Cement News tagged under: corporate
Vulcan Materials posts fall in revenues in 1Q2408 May 2024, Published under Cement NewsUS-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came in at US$305m (1Q23: US$302m) while adjusted EBITDA stood at US$323m (1Q23: US$338m). Commenting on the results, Tom Hill, Vulcan Materials' chairman and CEO, said, "Our teams' solid execution helped us overcome challenging weather conditions throughout much of the first quarter. Margins expanded despite lowe... |
AfriSam enhances road durability with Roadstab cement08 May 2024, Published under Cement NewsAfriSam 's Roadstab cement is a specialised, high quality composite cement engineered specifically for road stabilisation tasks. The product is designed to optimise the properties of soils used in road construction, notably by reducing their plasticity and enhancing their strength and stability. The formulation of AfriSam Roadstab Cement aims to address the vital requirements of road construction projects by ensuring the durability and stability of road bases. The unique composition contri... |
Fauji Cement strives to improve fundamentals and strengthen its investment case08 May 2024, Published under Cement NewsBMA Capital Management Ltd believes Fauji Cement Co Ltd (FCCL) will reap the benefits of an uptick in local cement demand by FY25, as well as strengthening market share and efficiency gains through new lines and the incorporation of green technology. In addition the company could benefit from an efficient fuel and power mix to enhance margins, strong pricing power to support profitability in a low-demand environment, and an anticipated reduction in interest rates to reduce debt servicing... |
Heidelberg Materials UK acquires Mick George Ltd08 May 2024, Published under Cement NewsHeidelberg Materials UK has completed its acquisition of leading recycling company Mick George Ltd (MGL), following approval from the Competition and Markets Authority (CMA). MGL has an annual turnover of around GBP220m (US$276.4m) and specialises in recycling and waste management services. It operates around 40 recycling facilities, waste transfer stations, aggregate quarries and ready-mixed concrete plants in East Anglia and the East Midlands in the UK. In order to address the CMA’s ... |
Heidelberg Materials sees revenue dip 8% YoY in 1Q2407 May 2024, Published under Cement NewsHeidelberg Materials has reported an eight per cent YoY decline in revenue to EUR4488m in the opening quarter of 2024. According to the company, the fall was the result of lower sales volumes due to poor weather conditions in key regions and a reduced number of working days in the quarter, although these factors were partially offset by positive price momentum in the individual core markets. The result from current operations before depreciation and amortisation (RCOBD) over the first quar... |
Birla Corp reports 127% jump in net profit07 May 2024, Published under Cement NewsBirla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growth in net profit in the March quarter, despite unusually weak market conditions. After steadily ramping up the Mukutban unit, the company’s cement division achieved a capacity utilisation rate of 97 per cent for the March quarter, marking yet another milestone. Consolidated net profit for the March quarter came i... |
Cool Planet signs carbon capture MoU with Carmeuse07 May 2024, Published under Cement NewsCool Planet Technologies Ltd, based in Guildford, UK, has signed an Memorandum of Understanding (MoU) with Carmeuse Technologies SA, a key global producer of lime, limestone and mineral-based products, to collaborate on decarbonisation technology developments, using Cool Planet's advanced membrane-based carbon capture technology. Cool Planet's technology will be used to build a pilot demonstration plant and a study for an industrial plant decarbonisation solution for Carmeuse's lime produ... |
EAPC recommissions Athi River plant06 May 2024, Published under Cement NewsEast African Portland Cement (EAPC) has recommissioned its Athi River plant in Kenya, boosting the company’s cement production capacity by 1Mta over the next two years, reports The Star. The plant has been closed for a month for renovations and maintenance. It also underwent the installation of a new kiln shell in 2022, resulting in a 38 per cent expansion in revenue. This latest closure and recommissioning forms part of EAPC’s plans to increase efficiency and production, enabling the co... |
Saint-Gobain signs Romanian energy deal06 May 2024, Published under Cement NewsSaint-Gobain has signed a five-year renewable electricity supply agreement (power purchase agreement or PPA) in Romania with energy supplier OMV PETROM SA. The contract covers the purchase of green electricity from wind and photovoltaic sources provided by OMV PETROM SA and will start in January 2026. OMV PETROM SA will provide around 800GWh of green electricity for a period of five years. This contract, combined with a photovoltaic park currently in the final stage of development at ... |
Dangote Cement announces Philip retirement06 May 2024, Published under Cement NewsDangote Cement has announced the retirement of its Deputy Group Managing Director, Mathew Philip. Mr Philip retired from the cement producer on 30 April 2024, reports Business Day. “The company extends its appreciation to Mathew for his significant contributions and improvement to the operations of the business and wishes him well in his future endeavors,” said the company in a statement. |