Cement News tagged under: Weekly Newsletter
YTL Corp net profit rises 9% in 3QFY2131 May 2021, Published under Cement NewsYTL Corp Bhd recorded a nine per cent increase in its net profit to MYR93.5m (US$22.6m) for the third financial quarter ended 31 March 2021 (3QFY21), up from MYR85.4m in the preceding quarter. Revenue fell eight per cent QoQ to MYR4.22bn, from MYR 4.59bn in 2QFY21. "We have continued to see good recovery, particularly in our key utilities division which has registered a marked turnaround in the merchant multi-utilities subsegment in Singapore, as well as our cement and construc... |
Bestway Cement to set up greenfield cement plant in Punjab27 May 2021, Published under Cement NewsBestway Cement Ltd has informed the Pakistan Stock Exchange on 27 May that it is setting up a greenfield cement plant with a clinker capacity of 7200tpd, near Paikhel, Mianwali, Punjab province. Company Secretary, Sehar Husain, added that the plant would have a 9MW waste heat recovery plant built by Sinoma International Engineering Co Ltd of China. In addition, all necessary regulatory approvals and financial arrangements have been secured. However, no time frame of completion wa... |
Anjani Portland to acquire controlling stake in Bhavya Cements27 May 2021, Published under Cement NewsIndia’s Anjani Portland Cement has entered into a share purchase agreement for the acquisition of a controlling stake in Bhavya Cements, at a price of INR51.53/share (US$0.7/share). The objective of the deal is to improve the market presence of the company through the addition of a new brand, according to Anjani Portland. Bhavya currently operates around 1.4Mta of cement capacity and has annual revenues in the region of INR3bn. |
Dugongo Cement plant inaugurated27 May 2021, Published under Cement NewsMozambican President Filipe Nyusi inaugurated the 2Mta Dugongo Cement plant, in the southernmost district of Matutuine, on Wednesday. The US$330m investment by the Chinese West International Holding sees the creation of a greenfield plant on 400,000ha, including a quarry and residential complex for some of the 300 permanent staff. Dugongo Cement has its own charcoal-fired 36MW power station. Water is taken from the Maputo River basin and treated to serve the plant. Pre... |
Cienfuegos restarts production27 May 2021, Published under Cement NewsThe Carlos Marx cement plant in Cienfuegos, Cuba, has recommenced production after being paralysed since 14 January due to a lack of petcoke. A new cargo of petcoke was reportedly unloaded at Cienfuegos port, according to Sierra Maestra new service. To address the fuel shortage, Cienfuegos had introduced the use of tyres and waste oils, but the alternative fuels are unable to meet the entire fuel demand of the plant. To continue supplying cement to Cuba’s construction programme, Cienfue... |
Shree Cement records 22% revenue increase26 May 2021, Published under Cement NewsIndia’s Shree Cement has posted a 22.2 per cent YoY increase in standalone revenue from operations to INR39.31bn (US$540.6m) in the quarter ending 31 March 2021, against INR32.18bn in the year-ago period. Net profit advanced 30.5 per cent YoY to INR7.68bn from INR5.88bn. In the full-year period, revenue from operations climbed 5.7 per cent to INR125.88bn from INR119bn in the FY19-20. Net profit surged 40.8 per cent YoY to INR23.12bn. |
Heracles reports static turnover of EUR188.5m in 202026 May 2021, Published under Cement NewsHeracles Group of Companies ’ (LafargeHolcim group) turnover in Greece remained almost unchanged in 2020 compared to 2019 when the company first returned to profitability after 10 years . It reached EUR188.5m in 2020 compared to EUR188.8m in 2019. The company’s EBITDA increased by 36 per cent to EUR35.5m in 2020 compared to EUR26.1m in 2019 and net earnings increased by 109 per cent to EUR9.6m in 2020 compared to EUR4.6 m in 2019. Investments in tangible and intangibl... |
Complaint filed against Lehigh Cement's proposed acquisition of Keystone Cement24 May 2021, Published under Cement NewsThe Federal Trade Commission is seeking to block Lehigh Cement Co LLC’s US$151m acquisition of rival Pennsylvania-based cement producer Keystone Cement Co (Element Group), alleging the deal would harm regional competition in the market. Lehigh (HeidelbergCement group) owns multiple competing factories that sell cement in Keystone markets, including two cement plants located within 40 miles of Keystone’s plant in Bath, Pennsylvania. The Commission filed an administrative complaint and aut... |
Votorantim Cimentos reports BRL22m net profits in 1Q2120 May 2021, Published under Cement NewsVotorantim Cimentos ended the 1Q21 with net profit of BRL227m (US$42.8m), reversing the BRL380m loss posted in the 1Q20. The company's global net revenue in the first quarter of the year was BRL4bn, an advance of 46 per cent in comparison to the same period in 2020, as a result of an increase in sales volume in all regions where it operates, combined with the positive impact of the devaluation of the real against foreign currencies in its international operations. The compan... |
Polish cement association calls for protective measures20 May 2021, Published under Cement Newshe Polish cement association has called upon the government to support protective measures such as the border protection mechanism (CBAM) to enable the cement industry to meet the challenges presented by new climate regulations and the market environment. In a letter to the Polish prime minister, the organisation says: “However, we are concerned that the lack of protective measures - such as the Border Protection Mechanism (CBAM) currently being processed by the European Commission - may re... |