Cement News tagged under: Weekly Newsletter
Ambuja lays foundation stone at new Bihar grinding facility06 August 2024, Published under Cement NewsAmbuja Cement Ltd , part of Adani Cements , has announced a cement grinding unit in Bihar, investing INR16bn (US$190.8m). Bihar Chief Minister, Nitish Kumar, laid the foundation stone for the facility at Warsaliganj in the Nawada district on 4 August 2024. The unit, Ambuja Cement’s first project in Bihar, will have a full capacity of 6Mta and be completed in three phases on 27,4781.6m 2 (67.9 acres) of allotted land. The first phase, costing INR11bn, targets operation by December 2025, ad... |
Eastern Province Cement sees 20% rise in 1H net profit06 August 2024, Published under Cement NewsSaudi cement producer Eastern Province Cement Co posted a sales revenue of SAR585m (US$156m) in the first six months of 2024, representing a 29.1 per cent increase from SAR453m in the 6M23. The advance has been attributed to higher cement and precast sales volumes and values. In addition, reduced losses from share results of an associated company, lower other expenses, enhanced gains from investments at fair value through profit or loss and decreased zakat expense supported the higher reve... |
Cooperativa la Cruz Azul starts construction on a new cement plant05 August 2024, Published under Cement NewsMexico-based Cooperativa la Cruz Azul has presented plans for the construction of a new industrial unit to manufacture cement in the municipality of Seybaplaya, southwest of the capital of Campeche. The company is hoping to reduce its environmental impact by building the cement plant on land previously used to manufacture lime and cement. The plant will be equipped with new technology to meet high standards of sustainability. Construction began on 1 August 2024, with the first stage ex... |
JK Lakshmi Cement to merge three subsidiaries02 August 2024, Published under Cement NewsJK Lakshmi Cement's board has approved the merger of three of the company's subsidiaries: Udaipur Cement Works (UCWL), Hansdeep Industries and Trading Co, and Hiddrive Developers and Industries. The appointed date for the merger is set for 1 April 2024. The Scheme of Arrangement is expected to become effective in the 2H24. Key details of the merger include the merger of Udaipur Cement Works, where shareholders of UCWL will receive four shares of JK Lakshmi Cement for every 100 shares held i... |
Titan Group reports 1H net profit up 34%01 August 2024, Published under Cement NewsIn the 1H24 Titan Group achieved consolidated sales growth of 7.6 per cent, reaching EUR1323m, with all regions supporting top-line growth and overall volumes increasing, leading to the delivery of another strong performance. Cement pricing was firmly upheld, exhibiting low regional variances, while selective price increases were performed in aggregates and ready-mix concrete. EBITDA for the period reached EUR281.4m, increased by 16.7 per cent YoY, despite unabated cost pressures in factors... |
Spanish cement industry contracted in 1H2431 July 2024, Published under Cement NewsCement consumption in Spain shrank 4.2 per cent YoY in June, coming in at 1.254Mt, down from 1.309Mt in June 2023, according to the latest data from Infocemento. Exports were down 157,882t or 27.1 per cent YoY in June, falling to 424,708t. January-June 2024 In the first half of 2024 cement consumption was down 3.3 per cent YoY to 7.268Mt, when compared with 7.513Mt in the same period a year earlier. Exports fell by 601,914t or 20.2 per cent YoY in the January to June period, coming in... |
Vicat's 1H24 growth driven by US31 July 2024, Published under Cement NewsThe Vicat Group has reported consolidated sales of EUR1937m in the first half of 2024, up from EUR1912m in the same period a year earlier. Over the same time frame, EBITDA advanced from EUR314m to EUR353m, while consolidated net income improved from EUR109m to EUR115m. According to the company, the growth has been primarily driven by market dynamics in the USA. Over the 1H24, the company saw a one per cent uptick in cement volumes to 14.1Mt with trends varying across the markets. A slow... |
Cementir post decline in 1H revenue but improves net profit30 July 2024, Published under Cement NewsCementir ’s consolidated revenue slipped by 3.4 per cent YoY to EUR811.8m in the first half of 2024 from EUR840.7m in the 1H23. Non-GAAP consolidated revenue declined by 7.5 per cent YoY to EUR803.3m from EUR868.2m over the same period. The company saw higher sales volumes across its product range. Volumes of grey, white cement and clinker edged up by 0.3 per cent YoY to 5.127Mt, supported by higher sales in Turkey, the USA and Malaysia. Meanwhile, ready-mixed concrete volumes picked up by... |
UltraTech acquires additional stake in India Cements29 July 2024, Published under Cement NewsUltraTech Cement is acquiring a 32.72 per cent share in India Cements , marking an investment of INR39,540m (US$472.2m). According to The Hindu, the move enables Aditya Birla -owned UltraTech to expand its presence in the fast-growing southern India market, particularly Tamil Nadu. UltraTech has reportedly entered into a share purchase agreement for a 28.42 per cent stake from promoters – N Srinivasan, Chitra Srinivasan, Rupa Gurunath and S K Asokh Baalaje — and a 4.3 per cent share ... |
Holcim's 1H24 profit growth driven by Solutions & Products26 July 2024, Published under Cement NewsHolcim has announced record profitable growth in the first half of 2024. Net sales for the six-month period came in at CHF12,813m (US$14,516m), down 1.9 per cent YoY from CHF13,067m in the same period a year earlier but up 1.6 per cent in local currency terms. Recurring EBIT over the same time frame advanced 12.7 per cent in local currency from CHF2043m to CHF2210m, with the recurring EBIT margin coming in at 17.2 per cent in the 1H24 compared to 15.6 per cent in the 1H23. Operating profit... |