Cement News tagged: Corporate
Shangsi Cement starts up new aggregates line
Production has begun at the new aggregates line of China Resources Cement’s (CR Cement) subsidiary Shangsi Cement in Guangxi Province, China. The 5Mta project was officially completed on 19 November 2022 and marks an investment of CNY420m (US$58.7m). Construction began in February 2022 and was a collaboration between the cement company and CNBM Design and Research Institute. According to S...
InterCement posts 17% sales increase in 3Q22
InterCement has reported cement and clinker sales of 5.494Mt in the third quarter of 2022, up 1.2 per cent on the same quarter a year earlier (3Q21: 5.428Mt). Total sales over the 3Q22 advanced by 16.5 per cent YoY to US$492m, driven mainly by a solid volume performance in Argentina and healthy pricing across all locations. Total EBITDA improved by 2.7 per cent YoY from US$122m in the 3Q2...
Kohat Cement presses ahead with Punjab project
Kohat Cement Company (KOHC), based in northern Pakistan, has started developing the infrastructure for a greenfield production line in Khushab, Punjab province, the company said during a corporate briefing on its latest set of financial results. According to KOHC, land for the project has been acquired, while work on the development of infrastructure (such as utility connections, roads, etc...
Court halts production at Empire Cement
The Accra High Court in Ghana has put an injunction in place preventing Empire Cement from continuing cement production at its plant in McCarthy Hill or in any other location. According to the court, the injunction will remain in place until a lawsuit by the McCarthy Hill Residents Association is finalised. Justice Boampong announced the ruling after he upheld an interlocutory application...
Ecocem appoints european standards manager
Ecocem has appointed Christian Clergue as its new european standards manager. A sustainable concrete and cement expert, Mr Clergue brings with him 33 years of experience in cement and concrete materials, including low-carbon concrete, but in particular the regulations, standards and norms that govern the industry. He began his career at Vicat Group as deputy director of Sigma Béton, befor...
CRH sees sales advance 13% YoY in 9M22
In the opening nine months of 2022, CRH plc has seen its sales advance by 13 per cent YoY to US$24.4bn. Over the same period, EBITDA has improved by 14 per cent to US$4.2bn, while the EBITDA margin is up 10bps to 17.1 per cent. According to the company, the positive momentum experienced in the first half of the year continued into the third quarter, driven by resilient demand, strong pric...
RHI Magnesita acquires Dalmia Bharat Refractories Ltd
RHI Magnesita announces the acquisition of the Indian refractory business of Dalmia Bharat Refractories Ltd (DBRL) via a share swap agreement, in exchange for 27 million shares in RHI Magnesita India Ltd, a 70 per cent owned subsidiary of the group. DBRL is one of the leading refractory producers in India with approximately 1200 employees and production capacity of over 300,000tpa, from five...
Lehigh Hanson set to close Glens Falls plant
Lehigh Hanson 's Glens Falls cement plant, based in New York State, USA, is set to close next year with operations shifting to the newly-modernised Mitchell plant in Indiana, according to local news reports. “The decision to halt production at a plant is always difficult,” Alex Car, president of Lehigh Hanson’s Northeast Region, said in a statement published by the Glens Falls Chronicle....
Aramit Cement Ltd posts loss in 1QFY23
Aramit Cement Ltd of Bangladesh has announced its financial results for three months (July 2022 to September 2022) on 14 November 2022. It posted a net loss of BDT89.5m (US$0.879m) during these three months compared to a loss of BDT66.4m in the corresponding period last year, says Company Secretary Syed Kamruzzaman. The company’s net sales decreased by 83.15 per cent to BDT50.17m from...
Holcim to delist from Euronext Paris
Holcim Ltd has announced that it is delisting its shares from Euronext Paris to simplify its trading structure, effective from 30 December 2022. According to the company, the decision will focus the trading of Holcim shares in its primary market, the SIX Swiss Exchange (SIX), reflecting the shift in volumes away from Euronext Paris over the years. The simplification, which has been ap...
Polysius name and brand returns to Indonesia with new office
On 15 November 2022, PT thyssenkrupp Polysius Indonesia held its new office inauguration at Tempo Scan Tower, 28th floor, JI.H.R. Rasuna Said No. 3-4, Jakarta, Indonesia. The inauguration ceremony was conducted in the presence of Lukas Schoeneck, regional CEO of Business Unit Polysius in Asia Pacific, as well as Ridwan Setiawan, country manager in Indonesia, who will lead the new office. ...
Birla White wall care plant starts operations in Nathdwara
UltraTech Cement has commenced the third Birla White wall care putty plant at Nathdwara, Rajasthan, India with a capacity of 4Mta at a total cost of INR1870m (US$22.8m). The existing two plants are situated at Kharia in Rajasthan and Katni in Madhya Pradesh. The company now has a wall care putty capacity of 13Mta, further strengthening its position in the markets. Along with its ex...
Arabian Cement back in profit in 9M22
Egypt’s Arabian Cement Company has reported revenue of EGP3333.9m (US$135.9m) in the first nine months of 2022, up from EGP1568.1m in the same period a year earlier. Profit after tax in the 9M22 came in at EGP244.7m, compared to a loss of EGP24.5m in the first nine months of 2021. Earnings per share over the same period advanced from -EGP0.08 to EGP0.63. Domestic sales accounted for EGP2...
Holcim appoints new CFO
Holcim haș appointed a new chief financial officer (CFO). Steffen Kindler will join the company, replacing Geraldine Picaud who is leaving Holcim effective from 1 May 2023. Mr Kindler joins Holcim from Nestle where he most recently held the role of CFO for Nestle’s German market. His broad experience spans key business roles, including VP Finance and Control of Los Angeles-based Nestlé Be...
PPC posts 23% drop in EBITDA
PPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the...
Cherat Cement's Line 1 BMR project to complete in January
The balancing, modernisation and replacement (BMR) project of Cherat Cement Co for Line 1 will complete on January 2023. Cherat Cement has stated that works would be completed by January 2023 on the BMR for Cement Line 1 and installing the main crusher at Lakrai village, Nowshera district, Khyber Pakhtunkhwa (KPK) province, Pakistan, according to the latest company report for the period ending...