Cement News tagged: Corporate
Hranice sees 12% increase in 2020 profit
Czech cement producer Cement Hranice, owned by Germany-based Dyckerhoff AG, saw its profit rise 12.1 per cent YoY to CZK561.5m (US$26.2m) in 2020 on sales of CZK1.797bn, up 1.2 per cent YoY. "Cement and other product sales declined by 3.4 per cent YoY in 2020 owing to lower supplies to the sister Slovak company ZAPA beton," said board member Roman Michalcik. Cement sales in the Czech marke...
LafargeHolcim improves its sustainability performance and ESG rating
LafargeHolcim announced that its sustainability achievements in 2021 were ranked ranked first in its sector by Vigeo Eiris, giving the company its highest rating of A1 + . LafargeHolcim was also named best in its sector in terms of transitioning to a low-carbon economy. This rating places LafargeHolcim within the top two per cent of companies ranked worldwide. The Solar Impulse Foundation...
Schenck Process Group appoints Advisory Board chairman
Schenck Process Group has appointed Dr Ulrich Spiesshofer as chairman of its Advisory Board, effective from 1 May 2021. Dr Spiesshofer brings three decades of executive management, transformation, active portfolio management and operational expertise, across many sectors, including industry, energy and infrastructure in Europe, the Americas, Asia, the Middle East and Africa. Most re...
LafargeHolcim sees net sales rise 7% in 1Q21
LafargeHolcim recorded a record start to 2021, led by net sales improving by 7.4 per cent and an increase in recurring EBIT of 130.7 per cent compared to the prior year period, both on a like-for-like basis. Cement volumes grew by 5.6 per cent for the group and ready-mix concrete volumes increased by 2.2 per cent, while aggregates volumes decreased by four per cent, all on a like-for-like bas...
Arabian Cement faces mill project delay at Rabigh plant
Arabian Cement Co said its new cement mill project at the Rabigh plant has been delayed by 150 days and will now be completed in the 4Q21. The delay was due to contractor China National Building Materials Corp being unable to travel to Saudi Arabia to complete the installation and commissioning work because of coronavirus travel restrictions.
Yanbu Cement sees revenue increase 5%
Saudi Arabia’s Yanbu Cement has reported a 5.4 per cent rise in revenue to SAR292.4m (US$77.97m) for the first quarter of 2021, compared to SAR277.4m in the year-ago period. However, the company’s net profit declined 20.4 per cent YoY to SAR73.39m from SAR92.23m in the 1Q20. Despite the increase in revenues due to improved sales, a decline in the average selling price and the accompanying in...
CRH to change name of subsidiary to Romcim
CRH will change the name of its Romanian subsidiary to Romcim from 5 May. The name change is in keeping with the group’s strategy to operate trusted local brands in each of its markets, according to a press release. "Romcim is an iconic brand in the Romanian construction industry and feels like ‘family’ for generations of home builders, employees and the communities we operate in. Romcim is i...
LafargeHolcim looks to divest Brazilian assets
LafargeHolcim is reportedly exploring the sale of its Brazilian unit, which consists of 12 plants, according to people close to the matter. The company has hired Banco Itau BBA to advise on the potential divestment, which could bring in as much as US$1.5bn. The divestment could be made to one buyer or assets could be split. Under CEO Jan Jenisch, the company has been selling off assets th...
Moody Investors Service upgrades HeidelbergCement's rating
Moody’s Investors Service has upgraded HeidelbergCement’s long-term issuer rating to Baa2 from Baa3. Concurrently, the rating agency has upgraded the backed short term rating to (P)P-2 from (P)P-3. The rating outlook is stable, claims Heidelbergcement. As rationale behind the rating upgrade, Moody’s particularly highlighted HeidelbergCement’s resilient performance throughout 2020, its st...
Yamama Cement to move 10,000tpd kiln line to new site
Yamama Cement Co’s board of directors decided, in a meeting on 19 April 2021, to transfer and install the No 7 line from the company’s old production site in the south of Riyadh to the new plant location in Northern Halal in Al-Kharj governorate of the Riyadh region. The company said in a bourse statement that this comes in line with Saudi Arabia’s Vision 2030 to keep pace with developme...
Power Cement posts surge in revenue
Pakistan’s Power Cement has seen its revenue surge 341 per cent to PKR10.96bn (US$71.39m) in the nine-month period ended 31 March, compared to PKR2.65bn in the year-ago period. Its profit after tax reached PKR110.5m against a PKR1.75bn loss in the 9MFY19-20. In the 3QFY20-21 revenue advanced to PKR4.1bn from PKR1.39bn, while profit after tax returned to PKR41.68m from a PKR1.38bn loss in the ...
Yanbu Cement provides update on line modernisation
Saudi Arabia-based Yanbu Cement Co has delivered an updated related to its project which required the shutdown of its fourth line in February. The line modernisation has reached 90 per cent completion, but the project’s expected 60-day timeline has been affected by a delay in receiving spare parts. The company has stated that the financial impact will be limited to the increase in production...
CimMetal to expand into Togo's cement market
In September 2020 Cim Métal Group’s CEO Inoussa Kanazoé started marketing cement from its Togolese subsidiary. Already active in Burkina Faso with CimFaso and Cimasso, as well as in Côte d’Ivoire with CimIvoire, CimMetal is now turning attention to Togo. The establishment of the Lomé plant with a cement capacity of 2.5Mta, representing an investment of CFA65bn (US$125m) , will see th...
ACC reports 74% rise in profit for the 1Q21
India's ACC (LafargeHolcim) has reported a 74 per cent rise in net profit for the first quarter of 2021, rising to INR5.63bn (US$75.33m) from INR3.23bn in the year-ago period. EBITDA also advanced 47 per cent YoY to INR8.6bn. Revenue from sales surged 23 per cent YoY to INR42.13bn from INR34.33bn in the 1Q20. In particular, cement sales increased 22 per cent YoY to 8Mt and cement prices were...
Breedon reports strong trading in 1Q21
Breeding announced encouraging trading in the first three months of the year. There was good demand in the GB market, where the business benefitted from contributions from the Cemex acquisition, combined with a robust cement performance, which more than offset the impact of COVID-19 restrictions limiting construction activity in the Republic of Ireland. Overall, group revenues in the first ...
INFORM forms joint venture with Chilean partner
I NFORM , an internationally-known software development and business process optimisation specialist with US regional headquarters in Atlanta, Georgia, has set up a joint venture with its Chilean partner, Workforce Solutions SpA. The new company has officially been operating as Indorm Software SpA since 12 April 2021. The aim is to continue the over 50 year-long success story of I ...