Cement News tagged under: Corporate
INSEE Cement extends biodiversity MoU with IUCN08 November 2022, Published under Cement NewsSri Lanka’s largest cement producer, INSEE Cement , has entered into a Memorandum of Understanding (MoU) with the International Union for Conservation of Nature and Natural Resources (IUCN), according to The Colombo Post. The agreement will extend their long-standing partnership to continue INSEE’s biodiversity projects for a further three years, from 2022 to 2025. The MoU was signed by Nandana Ekanayake, chairman and CEO of INSEE Cement, and Anshuman Saikia, coordinator of regional portfo... |
The India Cements Ltd sees 8% advance in revenue08 November 2022, Published under Cement NewsThe India Cements Ltd has reported consolidated revenue from operations of INR13,270m (US$161.5m) in the quarter ended 30 September 2022, compared to INR12,340m in the same period a year earlier, an increase of 7.5 per cent YoY. Profit over the same period fell from a gain of INR320m to a loss of INR1210m, reports Dow Jones Newswires. Basic earnings per share came in at -INR3.62 versus INR0.87 in the quarter ended 30 September 2021. Power and fuel costs over the same timeframe jumped from ... |
Carbon Re raises GBP4.2m seed funding to address cement industry carbon emissions08 November 2022, Published under Cement NewsCarbon Re, the Cambridge University and UCL joint spin-out, will accelerate the roll-out of artificial intelligence (AI)-based industrial decarbonisation technology. The company has raised GBP4.2m (US$4.8m) seed funding to scale up the development and deployment of its Delta Zero AI platform, which enables the cement industry to reduce over 50,000tpa of CO 2 emissions per plant. This is the equivalent of taking 11,000 cars off the road. Carbon Re's cloud-based Delta Zero platform models... |
Adbri CFO resigns08 November 2022, Published under Cement NewsTheresa Mlikota has resigned as chief financial officer of Adbri . Ms Mlikota, who has been with the company since 2019, will remain in the role until 11 November 2022. “On behalf of the board, I would like to thank Theresa for her service and the contribution she has made during her time at Adbri. We wish her the very best for the future,” said Raymond Barro, chairman of Adbri. Peter Barker has been appointed as Interim CFO. Mr Barker is a senior finance executive with more than 30 years... |
Cecon starts trials at new Concepcion plant07 November 2022, Published under Cement NewsCartes Group-owned Cementos Concepción (Cecon) began trials at its new cement plant in Concepción, Paraguay. It is expected that the trial period will last 2-3 months before actual cement production starts, according to Jorge Méndez, Cecon’s manager. Mr Méndez described the event as "a historic day for the production of 100 per cent Paraguayan cement". "It is a historic day for the Department of Concepción and the country because we are starting to commission the equipment and to produce... |
Summit Materials net revenue rises to US$686m in 3Q2207 November 2022, Published under Cement NewsSummit Materials ' reported net revenue rose by US$23.8m to US$686m in the 3Q22, up 3.6 per cent on the 3Q21. Adjusted EBITDA declined US$5.4m to US$184.9m over the same period, reflecting the impact of divestitures and inflationary cost of revenue conditions. The company saw 3Q22 cement net revenues of US$119.9m, an increase of 29.6 per cent compared to 3Q21. Sales volumes of cement rose by 12.4 per cent in the 3Q22 driven by compounding price actions taken in 2022 and a focus on va... |
Lucky Cement's green energy uses will increase in FY2307 November 2022, Published under Cement NewsAKD Research has termed Lucky Cement Pakistan’s largest cement conglomerate. The year 2023 will be a new milestone year for Lucky Cement with its expanded capacity and adherence to ESG compliance . The company will continue to dominate the market share. With the completion of the 3.15Mta expansion at its Pezu plant in December 2022, the company's total cement capacity would increase from 12.15Mta to 15Mta, resulting in its market share to increase from 14.8 per cent to 17.3 per cen... |
Adani Enterprises posts three-fold rise in revenue07 November 2022, Published under Cement NewsAdani Enterprises Ltd has posted a three-fold rise in revenue in the second quarter of FY22-23. Revenue for the three-month period came in at INR387,150m (US$4694m), compared to INR132,180m in the 2QFY21-22. EBITDA over the same timeframe advanced by 69 per cent to INR21,360m, while profit after tax improved by 117 per cent to INR4610m, reports The Times of India. Led by Asia’s richest person, Gautam Adani, the company has made inroads into the infrastructure and cement manufacturing se... |
Fuel and power costs hit profits at JK Lakshmi Cement07 November 2022, Published under Cement NewsIndia-based JK Lakshmi Cement Ltd has reported consolidated revenue from operations of INR13,735m (US$166.9m) in the quarter ended 30 September 2022. This compares to INR16,541m in the previous quarter and INR12,088m in the same quarter a year earlier. EBITDA in the September 2022 quarter came in at INR1835m, versus INR2637m in the previous quarter and INR2116m in the same quarter in 2021. Net profit after tax fell from INR872m in the quarter ended 30 September 2021 to INR617.9m in the ... |
Heidelberg Materials grows revenue 13% in 9M2204 November 2022, Published under Cement NewsHeidelberg Materials ’ revenue in the first 9M22 rose significantly by 12.9 per cent in comparison with the previous year to EUR15,802m (9M21: EUR13,996m). Excluding consolidation and exchange rate effects, the rise amounted to 12.3 per cent. In particular, price increases in all group areas contributed to the revenue growth. Changes to the scope of consolidation of EUR622m had a negative effect on revenue, while exchange rate effects of EUR624m had a positive impact. The result from... |