Cement News tagged under: corporate
Coolbrook appoints SVP of Communications01 February 2023, Published under Cement NewsTechnology and engineering company Coolbrook Oy has announced the appointment of Jenni Schumacher to the position of SVP of Communications. Ms Schumacher has most recently led external communications at international renewable fuels company Neste and prior to that held communications roles at global stainless steel producer Outokumpu and Microsoft. At Coolbrook Ms Schumacher’s experience across the energy, manufacturing, and technology industries will help to shape Coolbrook’s interna... |
Lucky Cement increases profit by 23% in 1HFY21-2231 January 2023, Published under Cement NewsPakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21 per cent to PKR45.333bn from PKR37.549bn during the same period last year. It incurred adistributio... |
UltraTech Cement to acquire majority share in Duqm Cement Project31 January 2023, Published under Cement NewsUltraTech Cement Middle East Investments Ltd, (UCMEIL) a wholly owned subsidiary of the company in UAE, has released a statement signifying that it has entered into a share sale and purchase agreement with Seven Seas Company LLC, Oman, for acquisition of 70 per cent equity shares in Duqm Cement Project International, LLC, Oman. |
Clinker unloading at Polpaico’s Mejillones terminal suspended31 January 2023, Published under Cement NewsClinker unloading at Cemento Polpaico ’s Mejillones terminal in northern Chile will remain suspended at least until 1 August 2023 as Terminal Mejillones SA carries out repairs to the facilities, which were affected by a fire on 1 October 2022. The cement producer said it would be adopting a series of measures to minimise the impact of the suspension. |
Adani Group shares tumble amidst fraud claims31 January 2023, Published under Cement NewsGautam Adani, owner of the Adani Group , saw his fortune fall by US$20bn on Friday last week after investors withdrew from his companies amidst fraud claims made by a US investment firm. Hindenburg Research published a report accusing the Adani Group of decades of stock manipulation and accounting fraud, according to the BBC. The report was released ahead of a planned share sale for Adani Enterprises, but the news resulted in shares in the company falling by almost 20 per cent. Some of t... |
Les Ciments de Bizerte reports 5% revenue drop in 202230 January 2023, Published under Cement NewsRevenues of Tunisia-based Les Ciments de Bizerte saw a five per cent decline to TND123.8m (US$40.1m) in 2022 from TND130.8m in 2021. Domestic revenues edged up by 1.6 per cent YoY to TND112.4m in 2022, but exports were down 43.5 per cent YoY to TND11.4m from TND20.2m. Clinker production fell 24.2 per cent to 538,150t and 553,883t of cement. The drop in output was attributed to disruptions in raw material supply due to land issues. The company’s debt stood at TND153.9m on 31 December ... |
Adbri appoints new deputy chair and lead independent director30 January 2023, Published under Cement NewsAdbri Ltd has announced that its current independent non-executive director, Samantha Hogg, has been appointed deputy chair and lead independent director following the resignation of Dr Vanessa Guthrie AO. Ms Hogg’s appointment will be effective on 1 March 2023. Dr Guthrie AO is stepping down from the Adbri Board on 28 February 2023 to focus on other board commitments. Ms Hogg joined the Adbri Board in March 2022 and is an experienced director and former executive having held senior lead... |
Eagle Materials achieves record revenue27 January 2023, Published under Cement NewsEagle Materials has reported record revenue of US$511m in the third quarter of fiscal 2023 ended 31 December 2022, marking a YoY increase of 10 per cent. Record net earnings were also seen over the quarter, coming in at US$117m, up 14 per cent YoY, while net earnings per share (EPS) advanced by 26 per cent to US$3.20. Adjusted EBITDA saw growth of 14 per cent YoY to US$199m. Commenting on the results, Michael Haack, president and CEO of Eagle Materials, said, “We are pleased to announc... |
Shree Digvijay Cement sees 36% revenue increase27 January 2023, Published under Cement NewsIndia’s Shree Digvijay Cement Co Ltd has reported a 36 per cent YoY increase in revenue in the 3QFY23 (ended 31 December 2022) to INR2064.4m (US$25.3m). EBITDA over the same period came in at INR170m, down from the INR200.2m seen in the same period a year earlier, while profit after tax advanced from INR72.7m to INR101.9m over the same period. Sales volumes in the 3QFY23 stood at 3.51Mt, up from 2.87Mt in the 3QFY22. For the nine months ended 31 December 2022, revenue was INR5296.8m, u... |
CASEC to increase stake in CEMEX Philippines27 January 2023, Published under Cement NewsCEMEX Asian South East Corp (CASEC) is increasing its stake in CEMEX Holdings Philippines Inc (CHP) from 77.89 per cent to 89.86 per cent by acquiring an additional 11.97 per cent through a PHP2.1bn (US$38.5m) tender offer, reports Manila Bulletin. In a disclosure to the Philippine Stock Exchange (PSE), CEMEX said the tender offer will reduce its public float from the current 22.11 per cent to 10.14 per cent, However, it noted that the tender offer is not being made with the intention ... |