Cement News tagged under: Weekly Newsletter
Breedon reports positive 1Q trading update27 April 2023, Published under Cement NewsBreedon Group plc posted a positive trading update for the first quarter of 2023. It attributes the good result to its dynamic pricing strategy, which allowed the group to recover costs and offset expected volume softness. Revenue saw a 10 per cent advance YoY, or by seven per cent on a like-for-like basis (adjusted for the impact of acquisitions and disposals). Breedon’s CEO, Rob Wood, said ”Our performance in the first quarter demonstrates the resilience and flexibility of our team an... |
CRH reports 7% sales growth in 1Q2326 April 2023, Published under Cement NewsCRH has reported a “positive start” to the year with 1Q23 sales up seven per cent YoY across the group. Americas Materials Solutions saw a 10 per cent advance in sales in the 1Q23, compared to the same period in 2022, driven by robust pricing which more than offset the impact of unfavourable weather during the quarter. Essential Materials saw a 15 per cent improvement in sales YoY, while Road Solutions recorded a seven per cent uptick YoY, supported by strong price progression and good und... |
GCC reports 146% surge in 1Q net income26 April 2023, Published under Cement NewsGCC SAB de CV posted its first-quarter 2023 consolidated sales, which saw a 17.9 per cent YoY increase to US$243.9m. EBITDA in the 1Q23 advanced 15.5 per cent YoY to US$63m. The EBITDA margin of 25.8 per cent, slightly lower than the 26.4 per cent posted in the 1Q22. Net income saw a 146.4 per cent improvement YoY to US$32.4m in the 1Q23, up from US$13.1m in the 1Q22. Enrique Escalante, GCC's CEO, said: "GCC delivered solid results for the first quarter despite significant weather disrup... |
Spanish cement demand up 24% in March25 April 2023, Published under Cement NewsCement consumption in Spain increased 23.5 per cent YoY to 1.4Mt in March 2023, according to Oficemen. The significant market growth in the third month was attributed to the low base noted in March 2022 a transport strike impacted cement deliveries. In terms of external trade, exports increased 1.7 per cent YoY to 506,610t in March 2023 from 498,329t. Imports fell by 75.5 per cent YoY to 44,864t. January-March 2023 The latest monthly advance in cement consumption has resulted in total c... |
Fauji Cement Co to become Pakistan's third-largest cement producer25 April 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) heads to become the third-largest cement producer with a total cement production capacity of 10.5Mta in Pakistan, according to AKD Research. FCCL commissioned its Nimazpur capacity expansion of a 2.05Mta plant at Khyber Pakhtunkhwa in late October 2022. Moreover, another capacity expansion for FCCL of 2.05Mta at Dera Ghazi Khan is in the pipeline and is expected to be commissioned in 2QFY23-24. The research house has estimated that the current coal mix... |
Holcim reports 8% organic growth in 1Q2324 April 2023, Published under Cement NewsHolcim has reported organic sales growth of eight per cent to CHF5725m (US$6401m) in the first quarter of 2023. Over the same period, recurring EBIT came in at CHF493m, marking 12 per cent organic growth. “ This profitable growth was led by strong performances across our building materials businesses. Our teams continued our fast-paced execution, with 12 value-accretive acquisitions, including Duro-Last, completing our range of flat roofing systems. With strong underlying trends acros... |
Cem'In'EU launches FusioVrac cement21 April 2023, Published under Cement NewsCem'In'EU 's Rhône cement plant, in Portes-lès-Valence, has launched FusioVrac cement with a CO 2 footprint 18 per cent less than conventional cement. FusioVrac is a low-carbon cement that contains less clinker, which is partly replaced by pozzolan, a natural substitute from volcanic rocks in the nearby region. The new cement offers " the same performance, respecting the same standards as the other products currently on the market," indicates Fabien Charbonnel, general ... |
Fauji Cement reports 30% leap in profit in 9MFY22-2320 April 2023, Published under Cement NewsPakistan’s Fauji Cement Company has reported a 30.4 per cent YoY increase in profit in the nine months ended 31 March 2023 (9MFY22-23). Profit over the period came in at PKR6.97bn (US$24.67m), up from PKR5.35bn in the same period a year earlier. The increase is being attributed to higher gross margins and net finance income, according to Mettis Link News. Net revenue over the nine months came in at PKR51.9bn, up 35.2 per cent YoY, with better margins on the back of price hikes helping t... |
Savannah Cement Group sources funds for new clinker plant19 April 2023, Published under Cement NewsSavannah Clinker has received KES65bn (US$500m) to fund construction of a new clinker factory in Kenya. Savannah Clinker, an affiliate of Savannah Cement , said it raised the funds through a privately placed debt arrangement with the bond set to be listed at regulated international exchange. Savannah currently imports clinker as it does’t have a clinker plant. Savannah will build its clinker plant in Kitui County, as demand for cement surges due to a construction boom that has been boost... |
China Resources Cement welcomes new CEO19 April 2023, Published under Cement NewsChina Resources Cement Holdings Ltd has appointed Mr Jing Shiqing as its new chief executive officer (CEO), effective from 18 April 2023. Mr Jing is also an executive director and a member of the company’s Strategy & Investment Committee. He joined China Resources Group in July 2003 and served as deputy general manager of the human resources department from May 2018 to March 2021, as a non-executive director of the company from May 2018 to March 2021, and as a non-executive director of ... |