Cement News tagged: Corporate
Mayur Resources’ project awarded special economic zone status
Mayur Resources' Central Cement and Lime project area has been granted Special Economic Status by the Papua New Guinea government. Managing Director, Paul Mulder, said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for Bougainville Affairs & Defence, Honourable James Marape, in the establishment of this Special Economic Zone (SEZ) as it sets the right conditi...
Lucky Cement Co sees revenue down 12% YoY in 8M21
Taiwan’s Lucky Cement Co has reported a 31.9 per cent YoY decline in August revenue to TWD249.98m (US$9.01m) from TWD366.85m in the year-ago period. In the first eight months of the year, revenue has also decreased 11.5 per cent YoY to TWD2.64bn from TWD2.98bn.
Cemex launches its Sustainability-Linked Financing Framework
Cemex has launched its most comprehensive 'Sustainability-Linked Financing Framework' to date. The framework further aligns Cemex's sustainability commitments to its financing strategy, as part of its Future in Action programme. Cemex's guiding principles for new sustainability-linked financing instruments, including public bonds, private placements, loans, derivatives, working capital solu...
Devki Group to switch to self-power generation by 2023
Devki Group is planning to generate its own power by 2023 as the high cost of power is seen by the company as the biggest threat to Kenya’s manufacturing sector. Narendra Raval, Devki Group founder, said the decision to self-generate the company’s own power became clearer after Kenya Power demanded KES2.8bn (US$24.4m) to connect electricity to the Emali clinker factory. The company will ...
Nuvoco Vistas sees improvement in first quarter
India’s Nuvoco Vistas Corp has recorded a consolidated net profit of INR1.14bn (US$15.58m) in the first quarter of the fiscal ending 30 June 2021, compared to an INR913.8m net loss in the year-ago period. Consolidated revenue from operations also surged to INR22.03bn from INR8.42bn in the 1QFY20-21. "In spite of the countrywide lockdown, the company achieved exceptional volume growth in the...
Gujarat Sidhee Cement to shut clinker line for maintenance
India’s Gujarat Sidhee Cement is planning to shut down the clinker line at its Sidheegram plant for annual maintenance, which is expected to take a period of 17-20 days to complete. However, cement grinding and dispatches are still planned to continue.
CBB sees 67% rise in profit
Chilean cement producer CBB (formerly known as Cementos Bío-Bío) reported a 13.9 per cent advance in revenues to CLP134.538bn in the first six months of 2021 from CLP118.124bn in the 6M20. The company’s profit attributable to shareholders increased by 66.7 per cent YoY to CLP7.205bn in the 6M21 from CLP4.323bn in the 6M20. In its cement business the company nearly quadrupled its operating p...
Bamburi Cement lands government infrastructure deals
Bamburi Cement has secured lucrative government contracts for the supply of cement for key infrastructure projects in the region as part of efforts to staying afloat in a competitive cement market that has seen its net profit drop by 80 per cent in five years. The East African reports that Bamburi (Holcim group) has won tenders to supply cement key government infrastructure projects in K...
Cementos Molins to acquire aggregate and concrete business
Spain’s Cementos Molins has reached an agreement to acquire Hanson Hispania’s aggregate and concrete business in Catalonia. The move will see it bolster its operations with two concrete plants, based in the Barcelona free zone and Montcada i Reixac, as well as a quarry in Begues and another in Llinars. "This operation will allow Cementos Molins to reinforce its presence in Spain and consolida...
JK Cement plans 23Mta expansion by end of 2023
JK Cement intends increase production capacity to about 23Mta in the next two years, from 15Mta now, by expanding its footprints in northern and central India. "We will maintain and grow our market share in the short term. Apart from the ongoing expansion in Panna, and now in Hamirpur, we already have plans for another 4Mt expansion," said Madhav Krishna Singhania, JK Cement’s CEO. "We ha...
Mannok doubles cement bagging capacity
Mannok, based in Derrylin, Co Fermanagh, Northern Ireland, has invested EUR2.1m in its cement bagging facilities to double the company’s production capacity. Germany-based Haver & Boecker were awarded the contract to design and manufacture a new 10-spout Roto-Packer Adams bag filling system and a new automatic film reel changer. The new equipment has the capacity to pack 1200 bags per hour. ...
Malaysia’s CMS posts 284% rise in 2Q net profit
Malaysia-based Cahya Mata Sarawak Berhad (CMS) reported a 32.3 per cent rise in 2Q revenues from MYR139.878m in the 2Q20 to MYR185.001m in the 2Q21. Profit before tax tripled from MYR18.479m to MYR57.471m over the same period. Profit attributable to equity holders of the parent company was up 283.7 per cent to MYR47.39m from MYR16.707m. In the first half of 2021 the company saw revenue edge u...
Holcim buys 51% stake in Costa Rican RMC producer
Holcim Costa Rica has announced its acquisition of a 51 per cent stake in ready-mix concrete producer Concretera Nacional, Costa Rica. The step will make Holcim one of the largest building material and construction companies in the Central American country. Concretera Nacional, established in 2004, has three plants – Pavas, Alajuela and Cinco Esquinas – in the greater San José area. Howeve...
Tarmac's giant excavator receives an overhaul
Tarmac’s Dunbar Cement plant has given its Marubeni Komatsu PC2000’ backhaul excavator a seven-week overhaul. The largest excavator in Scotland, the giant 200t machine handles the rock that has been blasted from Tarmac’s quarry and moves it to dumper trucks that deliver it for crushing. At seven years old, the PC2000 needed a major refit, enabling it to give Tarmac at least another five...
Näger leaves HeidelbergCement
Lorenz Näger will retire as CFO of HeidelbergCement at the end of August after 17 years of service to pursue private interests as well as continuing to bring his professional knowledge to pharmaceutical retailer Phoenix as a member of its board of directors. He will be succeeded by René Aldach, who is currently in charge of Group Reporting, Controlling and Consolidation.
Cemento Polpaico sees revenues double in 1H21
Chile-based Cemento Polpaico reported a surge in consolidated revenues from CLP76,528m in the 1H20 to CLP152,376m in the 1H21. Profit before tax reached CLP9361m, reversing a loss of CLP8424m in the 1H20. Net profit reached CLP6833m in the 1H21, from a loss of CLP5862 in the 1H20. The results include the consolidation of Cementos Bicentenario. The company’s cement business saw its revenues i...