Cement News tagged: Corporate
Breedon Group plc acquires of Express Minimix
Breedon has acquired Micromix (Northern) Ltd which trades as Express Minimix, a 'mini mix' concrete operator based out of Durham, UK. Micromix (Northern) Ltd operates a fleet of 25 mixer trucks, specialising in delivering small loads of ready-mixed concrete and screeds, up to 4m 3 , to commercial and domestic customers across the north of England and parts of Scotland. Express Mini...
Vietnam's cement exports surge while domestic prices rise
Vietnam's Department of Building Materials, Ministry of Construction, reports that in the first four months of 2021, the country’s consumption of cement products is estimated to reach 34.58Mt, up 16.5 per cent YoY. Domestic consumption accounted for around 19.44Mt, a slight increase over the same period last year, while cement exports surged to 65 per cent over 2020 to 15.14Mt. Besides...
North Sulawesi exports 63,046t in May
Indonesia’s North Sulawesi province exported 63,046t of cement to Taiwan, the Philippines and Malaysia in May 2021, according to the North Sulawesi Industry and Trade Office. The value of exports totalled US$2.18m, with Malaysian exports representing US$1.1m from 32,496t alongside US$763,750 from 32,496t sent to Taiwan. Cement is a relatively new export from North Sulawesi and the Industry a...
FCT Group appoints new CEO
Adriano Greco has been appointed CEO of pyro-processing specialist, FCT Group, commencing 1 June 2021. Adriano Greco, who is based in Florida, has been CEO of FCT-Combustion’s American business unit since 2015 and has also implemented the Brazilian subsidiary. Greco brings over 20 years of extensive pyro-processing industry experience from management roles across the USA, Brazil, China, ...
YTL Corp net profit rises 9% in 3QFY21
YTL Corp Bhd recorded a nine per cent increase in its net profit to MYR93.5m (US$22.6m) for the third financial quarter ended 31 March 2021 (3QFY21), up from MYR85.4m in the preceding quarter. Revenue fell eight per cent QoQ to MYR4.22bn, from MYR 4.59bn in 2QFY21. "We have continued to see good recovery, particularly in our key utilities division which has registered a marked tu...
Maple Leaf selects Descon for new clinker line
Maple Leaf Cement Factory Ltd (MLCFL) has awarded the contract for the construction of its upcoming Line 4 to Descon Engineering Limited. The scope of work includes the civil works for the 7000tpd clinker production line at the existing Maple Leaf Cement Factory in Iskanderabad, Mianwali district, Pakistan. Chengdu Design & Research Institute of Building Materials Industry Co Ltd, China, wa...
Cahya Mata Sarawak sees net profits of MYR77.8m in 1QFY21
Cahya Mata Sarawak Bhd (CMS) recorded a 3.5-fold higher net profit of MYR77.8m (US$18.8m) for the first quarter ended 31 March 2021 compared with MYR17.28m in the same period last year. Revenue increased to MYR202.06m from MYR189.44m in 1QFY20. CMS said the revenue increased seven per cent due to higher contributions from the cement, trading and property development divisions. "The ...
Lamanka Enterprises acquires Akhangarancement stake
Cyprus-based Lamanka Enterprises Ltd has reportedly bought 84.197 per cent of the shares in Akhangarancement JSC in Uzbekistan. The stake was acquired for UZS557.6bn (US$52.7m) according to Uzbekistan Daily. In March 2021, Eurocement Holding AG announced its plan to sell a block of shares in Akhangarancement. The price was set at UZS103,593.05 but the block of shares was sold at a rpice of UZ...
LafargeHolcim to settle US lawsuit from Cuban operations
LafargeHolcim Ltd has agreed in principle to settle a lawsuit brought by a group of 25 US nationals who claimed the company used their Cuban property to conduct business, according to court documents. The lawsuit, filed in September in the US District Court for the Southern District of Florida, is one of dozens of cases brought under a long-dormant law that allows Americans to pursu...
HeidelbergCement makes new appointments to Managing Board
In line with HeidelbergCement’s 'Beyond 2020' strategic targets, the Supervisory Board of HeidelbergCement has decided to establish two new positions on the Managing Board to further drive the company’s major transformation in sustainability and digitalisation. Dr Nicola Kimm (51) will take over the newly-established Managing Board position as Chief Sustainability Officer of Heidelber...
Bestway Cement to set up greenfield cement plant in Punjab
Bestway Cement Ltd has informed the Pakistan Stock Exchange on 27 May that it is setting up a greenfield cement plant with a clinker capacity of 7200tpd, near Paikhel, Mianwali, Punjab province. Company Secretary, Sehar Husain, added that the plant would have a 9MW waste heat recovery plant built by Sinoma International Engineering Co Ltd of China. In addition, all necessary regula...
Anjani Portland to acquire controlling stake in Bhavya Cements
India’s Anjani Portland Cement has entered into a share purchase agreement for the acquisition of a controlling stake in Bhavya Cements, at a price of INR51.53/share (US$0.7/share). The objective of the deal is to improve the market presence of the company through the addition of a new brand, according to Anjani Portland. Bhavya currently operates around 1.4Mta of cement capacity and has a...
Cienfuegos restarts production
The Carlos Marx cement plant in Cienfuegos, Cuba, has recommenced production after being paralysed since 14 January due to a lack of petcoke. A new cargo of petcoke was reportedly unloaded at Cienfuegos port, according to Sierra Maestra new service. To address the fuel shortage, Cienfuegos had introduced the use of tyres and waste oils, but the alternative fuels are unable to meet the entir...
Cementir Holding is given a BBB investment rating by Standard and Poor
Standard & Poor's rating agency announced that it had assigned Cementir Holding NV an Issuer Rating of “BBB- with Stable Outlook”. The attribution of an investment grade rating is the culmination of a process that began several years ago, which saw Cementir significantly diversify its business and product portfolio, allowing it to achieve considerable stability in results, even during th...
Anjani Portland Cement posts 111% rise in profit
India’s Anjani Portland Cement has reported a largely stable total income in the full-year period ending 31 March 2021, reaching INR4.14bn (US$56.9m) from INR4.13bn in the FY19-20. However, net profit surged 110.6 per cent YoY to INR849.8m from INR403.5m in the previous fiscal.
Shree Cement records 22% revenue increase
India’s Shree Cement has posted a 22.2 per cent YoY increase in standalone revenue from operations to INR39.31bn (US$540.6m) in the quarter ending 31 March 2021, against INR32.18bn in the year-ago period. Net profit advanced 30.5 per cent YoY to INR7.68bn from INR5.88bn. In the full-year period, revenue from operations climbed 5.7 per cent to INR125.88bn from INR119bn in the FY19-20. Net pro...