Cement News tagged: Corporate
LafargeHolcim Maroc sees 66% rise in 2Q revenue
LafargeHolcim Maroc saw a 66 per cent rise in revenues to MAD2078m (US$232.4m) in the second quarter of 2021 from MAD1252m in the 2Q20. The positive trend has been attributed mainly to the increase in sales across the board. In the first half of 2021 revenues increased by 26 per cent YoY to MAD4000m from MAD3185m in the 1H20. The company’s debt fell by 10 per cent YoY to MAD5952m at 30 June...
Huaxin Cement Narayani prepares to begin production
Huaxin Cement Narayani is expected to start cement production within two months following the completion of the cement works in the central Dhading district of Nepal, according to Xinhua. The China-Nepal joint venture has a cement capacity of 3000tpd. Construction began in 2019, but the completion of the project was delayed by floods, disputes over land acquisition and the COVID-19 pandemic.
Cementos Cibao opens new grinding unit
Cementos Cibao inaugurated its new 134tph cement grinding plant in the presence of the Dominican Republic’s President Luis Abinader. The project represents a multi-million dollar investment and sees the plant meeting not only higher efficiency but also stricter environmental standards. Equipment for the new plant, including a vertical roller mill, was supplied by Germany-based thyssenkrupp. ...
West China Cement sees profit rise 40% YoY
West China Cement has posted a 40.4 per cent YoY rise in attributable profit to CNY1.06bn (US$163.5m) for the first half of 2021, compared to CNY752.3m in the 1H20. Revenue also advanced 40.7 per cent YoY to CNY4.23bn from CNY3bn in the first half of 2020.
Cherat Cement sees turnover rise 47% YoY
Pakistan's Cherat Cement Co has posted a profit of PKR3.21bn (US$19.29m) for the financial year ended 30 June 2021, according to a bourse filing. The company had recorded a loss of INR1.89bn for the FY19-20. Net turnover also advanced 47 per cent YoY to INR25.21bn in the FY20-21, compared to INR17.09bn in the previous year.
Vulcan Materials Co completes acquisition of US Concrete
Vulcan Materials Co has announced that it has completed its acquisition of US Concrete. Tom Hill, chairman and CEO of Vulcan Materials, said, "Today is an important milestone as we welcome US Concrete and its talented team to Vulcan while also taking the next step forward in our growth and value creation strategy. With our complementary footprints and shared commitment to innovation and ...
Arabian Cement records 2Q21 revenue of SAR233m
Arabian Cement Co (ACC) registered a revenue for the 2Q21 of SAR233m (US$62m), a YoY increase of 66.9 per cent. The company achieved an 82.9 per cent YoY improvement in cement volume from its Saudi Arabian operations and a 51.5 per cent YoY growth in revenue from outside the kingdom, according to Al Rajhi Capital. Cement sales volume for the 2Q21 reached 0.7Mt, 7.9 per cent hig...
Bamburi Cement records 21% climb in turnover
Kenya's Bamburi Cement has recorded a 21 per cent YoY growth in turnover to KES19.6bn (US$178.45m) for the first half of 2021, compared with KES16.2bn in the 1H20. Pre-tax profit also surged to KES1.1bn from KES213m. The company attributed the results to a recovery of the cement market, with domestic and export volumes rising while demand for premium cement products also increased. "The pa...
Colombia's tax change may impact Argos valuation
Colombia's Congressional Economic Committees have voted in support of the tax change proposed by Iván Duque's government, a step that could impact the valuation of domestic cement producer Argos, according to a report by UBS. The project, also known as social investment, targets an additional COP15.2bn (US$3.97m) to the state purse and UBS research expects a 35 per cent increase in corporate...
Lebap Cement sees 8% rise in dispatches
The Lebap Cement plant in Turkmenistan delivered 470,924t of M-400 and M-500 Portland cement to customers between January-July 2021, according Trend News Agency. The data reflect a 7.8 per cent YoY rise in dispatches. The plant currently has a production capacity of 1Mta and is located in the Koytendag district of the Lebap region, but is undergoing a 1Mta expansion project. Commissioned in ...
Holcim to upgrade Obourg
Holcim has applied for the renewal of its operating licence at the Obourg cement plant in Belgium. The company also plants to carry out a modernisation programme and build a new kiln that ultimately enables carbon capture. “This project was called GO4ZERO because it supports the ambition of carbon neutrality that the Holcim group has set itself by implementing, as a world first, a design of ...
Dongwu Cement reports surge in 6M profit
Dongwu Cement reported a 30 per cent rise in unaudited revenues to CNY227.8m (US$35.1m) in the first six months of 2021, up from CNY174.8m in the 6M20. The company’s gross profit margin of the cement segment advanced to 21.8 per cent in the 6M20 from 16.7 per cent in the year-ago period. Profit attributable to the company’s owners surged from CNY10.8m in the 6M20 to CNY25.6m in the 6M21. ...
Aalborg Portland reports sluggish Futurecem sales
Sales of its lower-carbon cement, Futurecem, have not reached the projected volumes of 40,000tpa, 18 months after its market launch, according to Denmark-based Aalborg Portland. To date sales of 2000t have been reported. Aalborg Portland CEO, Michael Lundgaard Thomsen, said the company will carry out a 20-30 per cent price reduction to bring Futurecem’s price in line with that of standard ce...
NOCIBE raises cement price
Nouvelle Cimenterie du Bénin (NOCIBE) will increase the price of cement from its plants from 1 September 2021. CEM II 32.5 R cement will cost XOF64,617/t (US$115.96/t), including tax while CEM II 42.5 R cement will be sold at XOF66,997/t, including tax. NOCIBE runs a 1.5Mta integrated cement works at Massé, Benin, and is the country’s largest cement producer.
AdBri sees 95% surge in profit for the 1H21
Australia’s AdBri has posted a net profit after tax of AUD56.6m (US$41m) in the first half of 2021, up 94.5 per cent on the year-ago period. Revenue also advanced 7.4 per cent YoY to AUD752.3m from AUD700.7m, as demand for construction materials increased. "Adbri delivered a robust first half financial performance for 2021 recording solid growth in revenue and profits with improving margins ...
Dangote Cement announces NGN150bn commercial paper programme
Nigeria’s Dangote Cement has announced a new NGN150bn (US$364.84m) Commercial Paper Programme. The programme is expected to allow the company to broaden its funding sources and, combined with its NGN300bn multi-instrument issuance Bond programme, increase its access to capital market funding. The Commercial Paper will be used for working capital and general corporate purposes, according to ...