Cement News tagged under: corporate
Caribbean Cement reports drop in 2Q profit05 August 2022, Published under Cement NewsJamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m. Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22. The drop in earnings was attributed to increased operational expenses during a downturn in the global economy. |
Carbon Clean makes new sales appointments05 August 2022, Published under Cement NewsCarbon Clean has boosted its global sales team with appointments that cover Asia, Europe and the Middle East. Lim Beng Chong joins as sales director Asia-Pacific, based in Singapore. Federico Cruzzolin has been hired as sales Manager Europe and is based in Frankfurt, Germany. While Niraj Singh has been promoted to sales manager Middle East and Africa and will be located in Mumbai, India. These appointments follow the recent record US$150m Series C funding round and the company’s... |
Buzzi Unicem net sales rise 17% in 1H2204 August 2022, Published under Cement NewsBuzzi Unicem recorded 1H22 net sales at EUR1880m, up 17 per cent compared to the 1H21 and EBITDA at EUR365m, an increase of 3.6 per cent on the 1H21. Favourable foreign exchange rates had an effect of EUR77m on net sales and of EUR19m on EBITDA. Cement sales volumes dropped by four per cent in the 1H22 to 14,233t, compared to the 14,833t in the 1H21.The overall favourable development recorded in the first three months of the year was followed by a slower second quarter, with the excepti... |
GCC invests US$750m to expand Odessa capacity04 August 2022, Published under Cement NewsGCC plans to invest US$750m to expand its production capacity at its plant in Odessa , Texas, USA. The project will increase cement production capacity by more than 1Mta and reduce the plant’s greenhouse gas intensity by 13 per cent, according to a statement sent to the Mexican Stock Exchange. "GCC will carry out the project at the Odessa plant because the US market is developing faster and represents savings in freight compared to the plant located in Chihuahua, Mexico," it said. The... |
Cimtogo increases delivery prices04 August 2022, Published under Cement NewsFrom August, HeidelbergCement -owned Cimtogo will increase its delivery costs. "The commercial management has decided to revise upwards the delivery prices of our products throughout the territory in order to ensure the continuity of your activity in the best conditions", informs the note signed by the main directors of Cimtogo. The company will increase its distribution cost tariffs by 15 per cent at the Lomé and Kara plants from 1 August, said the company in a memo. The main reason ... |
INC deliveries impacted by bag shortage04 August 2022, Published under Cement NewsParaguay’s state-owned cement producer INC is still not delivering cement from its Villeta plant due to a shortage of bags, reports ABC Color. The company has received bids for a contract to deliver bags but they were too high for its allocated budget of PYG31.79bn (US$4.6m). The bids from Bolpar and Kuatiapo were PYG52.2bn and PYG45.2bn, respectively. |
Ramco Cements 1Q net profit falls 34%03 August 2022, Published under Cement NewsIndian cement producer The Ramco Cements saw its revenue from operations expand by 44 per cent to INR17.72bn (US$225.5bn). The company reported a stand-alone net profit of INR1.127bn in the 1Q22, down 34 per cent YoY as input and raw material costs spiked. “EBIDTA for Q1 this fiscal is INR308 crore [INR3.08bn] against INR370 crore [INR3.7bn] during Q1 last year with de-growth of 17 per cent, mainly due to sharp increase in fuel price and weak cement prices. The industry could not pass on... |
Star Cement 1Q net profit drops 24%03 August 2022, Published under Cement NewsIndia-based Star Cement has seen its net profit decline by 23.7 per cent YoY to INR413.2m (US$5.23m) in the first quarter of FY22-23 (ended 30 June 2022) when compared with a net profit of INR541.8m in the year-ago period. Net revenue increased by 28.7 per cent to INR6.393bn in the 1QFY22-23 from INR5.044bn in the 1QFY21-22. Operating expenses were up by 32.7 per cent YoY to INR5.721bn in the 1QFY22-23. Other income advanced y 32 per cent YoY to INR83.4m. Operating profit edged up by 5... |
EAPCC sees start kiln shell replacement03 August 2022, Published under Cement NewsEast African Portland Cement Co (EAPCC) has started the replacement of the kiln shell at its Athi River plant in Kenya. The burning zone of the kiln has been damaged for some time and has led to cement shortages in the market. Due to the high costs of energy and an old clinker line, the board has prioritised efficiency and reliability of our integrated plant operations to drive cost optimisation,” said Oliver Kirubai, the company’s managing director. The 54m-long kiln will see the re... |
Dangote Cement's regional volumes fall by 11% in 1H2203 August 2022, Published under Cement NewsDangote Cement 's pan-African volumes reduced by 11 per cent to 4.9Mt from 5.5Mt in the 1H22 due to increased supply chain challenges and maintenance activities. The best-performing markets for the group were Ethiopia, Senegal and Tanzania. Ethiopia is one of the largest markets for Dangote Cement outside of Nigeria. The market remains short of supply as most plants are operating at very low capacity. Ethiopia's total market for cement was appproximately 2.7Mt in the first six mon... |