Cement News tagged: Corporate
Heidelberg Materials divests its joint venture in Georgia
Heidelberg Materials has completed the divestment of its joint venture in Georgia. The company previously held a 45 per cent stake in CaucasusCement Holding BV, the parent company of HeidelbergCement Georgia Ltd and Terjola Quarry Ltd. Heidelberg Materials sold its share to its long-term joint venture partner Cement Invest BV, an investment company jointly managed and owned by the Georg...
Andrés Segú Undurraga resigns from Polpaico Board
Andrés Segú Undurraga has resigned from his position as director of Cemento Polpaico SA, Chile. His respective alternative director, José Tomás Edwards Alcalde, also resigned on 21 April. The company’s Board of Directors agreed to appoint Alejandro Gevert Detto as Mr Segú’ replacement, who will serve in this position until the next ordinary shareholders’ meeting when the Board of Director mu...
MOF Technologies rebrands to Nuada
MOF Technologies, a UK-based company whose technology efficiently captures CO 2 directly from industrial sources, is rebranding to Nuada. Nuada’s next-generation ‘heatless’ technology is redefining carbon (CO 2 ) capture, slashing the energy penalty and costs associated with CO 2 capture. The new name is an ode to the company’s Celtic origins and is inspired by the ancient...
Fauji Cement Co to become Pakistan's third-largest cement producer
Fauji Cement Co Ltd (FCCL) heads to become the third-largest cement producer with a total cement production capacity of 10.5Mta in Pakistan, according to AKD Research. FCCL commissioned its Nimazpur capacity expansion of a 2.05Mta plant at Khyber Pakhtunkhwa in late October 2022. Moreover, another capacity expansion for FCCL of 2.05Mta at Dera Ghazi Khan is in the pipeline and is expe...
Hoffmann Green has a busy start to 2Q23
Hoffmann Green Cement Technologies has announced a number of major achievements at the start of the 2Q23. Firstly, it has extended its contract with GCC until the end of 2025. GCC, one of France’s leading construction companies, first signed a contract with Hoffmann Green in 2020 but has now extended this by two years. “This partnership extension demonstrates the successful collaboration ...
Oman Cement sales advance in 1Q23
Oman Cement Co has reported sales of OMR19.5m (US$50.65m) in the opening quarter of 2023, ending 31 March 2023. This compares to OMR16.96m in the same period a year earlier. Net income in the first quarter came in at OMR2.04m, up from OMR0.9m in the first three months of 2022, reports Market Screener.
UltraTech Cement's Rawan plant wins Kaizen awards
UltraTech Cement ’s integrated cement manufacturing unit Rawan Cement Works, located in Rawan village of Raipur district, Chhattisgarh, has won three Platinum awards and one Silver award at the prestigious 45th Confederation of Indian Industry (CII) National Kaizen competition, organised by the CII Institute of Quality. These awards are a recognition of the unit team’s commitment to cust...
Holcim reports 8% organic growth in 1Q23
Holcim has reported organic sales growth of eight per cent to CHF5725m (US$6401m) in the first quarter of 2023. Over the same period, recurring EBIT came in at CHF493m, marking 12 per cent organic growth. “ This profitable growth was led by strong performances across our building materials businesses. Our teams continued our fast-paced execution, with 12 value-accretive acquisitions, in...
Breedon opens new laboratory
Breedon has opened the doors to its brand new laboratory in East Kilbride, Scotland, which has undergone extensive renovation and redesign after being merged with its Gartshore laboratory in Glasgow. According to the company, visitors got a behind-the-scenes look at the new space where Breedon’s scientists and engineers test and design new products. As well as working on products such as...
Fortera appoints VP of Intellectual Property
Renewable energy and cleantech attorney Dan Cummings has joined Fortera Corp as General Counsel and Vice President of Intellectual Property. “As we forge a pathway to net-zero cement in partnership with manufacturers, builders, and government, we are expanding our mission-aligned executive team with deep expertise and professional networks within the green economy like Dan Cummings,” sa...
Cement industry profits are impacted by burgeoning financing costs
Spectrum Research has reported that sluggish economic activities lead to a decline in Pakistan's construction materials demand, mainly cement and steel. The higher inflation and low purchasing power primarily contributed to reduced cement dispatches. Moreover, the higher interest rate increases the financing cost and reduces the sector's bottom line. This would be reflected in the financial r...
Mannok Holdings records 18% rise in turnover in 2022
Mannok Holdings 2022 operating performance for the 12 months ended 31 December 2022, saw turnover increased by 17.7 per cent on the prior year period from EUR269.9m to EUR317.7m, largely driven by inflationary induced pricing. Despite the inflationary environment, EBITDA was unchanged on the prior year period at EUR25.8m, reflecting a gradual pass through of rising input costs, fl...
Buzzi Unicem reports on sustainability achievements
Buzzi Unicem has lowered its specific gross scope 1 CO 2 emissions from 689kg/t cementitious product in 2021 to 664kg/t in 2022, according to its 2022 Sustainability Report. This marks a 3.6 per cent reduction YoY. Compared to 2020, scope 1 CO 2 emissions are down 4.3 per cent. Specific thermal consumption has fallen from 4138MJ/t clinker in 2020 to 4106MJ/t in 2021 and 4084MJ/t in 2022. ...
UltraTech commissions 2.2Mta grinding unit expansion
UltraTech Cement has commissioned its 2.2Mta grinding unit expansion at Patliputra , Bihar, India. According to the company, the additional capacity will help increase its presence in the fast-growing East region as well as expanding its blended cement ratio. UltraTech’s cement production capacity in the state now stands at 4.7Mta, while its total capacity in India has risen to 129.15Mta...
Laing O'Rourke makes low-carbon concrete mandatory in UK
International engineering and construction firm Laing O’Rourke has announced that low-carbon concrete is now standard on all its UK projects. The new mandate, which applies to all UK projects that begin main construction on or after 1 April 2023, will result in a significant reduction in the company’s scope 3 carbon emissions. According to the company, the overall carbon reduction will be 28 p...
Fauji Cement reports 30% leap in profit in 9MFY22-23
Pakistan’s Fauji Cement Company has reported a 30.4 per cent YoY increase in profit in the nine months ended 31 March 2023 (9MFY22-23). Profit over the period came in at PKR6.97bn (US$24.67m), up from PKR5.35bn in the same period a year earlier. The increase is being attributed to higher gross margins and net finance income, according to Mettis Link News. Net revenue over the nine months ...