Cement News tagged: Corporate
Applied Rigaku Technologies INC moves to new offices
Applied Rigaku Technologies Inc, a division of the analytical and industrial instrumentation technology company Rigaku Corp, announces its relocation to a 20,260ft 2 facility in Cedar Park, Texas,USA. The company, a leading provider of Rigaku EDXRF (energy dispersive X-ray fluorescence) products, is excited about this move, which reflects its commitment to growth and providing its cu...
Breedon reports solid 1H23
Breedon Group plc announced its unaudited interim results for the first six months of 2023, ended 30 June. Revenues for the UK-based construction materials group increased by 11 per cent YoY to GBP742.7m (US$958.7m), but EBIT saw a five per cent drop YoY to GBP62.1m in the 1H23. On a like-for-like basis (adjusting for six bolt-on acquisition in the last 12 months), revenue increased by sev...
Argos receives US$272m sustainability-linked loan
Colombia’s Banco de Bogotá has disbursed a US$272m sustainability-linked loan to Cementos Argos . The agreement allows a gradual reduction in interest rate subject to the cement producer’s compliance with two environmental indicators: net specific CO 2 emissions and a supplier sustainability assessment. The loan has a repayment term of 60 months with a 24-month grace period. Under the cond...
Shree Cement 1QFY23-24 profits jumps INR5723m
Shree Cement ’s first quarter profit for the FY23-24 rose to INR5723m (US$69.7m), up 104.8 per cent in comparison to INR2795m during the corresponding quarter of last year. It posted revenue from operations at INR50,648.3m, up 14.7 per cent as against INR4,4148.5m during the 1QFY22-23. The company’s EBITDA stood at INR9326m. The company posted total income for the quarter at INR52,339m,...
Siam City Cement posts 1Q23 revenue of THB1188m in Vietnam
Thailand-based Siam City Cement Co (SCCC) has posted a revenue of THB1188m (US$34.5m) from its Siam City Cement Vietnam business in Vietnam in the first quarter of 2023. This represents a 33.6 per cent YoY drop. EBITDA of the Vietnamese operations was -THB52m in the 1Q23, compared with THB371m in the 1Q22. As a result, the EBITDA margin declined from 20.7 per cent in the 1Q22 to -4.4 in ...
Orient Cement enters agreement to acquire stake in Ardeur Renewables
India-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisi...
Bamburi Cement appoints new board director and company secretary
Kenya-based Bamburi Cement , part of Holcim Ltd , appointed Claudia Albertini, as new non-executive director, and Joyce Munene as company secretary. Ms Albertini has over 26 years of experience in finance and accounting. She is currently Holcim Group’s CFO for Asia, Middle East and Africa region and has held a range of senior positions within Holcim Group Services over the past 23 years. S...
LafargeHolcim Bangladesh posts growth of 66% in 1H23
LafargeHolcim Bangladesh Ltd (LHBL) has reported a 66 per cent growth in profit to BDT3615m (US$33.3m) in 1H2023 (Jan-Jun 2023) compared to BDT2173m in the same period last year, according to the company’s unaudited financial result made public on 19 July. The net sales increased to BDT15,256m from BDT11,272m, translating to a 35 per cent expansion during this period. Iqbal Chowdhur...
Cementos Pacasmayo sees 9% drop in 2Q net profit
Peru-based Cementos Pacasmayo reported a 12.1 per cent YoY drop in revenues to PEN442m (US$123.4m) in the second quarter of 2023, due to a drop in demand, which was affected by severe rainfall due to cyclone Yaku and a stagnation in public investment as a result of new regional authorities. Sales volumes of cement, concrete and precast fell by 17.9 per cent YoY. The company achieved consol...
Dalmia Bharat sees revenue advance YoY in June quarter
Dalmia Bharat has reported its unaudited consolidated results for the quarter ended 30 June 2023, with revenue from operations coming in at INR36,240m (US$442m) over the three-month period. This compares to INR39,120m in the previous quarter, and INR33,020m in the same period a year earlier. Profit for the June 2023 quarter stood at INR1440m, down from INR6080m in the previous quarter and IN...
InterCement assets in Brazil and Argentina are on other players' radar
According to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market. According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official c...
CEMTEC INC launches in North America
CEMTEC INC, subsidiary of Cemtec Cement and Mining Technology GmbH, headquartered in Enns, Austria , is ready to serve customers in North America. CEMTEC INC has already received several new orders. This expansion marks a significant milestone in our commitment to providing unparalleled services to the group’s valued North American clients. As a global leader in solutions for the...
CEMEX celebrates 25 years of Patrimonio Hoy
Patrimonio Hoy, the flagship of CEMEX ’s social impact strategy, celebrated 25 years of transforming people's lives on 19 July, 2023. Launched in Mexico in 1998, the programme aims to provide access to “dignified, resilient housing” by offering expert building advice, access to micro financing, and building materials. By the end of 2022, the Patrimonio Hoy programme had benefitted 650,000...
Salonit Anhovo to become Alpacem Cement Slovenia
Slovenia’s Salonit Anhovo is changing its name to Alpacem Cement Slovenia. The announcement was made following the company’s general meeting on 14 July 2023. “We have been considering changing the brand for several years, now we think the moment is right,” says Tomaž Vuk, company president. He added that there has been a trend in the cement industry for “brands to connect into larger ent...
HeidelbergCement India reports marginal uptick in revenue
HeidelbergCement India has reported revenue of INR5956.4m (US$72.5m) in the first quarter of FY2023-24 ended 30 June 2023. This is up marginally on the INR5898m seen in the same period a year earlier. Net profit over the same timeframe advanced 1.37 per cent to INR523.2m as fuel and packaging costs eased. The company’s total expenses over the quarter were INR5389m, up 1.51 per cent YoY, ...
China Shanshui issues profit warning
China Shanshui Cement Group Ltd has issued a profit warning for the opening six months of 2023. The company has said that it expects to report a YoY fall in profit of 145-150 per cent compared to the same period a year earlier. According to the company, the contraction is due to the lower price of its cement products over the six-month period.