Cement News tagged under: Weekly Newsletter
Titan America to be listed in US equity market13 May 2024, Published under Cement NewsTitan Cement International has announced its intention to proceed with the IPO of its US business ( Titan America ), with the aim of raising funds that will facilitate the group’s and Titan America’s future growth. Titan America, a US$1.6bn sales business, is a leading and fully integrated player in the high-growth economic regions of the US East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey. According to the company... |
Cementir's 1Q24 regional market update13 May 2024, Published under Cement NewsCementir's results for the 1Q24 were overall in line with management's expectations despite the decline in revenues and EBITDA compared to the first quarter of the previous year. The company reported regional growth in Turkish cement sales and Belgian ready-mix sales. Turkey Cement sales volumes increased by 22 per cent compared to the 1Q23 in the domestic market, where the most significant growth was recorded in the Elazig and Kars regions of Eastern Anatolia, supported by post-earthq... |
CRH continues to invest in Ukraine08 May 2024, Published under Cement NewsCRH has invested a total of US$80m in Ukraine since the start of the Russia-Ukraine conflict, according to Guillaume Cavalier, president of CRH in Central and Eastern Europe. This brings the company’s investment in Ukraine over its 25-year history in the country to over US$500m, reports bne IntelliNews. “Investing in the expansion of production now is crucial to ensure the potential growth of the Ukrainian cement market following its integration into the EU,” Cavalier remarked, highli... |
Vulcan Materials posts fall in revenues in 1Q2408 May 2024, Published under Cement NewsUS-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came in at US$305m (1Q23: US$302m) while adjusted EBITDA stood at US$323m (1Q23: US$338m). Commenting on the results, Tom Hill, Vulcan Materials' chairman and CEO, said, "Our teams' solid execution helped us overcome challenging weather conditions throughout much of the first quarter. Margins expanded despite lowe... |
Heidelberg Materials sees revenue dip 8% YoY in 1Q2407 May 2024, Published under Cement NewsHeidelberg Materials has reported an eight per cent YoY decline in revenue to EUR4488m in the opening quarter of 2024. According to the company, the fall was the result of lower sales volumes due to poor weather conditions in key regions and a reduced number of working days in the quarter, although these factors were partially offset by positive price momentum in the individual core markets. The result from current operations before depreciation and amortisation (RCOBD) over the first quar... |
Birla Corp reports 127% jump in net profit07 May 2024, Published under Cement NewsBirla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growth in net profit in the March quarter, despite unusually weak market conditions. After steadily ramping up the Mukutban unit, the company’s cement division achieved a capacity utilisation rate of 97 per cent for the March quarter, marking yet another milestone. Consolidated net profit for the March quarter came i... |
Dyckerhoff plans major Deuna cement carbon capture installation06 May 2024, Published under Cement NewsDuring the visit of Thuringia's Prime Minister, Bodo Ramelow, at the Dyckerhoff 's Deuna cement plant on 2 May, Dyckerhoff's Managing Director, Patrick Klein, announced that Dyckerhoff is planning to invest around EUR350m in the construction of a carbon capture installation at its Deuna plant in Thuringia. "Once the investment is completed, the Dyckerhoff plant in Deuna will be one of the first plants in Germany to produce and sell Net-Zero cement," said Klein. "I am delighted that Deuna... |
EAPC recommissions Athi River plant06 May 2024, Published under Cement NewsEast African Portland Cement (EAPC) has recommissioned its Athi River plant in Kenya, boosting the company’s cement production capacity by 1Mta over the next two years, reports The Star. The plant has been closed for a month for renovations and maintenance. It also underwent the installation of a new kiln shell in 2022, resulting in a 38 per cent expansion in revenue. This latest closure and recommissioning forms part of EAPC’s plans to increase efficiency and production, enabling the co... |
InterCement signs exclusivity agreement with CSN03 May 2024, Published under Cement NewsFollowing its market announcement of 23 February 2024, InterCement Participações SA announced that in the context of the competitive process, organised by Banco BTG Pactual, it has carried an agreement on 1 May 2024 to provide for exclusivity until 12 July 2024 to Companhia Siderúrgica Nacional (CSN) in terms of the potential acquisition of a 100 per cent stake in InterCement's stock. However, no document has been signed that generates any binding obligation or commitment on the part of... |
Petcoke discount remains in cheap zone with good potential03 May 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal moved higher on the back of geopolitical tensions and was supported by oil and gas prices. Petcoke FOB picked up slightly from last month’s price but is trapped in the high US$60s. Discounts increased and petcoke increased from lows at US$62. On FOB and ARA bases, the petcoke discount remains in the cheap zone and offers good potential. The discount on ARA rose to cheap petcoke on increasing API2 and falling petcoke with freight USGC ARA ... |