Cement News tagged under: corporate
UltraTech Cement Ltd reports net sales of INR150,070m in 1QFY2325 July 2022, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has announced its financial results for the quarter ended 30 June 2022 with consolidated net sales of INR150,070m (US$1.88bn) versus INR116,980m over the corresponding period of the previous year. After a strong end to FY22, cement demand was impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up in June 2022 on pre-monsoon construction activity. Profit before interest, depre... |
Sika sees sales advance 18% YoY in 1H2225 July 2022, Published under Cement NewsSika has reported an 18 per cent YoY increase in sales to CHF5250.3m (US$5424m) in the first half of 2022. In local currencies this equates to growth of 19.5 per cent. Operating profit (EBIT) over the same period advanced by 22.7 per cent YoY to CHF841.9m with a record EBIT margin of 16 per cent. According to the company, higher input costs due to a substantial rise in the cost of raw materials were offset by price increases, despite the difficult geopolitical and macroeconomic environment. ... |
CEMEX to buy clean energy from Acciona for Spanish operations25 July 2022, Published under Cement NewsCEMEX will purchase clean energy from energy supplier Acciona to power its cement operations in Spain, according to the cement company. The purchase agreement ensures supply of green energy to cover 30 per cent of the cement producer’s requirements in Spain. "This agreement shows our commitment to our clean energy transition, adding to the success of similar agreements in other geographies," said Sergio Menéndez, president of CEMEX Europe, Middle East, Africa and Asia. CEMEX also sees it... |
Ha Tien Cement's net profit halves to VND160bn25 July 2022, Published under Cement NewsHa Tien Cement JSC’ s ( Vicem group ) net profit halved YoY in the 1H22 to VND160bn (US$6.8m) due to higher fuel and additive costs. The company says prices of key inputs like coal, oil and gypsum increased sharply, pulling down profits. It reported revenues of VND4.34trn (US$184.8m), up 8.5 per cent. The military conflict between Russia and Ukraine, and the embargo by the West have caused global coal, oil and gas crises. According to the Vietnam National Cement Association, coal account... |
Dewan Cement appoints new CEO and director25 July 2022, Published under Cement NewsPakistani cement producer Dewan Cement Ltd informed Pakistan Stock Exchange that Ishtiaq Ahmed and Waseem-ul-Haque Ansari have been appointed as CEO and director of the company, respectively. The appointments are effective of 15 July 2022 and replace Malik Bilal Omar. |
UltraTech Cement expected to report 29% fall in profit22 July 2022, Published under Cement NewsUltraTech Cement is expected to report a 29 per cent YoY drop in net profit to INR12,140m (US$151.9m) for the three months ended 30 June 2022, compared to INR17,000m in the same quarter a year earlier. According to The Economic Times, the fall is due to a 10-15 per cent YoY surge in power and fuels costs, as petcoke and thermal coal prices remain elevated, along with an estimated 5-7 per cent uptick in freight costs. Revenue for the quarter is expected to come in at INR142,380m, up 2... |
Ragland Cement plant inaugurates new 1.65Mta line22 July 2022, Published under Cement NewsNational Cement Co 's Ragland cement plant, in Alabama, USA, has completed a two-year, US$300m project to install a new production line with alternative fuels. The key component of the production line is a rotary kiln that replaces coal with various fuels such as recycled wood chips, saw dust from area furniture and cabinet manufacturers, and tyre-derived fuels (TDF) composed of shredded scrap tyres. Guy Sidos, chairman and CEO of the Vicat Group , notes : “It is our fervent a... |
CEMEX gives Solid Cement expansion project update22 July 2022, Published under Cement NewsCEMEX Philippines is building a US$356m new integrated cement line in its Solid Cement plant in Antipolo City, Rizal, Philippines, to raise the plant’s annual capacity by 1.5Mta to 3.4Mt, and position itself to supply more for the nation’s infrastructure programmes and building needs. CEMEX Philippines President and CEO, Luis Franco, said that “this expansion project will not only meet infrastructure needs, but will also increase the growth and development opportunities in the com... |
Secil launches Concrete Verdi Zero22 July 2022, Published under Cement NewsSecil has launched Concrete Verdi Zero, the first concrete with zero CO₂ emissions in Portugal, an innovative and sustainable product that meets the objectives of achieving carbon neutrality in the cement industry by 2050 and the necessary decarbonisation of the construction sector. “With the launch of Verdi Zero concrete, Secil takes a step forward in the construction of a more sustainable future, with buildings and infrastructures that are less carbon-intensive and have less im... |
Grasim Industries to set up building materials e-commerce platform21 July 2022, Published under Cement NewsGrasim Industries, the flagship company of the Aditya Birla Group , is investing INR20,000m (US$250m) in a B2B e-commerce platform for building materials. The platform will primarily focus on micro-, small- and medium-sized enterprises in the building materials segment with the potential to extend into other relevant categories, reports the Financial Express. The key value proposition would be an integrated procurement solution, including on-time delivery and a superior product range at ‘... |