Cement News tagged: Corporate
Carbon8 makes new appointment to the Board
Carbon8 Systems has appointed Paul Collins to the Board of Directors. Carbon8 is a UK-based company that invented and owns a process that combines industrial waste and residues with captured CO₂ emissions to produce high-value construction aggregate. Paul joins Carbon8 Systems after 12 years at BWB Group, the multi-disciplinary engineering and environmental consultancy. His arrival at Ca...
Tokyo Cement (Lanka) announces expansion plans
Sri Lanka’s Tokyo Cement Co (Lanka) has recently entered into an investment agreement with the country’s Board of Investment for a plant expansion project. The company is expected to expand its plant in Trincomalee by 1Mta with an investment of US$12m. The company has an 18-month plan to increase production, which is expected to reinforce the company's readiness to cater to the future deman...
thyssenkrupp invests in Reno service centre
thyssenkrupp Industrial Solutions (USA) Inc is investing in a new service centre in Reno, Nevada, to bring field service expertise, machining, fabrication and refurbishment capabilities closer to its cement and mining industry customers in North America and particularly in the western US. The new service centre will provide 994m 2 (10,700ft 2 ) of workshop space and will enable the company...
CRH posts 2% rise in EBITDA for 9M20
CRH has reported a three per cent like-for-like (LfL) decrease in its sales to US$20.6bn for the nine-month period to the end of September 2020, maintaining the level of sales decline reported at the half-year stage. Despite the lower sales, EBITDA for the period was US$3.4bn, up two per cent on a LfL basis. This reflected a continued focus on cost rationalisation and mitigating actions to mi...
JSW Cement delays IPO plans
India’s JSW Cement has pushed back its plans for an initial public offering (IPO) to December 2022, as a result of the slowdown and disruption caused by COVID-19. The company had already generated a plan to expand its combined cement capacity to 25Mta by 2023 at an investment of INR36bn (US$486.86m). "In 2019, the sector had degrowth, in 2020 COVID hit us. Now December 2022 is a logical t...
Clinker dispatches via Paraguay River return
Cement production is expected to recover from this week as clinker supply via the Paraguay River is returning to normal this week, reports Hoy. This will enable Industria Nacional del Cemento to increase cement production to more than 30,000 bags/day as the company’s clinker supply is more efficient. "Clinker production moves through the river and the land efficiency is not the same," said ...
Holcim Philippines to streamline corporate structure
The board of Holcim Philippines Inc (HPI) has approved the merger of three majority-owned subsidiaries (Bulkcem Philippines Inc, Mabini Grinding Mill Corp and Holcim Philippines Manufacturing Corp) into the company to streamline corporate structure. The company is now expected to hold a special stockholders’ meeting on 15 January 2021 for the approval of the transaction. Bulkcem Philippi...
Tourah Portland Cement reports 10% decline in net sales
Egypt’s Tourah Portland Cement has reported a net loss of EGP56.7m (US$3.62m) in the third quarter of 2020, compared to a net loss of EGP55.3m in the year-ago period. Net sales declined 9.8 per cent YoY to EGP13.8m from EGP15.3m in the 3Q19.
Breedon appoints CFO designate
Breedon has named James Brotherton as chief financial officer (CFO) designate, effective from 1 January 2021. Mr Brotherton was CFO of Tyman Plc between 2010-19 after holding the post of director of corporate development for five years. It is expected that he will be appointed to the Breedon Board as CFO when Rob Wood, the company’s current Group Finance Director, succeeds Pat Ward as CEO ...
Suez Cement sees net loss widen in 9M20
Egypt’s Suez Cement has posted a consolidated net loss of EGP888.9m (US$56.79m) in the first nine months of 2020, widening from an EGP521.4m loss in the year-ago period. The company’s sales also declined 21.8 per cent YoY to EGP3.84bn from EGP4.91bn. In its standalone business, net losses contracted to EGP587.2m from EGP736.77m in the 9M19. Elsewhere, the Egyptian Stock Exchange has announc...
Al Akaria sells stake in Hail Cement
Saudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange.
Taiwan Cement Corp sees revenue rise 3% in the 3Q20
Taiwan Cement Corp has announced a three per cent YoY rise in revenue to TWD29.8bn (US$1.04bn) for the third quarter of 2020. Its net income also reached TWD7.4bn, up 14 per cent YoY. In the first nine months of the year, revenue decreased six per cent YoY to TWD82.2bn while net income increased four per cent to TWD18.4bn. "Fourth quarter is the traditional peak season for the cement mar...
Dangote Cameroon sells 1Mt of cement in the 9M20
Dangote Cameroon has announced that it sold around 1Mt of cement from its 1.5Mta grinding plant in the first nine months of 2020, up 18 per cent YoY from the 9M19. The company has estimated that it had a 39 per cent market share during the period. The rise in demand has been attributed to increased investments in construction projects. “The market is primarily driven by individual construct...
NG Ghadiya Group set to acquire National Limestone from ACC
India’s NG Ghadiya Group, a company involved in the business of construction mining, has announced that it intends to completely acquire National Limestone Co from ACC Ltd. The transaction has been valued at around INR200m (US$2.686m), according to MarketLine.
HeidelbergCement announces EUR400m investment in French sites
HeidelbergCement’s subsidiary, Ciments Calcia has presented the draft terms of a large-scale investment and reorganisation programme for several of its sites in France. The programme comprises investments of around EUR400m, of which nearly EUR300m is earmarked for the Airvault plant alone. Elsewhere, the company will convert its facility in Gargenville, Yvelines, into a modern grinding u...
Vecoplan invests millions and enjoys further success despite COVID-19
Despite the COVID-19 pandemic, Vecoplan AG has continued supplying machines and systems that shred, convey and process primary and secondary raw materials in the production and materials cycle, while running as profitably as last year. "Despite COVID-19, our business is still very stable since we’re working through a high backlog of orders. One reason for these orders is our development ...