Cement News tagged under: Weekly Newsletter
Votorantim Cimentos reports net revenue of BRL7bn in the 2Q2414 August 2024, Published under Cement NewsVotorantim Cimentos ended the 2Q24 with a higher net revenue from increased volumes, supported by geographic and product diversification. The company recorded global net revenue of BRL7bn (US$1.27bn) in the 2Q24, a one per cent increase compared to the same period last year, excluding the effect of exchange rate variation. This result is mainly due to the positive performance of operations in Europe, Asia, Africa and Brazil. In the 2Q24 the company’s global cement sales totalled 9.6Mt, a t... |
New 10Mta Nigerian plant set for 2025 start-up13 August 2024, Published under Cement NewsNigeria-based Residence Cement Co plans to establish a cement factory in the Gwana district of Alkaleri Local Government Area of the state in the first quarter of next year. Gwana State Governor, Bala Abdulkadir Mohammed, disclosed that Residence Cement Factory has resolved to invest US$1.5bn in establishing the Gwana cement factory, which would commence in the first quarter 2025. Initial reports in the Society Herald in July 2024 reported that the plant would have a cement capacity of 10Mt... |
Cementir acquires additional 25.4% stake in Sinai White Portland Cement13 August 2024, Published under Cement NewsCementir Holding NV announced that its fully-owned subsidiary Aalborg Portland Holding A/S has acquired an additional 25.4 per cent stake in Sinai White Portland Cement Co SAE (SWCC) from Sinai Cement Co, part of the Vicat Group . Following the EUR30m transaction, Cementir will indirectly hold 96.5 per cent of SWCC’s share capital. The investment strengthens Cementir’s strategic presence in Egypt’s white cement business. Located in the Sinai Peninsula, SWCC’s plant with a white ce... |
West International Holdings Ltd begins construction of Buikwe cement plant13 August 2024, Published under Cement NewsThe construction of a new UGX730m (US$196,180.8m) cement factory has begun on a 50-acre (20.2ha) plot in the Buikwe district of Uganda. Chinese-owned West International Holdings Ltd will invest UGX730m in Kavule Cell, Buzika ‘B’ Ward, Njeru Municipality, after a similar investment in the Karamoja sub-region, according to Group Director, Ambrose Byona, on 10 August. Mr Byona explained that the reason for establishing the unit in the Moroto District, which is expected to be commissioned ... |
Qassim Cement posts 58% rise in 1H net profit12 August 2024, Published under Cement NewsSaudi Arabia-based Qassim Cement Co posted revenue of SAR203.3m for the quarter ended 30 June 2024, representing a 48.2 per cent increase from SAR137.2m in the year-ago period. The growth was mainly attributed to an uptick in sales volumes and higher selling prices. Operating profit surged 164.3 per cent YoY to SAR74.7m. Net profit for the April-June 2024 quarter advanced by 91.3 per cent YoY to SAR72.9m from SAR38.1m. However, net profit was tempered by an increase in cost of sales as w... |
Ukraine's reconstruction efforts boosts cement production12 August 2024, Published under Cement NewsUkraine 's cement association, Ukrcement, reported that the country has increased its cement production by 25 per cent in response to growing reconstruction needs. Data for the January-June 2024 period shows that members of Ukrcement boosted their production by 24.4 per cent compared to the same period in 2023 (a total of 3.7Mt). The association highlighted the strength of its member enterprises, continuing to adapt and produce construction materials despite the ongoing difficulties of the ... |
Taiheiyo Cement's 1Q net profit jumps to JPY13.53bn08 August 2024, Published under Cement NewsJapan-based Taiheiyo Cement Corp reported a 7.9 per cent increase in revenues to JPY208.85bn (US$1.43bn) in the quarter ending 30 June (1QFY24-25) from JPY193.54bn in the year-ago period. The company's operating profit improved 5.9-fold to JPY11.05bn in the 1QFY24-25 from JPY1.86bn in the 1QFY23-24. Pretax profit increased four-fold YoY to JPY11.76bn from JPY2.98bn in the equivalent period of the previous year. Net profit surged from JPY366m in the 1QFY23-24 to JPY13.53bn in the 1QFY24-... |
Lafarge BFC Serbia to invest in eco-friendly cement plant07 August 2024, Published under Cement NewsLafarge BFC ( Serbia ), part of the Holcim Group , plans to open an eco-friendly cement plant in Obrenovac. The EUR110m (US$120.3m) plant will produce cement from the ashes of nearby thermal power plants. The Obrenovac project is part of Lafarge BFC Serbia's pledge to achieve zero CO 2 emissions by 2050. It will help to address Serbia's waste management issues, including the country’s extensive network of unsanitary landfills and illegal dumpsites. In 2019 the European Environmenta... |
Cemtech MEA 202506 August 2024, Published under Cement NewsCemtech MEA 2025: Decarbonisation as a catalyst for growth Date: 09-12 February 2025 Location: Sofitel Dubai The Obelisk, UAE As the global cement sector continues to transform at pace, Cemtech MEA 2025 offers all cement industry stakeholders a vibrant forum in which to explore the key trends facing cement producers. From market dynamics and trends in global cement and clinker trade to cement manufacturing technology and operational efficiency, this conference will ensure delegat... |
Buzzi SpA reports net profit fall of 2% in 1H2406 August 2024, Published under Cement NewsBuzzi SpA has reported a 4.5 per cent drop in net sales to EUR2054m in the 1H24 when compared with net sales of EUR2150m in the 1H23. Cement and clinker sales fell by eight per cent to 12.017Mt from 13.057Mt in the 1H23. Ready-mix concrete sales decreased by 8.8 per cent to 4.664Mm 3 from 5.116Mm 3 in the 1H23. The company's consolidated EBITDA reached EUR553m, down 3.9 per cent on the 1H23 result. Recurring EBITDA declined 4.1 per cent YoY to EUR548m from EUR572m in the 1H23. Consol... |