Cement News tagged under: Weekly Newsletter
UltraTech reports net sales of US$1.64bn20 October 2022, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has announced consolidated net sales of INR135,960m (US$1.64bn) for the quarter ended 30 September 2022, versus INR117,430m in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR11,030m and profit after tax was INR7560m, compared to INR19,470m and INR13,140m in the year-ago period, respectively. Energy costs increased 58 per cent and raw material costs rose 18 per cent YoY. UltraTech achieved cap... |
Lafarge Cement fined US$778m for ISIS payments19 October 2022, Published under Cement NewsLafarge Cement has agreed to plead guilty and pay a fine of US$777.8m for payments it made to terror organisation ISIS to keep operating a cement plant in Syria. The payments to ISIS, which reportedly totalled US$10.23m, were made from August 2013 to October 2014 and took place while the terrorist group was kidnapping and killing westerners, reports CNBC. According to the United States Department of Justice, "The gains to all participants in the conspiracy, including LCS [Lafarge Cement S... |
Yamama Cement sees 49% jump in revenue in 3Q2219 October 2022, Published under Cement NewsSaudi Arabia's Yamama Cement has reported a 23.6 per cent advance in revenue to SAR684.2m (US$182.5m) in the first nine months of 2022. This compares to SAR553.5m in the same period a year ago, according to Argaam. Operating income over the same period advanced by 12.9 per cent from SAR178.02m to SAR200.95m, while net profit after Zakat and tax was up 29 per cent from SAR172.5m to SAR221.7m. The improvement in profit is being attributed to higher sales volumes and an increase in other r... |
HeidelbergCement India sees 88% slump in profit18 October 2022, Published under Cement NewsHeidelbergCement India Ltd has reported a 12.2 per cent YoY decline in revenue in the quarter ended 30 September 2022. Revenue for the three-month period came in at INR5060m (US$61.5m), compared to INR5765m in the same quarter a year earlier. EBITDA over the same period fell 59.2 per cent from INR1165m to INR476m, while profit after tax slumped 88.2 per cent from INR596m to just INR70m. According to the company, the decline in profitability is due to a significant increase in fuel costs... |
Brazil's cement market contracts in September17 October 2022, Published under Cement NewsBrazilian total cement sales declined by 3.8 per cent YoY to 5.5Mt, according to the country’s cement association, SNIC. Per working day, sales fell by 3.5 per cent YoY to 238,000t. Within Brazil sales reached 5.483Mt, down 3.5 per cent YoY, in September 2022. The country’s second-largest market, the northeast, saw the largest fall with sales down six per cent to 1.098Mt in September 2022 from 1.168Mt in September 2021. The southeast and southern markets contracted by 3.9 per cent to 2.522M... |
JSW Cement announces 5Mta of new capacity12 October 2022, Published under Cement NewsJust hours after acquiring a 100 per cent stake in Springway Mining from India Cements , JSW Cement has announced plans to invest over INR32,000m (US$388.8m) in an integrated greenfield plant in Madhya Pradesh and a split grinding unit in Uttar Pradesh. According to The Hindu Business Line, the combined cement production capacity of the two units will be 5Mta. The plant in Madhya Pradesh will have a 2.5Mta clinker capacity, 2.5Mta grinding capacity, and a 15MW waste heat recovery syste... |
Dangote in crisis talks over violence at Obajana plant12 October 2022, Published under Cement NewsAliko Dangote, president of the Dangote Group , has met with state governors to try and resolve the crisis at the cement producer’s Obajana plant. In attendance at the meeting was Yahaya Bello, governor of Kogi State, Abdullahi Sule, governor of Nasarawa State, and Ibrahim Gambari, chief of staff to the President of Nigeria. The meeting follows violence at the plant after the Kogi State Government attempted to seal the plant over concerns relating to tax evasion and legal ownership of ... |
Bharathi Cement launches new terminal and new product11 October 2022, Published under Cement NewsBharathi Cement , part of Vicat , has inaugurated its new 0.75Mta bulk cement terminal in Coimbatore, in the South Indian state of Tamil Nadu. The new terminal in a fully automated packing and distribution facility, operated by just 16 employees, reports APN News. With dedicated own container wagons and a 24hr loading facility, it is the first terminal in India to have end-to-end logistic automation for the transportation of bulk cement in containers, directly serving customers without any... |
Giant Cement plans Savannah Terminal with Georgia Kaolin Terminals, Inc11 October 2022, Published under Cement NewsGiant Cement Company has signed an agreement with Georgia Kaolin Terminals, Inc, in Savannah, GA, USA, to build a 60,000t cement import terminal on the Savannah River for the growing southeastern US market. “Cement demand in the southeast continues to show strong growth in all sectors,” says Tim Kuebler, president & CEO of Giant’s Elementia USA. “Population growth has spurred new infrastructure projects, expanding need for housing and commercial projects.” The investment provides... |
Adani Group to invest US$848m in Rajasthan cement10 October 2022, Published under Cement NewsIndia’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped natural gas (PNG) and compressed natural gas (CNG), reports Reuters. Just a few weeks ago, Gautam ... |