revenue and profit in 9M23
Yamama Cement Co of Saudi Arabia recently announced its interim financial results for nine months, ending on 30 September 2023, at the Saudi stock exchange. The company earned a net profit after tax of SAR251.49m (US$67m) against SAR221.64m during this period, depicting a 13.46 per cent YoY growth. The sales/revenue also saw an upsurge to SAR710.64m from SAR673.6m with a note of 5.49 per ...
Heidelberg Materials named as Summit mystery bidder
Just weeks after it was reported that Summit Materials had entered into an agreement to merge with the US operations of Cementos Argos , Heidelberg Materials is allegedly lining itself up to acquire Summit Materials. According to Bloomberg, Summit Materials has rejected two takeover bids from an “unnamed party” in recent weeks, which has since been revealed as Germany-based Heidelberg Mat...
Najran Cement to buy 20-25 per cent stake in the building materials industry
Najran Cement Co of Saudi Arabia announced the signing of a non-binding memorandum of understanding (MoU) with Ayan for Commerce & Industry (Ayan), according to which Najran Cement Co will study the feasibility of purchasing a minority stake in one of Ayan’s subsidiary companies that works in the building materials industry. According to the Saudi Stock Exchange, the data of signing the M...
Gas price increase expected for Pakistan's cement industry
According to local reporters, Pakistan's government will likely increase gas prices for commercial and domestic users to meet some conditionality of the IMF programme and overcome losses of gas utility companies, gas price adjustments, and gas sector circular debts. The increase in gas prices would also be effective in the cement industry. The Economic Coordination Committee (ECC) is expected...
Heidelberg Materials raises full-year outlook
In the course of preparing its quarterly statement for the first nine months of 2023, Heidelberg Materials has announced preliminary 3Q23 results above current capital market expectations. Capital market expectations are based on the average values of the latest estimates of financial analysts, compiled by Vara Research on 18 October 2023. Preliminary financial figures from the cement produc...
Bamburi Cement calls for collaborative approach on decarbonisation
Kenya’s Bamburi Cement has issued a rallying call to the country’s construction sector to encourage decarbonisation. According to Capital Business, the company is in talks with designers, engineers, developers, contractors, materials manufacturer and industry bodies across Mombasa, Kisumu and Nairobi on how to develop a low-carbon pathway. Speaking to over 120 sector players at a recent e...