Cement News tagged under: Weekly Newsletter
Fecto Cement reports 37% revenue growth10 October 2022, Published under Cement NewsFecto Cement ’s net sales revenue in the 2022 financial year came in at PKR6775m (US$30.8m), compared to PKR4961m in the previous year, marking a YoY increase of 36.56 per cent. Over the same period, net local sales revenue advanced to PKR6602m, versus PKR4653m, representing YoY growth of 41.89 per cent, against an increase in gross sales revenue of 33.5 per cent and local sales volume growth of 1.44 per cent. According to the company, this growth was achieved through improved retention ... |
Eagle Cement majority stake to San Miguel05 October 2022, Published under Cement NewsSan Miguel Corp (SMC) is to acquire an 88.5 per cent stake in Eagle Cement Corp , reports GMA News. SMC said its boards of directors authorised the management of the corporation to “negotiate and enter into a share purchase agreement with the selling shareholders.” The selling shareholders of Eagle Cement include Ramon Ang, John Paul Ang, Monica Ang, and Far East Holdings Inc (FEHI), the latter of which is majority owned by Ramon Ang. The approved acquisition price is reportedly PHP22.0... |
Votorantim adopts new logo and rebrands05 October 2022, Published under Cement NewsVotorantim Cimentos is introducing its new corporate brand that aims to be more contemporary and representative of the diversity of its people, products and businesses, combining tradition, innovation and a vision of the future. The rebranding project reflects the company's global strategic objectives and sustainability commitments The new visual identity seeks to connect the company's strategic objectives and sustainability commitments with the process of transformation... |
Cemtech industry conference: Cembureau warns that EU ETS costs risk carbon leakage04 October 2022, Published under Cement NewsThe European cement industry is facing increased costs imposed by the EU Emissions Trading System (ETS), which is creating a competitive disadvantage with countries outside of the region. Isidoro Miranda, president of CEMBUREAU, warns of increasing production costs due to the EU ETS during his presentation at Cemtech Europe “Today the EU industry is paying EUR8/t more to produce cement than countries outside of the ETS”, said Isidoro Miranda, president of Cembureau, the ... |
Italy's cement output contracts 13% in July04 October 2022, Published under Cement NewsCement production in Italy fell by 13 per cent YoY in July 2021, according to the country’s construction chamber, Federbeton. When compared with the 2015 base index production the value increased from 94 in June 2022 to 100 in July. The price index (2015 = 100) recovered from 184 in June to 190 in July, but when compared with July 2021, prices saw a 53 per cent increase. Grey cement imports into Italy advanced by 10 per cent YoY to 148,116t in June 2022. In terms of CIF value, imports sto... |
India Cements in talks to sell Madhya Pradesh project04 October 2022, Published under Cement NewsIndia Cements is reportedly in talks with a number of companies over the sale of its project in Madhya Pradesh. India Cements had planned to set up a 3Mta integrated cement plant on the site but is now looking to sell the site to reduce its long-term debt, reports The Hindu. The project with its limestone mine is valued at around INR8000m (US$97.8m). Among the companies vying for the project are UltraTech Cement , JSW Cement , Birla Group and Adani Group . May 2022 saw India Ceme... |
Colombian grey cement market expands 8% in August03 October 2022, Published under Cement NewsGrey cement consumption in Colombia grew by 8.4 per cent YoY in August 2022 to 1.19Mt from 1.098Mt, according to the country’s statistics office, DANE. Of this total, bulk shipments were up 12.2 per cent while bagged cement saw a 6.6 per cent increase. Ready-mix concrete companies increased their off-take by 20.9 per cent while sales by the retail segment were up 6.8 per cent YoY in August 2022. Sales to construction companies and contractors slipped by 0.4 per cent YoY in the same month. ... |
Adani Group announces US$100bn investment plan29 September 2022, Published under Cement NewsThe Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd , instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint. "As a group, we will invest over US$100bn of capital in the nex... |
PT Semen Indonesia reports 2% drop in 1H revenues29 September 2022, Published under Cement NewsPT Semen Indonesia saw a 2.1 per cent slip in total revenues to IDR15.876trn in the 1H22 when compared with the year-ago period. The company attributed the decrease mainly to lower sales volumes, which were down by 12 per cent YoY to 16.957Mt. Domestic sales volumes were down 2.6 per cent YoY to 13.972Mt as demand contracted due to the Lebaran holidays after a two-year gap during the pandemic and a shift in spending priorities by local people. Regional sales volumes fell by 39.2 per cent... |
Norway's EA approves full-scale CCUS plant at Brevik29 September 2022, Published under Cement NewsNorwegian environmental agency, Miljødirektoratet, has approved Norcem ’s plan for a full-scale CO 2 capture plant at the company’s Brevik plant. The environment agency has amended the pollution permit for Norcem Brevik in Porsgrunn municipality, based on an application and consultation process. The new permit enables the Heidelberg Materials -owned company to reduce its CO 2 emissions by 400,000t, or approximately 50 per cent, according to the agency’s Director, Ellen Hambro. In a... |