Cement News tagged: Corporate
Maple Leaf Cement to move into hospital sector
Pakistan’s Maple Leaf Cement (MLCF) is investing PKR800-900m (US$2.77-3.12m) in a new solar power plant. The plant is expected to have a production capacity of 7.5MW. The company has also announced plans to diversify into the health business with the construction of a hospital. According to the company, the margins would be better than those seen in the cement business. The hospital project ...
PPC reports 21% advance in revenue in 1HFY24
PPC has posted revenue of ZAR6172m (US$335.2m) in the 1HFY24 (ended 30 September 2023), up 20.9 per cent YoY. EBITDA advanced from ZAR728m in the 1HFY23 to ZAR1069m in the same period a year later, while the EBITDA margin advanced three percentage points to 17.3 per cent. Capex over the six-month period came in at ZAR220m. Operating profit improved from ZAR273m to ZAR675m. In the 1HFY24, ...
Shortlist of candidates for CIMA sale
Seven companies have been identified as potential purchasers of Cement Industries of Malaysia Bhd (CIMA), part of the UEM Group Bhd. According to The Edge Malaysia, of the seven shortlisted candidates, at least three are believed to be foreign - one from Germany, another from the Philippines and one from China. One source reportedly confirmed that none of the candidates are CIMA competit...
EBRD and A³&Co support Arabian Cement on net zero journey
The European Bank for Reconstruction and Development (EBRD) and consulting firm A³&Co ® have joined forces to support Egypt’s Arabian Cement Co in its transition to net zero. According to Zawya, the collaboration aims to develop a decarbonisation roadmap for the cement producer that not only reduces carbon emissions but also lowers costs by accelerating the production of low carbon cement, ...
Aramit Cement reports ongoing losses
Bangladesh-based Aramit Cement Plc has announced its financial results for the 1QFY23-24 (July -September 2023) and FY23 (July 2022 –June 2023). The company reported an extending net loss after tax of BDT136.07m (US$1.23m) between July and September 2023 against a loss of BDT89.59m during the same period last year. The noticeable loss in the 1QFY23-24 was due to the contract in sales growth ...
PPC sells Cimwera to National Cement Holding Ltd for US$42.5m
PPC Ltd has completed the sale of its 51 per cent stake in Rwandan cement producer Cimerwa to National Cement Holding Ltd for a cash consideration of US$42.5m. The deal is a significant step in PPC's strategic shift to focus on its southern African operations and improve its financial leverage. The share transfer is set to take place seven business days after the necessary conditions are ...
Cement Industries (Sabah) reopens plant
Malaysia-based Cement Industries (Sabah) Sdn Bhd ’s cement plant at Sepanggar is operational again after a machinery breakdown. The facility experienced what the company described as a “major main machinery breakdown” in October this year, resulting in its production capacity declining from 2400tpd to 1400tpd, significantly disrupting supplies. According to the Daily Express, repairs wer...
Hume Cement sees return to profit in 1QFY23-24
Malaysia-based Hume Cement reported a MYR48.33m net profit for the 1QFY23-24, ended 30 September 2023 versus a net loss of MYR12.04m in the year-ago period. Revenues advanced to MYR306.66m in the 1QFY23-24 from MYR206.79m in the 1QFY22-23. The increase was attributed to a revision in the selling price of cement to help offset the rise in energy costs and the higher cement sales volume as the...
CEMEX and FREE to develop new solar power project
CEMEX Philippines has signed an agreement with Filinvest-ENGIE Renewable Energy Enterprise, Inc (FREE) for a 10.08MW solar project at CEMEX’s cement plant in Naga City , Cebu. The project, which will be a ground-mounted solar system, is expected to avoid 10,000Mt of CO 2 each year, reports BusinessWorld. “This solar energy partnership is another milestone under CEMEXs Future in Action ...
New ACC plant marks third investment by Holcim Romania
Holcim Romania has completed its EUR15m investment in its autoclaved aerated concrete (AAC) plant in Adjud, expanding the unit’s capacity by approximately 45 per cent. The project involved the replacement of the old production line and the introduction of new technology enabling increased dimensional accuracy and a better surface and edge finish, reports bne IntelliNews. “Together with o...
Crown Cement posts profit of BDT343m in 1QFY23-24
Crown Cement Plc of Bangladesh announced its financial results for the 1QFY23-24. The company reported a profit after taxation of BDT343m (US$3.09m) between July and September 2023 against a loss of BDT53m during the same period last year. The remarkable recovery in the 1QFY23-24 was due to sales growth and a price increase of 10.56 per cent compared to the previous year's first quarter, sai...
TPI Polene reports 10% sales drop in 9M23
TPI Polene ’s sales performance in the 9M23 was 10 per cent lower YoY to THB33,528m (US$945.5m), while EBITDA generated was down 27 per cent YoY to THB8127m. The main factor for the lower performance this year was the 44 per cent YoY decline in the sales of the Specialty Polymer/Chemical division to THB6488m because of lower product prices and volume disruption early this year due to major ma...
Holcim US rebrand reaches Atlanta
Holcim US has announced that the expansion of its rebrand has now touched down in Atlanta, Georgia, one of its major cement distribution markets. The transition will see the company refresh its branding and renew its commitment to sustainability as part of the global focus on becoming a net-zero company. With cement terminals in Cartersville, Duluth and Covington, Georgia, the rebranding...
Shree Cement pledges to boost share of premium products
Shree Cement plans to expand the share of premium products as part of its total sales to 12 per cent over the next six months. This compares to just 9.5 per cent in the 2QFY23-24. According to the company, this will be achieved through the “right pricing”, reports The Hindu Business Line. In the 2QFY22-23, premium products accounted for 7.5 per cent of trade sales. “Regarding premiumisat...
Holcim exits Uganda and Tanzania
Holcim has signed agreements to divest its businesses in Uganda and Tanzania. It has agreed to sell Hima Cement Ltd , its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120m. Holcim has also agreed to sell its 65 per cent share in Mbeya Cement Co Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtain...
SMC posts 141% YoY rise in income
Philippines-based San Miguel Corp (SMC), which owns Eagle Cement Corp , Northern Cement Corp and Southern Concrete Industries , has recorded net income of PHP31.2bn (US$556.7m) in the first nine months of 2023, up 141 per cent from the PHP12.9bn seen in the same period a year earlier. Consolidated revenue over the same timeframe declined five per cent to PHP1.1trn, reports Manila Bull...