Cement News tagged: Corporate
Sika acquires Thiessen Team USA
Sika has acquired Thiessen Team USA, a US manufacturer of shotcrete and grouting products for the mining industry. The acquisition will open up significant cross-selling potential and will support Sika’s expansion in the US mining market, says the company. Thiessen operates two production facilities, strategically located close to large mines in the western US area. Increasing sustain...
UNACEM Peru sees 20% uptick in sales and record production in 2022
Peru-based UNACEM saw its net cement sales increase by 19.7 per cent YoY to PEN2655m in 2022, according to its 2022 integrated report. Total sales reached PEN2835m. EBITDA reached PEN882.3m, up 16.9 per cent YoY when adjusted for other income and costs, while net profit stood at PEN421.5m, up 6.6 per cent YoY. Dispatches increased to 6.666Mt in 2022. Bagged cement dispatches accounted for 68...
Hoffmann Green signs agreement with French landlord
Vendée Habitat, a social landlord in the Pays de la Loire region in France, with around 18,000 homes under its management, has signed an agreement with Hoffmann Green Cement Technologies to specify and promote concrete made with Hoffmann Green's clinker-free cement in all future building programmes throughout the Vendée region. The agreement forms part of Vendée Habitat’s low-carbon deve...
Lafarge Africa's Roadcem gets government approval in Nigeria
Lafarge Africa ’s road cement brand Roadcem has been approved for use by the Federal Ministry of Works and Housing in Nigeria. The product which is environmentally friendly increases the strength and bearing capacity of roads, reduces the thickness of the pavement structure, and modifies the chemical and mineral structure of soil materials. In Nigeria there is high variability in the quali...
LIC reduces stake in India Cements Ltd
India-based Life Insurance Corp (LIC) has reduced its stake in India Cements Ltd from 5.87 per cent to 3.83 per cent. The reduction has taken place between November 2017 and July 2023. LIC now holds 11.9m shares in the cement producer. India Cements currently runs eight integrated plants and two grinding units across India, with a total cement production capacity of around 15.5Mta.
Indian cement demand to rise 7-8% in FY24
Cement demand in India is expected to expand by 7-8 per cent YoY in FY23-24, according to ICRA, the India-based rating agency. Cement prices, meanwhile, are forecast to remain on a par with FY22-23. In a recent report by ICRA, the agency found that cement volumes in April 2023 were up 12 per cent YoY at 36.6Mt. Volumes in FY22-23 showed a nine per cent expansion to 391Mt. This growth was d...
Tudela Veguin to invest EUR62.5m in decarbonisation measures
Cementos Tudela Veguín SA , part of Corp Masaveu , will invest EUR62.5m in energy efficiency and the use of biomass and hydrogen if it obtains funds from the EU. The plan is to guarantee the future of its plants in Asturias and León, Spain. Approximately EUR36m will be invested in its Aboño plant, EUR14.5m in Tudela Veguín and EUR3m in lime producer Caleras de San Cucao – all located in ...
Orient Cement sees revenue advance in FY22-23
Orient Cement , part of the CK Birla Group, has reported total income of INR29,375.5m (US$358.2m) in its FY22-23 annual report (FY21-22:INR27,350m). EBITDA over the same period came in at INR3765.6m (FY21-22:INR6006m), with an EBITDA margin of 12.8 per cent, while profit after tax stood at INR1228.2m (FY21-22:INR2633m). Earnings per share over the 12 months were reported at INR5.99. Accor...
Aggregate Industries opens new RMC plant in Birmingham, UK
Aggregate Industries has opened a second ready-mix concrete plant in Birmingham to increase its capacity and meet rapidly-growing demand in and around the UK’s second-largest city. The new, high-capacity site is located in Aston and will operate alongside its sister plant in Bordesley Green. Both sites are less than three miles from the city centre, making Aggregate Industries well placed to...
InterCement sells African businesses to Huaxin Cement
InterCement Participações S.A . has reached an agreement with Huaxin Cement Co Ltd regarding the sale of InterCement’s businesses in Mozambique and South Africa. Following the announcement of the sale of InterCement's operations in Egypt in January 2023, the sale of the remaining Mozambique and South Africa businesses further positively contributes to the group's ongoing liability managemen...
Nuvoco Vistas completes AF projects at Risda and Nimbol
Nuvoco Vistas Corp Ltd announced the completion of its alternative fuel resource (AFR) project at Risda cement plant in Chhattisgarh, and Nimbol cement plant in Rajasthan. The new AFR systems enable the cement plants to use agricultural waste, refuse-derived fuel (RDF), plastic waste, municipal waste, biomass, tyre chips and other hazardous waste sources. Nuvoco Vistas MD, Jayakumar ...
Shree Cement reports 18% YoY revenue growth
Shree Cement has reported revenue from operations of INR168,374m (US$2055m) in FY22-23 (ended 31 March 2023), up 18 per cent YoY from INR143,060m in FY21-22. EBITDA in FY22-23 came in at INR33,737m, with profit after tax of INR13,281m. The company registered total sales volumes of 31.82Mt in FY22-23, marking growth of 15 per cent YoY. According to the company this growth was driven by in...
Khayah Cement boosts capacity to 1Mta
Zimbabwe-based Khayah Cement (previously Lafarge Cement Zimbabwe) has announced that it doubled its milling capacity in 2022. The second half of the year saw the company successfully commission its new vertical cement mill (VCM) at its Manresa plant, and subsequently decommission Mill 1 following the collapse of the mill house roof in the 4Q21. The new VCM has boosted the company’s mil...
Aggregate Industries targets cement tanker driver safety
Aggregate Industries and its Lafarge Cement business have partnered with hauliers Simon Gibson Transport and Lomas Distribution to produce a new training package to address a significant industry gap for cement tanker driver training. The new bespoke training, the Cement Drivers Skills Qualification (CDSQ), has received CPC accreditation and recognises the necessary specialist training and a...
Adbri names new CFO
Adbri Ltd has appointed Jared Gashel as its new chief financial officer, effective 5 July 2023. Mr Gashel has more than 20 years’ financial experience in multiple industries working across three continents. Prior to joining Adbri, he was acting chief financial officer at Boral Ltd between April 2022 and March 2023 and previously held the position of executive general manager group finance...
UltraTech sales advance 20% in 1QFY23-24
UltraTech has announced 20 per cent YoY growth in sales volumes in India in the opening quarter of FY23-24 (March-June 2023). Volumes over the three-month period came in at 29.01Mt, compared to 24.2Mt in the same period a year earlier and 30.49Mt in the last quarter of FY22-23. In 1QFY23-24 grey cement volumes advanced by 20 per cent YoY to 28.6Mt, while white cement volumes improved by ...