Cement News tagged: Corporate
Hoffmann Green Cement Technologies appoints Head of New Construction
Hoffmann Green Cement Technologies, a pioneer in low-carbon cement, has announced the appointment of Olivier Lefelle as Head of New Construction. He will oversee the construction of the two new production sites, H2 and H3, in Vendée and the Paris region respectively, each of which will have a capacity of 250,000tpa of low-carbon cement. Julien Blanchard and David Hoffmann, co-founders of Ho...
Semen Indonesia rebrands as Semen Indonesia Group
Semen Indonesia has rebranded to become Semen Indonesia Group (SIG), including a new logo, to reinforce the company’s environmental efforts and introduce itself as a provider of building materials solutions. Launching the new strategy, Adi Munandir, Semen Indonesia's director of Marketing and Supply Chain, told local press that: "We are already in the phase of thinking about our future. ...
Wonder Cement launches digital cement bag campaign
Wonder Cement of India has launched its digital campaign, 'Har Raah Mein Wonder Hai', designed specifically to run on platforms such Instagram, Facebook and YouTube. The campaign also marks Wonder Cement being the first-ever Indian cement brand to enter the world of the video application IGTV. No other brand in this category has created content specific to the platform. The objective of th...
Vicat reports 6% increase in consolidated sales for 2019
Vicat has reported a 6.1 per cent increase in consolidated sales to EUR2.74bn for 2019, rising from EUR2.58bn in the previous year. EBITDA showed a similar 6.9 per cent YoY growth to EUR526m from EUR492m, while the EBITDA margin edged up to 19.2 per cent from 19.1 per cent in 2018. "The Vicat Group’s solid performance in 2019 reflects the relevance and robustness of its business model. Strong...
Mitsubishi Materials and Ube Industries Ltd consider cement merger
Japan’s Mitsubishi Materials Corp has signed letter of intent regarding the merger of its cement business with Ube Industries Ltd. The company’s will now begin discussions regarding the integration and plan to sign a definitive agreement around September 2020. The two companies already have a joint venture, Ube-Mitsubishi Cement Corp, established in 1998. "While the business situations surro...
OYAK to invest in Cabo Verde
The Cape Verdean government reported that Turkish cement producer, OYAK is investing in Cabo Verde for the extraction of pozzolan, volcanic rocks used in the cement industry. Pozzolan extraction in Porto Novo dates back to the colonial period, but has been stopped for over six years. Local authorities estimate that there are around 10Mt of pozzolanic deposits in the area. At the end of 2019, ...
DG Khan Cement profit falls 51% in the 1HFY19-20
DG Khan Cement Co (DGKC) has announced its financial results for the half-year period ended 31 December 2019, reporting a 43 per cent fall in profit to PKR946m (US$6.1m). The major factor responsible for the decline was the increased cost of sales and taxation, despite little improvement in sales. The company's financial charges surged by 83 per cent YoY amid high interest rates. Net sales d...
AbaCore Capital signs joint venture agreement for cement project
Philippines-based AbaCore Capital Holdings Inc has received approval for a joint venture agreement with Honghui Pioneer S-Cement International Inc, which will facilitate the development and operation of a new cement plant. Omnilines Energy International Network, a subsidiary of AbaCore Capital, is therefore set to invest PHP1bn (US$19.8m) to establish a cement plant and silo project with Ho...
HeidelbergCement sees revenue rise 4% in 2019 preliminary results
HeidelbergCement has announced a 4.3 per cent YoY increase in group revenue to EUR18.851bn in its preliminary results for 2019. On a like-for-like (LfL) basis, the rise moderated to 2.1 per cent YoY. The result from current operations advanced 8.8 per cent YoY to EUR2.186bn, or 4.5 per cent growth LfL. However, the company’s cement and clinker sales volumes fell 3.1 per cent in 2019 to 125....
Cemex records flat net sales of US$3.3bn in 4Q19
Cemex announced that its 4Q19 net sales remained flat at US$3.3bn and fell for the full year by one per cent to US$13.1bn. Operating EBITDA, on a like-for-like basis, fell by 15 per cent in 4Q19 to US$554m and fell by 10 per cent for the full year to US$2.4bn. Cemex attributed the fall in net sales lower volumes in all regions, which higher prices in local currency were unable to offset. Net ...
Cementos Pacasmayo sees 8% uptick in 4Q sales
Peru-based Cementos Pacasmayo reported a 7.7 per cent rise in sales volumes of cement, concrete and precast in the 4Q19 due to higher sales to the public sector, El Niño reconstruction, some medium-size private projects as well as self-construction. The higher sales volumes resulted in a 9.8 per cent increase in revenues. Revenues increased 9.8 per cent mainly due to the increase in sales v...
Gulf Cement narrows loss
UAE-based Gulf Cement reported a fall in revenues to AED443.6m (US$120.8m) in 2019, down from AED475.7m in 2018. This represents a YoY drop of 6.7 per cent. The company’s loss narrowed from AED33m in 2018 to AED26.8m. Gulf Cement operates a 2.7Mta integrated cement plant in Khor Khuir, Ras Al Khaimah. It has a clinker capacity of 3.8Mta.
India’s Saurashtra Cement posts Oct-Dec 19 net profit
Saurashtra Cement has reported a net revenue from operations of INR1.52bn (US$21.3m) in October-December 2019 from INR1.58bn in the year-ago period. The company achieved a net profit of INR189.5m in the October-December 2019 quarter, a considerable improvement when compared with the INR6.7m loss reported in October-December 2018.
Yamama Cement reports full-year profit
Saudi Arabia-based Yamama Cement Co has posted full-year 2019 sales of SAR801.9m, representing a 53.9 per cent increase when compared with SAR521.2m in 2018. The company’s net profit after zakat and tax was SAR256.3m in 2019, when compared with a loss of SAR58.1m in the previous year.
Eagle Materials announces new chairman and CEO for independent companies
The Eagle Materials Inc Board of Directors approved a plan in 2019 to separate its Heavy and Light Materials businesses into independent, publicly-traded companies by means of a tax-free spin-off to Eagle shareholders. Significant progress has been made on this plan since the announcement, and the Company continues to target the summer of 2020 for the completion of the separation. The Board...
HeidelbergCement expects debottlenecking grinding capacity by end March
HeidelbergCement expects to complete its debottlenecking of cement grinding capacity in Imlai (Madhya Pradesh) and Jhansi (Uttar Pradesh) to be completed by 31 March 2020. The project represents an investment of INR207m (US$2.9m) and is being met through internal accruals, according to Accord Fintech. Upon completion the company’s total grinding capacity would reached 6.26Mta.