Cement News tagged under: Corporate
Holcim Philippines embrace drones and digitalisation for maintenance16 January 2023, Published under Cement NewsHolcim Philippines has started to harness advanced technology as part of its regular maintenance programme in plants and manufacturing sites. Drones inspect the La Union facility in Bacnotan, allowing the operator to take notes of maintenance actions to be taken. Using drones for regular and periodic maintenance has eliminated health and safety risks from having people conduct visual inspections in remote spaces. The drone also allows for higher frequency of checks and reduces equipment ... |
China Resources Cement issues profit warning for 202213 January 2023, Published under Cement NewsChina Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022. The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus... |
BBMG warns of 59% profit fall in 202213 January 2023, Published under Cement NewsChina-based cement producer BBMG Corp has announced that it expects to report a 52-59 per cent YoY decline in net profit attributable to shareholders in 2022. Net profit for the year is forecast come in at CNY1200m-CNY1400m (US$177m-207m). Net profit attributable to shareholders after deducting non-recurring profit and loss is predicted to be around CNY350m-550m, representing a YoY fall of 120-132 per cent. Over the same period the company recorded consolidated sales volumes of cement and... |
Emerson named ‘Industrial IoT Company of the Year’ for 5th time13 January 2023, Published under Cement NewsGlobal technology and software company Emerson has been named the IoT Breakthrough 2023 ‘Industrial IoT Company of the Year’ for the fifth time, following previous awards in 2018-20 and 2022. This year’s award recognises the power of Emerson’s industry-leading Plantweb™ digital ecosystem, which now includes the AspenTech suite of plant optimisation software solutions. Plantweb, including the AspenTech portfolio of asset optimisation software, enables companies to ‘See, Decide, Act a... |
Savannah Cement sells 60% stake to Barak Asset Recovery12 January 2023, Published under Cement NewsMauritius-based Barak Asset Recovery has been given the green light by regulators to acquire a 60 per cent stake in Savannah Cement from Seruji Ltd . With one plant in Athi River , Nairobi, Savannah Cement began operations in 2012 and quickly gained a 15 per cent share of the Kenyan cement market. However, in recent years its market share slipped to 10 per cent with two lenders, banks KCB and Absa, seeking to liquidate the firm’s assets after Savannah defaulted on loan payments, repor... |
Steppe Cement records 11% revenue growth in 202212 January 2023, Published under Cement NewsSteppe Cement Ltd recorded 11 per cent revenue growth in 2022 to KZT40m (US$86,560) from KZT36m a year earlier, citing positive market conditions as it focussed on the Kazakh domestic market. The average price for delivered cement in 2022, excluding value added tax, was KZT23,963/t, up 12 per cent from KZT21,332 a year earlier. Steppe Cement reported positive market conditions in the Kazakh domestic market where cement market consumption remained at around 11.6Mt last year. Steppe Ce... |
Adani Group investment to soar12 January 2023, Published under Cement NewsThe Adani Group will invest over INR600,000m (US$7.4m) in a number of sectors in Madhya Predesh that would create thousands of jobs. This would reshape the economy of several districts in the state, said Pranav Adani, director at Adani Enterprises, at the seventh Madhya Predesh Global Investors Summit. Currently, the group has investments of close to INR275,000m in sectors such as power generation and transmission, gas distribution, cement manufacturing and agro processing, among other... |
Sika reports record sales in excess of CHF10bn12 January 2023, Published under Cement NewsIn 2022 Sika reported sales in excess of CHF10bn (US$10.83bn) for the first time as the company saw sales growth of 15.8 per cent in local currencies compared to the previous year. Total sales came in at CHF10.49bn despite the increasingly difficult backdrop of rising raw material prices and a slowdown in construction sector growth in the second half of the year. In the EMEA region sales increased by 8.3 per cent YoY in local currencies in 2022, despite Sika’s distribution business ... |
Cement Industries (Sabah) raises cement prices11 January 2023, Published under Cement NewsCement Industries (Sabah) Sdn Bhd has increased the price of cement by 5-15 per cent effective from the 4 January 2023. The price hike was made after taking into consideration the rise of raw materials and freight shipping costs. Local media states that the price of cement in Sarawak and Peninsular Malaysia has increased dramatically in recent months. In Peninsular Malaysia, for example, the price of cement had risen 30 per cent last year, reports Borneo Post. Cement Industries (Sabah)... |
State Bank of Pakistan reviews cement industry performance in FY2210 January 2023, Published under Cement NewsThe State Bank of Pakistan (SBP) has critically analysed the performance of the cement industry between July 2021 and June 2022. The central bank gauged the positive and negative impacts on local and export dispatches, employment, quarrying of minerals and the reason behind on slow progress of the industry. The SBP concluded that "marginal growth in local dispatches and declining exports hurt the cement industry in FY21-22". The cement sector’s output declined by 3.6 per cent (48.011Mt) i... |