Cement News tagged: Corporate
City Cement reports drop in net profit in 2022
Sales of Saudi-Arabia-based City Cement saw a 13.1 per cent fall to SAR431.4m (US$115m) in 2022 from SAR496.7m in 2021, reports Reuters. Net profit after zakat and tax was down 28.3 per cent YoY to SAR115m from SAR160.3m in 2021. City Cement operates a 5.28Mta integrated cement plant at Marat , northwest of Riyadh in central Saudi Arabia.
Akmenes Cementas to import SRF to replace coal
Lithuania-based Akmenes Cementas plans to import up to 200,000t of solid recovered fuel (SRF) each year, replacing its use of coal. According to the Baltic Business Daily, the company currently uses around 130,000t of coal each year. By 2024 SRF will replace 75 per cent of the coal, rising to 90 per cent by the end of 2027. Akmenes Cementas is reportedly in the process of installing spec...
TCL raises cement price
Trinidad Cement Ltd (TCL), part of CEMEX, will increase its cement prices by 20 March 2023. TCL TTD43.65 (US$6.44)/42.5kg bag and by eight per cent for Premium Plus to TTD47.83/bag. “Cement prices are in fact set to be marginally adjusted, taking into consideration some of the rising cost factors with which TCL is faced,” said the company. While cement is locally produced and had not been ...
Holcim supplies landmark Croatian tunnel
Holcim has supplied more than 120,000m 3 of its ECOPact low-carbon concrete to a tunnel project in Croatia, reducing the project’s CO 2 emissions by 30 per cent. In addition, material from the excavation of the tunnel was used in the manufacture of the concrete, saving over 200,000t of virgin aggregates. The Istrian Y Motorway is a landmark project in Croatia, which relies heavily on it...
Holcim acquires Polish recast concrete producer
Holcim has acquired HM Factory, a provider of precast concrete solutions with net sales of CHF18m. Its solutions cover a wide variety of needs, such as walls, staircases and balconies. HM Factory is ideally positioned to capitalise on growth in industrial and residential construction. The company supplies Polish construction projects as well as exporting to Scandinavian markets. Miljan Gu...
Votorantim records strong Brazilian revenue in 2022 regional results
In Brazil Votorantim Cimentos 2022 net revenue was BRL12.7bn (US$2.4bn), 23 per cent higher than in 2021. Positive price dynamics offset the slight drop in cement sales, mainly in the self-construction segment, which was impacted by the economic situation but also partially offset by the real estate and infrastructure sectors. Adjusted EBITDA was BRL2.4bn, up two per cent when compared with ...
PPC expects drop in South Africa and Botswana sales volumes
South Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for...
China Shanshui Cement preliminary profit down 73%
China Shanshui Cement has posted a preliminary profit for the full year of CNY748.7m, down 73.0 per cent YoY on the back of falling sales, according to Reuters. The company’s operating revenue in 2022 reached CNY21.49bn. Going forward, the group will focus on improving product quality and reducing costs. Cement demand, which was sluggish throughout 2022, is expected to stabilise and decline ...
Votorantim Cimentos posts net revenue of BRL25.8bn in 2022
Votorantim Cimentos ended 2022 with BRL25.8bn (US$4.84bn) in global net revenue, an increase of 16 per cent compared to 2021, resulting from a stable sales volume and favourable price dynamics in all regions where it operates, which mitigated cost pressures and the impact of the exchange rate in the year. Cement sales in the countries where the company has operations totalled to 36.8Mt, one...
Dalmia Cement and Vedanta Aluminium team up to produce low-carbon cement
Vedanta Aluminium has entered into a long-term partnership with Dalmia Cement (Bharat) for the supply of industrial wastes such as fly ash and spent pot lining (SPL) to produce low-carbon cement. Under the agreement, Vedanta’s large aluminium smelter at Jharsuguda will transport around 20 rakes of fly ash per month for five years to Dalmia’s cement plants in Odisha, Chhattisgarh, Meghalay...
Yanbu Cement full-year profit up 35%
Saudi Arabia-based Yanbu Cement has reported a 35 per cent increase in full-year net profit to SAR215.41m (US$57.44m) from SAR159.56m in the year-ago period. Sales were up five per cent YoY to SAR981.17m from SAR934.03m on the back of improved selling prices in the domestic and export markets. In addition, the cost of sales decreased. Clinker production increased.
Continental Cement Co to open new cement storage facility
Continental Cement Co, LLC ( Summit Materials, Inc ) will host a ribbon cutting event for its new cement storage dome in Davenport , Iowa, USA, on 20 March 2023. “The investment by Summit Materials of approximately US$30m in the largest cement storage dome in North America, represents a strong vote of confidence in Continental Cement and a commitment to sustained operations and investm...
CEMEX releases a new logo
Cemex has unveiled an updated brand in line with its ongoing evolution to help the world reach the next frontier of sustainable living, by becoming a more agile, innovative and approachable company. Cemex’s logo, changing for the first time in over 30 years, presents a fresher, closer, and more dynamic visual identity while maintaining key elements of the company’s legacy and storied 117-ye...
Nexe plans EUR400m decarbonisation investment
Croatia-based Nexe announced a EUR400m project to construct a new carbon-neutral clinker production line at its Našice cement plant. The project will also enable the transportation and storage of 700,000t of CO2 at Bockovci-1, and creates opportunities for revenue generation. Nexe will seek financing from the EU’s Innovation fund. It has already signed an agreement with thyssenkrupp Indu...
Lucky Cement builds schools and vocational centres
Lucky Cement Ltd has announced the successful completion of its project to build a school in collaboration with The Citizen Foundation in Pezu, Khyber Pakhtunkhwa. The Abdul Razzak Tabba Block Lucky Cement Ltd Pezu Campus-I will provide primary education, while the Muhammad Yunus Tabba Block Pezu Campus-II will provide secondary education. The admissions for the first batch of 2023 are unde...
Oman Investment Authority starts sale of Oman Cement Co to Huaxin
The Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversi...