Cement News tagged under: Weekly Newsletter
Adani Group rebuilds investor confidence27 June 2023, Published under Cement NewsThe Adani Group, which owns Ambuja Cements and ACC Ltd , is reportedly targeting 20 per cent YoY growth in pretax profits to INR900,000m (US$10,971m) within the next 2-3 years. According to Live Mint, the growth is expected to come from various sectors, including cement, airports, energy, logistics and power. The group has recently repaid loans amounting to US$2.65bn as part of a prepayment programme to reduce overall leverage and regain investor confidence following a negative report by ... |
Afrimat acquires Lafarge South Africa Holdings22 June 2023, Published under Cement NewsLafarge South Africa Holdings (LSA) is being acquired by South Africa-based mining and materials company, Afrimat, The deal includes all the subsidiaries of the LSA Group, which will become part of Afrimat’s Construction Materials division. LSA Group, a member of the Holcim Group, currently supplies a range of products to the construction industry, including cement, concrete, aggregates and fly ash. The purchase price for the acquisition of the equity in the LSA Group is US$6m, with a... |
Buzzi Unicem sells Ukraine operations to CRH21 June 2023, Published under Cement NewsBuzzi , through its fully owned subsidiary Dyckerhoff GmbH , has reached an agreement to sell some of its businesses in Eastern Europe to CRH , a leading building materials solutions company, for a consideration of EUR0.1bn. The transactions include the business in Ukraine and ready-mix concrete assets in east Slovakia. Completion of the transaction in Ukraine is subject to the granting of the required regulatory approvals and is expected to occur in 2024. In Ukraine, Buzzi operates... |
US government invests US$135m in 40 carbon reduction projects20 June 2023, Published under Cement NewsThe US Department of Energy (DOE) has announced $135m in funding for 40 projects that will reduce carbon pollution from the industrial sector and move the nation toward a net-zero emissions economy by 2050. Decarbonising the US industrial sector is seen as an essential component of President Biden’s ambitious clean energy goals. "America’s industrial sector serves as the engine of the US economy, producing many of the products we rely on every day, but also produces a significant amoun... |
Bamburi Cement to consider expansion despite macroeconomy19 June 2023, Published under Cement NewsBamburi Cement PLC ( Holcim group ) held its 72nd Annual General Meeting in Nairobi on 15 June, chaired by the Board and Management, which included Chairman Dr John Simba, Group Managing Director Mohit Kapoor, and Group Chief Financial Officer Eugene Antera. According to Mr Kapoor, "Kenya's macroeconomic situation is challenging due to inflation, currency devaluation, an uncertain tax environment, and restricted liquidity. “High power costs continue to be an issue and as a ... |
New plant adds 2Mta to Cambodia capacity19 June 2023, Published under Cement NewsA new 2Mta cement plant in the Oral district of Kampong Speu province in Cambodia is due to start production soon. According to the Khmer Times, Conch KT Cement has invested around US$263m in the new facility, which will take the total number of cement plants in the country to six. The reopening of the economy following the pandemic has resulted in a boost in exports, construction and the real estate sector in Cambodia. The new plant is intended to help meeting growing demand in Cam... |
Cembureau elects new president and vice president19 June 2023, Published under Cement NewsThe European cement association, CEMBUREAU, has elected Ken McKnight, member of the CRH Executive Committee, as president, and Jon Morrish, CEO western and southern Europe, Heidelberg Cement, as vice-president. At its General Assembly in Prague, CEMBUREAU elected its new president and VP, entrusting them with the leadership and strategic direction of the organisation for the next two years. CEMBUREAU also expressed profound appreciation for the dedication and work of the outgoing presiden... |
Heidelberg Materials opens revamped Mitchell plant15 June 2023, Published under Cement NewsHeidelberg Materials celebrated the opening of its new cement plant in Mitchell, Indiana, USA on 13 June 2023. The state-of-the-art facility will be the second-largest cement plant in North America with a cement capacity of 2.4Mta, and one of the most technologically advanced and sustainable ever built. Heidelberg Materials' management joined customers, partners, as well as federal, state, and local officials to cut the ribbon. “Our Mitchell project instills pride in our rich history... |
Lafarge Africa appoints new CEO15 June 2023, Published under Cement NewsMr Lolu Alade-Akinyemi has been appointed group managing director/chief executive officer (GMD/CEO) of Lafarge Africa (part of Holcim ) with effect from 1 July 2023. Prior to this appointment, Mr Alade-Akinyemi was the company’s CFO and the supply chain director. He was appointed an executive director to the board on 8 April 2020. He has over 20 years of cross-functional experience in finance, supply chain, business development, and sales. According to the company, Mr Alade-Akinyemi i... |
JK Lakshmi to ramp up capacity to 30Mta by 203014 June 2023, Published under Cement NewsJK Lakshmi Cement has announced plans to invest INR80,000m (US$972m) over a six-year period to increase its cement production capacity to 30Mta. According to Business Line, the investment will be made between 2024 and 2030 to raise capacity primarily through expansions and acquisitions. The company has already begun to acquire land for greenfield opportunities at Nagaur (Rajasthan) in north India and Kutch (Gujarat) in west India. It is also currently expanding capacity at its subsidi... |