Cement News tagged: Corporate
Akçansa Çimento reports increase in revenue and profit
Turkey’s Akçansa Çimento has announced revenue of TRY8.9bn (US$471.7m) in 2022, compared to TRY2.87bn in the previous year. Net profit over the same timeframe has risen from TRY303.6m to TRY1.52bn, according to Reuters.
Plants reopen as Adani resolves freight rate dispute
Adani Cement has announced that ACC and Ambuja Cements will resume operations at two plants in Himachal Pradesh, India, after resolving issues over freight rates. According to Reuters, all stakeholders have amicably resolved the issues on freight rates and operations at the Gagal and Darlaghat plants would resume on 21 February 2023. The parties have reportedly agreed to what equ...
Calderys and HarbisonWalker International appoint joint CEO
Following the completion of HarbisonWalker International (HWI)’s acquisition by Platinum Equity by way of a merger agreement, the global investment firm confirmed Calderys and HWI will join forces to create a leading world-class refractories solutions provider. Michel Cornelissen, currently president and CEO of Calderys, is appointed Global CEO of the combined company, effective immediately. ...
Confidence Cement issues shares for two new projects
Bangladesh-based Confidence Cement is planning to issue convertible preference shares worth BDT1500m (US$14.2m) to invest in associate companies and to repay a portion of its long-term loans. According to The Business Standard, the shares will be converted at a 20 per cent annual rate, and in five years the preferred shares will be fully converted into ordinary shares. “The preference shar...
Cemento Melón signs UN Global Compact
Cemento Melón recently signed the UN Global Compact, the largest corporate sustainability initiative in the world, and has become the first Chilean cement producer to do so. For the executive director of the Global Compact in Chile, Margarita Ducci, the incorporation of Cement Melón "is very relevant since it sets a standard for the industry and illuminates other companies in the field to...
Bestway Cement completes Punjab brownfield line
General Counsel and Company Secretary of Bestway Cement Ltd (BWCL), Hassan Niazi, informed Pakistan Stock Exchange (PSX) that the company has completed the construction and installation of a brownfield line at its Hattar plant in Punjab. The bourse filling adds that Hattat Line-II has a clinker capacity of 7200tpd and the new production line commenced cement production on 17 February...
Ambuja Cements 'preferred bidder' for Odisha limestone block
Ambuja Cements has been announced as the “preferred bidder” for the Uskalvagu limestone block in Malkangiri district, Odisha. According to Livemint, the company has not revealed the bid amount for the block but said it is spread over 547 hectares with estimated limestone resources of 141Mt. “The company shall get the statutory licences and permits related to mining operations to be decla...
Hoffmann Green signs contract with property developer
Hoffmann Green Cement has announced the signature of a three-year contract including volume commitments with Belin Promotion, a historical property developer located in the southwest of France. From 2023 and for the next three years, Hoffmann Green Cement will supply Belin Promotion with its zero per cent carbon-free clinker cements for the construction of several collective and terti...
NCLT approves Sagar Cements' acquisition of Andhra Cements
The Amravati bench of the National Company Law Tribunal (NCLT) has approved Sagar Cements' proposal to acquire Andhra Cements for INR9220m (US$111.3m). On 16 February the Sagar Cements board approved a plan to nearly double the capacity of Andhra Cements to 3Mta with a capital outlay of INR4680m, according to Money Control. Of the INR9220m proposed acquisition cost, Sagar Cements pl...
Vulcan Materials sees revenues advance in 2022 despite poor weather
Vulcan Materials has announced total revenue of US$7315m in 2022, up from US$5552m in the previous year. Adjusted EBITDA came in at US$1626m in 2022, compared to US$1451m in 2021, while gross profit advanced from US$1373m in 2021 to US$1558m 12 months later. In the fourth quarter of 2022, total revenue stood at US$1732m, versus US$1606m in the 4Q21. Adjusted EBITDA fell from US$383m in t...
UltraTech Cement Co commissions new capacity in Hirmi and Cuttack
UltraTech Cement Co has commissioned 1.30Mta of brownfield cement capacity at Hirmi, Chhattisgarh and 2.80Mta of greenfield grinding capacity at Cuttack, Odisha. This forms part of the on-going capacity expansion. With this commissioning the company’s total cement manufacturing capacity in India now stands at 126.95Mta.
Holcim acquires FDT Flachdach Technologie GmbH
Holcim has signed an agreement to acquire FDT Flachdach Technologie GmbH (FDT), a leading manufacturer of thermoplastic roofs with a strong presence in fast-growing European markets with 2022 net sales of EUR50m. As a technology and sustainability leader in its sector, FDT will complement Holcim’s integrated roofing offer and strengthen the geographical footprint of the business. With this a...
Bedeschi opens Australian subsidiary
Bulk material handling specialist, Bedeschi has announced the opening of its new subsidiary in Australia. With its head office in Perth and satellite offices in Port Hedland and Brisbane, Bedeschi Australia Pty Ltd will effectively serve its customers in the mining, port and agricultural Industries with a very experienced and well-known team in the market. Uwe Zulehner will act as the CE...
CCI gives green light to Dalmia acquisition of JAL
The Competition Commission of India ( CCI ) has approved an INR56,660m (US$685.7m) deal related to Dalmia Cement ’s acquisition of cement, clinker and power plants of Jaiprakash Associates Ltd (JAL), according to The Hindu Business Line. The acquisition will enable Dalmia Cement to expand its footprint into the central India region and emerge as a pan-India company...
LafargeHolcim Bangladesh appoints new CEO
The Board of LafargeHolcim Bangladesh Ltd (LHBL) has announced the appointment of Mohammad Iqbal Chowdhury as the new CEO for the company. Iqbal Chowdhury will succeed Rajesh Surana who has been promoted to area manager of east and south africa region for Holcim Group . Iqbal Chowdhury is the first Bangladeshi CEO of LHBL. He is a widely experienced professional with a strong commerci...
Grasim Industries sees profit tumble QoQ
Grasim Industries Ltd, which owns UltraTech Cement , has reported unaudited standalone total income from continuing operations of INR62,983.1m (US$760.4m) in the quarter ended 31 December 2022. This compares to INR75,007.5m in the previous quarter and INR58,252.9m in the same period a year earlier. Net profit advanced from INR5224.7m in the quarter ended 31 December 2021 to INR9643m in the...