Cement News tagged under: Corporate
InterCement signs exclusivity agreement with CSN03 May 2024, Published under Cement NewsFollowing its market announcement of 23 February 2024, InterCement Participações SA announced that in the context of the competitive process, organised by Banco BTG Pactual, it has carried an agreement on 1 May 2024 to provide for exclusivity until 12 July 2024 to Companhia Siderúrgica Nacional (CSN) in terms of the potential acquisition of a 100 per cent stake in InterCement's stock. However, no document has been signed that generates any binding obligation or commitment on the part of... |
Heidelberg Materials acquires Malaysia's largest pulverised fly ash supplier03 May 2024, Published under Cement NewsHeidelberg Materials has entered into a definitive purchase agreement to acquire ACE Group,the largest supplier of pulverised fly ash in Malaysia, effective 1 May 2024. The acquisition strengthens circularity within Heidelberg Materials’ value chain in Southeast Asia, according to the company. Reusing fly ash from energy generation contributes significantly to reducing the CO2 intensity of composite cement while used as an additive, fly ash can replace part of the energy-intensive clinker ... |
Wietersdorf invests in renewable power in Slovenia03 May 2024, Published under Cement NewsAustria-based Wietersdorfer Group will be participating with Austrian experts in the energy sector to achieve its goal in producing carbon-neutral cement by 2035. Through AAE Gamit, a specialist in renewable energy projects, Wietersdorfer Group will implement wind and solar power projects in Primorska region, Slovenia. Together with Energie AG Oberösterreich and the ÖKOENERGIE Group from Wolkersdorf, the Carinthian Wietersdorfer Group will make a significant contribution to the implement... |
Orient Cement posts INR682 4Q net profit03 May 2024, Published under Cement NewsCK Birla Group subsidiary Orient Cement Ltd reported a 1.4 per cent uptick in revenue from operations to INR8.88bn in January-March 2024 when compared with the equivalent quarter of the previous year, when revenue reached INR8.76bn. Total expenses rose marginally to INR7.855bn. The company's net profit edged up by 1.2 per cent YoY to INR681.9m in the 4QFY23-24 from INR673.7m in the year-ago period. For the financial year ended 31 March 2024, Orient Cement's profit increased 42.4 per c... |
APC elects Saïd Elhadi as new president03 May 2024, Published under Cement NewsMorocco's cement association, APC, has elected Saïd Elhadi as its new president, it said in a press statement. Mr Elhadi, president of LafargeHolcim Maroc , will take over from Khalid Cheddadi. The association thanked Mr Cheddadi for his service and dedication. APC members operate a total of 14 integrated cement plants and seven grinding units with a total capacity of over 24.5Mta. |
BUA Cement CFO Jacques Piekarski resigns03 May 2024, Published under Cement NewsBUA Cement 's Chief Finance Officer and Executive Director, Jacques Piekarski, has resigned. Mr Piekarski held the post since 2 October 2020 following a position as Group CFO for TGI Group Nigeria. Chikezie Ajaero has been appointed as acting CFO. |
Ambuja Cements announces record results02 May 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has reported record-breaking financial results for the 4QFY23-24 as well as the full year, ended 31 March 2024. According to the company, the strong performance has been driven by improved KPIs in all operational parameters. The 4QFY23-24 saw consolidated sales volumes of cement and clinker of 16.6Mt, compared to 14.1Mt in the same period a year earlier. Consolidated revenue came in at INR88,940m (US$1.065bn), versus INR79,660m in the comparab... |
Phinma to invest in PHP2bn Davao plant02 May 2024, Published under Cement NewsPhilippines-based Phinma Corp plans to invest approximately PHP2bn (US$34.7m) in a new cement plant in Davao to further consolidate its presence in the cement market. "We’re putting up our Davao plant which is almost similar to Mariveles plant. That is in joint venture with some of our partners in Davao,” Philcement Corp President and CEO, Eduardo Sahagun, said. “That will bring our total capacity to somewhere like 5Mta if all those things will be completed in a couple of years,” he added.... |
BUA Cement reports revenue growth in 1Q2402 May 2024, Published under Cement NewsNigeria-based BUA Cement has released its unaudited financial statements for the three months ended 31 March 2024. The company has posted revenue of NGN161,131m (US$114.4m) over the three-month period, compared to NGN106,352m in the same period a year earlier. Operating profit came in at NGN33,476m, down from NGN38,387m in the year-ago period, while profit after tax fell from NGN26,800m in the three months ended 31 March 2023 to NGN17,969m in the same period in 2024. Basic earnings per ... |
CEMEX upgraded by Fitch Ratings02 May 2024, Published under Cement NewsCEMEX has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings’ upgrade announced in March 2024. “Achieving investment grade is a milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our... |