Cement News tagged under: corporate
Yamama Cement to exceed 30,000tpd clinker production27 February 2023, Published under Cement NewsSaudi Arabia-based Yamama Cement Company expects its clinker production to exceed 30,000tpd following the launch of commercial operations at its new factory and relocation of its seventh production line to the new facility, said the company's CEO Jehad bin Abdulaziz Al-Rasheed. The expected completion date for the relocation project is the second half of 2025, reports Zawya. The company has signed an agreement with China’s Sinoma Overseas Development Company to relocate and install th... |
Holcim announces plans for new chairman27 February 2023, Published under Cement NewsHolcim has announced that Beat Hess, chairman of the company since 2016, has decided not to seek re-election to the Board of Directors at the AGM in May 2023. The board intends to propose Jan Jenisch, current CEO of Holcim, as the new chairman. Subject to the vote, Mr Jenisch will succeed as the chairman and continue as CEO of Holcim for a limited duration. According to the company, this double mandate is for a limited duration and a CEO successor will be announced within the next 12 month... |
Dangote Cement names new CEO27 February 2023, Published under Cement NewsDangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave at the end of February after three years at the helm. The new CEO’s tenure begins on 1 March. Mr Pathak led India’s Birla Corp before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co Ltd as regional CEO and has experience spanning... |
Holcim reports net sales of CHF29,289m in 202224 February 2023, Published under Cement NewsHolcim reported its financial results for 2022 announcing net sales of CHF29,189m (US$31.2m) for 2022. This was a 12.9 per cent rise on a LfL basis compared to the prior year. The increase was driven by the fast expansion of the Solutions & Products division, which grew by 54 per cent compared to the previous year. Holcim CEO, Jan Jenish, said: " In 2022, we delivered record financial results with CHF 29.2bn in net sales, CHF 4.8bn in recurring EBIT, 9.5 per cnet ROIC and a record ... |
SCG reports 7% increase in revenue24 February 2023, Published under Cement NewsThe Siam Cement Public Co Ltd (SCG) reported a 14 per cent drop in sales revenue to THB122,190m (US$3510.1m) in the 4Q22 when compare with the 4Q21. The company’s EBITDA fell by 53 per cent YoY to THB10,122m while profit was down by 98 per cent YoY to THB157m. The results were affected by lower chemicals product prices and volume driven by softer demand. In the 2022 financial year, sales revenues increased seven per cent YoY to THB569,609m, supported by the company’s Packaging and Ce... |
Orient Cement terminates grinding unit MoU24 February 2023, Published under Cement NewsOrient Cement has terminated a memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) to set up a grinding unit in Maharashtra, India. According to The Hindu, the MoU was signed in September 2021. Orient Cement said APML has requested it not to pursue the venture further as “they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the cement grinding unit due to some legal issues.” Also, “the timelines agreed upon as ... |
Heidelberg Materials' revenue hits all-time high23 February 2023, Published under Cement NewsHeidelberg Materials has reported a 13 per cent YoY increase in group revenue to an all-time high of EUR21.1bn in 2022. Adjusted profit for the financial year also rose significantly, with adjusted earnings per share up 20 per cent YoY at EUR9.47. Good progress was seen in the company’s decarbonisation programme with specific net CO 2 emissions falling by a further two per cent. According to the company, higher energy and raw material prices had a significant impact on construction act... |
Three Pakistan producers post profits in 1HFY22-2323 February 2023, Published under Cement NewsThree of Pakistan’s cement factories have posted a profit in operation between July and December of FY22-23 (1HFY22-23). However, double-digit inflation, a hike in interest rates and a sharp devaluation of the Pakistani rupee have dampened cement demand. Moreover, low GDP growth, high cost of construction materials and the cut in Public Sector Development Programmes (PSDP) saw cement dispatches decline by 21 per cent YoY in the 1HFY22-23. Fauji Cement Fauji Cement Co Ltd (FCCL) earned... |
New plant director for Holcim Jerez plant23 February 2023, Published under Cement NewsHolcim España has appointed José María Gómez as new plant manager of the company’s Jerez plant. His work will focus on promoting innovation and sustainability through circularity, resource efficiency and development of the environment to accelerate Holcim Group ’s green growth strategy. Mr Gómez was previously head of production at the Montcada I Reixac plant. He has a degree in Environmental Sciences from the University of Castilla-La Mancha and has more than 15 years of extensive ... |
Taiwan Cement fined for price fixing22 February 2023, Published under Cement NewsTaiwan Cement Corp (TCC) is one of 18 firms fined a combined TWD213m (US$7m) for forming a ready-mixed concrete (RMC) price-fixing cartel, accord to Taipei Times. Since 2018 the companies have regularly met in person and messaged via apps to control the supply of RMC and drive up prices, reports the Fair Trade Commission. TCC faces an individual fine of TWD50m but has said that it will appeal against the ruling. “TCC’s ready-mix concrete quality and price have been considered to be the ... |