Cement News tagged under: Corporate
Mir Cement to increase capacity by 202422 February 2023, Published under Cement NewsBangladesh’s Mir Cement has announced plans to raise its production capacity to 5000tpd by 2024. According to New Age Business, the company, which currently produces ordinary Portland cement and Portland pozzolana cement, has seen its capacity expand from 600tpd in 2003 to 2400tpd by 2018. As production has increased, the company has reportedly invested in dust guards to prevent dust being released into the atmosphere and has also opted not to use coal-based heating systems to reduce it... |
Eurocement becomes Cemros22 February 2023, Published under Cement NewsEurocement has changed its name to Cemros. The rebranding is aimed at renewing the company on a new stage of development since its acquisition by Smikom in 2021 for around US$2.2bn, following an auction held by Sberbank. An internal staff competition was held to find a new company name before a vote from a shortlist. Cemros invokes the words ‘cement’ and ‘Russia’ and was suggested by Eurocement employees, Evgeny Lukanovsky, Alexey Lotarev and Igor Efimov. |
Sika confirms record EBIT for 202221 February 2023, Published under Cement NewsSika has reported a record-high operating profit (EBIT) for 2022, coming in at CHF1579.7m (US$1709m), up 13.5 per cent YoY. The EBIT margin for 2022 stands at 15.1 per cent, compared to 15 per cent in the previous year. The company had already released its 2022 results in January this year, which saw sales exceed CHF10bn for the first time, but had predicted a record EBIT and an EBIT margin of 15 per cent, both of which have been now been confirmed. According to the company, at its AGM on ... |
Dalmia Cement reports 23% rise in revenue21 February 2023, Published under Cement NewsDalmia Cement (Bharat) Ltd has reported a 22.7 per cent YoY increase in revenue to INR33,550m (US$405.6m) in the 3QFY22-23 ended 31 December 2022. EBITDA over the same period advanced by 57.5 per cent to INR6440m, while cement volumes expanded by 11.5 per cent to reach 6.3Mt. In the 9MFY22-23, revenue improved by 21.8 per cent YoY to INR96,280m, while EBITDA declined 7.7 per cent to INR16,090m. Volumes over the nine-month period came in at 18.3Mt, up 17.1 per cent from the 15.6Mt report... |
Akçansa Çimento reports increase in revenue and profit21 February 2023, Published under Cement NewsTurkey’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 dispute21 February 2023, Published under Cement NewsAdani 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 equates to a 10-12 per cent cut in overall freight rates from that date. The two plants have been shut ... |
Calderys and HarbisonWalker International appoint joint CEO21 February 2023, Published under Cement NewsFollowing 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. “We have a tremendous opportunity to bring together the best of both companies to create a high-gr... |
Confidence Cement issues shares for two new projects20 February 2023, Published under Cement NewsBangladesh-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 share proceeds will be invested in two projects,” Imran Karim, vice chairman of Confidence Cement told T... |
Cemento Melón signs UN Global Compact20 February 2023, Published under Cement NewsCemento 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 join." “We are proud to be admitted to the Global Compact, after a process in which it is evaluate... |
Bestway Cement completes Punjab brownfield line20 February 2023, Published under Cement NewsGeneral 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 2023. A last-quarter report adds that the work on the company’s greenfield cement plant of 7200... |