Cement News tagged under: Corporate
Ambuja Cements 'preferred bidder' for Odisha limestone block20 February 2023, Published under Cement NewsAmbuja 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 declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (... |
Hoffmann Green signs contract with property developer20 February 2023, Published under Cement NewsHoffmann 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 tertiary housing units. Active in Toulouse, Bordeaux and Bayonne, this contract will enable Belin Promo... |
NCLT approves Sagar Cements' acquisition of Andhra Cements17 February 2023, Published under Cement NewsThe 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 plans to raise a debt of INR6000m and equity of INR3220m. The acquisition gives Sagar Cements a 95 per... |
Vulcan Materials sees revenues advance in 2022 despite poor weather17 February 2023, Published under Cement NewsVulcan 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 the 4Q21 to US$375m in the same period a year later, while gross profit remained stable at US$350m in... |
UltraTech Cement Co commissions new capacity in Hirmi and Cuttack17 February 2023, Published under Cement NewsUltraTech 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 GmbH17 February 2023, Published under Cement NewsHolcim 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 acquisition, Holcim roofing systems will exceed US$4bn in net sales ahead of schedule, accoridng to t... |
Bedeschi opens Australian subsidiary17 February 2023, Published under Cement NewsBulk 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 CEO of the new subsidiary and is based in Perth. Over many decades, the Italian-based Bedeschi Group h... |
CCI gives green light to Dalmia acquisition of JAL16 February 2023, Published under Cement NewsThe 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 with 75Mta of capacity by FY27 and 110-130Mta by FY31.This latest transaction, once approved by all... |
LafargeHolcim Bangladesh appoints new CEO16 February 2023, Published under Cement NewsThe 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 commercial and financial track record spanning over a 22-years career in reputed multinational companies in ... |
Grasim Industries sees profit tumble QoQ15 February 2023, Published under Cement NewsGrasim 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 quarter ended 30 September 2022, before falling to INR2573.6m in the latest quarter ended 31 Decemb... |