Cement News tagged: Corporate
The India Cements Ltd sees revenue slip MoM
The India Cements Ltd has reported revenue from operations of INR12,194m (US$147.3m) in the quarter ended 31 December 2022. This compares to INR12,546m in the previous quarter and INR11,084m in the quarter ended 31 December 2021. In the October-December 2022 quarter, the company saw a profit of INR907.3m, compared to a loss of INR1375m in the previous quarter and a profit of INR33m in the sa...
JK Cement reports revenue rise
JK Cement Ltd reported total revenue of INR23,097.8m (US$279.5m) in the quarter ended 31 December 2022. This compares to INR21,646m in the previous quarter and INR19,667.8m in the same period a year earlier. Profit after tax in the December 2022 quarter came in at INR965.7m, down from INR1248.4m in the previous quarter and a significant fall from the INR1673.4m recorded in the December 2021 ...
Heidelberg Materials acquires SER Group
Heidelberg Materials has acquired SER Group, a leading integrated company in the demolition and construction materials recycling business, based in Heilbronn, southern Germany. With an annual revenue of around EUR50m and three modern recycling sites, SER Group is the market leader in the greater Heilbronn area and employs more than 220 people. The acquisition comes shortly after th...
RAK White Cement reports drop in profit
Ras Al Khaimah Co for White Cement and Construction Materials (RAK White Cement) posted net profits of AED21.08m (US$5.74m) in 2022, a 35.9 per cent decline from AED32.87m in 2021. Revenues of the UAE-based company increased by 3.3 per cent to AED247.66m in 2022 when compared with AED239.8m in the previous year. Earnings per share (EPS) fell from AED0.07 in 2021 to AED0.04 in 2022. ...
Star Cement reports 27% rise in 3Q net profit
India-based Star Cement saw its net profit increase by 27 per cent YoY to INR303m (US$3.67m) for the quarter ended 31 December 2022 (3QFY22-23). Net revenue advanced by 15.4 per cent to INR6234.9m in the October-December 2022 quarter when compared with INR5400.9m in the year-ago quarter. Operating expenses in 3Q22 were up by 10.8 per cent to INR5582.8m from INR5040.5m in the 3Q21. Opera...
Imerys sells Calderys
French refractory supplier Calderys has become an independent company encompassing the full scope of the high temperature solutions (HTS) business area formerly under Imerys. The new company is owned by US-based Platinum Equity (PE) following the successful completion of regulatory approvals and customary closing conditions. Calderys operates a global network of experts and 36 industrial sites...
West China Cement Ltd: new appointments
Dr Ma Weiping has resigned as executive director and chief executive officer of West China Cement Ltd , effective from 2 February 2023. According to the company, Dr Ma has chosen to leave “to devote more time to his other personal endeavours”. The board thanks Dr Ma for his valuable contributions to the company during his time at West China Cement Ltd. Effective immediately, Cao Jianshun ...
PCA add new Board member
Simon Bates, CEO of Argos USA, is the newest member of Portland Cement Association’s (PCA) Board of Directors. Simon took the reins at Argos USA late last year, bringing to the position 33 years of industry experience. He has said that his primary goal is to promote housing and infrastructure projects that allow for more sustainable, prosperous and inclusive societies in the US, which is a goa...
Dangote announces new 6Mta Nigerian plant
Dangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own capti...
ACC Ltd posts 14% rise in revenue
ACC Ltd has reported a 14 per cent increase in revenue to INR45,370m (US$554.7m) in the quarter ended 31 December 2022, up from INR42,260m in the same period a year earlier. EBITDA over the same timeframe fell from INR6100m to INR4190m, while the EBITDA margin declined from 14.7 to 9.4 per cent. Sales volumes over the three-month period stood at 7.7Mt of cement and clinker, on a par with ...
GCC reports 7% EBITDA increase in 2022
Grupo Cementos de Chihuahua (GCC) reported net sales of US$289.7m in the October-December 2022 period, representing an increase of 12.3 per cent when compared with the 4Q21, according to the company’s filing to the Mexican stock exchange, BMV. It also posted EBITDA of US$91.3m in 4Q22, up 12.7 per cent YoY. Net profit increased by 70.4 per cent to US$51.3m in the 4Q22 when compared with the...
Udaipur Cement Works reports revenue growth
India’s Udaipur Cement Works Ltd has announced unaudited revenue from operations of INR2381.7m (US$29.13m) in the quarter ended 31 December 2022. This compares to INR2200.5m in the previous quarter and INR2077.6m in the same period a year earlier. Net profit after tax in the quarter ended 31 December 2022 stood at INR32.2m, versus INR21.8m in the previous quarter and INR53.9m in the same ...
Orient Cement sees revenue improve
India-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier. Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m ...
WCA appoints new directors
The World Cement Association (WCA) has appointed three new Directors: Fabien Charbonnel, CEO of Cem’In’Eu , Xu Gang, chairman of the Board of Maweni Limestone, VP and head of Overseas Area of Huaxin Cement Co Ltd , parent company of Maweni Limestone , and Kevin Lunney, COO of Mannok Holdings DAC. The appointments were agreed in a unanimous vote at the WCA General Assembly Meeting, which t...
Coolbrook appoints SVP of Communications
Technology and engineering company Coolbrook Oy has announced the appointment of Jenni Schumacher to the position of SVP of Communications. Ms Schumacher has most recently led external communications at international renewable fuels company Neste and prior to that held communications roles at global stainless steel producer Outokumpu and Microsoft. At Coolbrook Ms Schumacher’s experienc...
Lucky Cement increases profit by 23% in 1HFY21-22
Pakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21...