Cement News tagged under: corporate
Dangote Cement appoints new CEO20 January 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 his position at the end of February after three years at as CEO. Arvind Pathak starts in his new position from 1 March. Mr Pathak led India’s Birla Corp, a cement producer, before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co L... |
Bullish 4Q22 results expected for Saudi Arabian producers19 January 2023, Published under Cement NewsTwelve Saudi Arabian cement companies' aggregate profit listed on Tadawul are expected to surge 101 per cent YoY and 20 per cent QoQ to SAR617m (US$164.5m) in the 4Q22, according to a local research house. Argaam sees bullish forecasts for most Saudi Arabian cement producers in the 4Q22 compared to the year-earlier period. Tabuk Cement Co , Yamama Cement Co , Yanbu Cement Co , City Cement Co and Arabian Cement Co are expected to post the biggest rise in the fourth-quarter profit. ... |
FLSmidth announces 4Q22 and 2022 results19 January 2023, Published under Cement NewsFLSmidth announced that its full-year 2022 preliminary and unaudited results are in line with guidance, the cement sector recording DKK1.6bn (US$232.7m) in revenues in the 4Q22 and DKK6.3bn (US$916.2m) in 2022. EBITDA margin totalled 4.3 per cent in the 4Q22 for cement and 3.3 per cent for the 2022. The 4Q22 and 2022 results included costs related to the thyssenkrupp mining acquisition of DKK125m and DKK252m, respectively. In addition, the 4Q22 and 2022 results include costs related to wi... |
GCP joins WCA as associate corporate member19 January 2023, Published under Cement NewsGCP, part of Saint-Gobain Construction Chemicals, as joined the World Cement Association (WCA) as an associate corporate members, said WCA in a statement. GCP’s recent integration with Saint-Gobain has expanded the company’s reach and expertise. Saint-Gobain Construction Chemicals offers cement additives, concrete admixtures and specialty building materials, through the combined ventures of GCP and Chryso. Together GCP and Chryso offer global construction solutions that help customers achi... |
Sagar Cements wins bid to acquire Andhra Cements18 January 2023, Published under Cement NewsSagar Cements Ltd has been named as the successful bidder to acquire Andhra Cements Ltd. The Committee of Creditors at Andhra Cements voted with a majority in favour of the resolution plan filed by Sagar Cements Ltd, said Andhra Cements in a regulatory filing. Andhra Cements operates two cement plants – the 1Mta Durga Cement Works in Dachepalli and the 0.6Mta Visaka Cement Works in Vishakapatnam – both of which are currently closed. This deal will not only boost Sagar Cement’s cement pr... |
China Shanshui Cement issues profit warning for 202218 January 2023, Published under Cement NewsChina Shanshui Cement has issued a profit warning, saying that it expects to report a fall in profit of at least 70 per cent in 2022. According to the company, attributable profit for the year is forecast to have contracted by at least 70 per cent, compared to the CNY2.78bn (US$410.8m) recorded in 2021. |
VDZ’s new appointments18 January 2023, Published under Cement NewsTo meet the growing tasks of CO 2 separation and digital process support, a new climate-neutral process technology department has been established at the German cement association, VDZ. Kristina Fleeter, a long-standing expert in CCUS technologies and process simulation will lead the new department. In his function as Managing Director of VDZ Technology GmbH, Volker Hoenig will continue to have overall responsibility. In terms of content, he will place a strong focus on the issue of CO₂ ... |
Livetouch Investments to build its second Zimbabwe cement plant17 January 2023, Published under Cement NewsLivetouch Investments is building a second cement plant in Zvishavane, Midlands, Zimbabwe, to the tune of US$20m under the first phase of the project. The first phase of the cement plant will produce 200,000tpa upon completion between June-July 2024. Livetouch Investments, whose first cement factory is situated in Redcliff, Midlands, is presently producing 200,000tpa against an installed capacity of 340,000tpa. In an interview, the company's managing director, Kyle Wang, said the c... |
Heidelberg Materials places first sustainability-linked bond17 January 2023, Published under Cement NewsHeidelberg Materials successfully placed its first sustainability-linked bond (ISIN XS2577874782) with an issue volume of EUR750m and a term until 2032 via HeidelbergCement AG as part of the EUR10bn European Medium Term Note (EMTN) programme. The company had already announced the issue of a bond linked to sustainability criteria at its Capital Markets Day 2022. Interest on the bond is linked to the development of specific CO₂ emissions per tonne of cementitious material up to 2026 as we... |
Itacamba appoints new general manager17 January 2023, Published under Cement NewsVotorantim Cimentos -owned Itacamba Cemento SA has appointed Marcelo Morales as its new general manager with effect from 1 January 2023. Mr Morales previously served for seven years as administration and finance manager at Itacamba. A Brazilian national with a Master’s of Business Administration degree, he has worked for more than 15 years in the cement industry. |