Cement News tagged: Corporate
Kolos sees 17% profit drop in 2020
Mauritius-based Kolos saw its profits fall by 17.4 per cent to MUR145m (US$3.57) from MUR175.6m in 2019. The company’s income declined from MUR1.4bn to MUR1.3bn. The drop in profit and income was the result of the lockdown due to the COVID-19 pandemic as well as the rising cost of raw materials as the rupee weakened. However, the company stated that “despite the difficult operating environ...
BUA Cement sees 19% rise in profit
Nigeria’s BUA Cement has reported a 19.4 per cent rise in profit after tax to NGN72.3bn (US$189.5m) for 2020, compared to NGN60.6bn in the previous year. Revenue also advanced 19.3 per cent YoY to NGN209.4bn from NGN175.5bn. The company has attributed the positive results to its successful business continuity plan, alongside a growing market acceptance of BUA’s product offerings.
PPC postpones its ZAR750m rights issue
PPC Ltd, South Africa's biggest cement maker, held off on a planned rights issue of about ZAR750m (US$640m) following a sales boost and advancing talks on the disposal of its lime business. PPC has negotiated with lenders to postpone the share sale for at least six months, said CEO Roland van Wijnen. The group saw double-digit cement-revenue growth in its home market from the middle of la...
LafargeHolcim closes Firestone Building Products acquisition
Holcim Participations (US) Inc (LafargeHolcim) has successfully completed the acquisition of Firestone Building Products, following all regulatory approvals. Jan Jenisch, LafargeHolcim CEO said: “I warmly welcome the Firestone Building Products team into the LafargeHolcim family. Together, we will lead this iconic company’s next era of growth to become the global leader in flat roofin...
Lafarge Africa reports 99% growth in FY20
Lafarge Africa Plc has declared a 98.8 per cent YoY growth in profit to NGN30.8bn (US$788.7m) for the FY20, compared to NGN15.5bn reported in FY19. The growth is linked to the company's cost optimisation strategy to reduce loss arising from unproductive assets. This move led to the improvement in the company’s recurring EBIT margin from 16 per cent in 2019 to 20 per cent in 2020. ...
Sephaku Cement sees 10% revenue increase in 2020
South Africa's Sephaku Cement (Dangote Group) has reported a nine per cent YoY increase in sales volumes for 2020, despite 1H20 volumes being down 8.5 per cent YoY. In the 3Q20 the company recorded its highest quarterly volumes to date, according to a statement. The company’s after-tax profit for 2020 was ZAR44.4m (US$2.99m) compared to ZAR1.3m in the previous year. Revenue also increased 9....
West China Cement sees sales volumes rise 3%
West China Cement has seen its attributable profit decrease 13.4 per cent YoY to CNY1560m (US$237.48m) in 2020, compared with CNY1801.3m in the previous year. Revenue was down 1.6 per cent YoY to CNY7131m from CNY7247m in 2019, while EBITDA fell 3.3 per cent to CNY2997m. However, total cement and clinker sales volumes rose 3.1 per cent YoY to 19.9Mt from 19.3Mt. Cement volumes improved 4.3 p...
Buzzi Unicem outlook for 2021
Buzzi Unicem's Board of Directors gave an outlook for 2021 with expected sales recovery in Italy and an economic recovery in the USA, while forecasting higher industry inflation forces for building material production going forward. In Italy construction investments are expected to grow moderately, mainly favoured by the residential building renovation sector and by a gradual recovery of a...
Raysut Cement granted CE and NF markings
Oman-based Raysut Cement Co has been granted the CE and NF markings by AFNOR Certification of France, for some products manufactured in the Salalah plant, after passing successfully the CE002:2020 or NF002:2019, NFP 15-317:2006 and NFP 15-318:2006 certifications for some cement qualities that will be exported in the Indian Ocean islands. Raysut Cement has been advised by a consulting com...
MLT Group acquires TechnicGum
The MLT Group headquartered in Saint-Chamond, France, continues its growth by acquiring the Belgian company TechnicGum, manufacturer of conveyor accessories and equipment. Therefore, the MLT Group continues its growth dynamic defined over two years ago when it was acquired by Frédéric Guillemet and Patrick Vericel. As a result, the MLT Group is expanding its product range. With a full range...
Cemex recognises Construrama Women
Cemex has recognised female leadership in Mujer Construrama (Construrama Women), an event organised by Cemex Mexico. Construrama is the largest retail building materials distribution network on Mexico with 2100 stores and these stores are 30 per cent lead by women. This year, 320 women who are part of the network participated virtually in conferences and workshops by several business exper...
Buzzi Unicem's Board of Directors assesses 2020 Consolidated Financial Statement
The Board of Directors of Buzzi Unicem SpA have examined the statutory and consolidated financial statements for the year ended 31 December 2020. In the year under review, the group sold 29.3Mt of cement, up 0.4 per cent compared to 2019 and 11.7Mm 3 of ready-mix concrete, down compared to the figure recorded in the previous year (-3.1 per cent). Consolidated net sales remained virtual...
Yamama Cement signs financing agreement
Saudi Arabia’s Yamama Cement Co has signed a financing agreement with Al Rajhi Bank for a value of SAR863m (US$229.81m), including a SAR563m long-term facility and SAR300m in short-term financing. The long-term financing is over a period of five years and is expected to settle other banks’ obligations and improve financial efficiency, while the short-term facility is for one year and will fi...
Yanbu Cement Co appoints new CEO
Yanbu Cement Co’s (Saudi Arabia) board of directors has accepted the resignation of its CEO, Ahmed bin Abdo Zugail, due to personal reasons. Mr Zugail’s resignation was effective from 27 March 2021. The board also appointed Ali bin Abdullah Al-Ayed as the new CEO of the company, effective from the same date.
Mohir Cement launches new plant
Tajikistan’s Mohir Cement LLC held the official opening ceremony of its new plant in Jaloliddin Balkhi, Khatlon, yesterday, with the ceremony attended by the country's President, Emomali Rahmon. The facility has a capacity of 600,000tpa and will produce M400 and M500 cements. Cement from the unit is expected to be exported to Uzbekistan and Afghanistan.
Cemex plans expansion of Puerto de San José plant
Cemex SA plans to invest close to US$16m in the expansion of its cement plant in Puerto de San José, department of Escuintla, Guatemala. Cemex Guatemala has submitted the environmental impact study (EIA) to the Ministry of Environment to develop the project called "Arizona plant capacity expansion". The project will be developed on a section of land within the company's facilities, which h...