Cement News tagged: Corporate
Northern Region Cement awards EPC contract for new line
KHD Humboldt Wedag and AVIC have been awarded a major EPC contract for engineering, equipment supply, construction, commissioning and site services for a new 3500tpd production line for Northern Region Cement Co , Saudi Arabia. The plant will be located in Iraq and marks a total investment of around US$139m. KHD Humboldt Wedag will design and deliver the plant with the latest sustainabili...
JK Cement reports uptick in revenue
JK Cement Ltd has posted total revenue of INR25,984m (US$312.3m) in the three months ended 30 September 2023. This compares to INR21,584m in the same period a year earlier. Profit after tax for the September 2023 quarter came in at INR1789m, up from INR1257m in the same quarter in 2022. Basic and diluted earnings per share over the same period advanced from INR16.15 to INR23.16. Meanwhil...
Premier Cement Mills continues to report losses in FY22-23
Bangladesh cement producer Premier Cement Mills (PCM) announced its financial results for the Fy22-23, which ended 30 June 2023, a week before. It reported a loss after taxation of BDT842m (US$7.65m) against a deeper loss of BDT1.32bn incurred during the same period last year. The loss can be attributed to the high cost of raw materials during this period despite increased revenue. PCM’s ne...
UNTHA appoints global marketing director
Austria-based shredding technology specialist UNTHA has appointed a new global marketing director as part of its plans for significant growth over the next five years. Katie Mallinson has joined the EUR80m turnover company following almost 15 years working with the business as a supplier. Until recently, she was managing director of global communications firm Scriba PR, which she founded in 2...
Martin Marietta posts improved 3Q results
Martin Marietta Materials Inc posted total revenues of US$1994.1m in the 3Q23, up 10.1 per cent YoY from US$1811.7m. Gross profit improved 38.6 per cent YoY to US$676m in the 3Q23 from US$487.8m. Net earnings from continuing operations saw a 47.8 per cent YoY increase to US$430.3m from US$291.2m in the year-ago period while adjusted EBITDA improved 32.2 per cent YoY to US$705.2m from US$533....
Saudi Cement sees drop in 3Q profit
Saudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative exp...
SRM Group ventures into cement
India’s SRM Group has entered the cement business with the launch of a new subsidiary, SRMPR Cement. The Chennai-based company invested INR2250m in a 420,000tpa cement capacity with three production facilities in Tamil Nadu and one in Andhra Pradesh. It wil start exporting Portland pozzolana cement from 15 November to countries including the Maldives, Indonesia and Sri Lanka. SRMPR Cement f...
JK Lakshmi Cement to invest INR2.25bn in Surat expansion
JK Lakshmi Cement announced it will be spending INR2.25bn (US$27m) to expand its Surat plant in Gujarat, India. Cement capacity at the plant will be increased by 1.35Mta by setting up an additional grinding unit, the company said. The project is expected to be completed within two years and will see the doubling of existing capacity. It will be financed through a mix of term loans and in...
Kakatiya Cement returns to black in 2QFY23-24
India-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period. Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equival...
Attock Cement re-appoints Nawaz as CEO
Attock Cement Pakistan informed Pakistan Stock Exchange Ltd (PSX) on 3 November that after the recent election of directors held on 23 October 2023, Babar Bashir Nawaz was re-appointed as chief executive officer by the Board of Directors of the company with immediate effect.
Indonesia’s increased 9M23 demand sees positive results for key producers
Indonesian cement consumption increased 4.4 per cent YoY and 2.7 per cent MoM to 6.12Mt in October 2023, as infrastructure projects in Sumatra were completed and work progressed on the Indonesian National Capital (IKN) project in Kalimantan, according to the Indonesian Cement Association (ASI). In the first nine months of 2023, demand reached 45.3Mt. PT Semen Indonesia Tbk and Indocement ...
Inauguration of Sokoto plant expansion by January 2024
BUA Cement has revealed its plan to inaugurate its Sokoto plant expansion by January 2024. Abdulsamad Rabiu, the Chairman of BUA Group , made this announcement during his visit to Governor Ahmad Aliyu in Sokoto this week. Mr Rabiu said that the company was diligently working to ensure the new plant, currently under construction in Sokoto state, Nigeria, would be ready for the inaugu...
Umm Al Qura Cement and City Cement see fall in profit
Saudi-Arabia-based Umm Al Qura Cement Co reported net profits of SAR1.44m (US$0.38m), representing a 76.4 per cent drop YoY from SAR6.12m in the third quarter of 2023. Revenues decreased by 38.2 per cent YoY to SAR33.51m from SAR54.2m in the 3Q23. In the first nine months of 2023 the company posted net profits of SAR10.05m, down 65.7 per cent YoY from SAR29.3m. Revenues fell by 33.9 per cen...
Grupo UNACEM completes Tehachapi acquisition
Grupo UNACEM has successfully completed the acquisition of the 0.9Mta Tehachapi integrated cement plant, located in California, USA. This significant milestone enables the Peruvian cement producer to double its installed capacity and strengthen its position in the competitive southwestern market in the United States. Grupo UNACEM has extended a warm welcome to the Tehachapi ceme...
Ambuja Cement reports quadrupling 2Q profit
Ambuja Cements , part of Adani Cement Industries , saw profit quadruple in the 2QFY23-24 to INR6440m (US$77.4m) from INR1390m in the year-ago quarter. The company’s revenue advanced eight per cent YoY to INR39,700m in the 2QFY23-24 while cement and clinker sales volumes advance seven per cent to 7.6Mt. Ambuja Cements saw its expenses decline by two per cent YoY with fuel costs down by ne...
India Cements narrows 2Q loss
The India Cements Ltd reported a lower net loss of INR810m (US$9.7m) in the 2QFY23-24 compared with a net loss of INR1380m in the year-ago period. EBITDTA for the 2QFY23-24 reached INR140m vs -INR870m in the 2QFY22-23, with the company seeing a net profit for the coming quarters, as price realisations improve and cost pressures soften. Total income slipped 2.5 per cent to INR12.28bn in the...