Cement News tagged under: corporate
CEMEX develops Generative AI tool23 May 2024, Published under Cement NewsCEMEX has developed the first generative artificial intelligence (AI) tool of its kind in the building material industry, transforming how its salesforce interacts with clients by providing real-time support for a superior customer experience. The tool is an advanced knowledge assistant using Microsoft’s artificial intelligence and trained with CEMEX’s product information and expertise in construction regulations. Built on a robust data management system, it offers tailored so... |
Ambuja Cements commissions unloader at Karanja Port to speed up deliveries23 May 2024, Published under Cement NewsAmbuja Cements has commissioned a bulk cement vessel unloader at Karanja Port, India. According to BusinessLine, the investment has been made to enable the company to easy transport cement from its Sanghipuram plant to Mumbai. It forms part of Ambuja’s ongoing efforts to optimise operational efficiency, reduce logistics challenges, and provide its customers with a seamless supply chain. By reducing the lead time to delivery, Ambuja hopes to help meet cement demand in Mumbai, which is ... |
Dewan Cement's profitability dented due to high power costs in 9MFY23-2423 May 2024, Published under Cement NewsDewan Cement recently submitted its 9MFY23-24 report with the unaudited financial results for nine-month period that ended 31 March 2024 to the Pakistan Stock Exchange (PSX) for shareholders’ information. During this period, the company posted a loss of PKR601m (US$2.16m) against a loss of PKR758m, despite an increase of 12.9 per cent in sales during the new month’s period. The report adds that overall development activity and price hikes favourably impact sales revenue. However, the ... |
Heidelberg Materials UK acquires B&A Group22 May 2024, Published under Cement NewsHeidelberg Materials UK has acquired B&A Group, one of the leading construction soil and aggregate recycling companies in southwest England. The Bristol-based company employs a team of 70, and specialises in the supply of recycled and primary aggregate as well as site clearance, earthworks, land remediation and sustainable land regeneration. It had its most successful year to date in 2023, turning over in excess of GBP50m (US$63.7m) and making a posting pretax profit of GBP9.1m. Accordi... |
Eagle Materials posts record results22 May 2024, Published under Cement NewsEagle Materials has reported record revenue of US$2.3bn in the FY23-24, ended 31 March 2024, marking a five per cent advance YoY. Net earnings over the year improved by three per cent to reach a record US$477.6m, while adjusted EBITDA was up seven per cent YoY to US$834.5m. In the 4QFY23-24, revenue advanced to US$476.7m, up one per cent on the same period a year earlier. Net earnings over the three-month period fell 23 per cent to US$77.1m, while adjusted EBITDA contracted 10 per cent... |
PHINMA Corp to acquire Petra Cement for PHP500m22 May 2024, Published under Cement NewsPhilippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under its legacy brand, Union Cement," PHINMA Corp. said. The acquisition follows the manufacturing and s... |
JSW Cement invests US$360m in new plant21 May 2024, Published under Cement NewsJSW Cement is planning to build a new cement plant in Rajasthan, giving the company access to India’s northern markets. The proposed facility will have a cement capacity of up to 3.3Mta and an 18MW power plant, according to Mint. The INR30,000m (US$360m) investment is being funded through a mix of equity and long-term debt. “The proposed investment to establish our integrated cement facility in Nagaur puts JSW Cement firmly on its path to achieving a pan-India footprint within the next... |
Eagle Materials expands Laramie plant21 May 2024, Published under Cement NewsEagle Materials has announced plans to modernise and expand its cement plant in Laramie, Wyoming, USA, and related distribution facilities, to serve the growing northern Colorado area, Nebraska, Utah and Wyoming. The upgraded plant and additional distribution facility in northern Colorado will feature state-of-the-art technology, designed to maximise operational efficiency and further strengthen Eagle’s low-cost producer position, according to the company. The expansion will increase t... |
Pakistan's cement export trend continues to excel in 10MFY23-2421 May 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 35.9 per cent in the 10MFY23-24 (July 2023-April 2024) to US$204.54m (5.301Mt), compared to US$150.48m (3.24Mt) in the 10MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 593 per cent to PKR58.21bn during the period, sustained by the local currency’s competitive rates against the US dollar. In addition, export volumes increased by 63.5 per cent YoY in the same period.... |
Buzzi to increase stake in Cement Nacional to 100%20 May 2024, Published under Cement NewsItaly-based Buzzi SpA said it will increase its stake in Brazilian cement producer Cimento Nacional (NCPAR) to 100 per cent from the current 50 per cent as its joint venture partner, Grupo Ricardo Brennand , exercises its put option, according to a statement by the company. The price will be determined based on existing agreements and may also vary depending on the exchange rate of the real. The total investment is currently estimated EUR290-310m (US$315m-337m) and will be funded with ... |