Cement News tagged: Corporate
CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations
Technical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Na...
Holcim Argentina warns of gas shortage stopping kilns over winter
Holcim Argentina’s CEO, Christian Dedeu, has warned that clinker production at its plants could come to a halt as he has no guarantee that there will be gas to fire the kilns this coming winter (June-August 2022). “We do not have guaranteed gas for the winter, which puts cement production at risk. The impact can be very strong for the construction activity,” said Mr Dedeu. Moreover, gas prices...
Lehigh Hanson acquires Meriwether Ready Mix
HeidelbergCement has announced that its North American subsidiary Lehigh Hanson Inc has acquired all assets of Meriwether Ready Mix, a leading producer of ready-mixed concrete with a well-established residential and commercial customer base in the Metro Atlanta area. The Metro Atlanta Area is a growing market with significant infrastructure projects planned in the coming years. The...
New CFO for Power Cement
Power Cement Ltd has appointed Irfan Sikandar Bawa as CFO with effect from 4 April 2022, succeeding Tahir Iqbal, according to the company’s filing to the Pakistan Stock Exchange.
Titan Cement introduces digital transformation to Egyptian plants
Titan Cement ’s in-house proprietary advanced analytics methodology has been successfully rolled out in the company’s two cement plants in Egypt , following the successful implementation in Titan’s cement plants in Greece. In close cooperation with Titan’s Digital Center of Competence and, after a deep ‘dive’ into 16 years of data, the company’s teams teams in Beni Suef and Alexandria ...
Yamama Cement signs SAR1.633bn financing agreement
Yamama Cement Co signed a Shariah-compliant financing agreement on 31 March for SAR1.663bn (US$435.4m) with Saudi National Bank, the cement producer said in a statement to the Tadawul. The agreement covers long-term financing of SAR800m, for a period of eight years (including three years of grace period), and refinancing part of the existing long-term loans amounting to SAR563m, for a p...
Sinai Cement reports higher sales, narrow loss in 2021
Egypt-based Sinai Cement Co , owned by Vicat , reported a 61.9 per cent increase in sales to EGP1.44bn (US$78.8m) in 2021 when compared with 2020 when the company sold to a value of EGP889.2m. The company also narrowed its loss to EGP354m in 2021 from EGP560.3m in 2020.
Votorantim Cimentos' regional results in 2021 reach almost record levels
Votorantim Cimentos reported close to record growth in all regions for its performance in 2021 with total cement sales of 37.2Mt across all regions. “Our business strategy and recent acquisitions, combined with our resilience and operational excellence led us to achieve sales growth in all regions and to close the year with record results,” said Marcelo Castelli, global CEO of Votorant...
Plycem invests US$3m in microconcrete sheet production
Plycem ( Elementia Group ) has announced the investment of US$3m in its manufacturing plant located in Cartago. With this, it seeks the automation of a new production line for ‘microconcrete’ sheets in Costa Rica. Microconcrete consists of a sheet with a lower technical specification than the fibre cement sheets that the company already produces. It is a 12mm thick product, made with Port...
Votorantim Cimentos reports net profits of BRL1.6bn in 2021
Votorantim Cimentos ended 2021 with net profit of BRL1.6bn (US$337m), an increase of 244 per cent compared to 2020, primarily due to better operating results with growth in sales in all regions where the company operates and gains related to the consolidation of acquisitions made in North America and Spain. Global net revenue was BRL22.3bn, an increase of 33 per cent compared to 2020, as ...
Cemex expands Florida concrete block business
Cemex has announced that as part of its continued strategic growth strategy, it is expanding its concrete block business in Florida, recently restarting two plants and soon restarting a third, while accelerating production to meet heightened construction demand across the state. Over the last year, Cemex USA has invested more than US$17m in its block operations and mobile equipment in...
Birla's Mukutban plant begins clinker dispatch
Birla Corp ’s newest cement plant, Reliance Cement Co ’s Mukutban integrated plant, has started dispatching clinker. The clinker is being delivered to the company’s nearest grinding unit at Butibori, Maharashtra. Shri Arvind Pathak, MD and CEO of Birla Cement Corp, flagged off the maiden consignment of the clinker-laden truck. The Mukutban plant near Nagpur has a clinker capacity of 2.68Mt...
Holcim to exit Russian cement market
Holcim will leave the Russian market. It is the latest western company to quit the country following Moscow's invasion of Ukraine. Holcim operates three intergrated grey cement plants in Russia consisting of OJSC Volskcement , Kolomna Cement and the Ferzikovo plant. It also has white cement production at Kolomna Cement . "The Holcim Board of Directors has decided to initiate the ...
Riyadh Cement sees 4% drop in net profits in 2021
Saudi cement company Riyadh Cement Co posted a 3.8 per cent decline in net profits after zakat and tax to SAR211.64m in 2021, when compared with 2020 when net profits after zakat and tax reached SAR219.95m. Revenues were up 13.7 per cent to SAR671.06m in 2021 from SAR590.29m in 2020, according to a bourse filing.
Mannok's sales director becomes vice chairperson of MPANI
Paddy Mohan, Mannok's Cement sales director, has taken the role of Vice Chairperson for the Mineral Products Association Northern Ireland (MPANI), an industry body which represents the entire mineral products industry in Northern Ireland and an organisation which Paddy has been a member of for 24 years. This new role marks an important milestone for Paddy as he previously had to step down f...
Cemex releases its 2021 integrated annual report
Cemex has launched its 2021 Integrated Report: 'Building a Better Future,' which includes a comprehensive analysis of the company’s strategic vision, operational performance, corporate governance, and value creation. The report highlights the company’s essential value of its industrial activity, climate action strategy, commitment to innovation in the industry and unlocking new opportuniti...