Cement News tagged: Corporate
JSW Cement invests US$360m in new plant
JSW Cement is planning to build a new cement plant in Rajasthan, giving the company access to India’s northern markets. The proposed facility will have a cement capacity of up to 3.3Mta and an 18MW power plant, according to Mint. The INR30,000m (US$360m) investment is being funded through a mix of equity and long-term debt. “The proposed investment to establish our integrated cement faci...
Eagle Materials expands Laramie plant
Eagle Materials has announced plans to modernise and expand its cement plant in Laramie, Wyoming, USA, and related distribution facilities, to serve the growing northern Colorado area, Nebraska, Utah and Wyoming. The upgraded plant and additional distribution facility in northern Colorado will feature state-of-the-art technology, designed to maximise operational efficiency and further streng...
Pakistan's cement export trend continues to excel in 10MFY23-24
Pakistan’s cement and clinker exports increased by 35.9 per cent in the 10MFY23-24 (July 2023-April 2024) to US$204.54m (5.301Mt), compared to US$150.48m (3.24Mt) in the 10MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 593 per cent to PKR58.21bn during the period, sustained by the local currency’s competitive rates a...
Buzzi to increase stake in Cement Nacional to 100%
Italy-based Buzzi SpA said it will increase its stake in Brazilian cement producer Cimento Nacional (NCPAR) to 100 per cent from the current 50 per cent as its joint venture partner, Grupo Ricardo Brennand , exercises its put option, according to a statement by the company. The price will be determined based on existing agreements and may also vary depending on the exchange rate of the r...
Udaipur Cement Works 4Q net profit up 17%
India-based Udaipur Cement Works posted a net revenue of INR34.835bn (US$418.3m) in the January-March 2024 quarter (4QFY23-24), an increase of 18.2 per cent YoY from INR29.464bn in the 4QFY22-23. The company’s net profit increased 17.2 per cent YoY to INR197.9m in the 4QFY23-24 from INR168.9m in the year-ago period. Operating expenses increased by 14.9 per cent to INR2.874bn in the 4QFY2...
The India Cements posts revenue advance YoY
The India Cements Ltd has reported standalone revenue of INR12,700.5m (US$152.6m) in the quarter ended 31 March 2024. This compares to INR10,987.3m in the previous quarter and INR14,788.9m in the same quarter in the previous year. A loss of INR293.3m was seen in the March 2024 quarter, up from the INR165.1m loss reported in the quarter ended 31 December 2023, but down from the INR2177.9m los...
Najran Cement net 1Q profit drops 26%
Saudi Arabia-based Najran Cement Co saw a 3.9 per cent decline to SAR138.12m (SAR36.83m) in the 1Q24 from SAR143.68m in the 1Q23. The company’s net profit saw a 25.7 per cent YoY fall to SAR21.54m in the 1Q24 from SAR28.98m. The earnings per share (EPS) amounted to SAR0.13 in the three-month period that ended on 31 March 2024, down from SAR0.17 in the corresponding period a year earlier....
Dandot Cement Co faces initial issues in trial production
According to Dandot Cement Co Ltd’s nine-month report, the company lost RPKR129m (US$0.463m) in 9MFY23-24, compared to PKR118m during the same months last year. The company’s loss is mainly attributable to frequent shutdowns of the cement mill and kiln, which result in reduced cement production and high raw material consumption. The company’s top officials stated in the report that after ...
Cementos Molins unveils new corporate identity
Cementos Molins has unveiled its new corporate identity with the new brand consolidating the company's various existing commercial brands in Spain under a single identity. Aligned with the new identity, Molins launches Susterra, its new range of sustainable solutions. The company is consolidating its commercial brands in Spain including, Cementos Molins Industrial, Promsa, Propamsa, Pret...
Afrimat boosts revenue by 24% in FY23-24 as Lafarge integration continues
Andries Van Heerden, Afrimat's Group CEO, stated that he was exceptionally pleased with the group’s performance for the year ended 29 February 2024, which was supported by a revenue increase of 23.9 per cent from ZAR4.9bn (US$268.9m) to ZAR6.1bn (US$334.8m). Operating profit increased by 19.8 per cent to total ZAR12bn (2023: ZAR961.6m), delivering an operating profit margin for the group of...
Al Jouf Cement sees net profit advance 21% in 1Q24
Saudi Arabia’s Al Jouf Cement Co saw its consolidated net profit advance to SAR12.45m (US$3.32m) in the first quarter of 2024, up 21.2 per cent from SAR10.27m in the same period a year earlier. Compared to the previous quarter, however, net profit was down 69.2 per cent from SAR40.46m. According to Zawya, revenue in the 1Q24 increased 16.8 per cent from SAR70.27m in the 1Q23 to SAR82.04m...
Thatta Cement Co shows strong profit growth in 9MFY23-24
Thatta Cement Co Ltd reported that in the nine months ending on 31 March (9MFY23-24), the company earned a net profit of PKR888.2m (US$3.19m) when compared to PKR80.6m in the year-ago period, representing a strong advance in net profit during the accounting period. The company's local sales, in terms of volume, increased by 21.2 per cent to 387,774t compared to the corresponding period of l...
Hume Cement doubles profits
Malaysia’s Hume Cement Industries has reported net profit of MYR61.06m (US$13.04m) in the third quarter of the current financial year, ended 31 March 2024. This has more than doubled compared to the same period a year earlier. Revenue over the same time frame advanced from MYR289m to MYR310.4m. According to the company, the increase in revenue and profit was due to lower manufacturing costs,...
Ciments de Bizerte posts 53% turnover drop in 1Q24 due to lack of petcoke
Tunisia-based Les Ciments de Bizerte saw a 52.6 per cent drop in turnover to TND12.262m (US$3.9m) in the first quarter of 2024 from TND25.858m. The drop in turnover was due to the halt in clinker production during the quarter. The company suspended clinker production in the 1Q24 due to a lack of petcoke following financial challenges that prevented the company from importing the kiln's sole...
CRH revenue up 2% YoY in 1Q24
CRH has reported total revenue of US$6.5bn in the opening quarter of 2024, ended 31 March. This marks a two per cent expansion compared to the same period a year earlier. Adjusted EBITDA over the 1Q24 came in at US$445m, up 15 per cent YoY, while the adjusted EBITDA margin advanced 80bps to 6.8 per cent. The gain in adjusted EBITDA was attributed to the continued delivery of the company’s in...
LafargeHolcim Bangladesh net profit stands BDT1.627bn in 1Q24
According to the latest quarterly report of LafargeHolcim Bangladesh Ltd ( LHBL), a frontline cement producer in Bangladesh, revenue and net profit shrank by three and 15 per cent, respectively, in the 1Q24. The prime reasons could be the increase in the cost of raw materials and the prevailing inflation in the country. In a statement, Iqbal Chowdhury, CEO, said: “The construction Industry...