Cement News tagged under: corporate
Holcim to invest over US$2bn in CCUS31 March 2023, Published under Cement NewsHolcim plans to invest CHF2bn (US$2.187bn) by 2030 in carbon capture, utilisation and storage (CCUS) technologies to capture more than 5Mt of CO 2 each year. According to its second climate report, the company aims to reach 420kg of CO 2 per tonne of cementitious materials by 2030. Jan Jenisch, CEO of Holcim, said, “Holcim is accelerating its climate action with upgraded net zero targets and a clear commitment to invest CHF2bn in CCUS technologies by 2030. We are committed to scalin... |
Ciments du Maroc posts 25% drop in net profit in 202231 March 2023, Published under Cement NewsMorocco-based Ciments du Maroc , part of Heidelberg Materials , has reported a turnover of MAD4.043bn (US$395.4m) in 2022, representing a decrease of 2.1 per cent YoY from MAD4.128bn. The construction sector in Morocco was impacted by a significant slowdown in 2022, which worsened in the second half of the year, due to the global geopolitical context and draught affecting the country’s agricultural sector. Operating profit reached MAD1.327bn in 2022, down 18.1 per cent YoY from MAD1.62bn... |
Bestway Cement opens 2.3Mta Mianwali plant31 March 2023, Published under Cement NewsPakistan’s Bestway Cement has begun operations at its greenfield plant in District Mianwali. The plant is Bestway's eighth production line with a cement production capacity of 2.3Mta. The state-of-the-art and environmentally friendly works has its own 9MW waste heat recovery plant and 20MW solar power plant, enabling it to meet over 50 per cent of its energy requirements through green and renewable sources. Bestway is also a leader in water conservation, installing an air cooled conden... |
Buzzi Unicem Group net sales rise 16% in 202230 March 2023, Published under Cement NewsBuzzi Unicem 's group net sales rose to EUR3996m, up 16 per cent from EUR3446m in 2021. However, cement sales of 28.33Mt in 2022 marked a decline of 9.2 per cent from the 31.2Mt recorded in 2021. Ready-mix sales for the group also slipped to 11.51Mm 3 , down 5.2 per cent from 12.14Mm 3 achieved in 2021. Group EBITDA totalled EUR892m in 2022, up 11.2 per cent from the EUR795m achieved in 2021. Consolidated net profit fell 15.4 per cent to EUR459m in 2022, down from EUR542m in 2021. ... |
BBMG Corp posts 17% fall in revenue in 202230 March 2023, Published under Cement NewsChina’s BBMG Corp has posted a 16.8 per cent YoY decline in revenue in 2022 to CNY102,822.2m (US$14,938m). Net profit over the same period fell 66.6 per cent to CNY1739.9m, while basic earnings per share contracted from CNY0.27 to CNY0.11. Sales of cement in 2022 came in at 78Mt, while clinker sales reached 8.9Mt, giving a combined annual sales volume of 86.9Mt, marking a 12.8 per cent YoY decline. According to the National Bureau of Statistics of China, national cement output in 2022 was... |
JK Cement boosts capacity by 2Mta30 March 2023, Published under Cement NewsIndia's JK Cement has increased its cement production capacity by 2Mta. Its integrated Mangrol plant has expanded its capacity by 0.5Mta from 3.25Mta to 3.75Mta, while its integrated Muddapur works has increased its capacity from 3Mta to 3.5Mta. Its grinding unit at Jharli has seen its capacity advance from 1.5Mta to 2Mta, and the company’s Aligarh grinding plant has added 0.5Mta, taking its capacity from 1.5Mta to 2Mta. These expansions form part of a proposed 5.5Mta expansion p... |
Southern Province Cement makes progress on new 10,000tpd line29 March 2023, Published under Cement NewsSaudi-based Southern Province Cement Company (SPCC) has reportedly completed its study into the construction of a new 10,000tpd production line at its Jazan plant, and work was now underway to draft and review the EPC contract. According to Zawya, the new line will replace the existing line at the plant, with the cement producer saying in December 2022 that it hoped to sign the contract for the new line in the opening quarter of 2023. SPCC currently runs three plants in Bisha , Ja... |
Holcim Argentina acquires 51% stake in Quitam SA29 March 2023, Published under Cement NewsHolcim Argentina has acquired a 51 per cent stake in paints and liquid membranes producer Quitam SA. According to Holcim, the move is “aligned with the Holcim Group strategy focused on expanding its portfolio with products and services that provide comprehensive solutions for construction.” The deal includes a paint and coatings factory with an installed production capacity of 40m litres per year. Holcim plans to supply Quitam’s products to the market through its existing retail network... |
Cemex releases "Shaping the Future Together" report29 March 2023, Published under Cement NewsCemex has released its 2022 Integrated Report, detailing the company's operational, climate action and other achievements throughout the year. The report, titled "Shaping the Future Together", provides an in-depth analysis of Cemex's strategic vision, corporate governance, value creation, and operational performance. Among the company's ‘Future in Action’ achievements were a record nine per cent reduction in specific carbon emissions over the last two years, reaching a 30 per cent cumul... |
Lucky Cement continues to lead the Pakistan market29 March 2023, Published under Cement NewsLucky Cement has become the 10th-largest producer in market capitalisation on the Pakistan Stock Exchange (PSX) and continues to lead the cement industry as the largest cement producer in the country. According to AKD Research, Lucky Cement commissioned its Pezu capacity expansion of 3.15Mta in late December 2022 in Khyber Pakhtunkhwa, with a total cement capacity of 15.3Mta, holding its mark as the largest cement producer of Pakistan. Lucky Cement has 10.3Mta of cement capacity in th... |