Cement News tagged under: Corporate
Holcim Switzerland acquires Cand-Landi Group20 March 2024, Published under Cement NewsHolcim Switzerland has acquired the Cand-Landi Group. This transaction is the result of a successful partnership that the two companies have maintained for many years to better meet the needs of the French-speaking Swiss market. By combining their know-how, Holcim and Cand-Landi offer a comprehensive range of solutions in the areas of sustainable building, logistics and teh circular economy. With now more than 600 employees at around 30 production sites in French-speaking Switzerland, H... |
Boral rejects Seven Group offer20 March 2024, Published under Cement NewsBoral Ltd has rejected an offer from Seven Group Holdings (SGH) saying it is “not fair and not reasonable.” Independent expert firm Grant Samuel & Associates assessed the fair market value of Boral shares to be in the range of AUD6.50-7.13/share, concluding that the offer from SGH of AUD5.96-6.19/share was below this range. SGH currently holds a 72 per cent stake in Boral. The offer, which totalled AUD 1.9bn (US$1.25bn) was for the remaining shares in the company. Commenting on the of... |
CEMEX signs decarbonisation collaboration with White Summit Capital20 March 2024, Published under Cement NewsCEMEX has entered into a collaboration with specialised energy transition infrastructure investor and manager White Summit Capital to develop projects across its European operations that will contribute to CEMEX’s 2050 net-zero objectives. The envisaged partnership will focus on two key pillars of CEMEX’s Future in Action strategy: Decarbonising our Operations (for instance by reducing clinker factor, optimising fuel mix, increasing clean electricity, reducing transport emissions), and ... |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
Holcim Philippines and Megawide renew supply contract19 March 2024, Published under Cement NewsHolcim Philippines has renewed its supply agreement with infrastructure conglomerate Megawide Construction Corp. Under the terms of the agreement, Holcim will supply the cement requirements of Megawide’s Precast and Construction Solutions (PCS) projects across the island of Luzon in 2024. This partnership is a continuation of a collaboration between Holcim and Megawide that began in 2016. “With our renewed supply agreement with Holcim Philippines Inc, Megawide has reinforced its linkag... |
Power Cement saw losses in 1HFY23-2419 March 2024, Published under Cement NewsPower Cement Ltd released its half-yearly financial report ending on 31 December 2023, wherein the company reported sales revenue at PKR16.84bn (US$60.23m), representing an increase of 33 per cent compared to the same period last year. The gross profit for the first half of FY23-24 surged to PKR3.95bn, indicating a growth of around 43 per cent compared to the first half of FY22-23. In the face of lower export prices, increased electricity prices and other challenges on the cost side, th... |
Riyadh Cement reports 8% uptick in sales19 March 2024, Published under Cement NewsSaudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago period. Annual earnings were affected by higher general and administrative expenses as well as zakat c... |
Hoffmann Green exceeds revenue target for 202319 March 2024, Published under Cement NewsHoffmann Green Cement Technologies has reported revenue of EUR6.04m in 2023, far exceeding its target of EUR4.5m, and marking a notable increase from EUR2.2m in the previous year. This is attributed to the increase in cement sales volumes and the signing of the company’s first international licensing contract in Saudi Arabia. EBITDA improved from -EUR6.6m in 2022 to -EUR5.2m the following year, while the company’s net loss increased from -EUR6.7m to -EUR7.9m over the same period. Sales... |
Southern Province Cement Co releases its 2023 financial results19 March 2024, Published under Cement NewsSouthern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent from SAR238m in 2022. The significant decrease in profits (after tax and zakat) led to Southern Pro... |