Cement News tagged under: corporate
Star Cement reports 27% rise in 3Q net profit06 February 2023, Published under Cement NewsIndia-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. Operating profit surged by 81 per cent to INR652.2m in the 3Q22 when compared with INR360.3m reported in ... |
Imerys sells Calderys03 February 2023, Published under Cement NewsFrench 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 in 16 countries. Michel Cornelissen has been instrumental in positioning Calderys as a global le... |
West China Cement Ltd: new appointments03 February 2023, Published under Cement NewsDr 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 has been appointed executive director and chief executive officer. Mr Cao has extensive experience i... |
PCA add new Board member03 February 2023, Published under Cement NewsSimon 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 goal that falls squarely in line with PCA’s objectives. Meanwhile, Ruben Guerrer, Jr, has been ... |
Dangote announces new 6Mta Nigerian plant02 February 2023, Published under Cement NewsDangote 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 captive power plant, and two 6000tpd clinker production lines giving a total daily clinker production cap... |
ACC Ltd posts 14% rise in revenue02 February 2023, Published under Cement NewsACC 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 the same quarter in 2021, while sales volumes of ready-mixed concrete advanced marginally from 0.73M... |
GCC reports 7% EBITDA increase in 202201 February 2023, Published under Cement NewsGrupo 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 4Q21. The cement producer attributed the increase to a rise in cement and concrete prices of 16.2... |
Udaipur Cement Works reports revenue growth01 February 2023, Published under Cement NewsIndia’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 period in 2021. Power and fuel costs advanced from INR549.2m in the quarter ended 31 December 2021 t... |
Orient Cement sees revenue improve01 February 2023, Published under Cement NewsIndia-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 in the same period in 2021. Power and fuel costs advanced from INR1399.1m in the quarter ended 31 De... |
WCA appoints new directors01 February 2023, Published under Cement NewsThe 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 took place virtually this month. In addition, both Mohammed Ali Al-Garni, CEO of Saudi Cement, a... |