Cement News tagged under: Corporate
TPI Polene reports weak operating conditions in 1Q2427 May 2024, Published under Cement NewsThe Bank of Thailand’s statistics on domestic cement sales show a negative trend since the pandemic, falling by 3.1 per cent in 2022 and 1.5 per cent in 2023. In addition, since November 2023 the trend has worsened and by March 2024 domestic cement sales had contracted 14.5 per cent YoY bringing the 1Q24 contraction to 10.6 per cent. The key reason for the major deterioration in demand is the delay in the approval/deployment of the FY23-24 budget affecting public sector works and creatin... |
Taiwan Cement to operate as TCC Group Holdings27 May 2024, Published under Cement NewsTaiwan Cement Corporation (TCC) held its shareholders' meeting on 21 May 2024 officially announcing the transformation of the 78-year-old company into a group holding company, shifting its English name from Taiwan Cement Corporation to TCC Group Holdings. This marks a significant leap into 11 industries, spreading its presence across 13 international markets. TCC's Chairman, Nelson Chang, highlighted that 60 years ago, TCC operated as a cement-only supplier. TCC has now advanced to becom... |
Yong Concrete PCL announces two new plants in Rayong24 May 2024, Published under Cement NewsThailand-based Yong Concrete PCL has announced plans to build two new facilities in the country. Themove comes in response to rising demand in the Eastern Economic Corridor (ECC), and is aimed at offsetting market slowdown and government budget delays. Sunpetch Slisatakorn, CEO, said that one of the planned facilities will produce ready-mix concrete in the Nong Bua sub-district in Rayong’s Ban Khai district. An investment of THB10m (US$273,726) will be needed to commission the plant... |
Beton Provincial acquires CRH Canada assets23 May 2024, Published under Cement NewsBéton Provincial has concluded its deal with CRH Canada Group Inc , acquiring assets in Quebec, Newfoundland and Labrador as well as the state of New York. As a result, Béton Provincial now operates one of the largest distribution networks in eastern North America. The company now owns Ash Grove Cement's Joliette cement plant, six cement terminals (three in Newfoundland and Labrador, two in Greater Montreal and one in Solvay, New York), nine ready-mix concrete plants (including seven in... |
CEMEX develops Generative AI tool23 May 2024, Published under Cement NewsCEMEX has developed the first generative artificial intelligence (AI) tool of its kind in the building material industry, transforming how its salesforce interacts with clients by providing real-time support for a superior customer experience. The tool is an advanced knowledge assistant using Microsoft’s artificial intelligence and trained with CEMEX’s product information and expertise in construction regulations. Built on a robust data management system, it offers tailored so... |
Ambuja Cements commissions unloader at Karanja Port to speed up deliveries23 May 2024, Published under Cement NewsAmbuja Cements has commissioned a bulk cement vessel unloader at Karanja Port, India. According to BusinessLine, the investment has been made to enable the company to easy transport cement from its Sanghipuram plant to Mumbai. It forms part of Ambuja’s ongoing efforts to optimise operational efficiency, reduce logistics challenges, and provide its customers with a seamless supply chain. By reducing the lead time to delivery, Ambuja hopes to help meet cement demand in Mumbai, which is ... |
Dewan Cement's profitability dented due to high power costs in 9MFY23-2423 May 2024, Published under Cement NewsDewan Cement recently submitted its 9MFY23-24 report with the unaudited financial results for nine-month period that ended 31 March 2024 to the Pakistan Stock Exchange (PSX) for shareholders’ information. During this period, the company posted a loss of PKR601m (US$2.16m) against a loss of PKR758m, despite an increase of 12.9 per cent in sales during the new month’s period. The report adds that overall development activity and price hikes favourably impact sales revenue. However, the ... |
Heidelberg Materials UK acquires B&A Group22 May 2024, Published under Cement NewsHeidelberg Materials UK has acquired B&A Group, one of the leading construction soil and aggregate recycling companies in southwest England. The Bristol-based company employs a team of 70, and specialises in the supply of recycled and primary aggregate as well as site clearance, earthworks, land remediation and sustainable land regeneration. It had its most successful year to date in 2023, turning over in excess of GBP50m (US$63.7m) and making a posting pretax profit of GBP9.1m. Accordi... |
Eagle Materials posts record results22 May 2024, Published under Cement NewsEagle Materials has reported record revenue of US$2.3bn in the FY23-24, ended 31 March 2024, marking a five per cent advance YoY. Net earnings over the year improved by three per cent to reach a record US$477.6m, while adjusted EBITDA was up seven per cent YoY to US$834.5m. In the 4QFY23-24, revenue advanced to US$476.7m, up one per cent on the same period a year earlier. Net earnings over the three-month period fell 23 per cent to US$77.1m, while adjusted EBITDA contracted 10 per cent... |
PHINMA Corp to acquire Petra Cement for PHP500m22 May 2024, Published under Cement NewsPhilippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under its legacy brand, Union Cement," PHINMA Corp. said. The acquisition follows the manufacturing and s... |