Cement News tagged under: corporate
Attock Cement's new line to start at end of FY2330 November 2022, Published under Cement NewsThe management of Attock Cement Pakistan Ltd (ACPL) has announced that its new 4000tpd (1.2Mta) line will come online by the end of FY22-23. Top managed disclosed this at an analyst briefing held to discuss the recent financial performance and give an outlook of the company in the future, according to a report of AHL Research. The total expansion cost at Balochistan is estimated to be over PKR15bn (US$66.82m) and will be financed with a combination of debt and equity. Earlier, ACPL ins... |
Bestway Cement's post expansion capacity will stand at 15.2Mta30 November 2022, Published under Cement NewsThe top management of Bestway Cement Ltd organised a corporate briefing earlier this month to discuss the company's 1QFY22-23 results and outlook. The company's CFO, Muhammad Amir Khan, and Head of Budgeting, Treasury and Reporting, Muhammad Danish Khan, of Bestway Cement Ltd announced that the start of commercial operation of 7200tpd clinker line at the Minawali location is expected in December 2022 and the 7200tpd clinker line in Hattar II will start up in March 2023. The post-expan... |
Empresas Melón to close Peñalolén plant30 November 2022, Published under Cement NewsChile-based Empresas Melón has announced the closure of its ready-mix concrete plant in Peñalolén, near Santiago. The company, owned by the Brescia group, attributes the closure to the downturn in the construction market. “Mélon is adjusting its operations in metropolitan areas to adapt to the new market conditions forecast for 2023, particularly in the construction sector,” the company said. Following the closure of the plant, which will see the dismissal of 54 staff, its customers will... |
Bamburi Cement forecast to see 25% drop in earnings29 November 2022, Published under Cement NewsBamburi Cement is expected to post net earnings for FY2022 down by at least 25 per cent compared to FY21, according to Reuters News. The loss in earnings is being attributed to slowing demand for cement, rising energy costs and increasing raw material costs. |
PIBT reports volumes down in 1QFY22-2329 November 2022, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBT) reported cargo volumes down to 2.133Mt in the 1QFY22-23 (ended 30 September 2022) compared to 2.782Mt reported in the same period of the previous financial year. The trend is in line with industry demand for imported coal. However, the terminal’s net revenue increased by 1.3 per cent YoY to PKR3.461bn in the 1QFY22-23 from PKR3.138bn. A loss of PKR437m was reported for the 1QFY22-23 period. The net loss after taxation has been attributed to t... |
US$8m cement distribution centre planned for Montego Bay28 November 2022, Published under Cement NewsPlans to establish a new US$8m cement distribution centre in Montego Bay, Jamaica, have been put forward by cement importers Buying House Cement. For the last 16 years, Montego Bay company Buying House Cement has been importing cement to meet 10 per cent demand from the Domicem cement plant in the Dominican Republic. Businessman Mark Hart is the chairman of Cargo House Handlers, a publicly-listed company with 30 per cent shares in Buying House Cement. According to Hart, the development... |
Breedon on track to deliver record earnings25 November 2022, Published under Cement NewsBreedon Group reported that trading conditions remained supportive in the second half, enabling the company to fully recover rising input costs through robust pricing and disciplined cost management. In the four months to October 2022 group revenue expanded by 16 per cent YoY, resulting in a revenue of GBP1186m in the year to date, up 14 per cent YoY and 12 per cent on a like-for-like basis. In Great-Britain the group delivered a strong operational performance and advanced strategically.... |
Malayan Cement reports 98% rise in revenue25 November 2022, Published under Cement NewsMalayan Cement Berhad , part of YTL Cement Berhad , has reported revenue of MYR2.71bn (US$605.6m) in FY2022, up 98 per cent on the previous year. Net income has come in at MYR83.5m, compared to MYR76.2m in FY2021. Profit margin over the same period has advanced from 0.5 per cent to 3.1 per cent, driven by the higher revenue. Earnings per share improved from MYR0.009 in FY2021 to MYR0.068 in FY2022. According to Simply Wall St, while earnings per share exceeded analyst expectations by 3... |
Heidelberg Materials acquires RWG Holding GmbH25 November 2022, Published under Cement NewsHeidelberg Materials has acquired Germany-based RWG Holding GmbH, an integrated provider in the demolition and construction materials recycling sector and market leader in the greater Berlin area. According to Heidelberg Materials, the acquisition will strengthen its circular materials offering to meet the growing demand for sustainable building materials. The processing of concrete demolition waste will allow Heidelberg Materials to increasingly prioritise recycled aggregates over primar... |
Pioneer Cement considers green and brownfield expansions24 November 2022, Published under Cement NewsPioneer Cement Ltd (PIOC) of Pakistan is continuously assessing new avenues and business ventures, including green and brownfield expansions in the country, according to the company’s FY21-22 Annual Report. The introduction of the 10,000tpd Line III at PIOC's integrated cement works in Khushab district, Punjab province, has increased total capacity at the plant to 17,300tpd. In addition, a 12MW waste heat recovery (WHR) facility and a 24MW coal power unit have been in operation ... |