Cement News tagged: Corporate
GCC reports 12% rise in 3Q21 net sales
Mexico’s GCC has announced consolidated net sales of US$315.4m in the third quarter of 2021, up 12.2 per cent YoY on US$281.1m in the 3Q20. EBITDA also advanced 10.2 per cent to US$110.1m from US$99.9m, while its EBITDA margin saw a modest decline to 34.9 per cent from 35.5 per cent. “We are pleased with the results delivered despite supply chain and energy cost challenges. GCC is on track...
HeidelbergCement agrees to 68% stake in Tanga Cement
HeidelbergCement has signed an agreement to acquire 68 per cent of the shares in the Tanzanian cement producer Tanga Cement. The step aims to strengthen its local business and create significant synergies with its existing assets in Tanzania, says the company in a statement. Through its subsidiary Tanzania Portland Cement, the largest cement-producing company in the country, HeidelbergCement...
Umm Al Qura Cement's revenue down 35% YoY
Saudi Arabia’s Umm Al Qura Cement Co has posted a net profit after tax of SAR12.47m (US$3.33m) in the quarter ending September 2021, down 60.9 per cent YoY against SAR31.91m in the year-ago period. Revenue also declined 35 per cent YoY to SAR56.96m from SAR87.61m in the 3Q20.
Ramco Cements announces 19% increase in revenue
India’s Ramco Cements has posted an 18.7 per cent YoY increase in consolidated revenue to INR15.03bn (US$200.1m) in the quarter ending September 2021. The company was reportedly supported by better volumes and pricing in the light of strong cement demand. Net profit surged 111.8 per cent to INR5.16bn from INR2.44bn in the July-September 2020 period.
Loma Negra relights L'Amalí kilns
Argentine-based Loma Negra has turned its kilns at its L'Amalí in Olavarría back on after resolving the conflict with Minerar, the union that exploits the company’s limestone quarry. The Argentine Mining Workers Association (AOMA) and Loma Negra reached an agreement to improve the working conditions of Minerar’s staff.
Orient Cement records 28% YoY revenue increase
India’s Orient Cement has recorded a consolidated revenue of INR6.13bn (US$81.63m) in the 2QFY21-22, up 28.4 per cent YoY from INR4.78bn in the comparable period of the previous fiscal. Net profit also climbed 63.4 per cent YoY to INR568.8m from INR348.2m.
China Shanshui Cement records 15% rise in revenue
China Shanshui Cement has recorded a 23.6 per cent YoY decline in attributable profit to CNY1.78bn (US$278.83m) in the first nine months of the year, compared to CNY2.33bn in the year-ago period. However, revenue advanced 14.8 per cent to CNY17.57bn from CNY15.31bn in the 9M20.
Loma Negra pauses production at L'Amalí plant
Argentina’s Loma Negra has reportedly stopped production at its L'Amalí plant in Olavarría as a result of a union conflict between the Mining Workers Association of Argentina (AOMA) and its limestone supplier, Minerar, leaving it without stock of the raw material. The conflict between AOMA and Minerar is the only cause of the suspension of production. It is expected to have a significant im...
Alamgir Kabir re-elected as president of the BCMA
Alamgir Kabir, vice-chairman of MI Cement Factory, has been re-elected president of the Bangladesh Cement Manufacturers’ Association (BCMA). Shahidullah, managing director of Metrocem Cement and chairman of Metrocem Group, and Zahir Uddin Ahmed, managing director of Confidence Cement, have also been re-elected as the first and second vice-president of the BCMA, respectively. “Working wit...
Attock Cement records 22% decline in revenue
Pakistan’s Attock Cement has announced a 21.6 per cent YoY decrease in consolidated revenue to PKR5.73bn (US$32.86m) in the quarter ending 30 September 2021, compared to PKR7.31bn in the year-ago period. Profit also fell 46 per cent YoY to PKR373.3m from PKR691.7m in the 1QFY20-21.
Cementos Yura appoints new general manager
Peru-based Cementos Yura has selected Fernando Rojas as its new general manager, replacing Julio Caceres, who was appointed on an interim basis. Mr Rojas has more than 27 years of experience in the cement industry internationally, having developed his professional career in Cemex, where he served as director of operations (Costa Rica and Puerto Rico) and lead the regional direction of Optim...
Yanbu Cement Co sees revenue up 10% in 9M21
Saudi Arabia’s Yanbu Cement Co has reported a 55.8 per cent YoY decline in net profit to SAR36.4m (US$9.71m) in the third quarter of 2021, compared to SAR82.48m in the year-ago period. Revenue also fell 13.5 per cent YoY to SAR207.78m from SAR240.36m in the 3Q20. During the first nine months of the year, the company recorded a 28.7 per cent decrease in profit to SAR149.69m from SAR210.12m in ...
Sephaku Cement experiences second kiln stoppage
South Africa’s Sephaku Cement has experienced a further kiln stoppage, unrelated to the previous event announced on 30 September 2021. This second plant stoppage began on 16 October 2021 and is expected to finish on 26 October. The outage has been necessitated by the repair of kiln internals to prevent damage to major components. The kiln was inspected in previous maintenance stoppages and ...
Jan Jenisch elected GCCA president
The Global Cement and Concrete Association (GCCA) has announced the election of Jan Jenisch, CEO of Holcim, as its president. Mr Jenisch takes up the role with immediate effect and succeeds outgoing president, Albert Manifold, CEO of CRH. An experienced industry leader, Jan Jenisch was appointed CEO of Holcim (then LafargeHolcim) in 2017, having previously been CEO of Sika AG. In addition to...
ACC reports 6% rise in EBITDA for the 3Q21
India’s ACC has reported a 6.1 per cent YoY rise in EBITDA to INR7.12bn (US$95.03m) in the third quarter of 2021, compared to INR6.71bn in the year-ago period. Profit after tax advanced 23.6 per cent YoY to INR4.5bn from INR3.64bn. "ACC has recorded a solid performance during the quarter through operational excellence and a focus on sustainability while meeting customers’ needs. Despite a st...
NEQSOL Holding announces interest in Ivano-Frankivskcement
NEQSOL Holding has announced its interest in expanding investment portfolio in Ukraine by entering the construction materials market. On 18 October 2021 the holding filed an application to the Antimonopoly Committee of Ukraine (AMCU) for the purchase of an equity stake in Ivano-Frankivskcement PJSC. The deal is at the final stage of negotiations with the current shareholders of Ivano-Frankivs...