Cement News tagged: Corporate
Buzzi's Maryneal plant breaks production records
Buzzi 's Maryneal plant in the USA reached record production levels in 2022 with clinker production of 1.03Mt and cement production of 1.18Mt, over 4.6 per cent above expectations. The 2022 figures also beat the 2021 figures, with clinker production coming in three per cent higher and cement production 2.5 per cent higher. “We’ve implemented strategies to keep reliable assets which a...
CEMEX acquires Kiesel
CEMEX has agreed to acquire Kiesel, a mortars and adhesives technological leader in the construction industry based in Germany, as part of its ongoing strategy to strengthen CEMEX’s Urbanization Solution business through bolt-on acquisitions. “We remain committed to increasing our capacity to serve growing urban markets with more sustainable and innovative solutions,” said Sergio Menénde...
Gharibwal Cement's profit decreases in FY23
Gharibwal Cement Ltd (GWLC) announced its financial results for 30 June 2023, on the Pakistan Stock Exchange’s 27 September 2023 website. The company saw a decrease in its profit to PKR1.23bn (US$430.1m) from PKR1.35bn earned in the same period last year. This represents a nine per cent YoY fall in profit YoY. The major factors responsible for this reduction were increased sales, selling a...
Hoffmann Green signs partnership with POINT.P
Hoffmann Green Cement Technologies has signed a structuring partnership with the flagship brand POINT.P to distribute clinker-free cement. Through its network of over 1000 sales outlets, POINT.P markets all the products, solutions and services needed to build a sustainable home. Following the agreement, POINT.P is continuing its efforts to deploy low-carbon solutions in line with its ob...
Raysut Cement appoint a new CEO
Raysut Cement Co has appointed Mr Tarek Talaat as its new CEO. Mr Talaat has 30 years of experience in the cement sector. He has worked at several leading companies in his career, including Holcim, Arabian Cement and Ras Al Khaimah White Cement. Mr Talaat has a bachelor’s degree in civil engineering from Cairo University in 1990 and studied financial management at the French INSEAD Un...
Dewan Cement reports losses on higher costs in FY22-23
Dewan Cement Ltd (DCL), subsidiary of Mega Conglomerate Pvt Ltd posted its financial results for FY22-23 on the Pakistan Stock Exchange (PSX) website on 26 September 2023. It reported a loss after taxation of -PKR586m against a loss of -PKR703m reported in a comparative period last year. The lower loss is attributed to the high cost of sales during this period despite better earnings of ot...
Thatta Cement's profit increased in FY22-23 and plans share buyback
Thatta Cement Co Ltd (THCCL) announced its financial results for the year ended 30 June 2023 (FY22-23) at the Pakistan Stock Exchange (PSX) on 27 September. It reported an increase in profit after tax to PKR249m (US$0.86m) from PKR119m earned in the corresponding period last year. This reflects a growth of 109 per cent YoY, mostly due to higher sales and other income that made the company re...
Saint-Gobain to acquire Adfil NV
Saint-Gobain has entered into an agreement to acquire Adfil NV, a specialist in fibres for concrete reinforcement. Adfil operates two plants in Belgium and generated revenues close to EUR40m in 2022. In addition to Chryso and GCP’s admixtures, Adfil’s performance fibres contribute to the reduction of reinforced concrete’s CO 2 footprint, the improvement of lead times and productivity for cons...
BCMA re-elects Kabir as President for two years
MD Alamgir Kabir has been re-elected as President of the Bangladesh Cement Manufacturers Association (BCMA) for 2023-24 and 2024-25 during the 22nd and 23rd AGMs held in Dhaka on 26 September. He is sponsor director and vice chairman of MI Cement Factory Ltd and has over three decades of business experience in the trading and manufacturing sectors. At present, he is also chairman of GPH I...
Holcim US rolls out ECOPact to Dallas-Fort Worth
Building on the success and growth of its ECOPact low-carbon concrete, Holcim US has now introduced the sustainable construction material in the rapidly expanding Dallas-Fort Worth metroplex. An industrywide commitment to lowering the carbon footprint of the built environment is driving the construction sector to act quickly to decarbonise by midcentury, says Holcim. “Dallas-Fort W...
Keerthi Industries reports 4% drop in revenue
Keerthi Industries Ltd (formerly Suvarna Cements Ltd) has reported revenue of INR2405.6m (US$28.9m) in the FY22-23, ended 31 March 2023, down four per cent compared to INR2499.5m in the same period a year earlier. Profit before interest and depreciation declined from INR348.5m in FY21-22 to INR17.4m a year later, while the INR222.5m pretax profit seen in FY2021-22 fell to a loss of -INR110.7...
Shree Cement approves NCDs to fund expansion
Shree Cement has approved plans to raise INR7000m (US$84.11m) through the issue of non-convertible debentures (NCD) on a private placement basis. According to Realty, the secured, rated, redeemable and taxable NCDs with a base issue size of INR3500m, with an option to retain oversubscription of up to INR3500m, will be allotted today (26 September 2023) at a face value of INR100,000 each for ...
Zimbabwe boosts PPC sales growth
PPC has recorded a three per cent advance in sales volumes in the five months to August 2023, compared to the same period in 2022, reports The Herald Zimbabwe. According to the company, the increase is being attributed to strong growth in its Zimbabwe market, which saw cement sales volumes expand by 42 per cent over the same timeframe. In January this year, the Zimbabwean government banned i...
Anjani Portland Cement appoints new CFO
Rajesh Kumar Dhoot has been appointed chief financial officer of Anjani Portland Cement, effective from 1 October 2023. He succeeds Mr R S Ramanjaneyulu who resigned from the position due to personal reasons. Mr Dhoot is a chartered accountant with over 27 years of experience in various industries, including cement, sugar and textiles. He has worked in the cement industries for 17 years wi...
Maple Leaf Cement Factory reveals export risks
Maple Leaf Cement Factory Ltd (MLCFL), subsidiary of Kohinoor Textile Mills , said it has achieved the highest sales of PKR62bn (US$211.7m) and the highest ever operating profit of PKR12bn in FY22-23. Further, the company installed new Line 4 during the last financial year, having a capacity of 7000tpd in Iskanderabad, Mianwali district, Pakistan, according to the detailed annual report of ...
CRH completes latest phase of buyback
CRH plc has completed the latest phase of its share buyback programme, returning a further US$1bn in cash to shareholders. Between 30 June 2023 and 22 September 2023, 17.7m ordinary shares were repurchased on Euronext Dublin and the London Stock Exchange. This brings total cash returned to shareholders under the company’s ongoing share buyback programme to US$6bn since its commencement in Ma...