Cement News tagged under: Weekly Newsletter
Russian cement producers warn of escalating costs22 November 2023, Published under Cement NewsLeading cement producers in Russia have warned domestic regulators of a 17-30 per cent rise in production costs next year, caused by continually increasing costs related to logistics, energy and personnel. The result will inevitably lead to a rise in cement prices over the coming several months, they caution. Representatives of Soyuzcement, the national cement manufacturing union, have already sent a letter to Russia's Ministry of Economy and Ministry of Industry and Trade, informing the ... |
CEMEX Espana to consider next step after EUR456 tax fine22 November 2023, Published under Cement NewsCEMEX has announced that its subsidiary, CEMEX España, will pay approximately EUR456m in fines as a result of a tax audit in Spain that commenced in July 2011 and covered the years 2006-09. According to a company press release, the tax authorities questioned some of the tax losses that Cemex España reported during those years. These losses were not used by Cemex España and have not been shown in its financial statements since 2012. CEMEX evaluating next steps According to the compa... |
PPC reports 21% advance in revenue in 1HFY2421 November 2023, Published under Cement NewsPPC has posted revenue of ZAR6172m (US$335.2m) in the 1HFY24 (ended 30 September 2023), up 20.9 per cent YoY. EBITDA advanced from ZAR728m in the 1HFY23 to ZAR1069m in the same period a year later, while the EBITDA margin advanced three percentage points to 17.3 per cent. Capex over the six-month period came in at ZAR220m. Operating profit improved from ZAR273m to ZAR675m. In the 1HFY24, the South Africa and Botswana business contributed 57 per cent of group revenue (1HFY23: 68 per cent... |
Shortlist of candidates for CIMA sale21 November 2023, Published under Cement NewsSeven companies have been identified as potential purchasers of Cement Industries of Malaysia Bhd (CIMA), part of the UEM Group Bhd. According to The Edge Malaysia, of the seven shortlisted candidates, at least three are believed to be foreign - one from Germany, another from the Philippines and one from China. One source reportedly confirmed that none of the candidates are CIMA competitors, so the transaction should not result in any anti-competition issues. In August 2023, UEM Group ... |
Hillhead 202416 November 2023, Published under Cement NewsHillhead 2024 takes place between 25-27 June at Hillhead Quarry, Buxton, UK. Hillhead is the biggest quarry machinery exhibition of its kind and celebrates its 40th anniversary this year. Set in the stunning and unique surroundings of a real Derbyshire limestone quarry, the show continues to expand and set new records, with 600 exhibitors attending this year. Approximately 20,000 industry professionals are exoected to visit the event. For more information, visit: Hillhead 2024 |
Holcim exits Uganda and Tanzania15 November 2023, Published under Cement NewsHolcim has signed agreements to divest its businesses in Uganda and Tanzania. It has agreed to sell Hima Cement Ltd , its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120m. Holcim has also agreed to sell its 65 per cent share in Mbeya Cement Co Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances. Martin Kriegner, regional head Asia, Middle East and A... |
JK Lakshmi Cement prepares for calcined clay cement production15 November 2023, Published under Cement NewsJK Lakshmi Cement Ltd is poised to become the first cement company in India and across Asia to start commercial production of Portland calcined clay limestone Cement (IS 18189:2023) or LC3. This is a milestone achievement since most of the cement will be supplied to Noida International Airport (NIA). This will reduce the carbon footprint of the airport project which is in collaboration with Zurich Airport International AG with their EPC as TATA Projects Ltd. This initiative aims to combine... |
Sephaku Holdings' profit eroded by rising costs14 November 2023, Published under Cement NewsSephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL. According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost... |
Ghana shuts three cement companies14 November 2023, Published under Cement NewsThe Ghana Standards Authority has shut down three cement companies due to their use of inferior materials, reports the Daily Graphic. The three cement producers in question are Xin An Safe Cement Ghana Ltd , Kumasi Cement Ghana Ltd, and Uniceme Cement Ghana Ltd. The move is reportedly part of a wider crackdown by the GSA on substandard cement production in Ghana. Along with the closure of cement plants, the GSA also intends to prohibit the construction of new cement factories, pending a ... |
Brazil's cement market contracts 2% in October13 November 2023, Published under Cement NewsCement sales in Brazil declined by 2.1 per cent to 5.257Mt in October 2023 when compared with October 2022, when sales reached 5.368Mt, according to the Brazilian cement association, SNIC. The southeast, the largest market, saw sales contract by 2.9 per cent YoY to 2.382Mt in October 2023 from 2.453Mt in the year-ago period while in the northeast sales slipped by 0.9 per cent YoY to 1.092Mt from 1.102Mt. Sales in the south fell by 3.7 per cent YoY to 0.851Mt in October 2023 from 0.88Mt. Th... |