Cement News tagged under: corporate
Dalmia Cement sells stake in Dalmia Bharat Refractories27 March 2023, Published under Cement NewsDalmia Cement (Bharat) Ltd (DCBL) has agreed to sell its entire investment of 18,723,743 equity shares in Dalmia Bharat Refractories Ltd to M/s Sarvapriya Healthcare Solutions Private Ltd. The transaction represents 42.36 per cent of share capital, at a total consideration of INR8000m (US$97.12m), and forms part of DCBL’s strategy to exit non-core business/investment, according to the company. |
Summit Materials appoints Executive VP and CFO27 March 2023, Published under Cement NewsSummit Materials is pleased to announce the appointment of Scott Anderson as its new executive vice president and chief financial officer (CFO), effective from 1 March 2023. Mr Anderson has been an integral member of Summit's leadership team, serving as president of the central region since 2020. In addition to over two decades of industry experience with Hamm and Summit companies, he has recently distinguished himself by moving swiftly to deliver on the Elevate Summit goals. ... |
Mason City Cement invests in AF use27 March 2023, Published under Cement NewsMason City Cement, part of Heidelberg Materials , is reportedly investing US$4-5m over the next few years to increase the alternative fuel utilisation rate at its plant to 50 per cent by 2026. Reserves for producing cement in North Iowa are believed to be able to sustain production for another 75-100 years, reports Globe Gazette. Heidelberg Materials is looking to earn 50 per cent of its revenue from sustainable products by 2030, and has committed to reducing its CO 2 emissions by al... |
LafargeHolcim Maroc reports 31% drop in net income24 March 2023, Published under Cement NewsLafargeHolcim Maroc , part of the Holcim group, posted a 2.6 per cent YoY decrease in consolidated turnover to MAD7.98bn (US$776.5m) in 2022. Sales volumes of the company contracted and were only partially offset by higher clinker sales and the increase in the average selling price. Moroccan cement demand declined by 10.6 per cent in as inflation impacted the economy. Current operating income reached MAD2.69bn in 2022, down 23 per cent YoY, due to the drop in cement sales and the rise in... |
Tabuk Cement reports 30% YoY increase in revenue in 202224 March 2023, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co has reported revenue of SAR297.55m (US$79.35m) in 2022, up 30.2 per cent from the SAR228.53m seen in 2021. Over the same period, net profit after zakat and tax advanced 18 per cent from SAR17.76m to SAR20.97m. Meanwhile, earnings per share rose from SAR0.20 to SAR0.23, reports Zawya. In the first nine months of 2022, revenue was up 20.6 per cent YoY at SAR210.11m, while net profit fell 80.71 per cent YoY to SAR3.36m. |
Ecocem creates Head of People and Culture position24 March 2023, Published under Cement NewsEcocem has announced the appointment of Jennifer Dolan as Head of People and Culture. In this role, her responsibilities will include oversight of the company’s people strategy and objectives, and evolving Ecocem’s workplace ethos and culture to support the business’ ambitious mission. Ms Dolan brings over 15 years of experience in the HR industry. Prior to joining Ecocem, she held various roles leading HR programmes at technology companies, including a decade-long tenure at Ve... |
Bamburi Cement announces new CEO24 March 2023, Published under Cement NewsKenya's Bamburi Cement (part of the Holcim Group) has appointed Mohit Kapoor as its new chief executive officer, effective from 1 April 2023. Mr Kapoor replaces Seddiq Hassani who has left the company after five years at the helm, reports Business Daily Africa. Mr Kapoor has over 20 years’ experience in corporate leadership having held several high level management positions within the Holcim Group, including CEO of Holcim Qatar and head of growth and innovation at Holcim India. Bam... |
Luks Group (Vietnam Holdings) hit by construction standstill in 2H2223 March 2023, Published under Cement NewsLuks Group (Vietnam Holdings) Co Ltd has reported revenue of HKD492.88m (US$62.8m) in 2022, down from HKD513.23m in the previous year. Profit for 2022 came in at HKD48.5m, compared to HKD84.6m in 2021, while earnings per share fell from HKc16.8 to HKc10.6 over the same period. Revenue from sales of cement products stood at HKD281.45m in 2022, marking a contraction from HKD310.3m in 2021. According to the company, the fall in cement revenue was due to Vietnam’s real estate and construc... |
Umm Al Qura sees net profit plunge 72% YoY in 202223 March 2023, Published under Cement NewsSaudi Arabia-based Umm Al Qura Cement Company has reported revenue of SAR221.21m (US$58.99m) in 2022, down 20.66 per cent from the SAR278.83m seen in the previous year. Net profit after zakat and tax over the same period fell 71.77 per cent to SAR22.98m, reports Zawya. Earnings per share in 2022 came in at SAR0.42, compared to SAR1.48 in 2021. In the first nine months of 2022, the company saw revenue contract by 15.13 per cent YoY to SAR179.29m, while net profit after zakat and tax was do... |
Tarmac plans to cut jobs despite huge profits22 March 2023, Published under Cement NewsTamac ( CRH Plc) is planning to cut as much as 10 per cent of its workforce in the UK according, to the GMB Union, which has called on the aggregate and building supplies giant to think again and step back from forcing through over 400 redundancies at the company. The union has slammed the company’s unwillingness to consider counter proposals put forward by GMB members to halt job losses. GMB Union says that these reckless redundancies are unnecessary in the context of huge company pr... |