Cement News tagged under: corporate
HeidelbergCement reports on a difficult 1Q2212 May 2022, Published under Cement NewsHeidelbergCement recorded sales volumes in most business lines around the same level of the previous year in the 1Q22. At 28.4Mt (previous year: 28.4Mt), group-wide cement and clinker sales volumes remained at the previous year’s level. The consolidation-related decline in sales volumes in North America resulting from the sale of the group's activities in the west region in October 2021 was offset by the growth in sales volumes in the other group areas. Excluding consolidation effects, cem... |
Votorantim Cimentos earns revenues of BRL4.9bn in the 1Q2212 May 2022, Published under Cement NewsVotorantim Cimentos ended the 1Q22 with consolidated net revenue of BRL4.9bn (US$953.1m), an increase of 22 per cent compared to the same period last year. This was primarily due to favourable price dynamics in Brazil, North America, Europe, Asia and Africa, in addition to the positive effect of new sales volumes resulting from acquisitions made by the company during 2021. In the first quarter, the company’s global cement sales totalled 8Mt, a growth of five per cent compared to 1Q21, d... |
Carbon Clean raises US$150m in latest round of funding12 May 2022, Published under Cement NewsCarbon Clean has closed the largest-ever equity funding round for a point source carbon capture company with US$150m raised from existing investor Chevron. Chevron led the round alongside Cemex Ventures, Marubeni Corp and WAVE Equity Partners, as well as new investors, including AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy. So far, Carbon Clean has raised US$195m, having closed its US$30m Series B investment round in August last year. This new funding will h... |
Dalmia Cement (Bharat) Ltd will expand Belagavi cement plant12 May 2022, Published under Cement NewsDalmia Cement (Bharat) Ltd is expanding its existing manufacturing plant at Belagavi in north Karnataka by investing INR3000m (US$38.3m). The company expects the investment to create up to 700 new jobs by March 2024. “We plan to invest INR2000m to INR3000m in the next two years towards manufacturing expansion, in terms of enhanced production capabilities, and renewing our energy commitment by planning a solar power capacity installation of 9MW to reduce electricity consumption by half... |
Ethiopia prohibits cement plants employing agents to sell cement12 May 2022, Published under Cement NewsThe Ministry of Industry in Ethiopia has directed cement factories to exclude agents from the market network ,and sell the product directly, according to Addis Standard. In a letter dispatched to 10 cement factories, the ministry asked the factories to indicate in a letter the names and number of agents they had excluded. State Trade Minister, Hassen Mohammed, told the news outlet that the ministry is working to shorten the commercial chain, adding that agents were one of the reasons ... |
JSW Group to submit bid for Holcim India11 May 2022, Published under Cement NewsJSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn. JSW Group currently ... |
Dalmia Bharat Ltd records rising sales volumes of 22.2Mt in FY2211 May 2022, Published under Cement NewsDalmia Bharat Ltd reported its FY22, for the period ending 31 March 2022, with sales volumes reaching 22.2Mt compared to 20.7Mt in FY21. The company’s EBITDA totalled INR112,860m (US$1461m) in the FY22 up from INR101,100m in the FY21. However, Dlamia Bharat’s profit after tax reached INR11,600m compared to INR11,860m in the FY22. Dalmia Bharat’s 4QFY22 sales totalled 6.6Mt compared to 6.4Mt in the 4QFY21. EBITDA in this period totalled INR6830m down from 7680m in the 4Q21. Profit after ... |
Inflationary pressures impact Argos results in the 1Q2211 May 2022, Published under Cement NewsArgos ( Grupo Argos ) reports its 1Q22 generated record revenues of COP2.6trn (US$637.8m), up 11.2 per cent, and EBITDA of COP359bn, 17.8 per cent lower than in the 1Q21, mainly due to higher inflationary pressures that impacted costs associated with raw materials, energy, freight, and operational maintenance. The company highlights the very good price performance in all regions, which is expected to mitigate the impact of inflation on costs going forward. Cement volumes remained stable a... |
HeidelbergCement parters Giatec Scientific with a minority investment11 May 2022, Published under Cement NewsHeidelbergCement continues to advance its digital transformation by acquiring a strategic minority stake in Canada-based technology company Giatec Scientific through a low single-digit million euro investment. Together with its new partner, HeidelbergCement will drive the development and adoption of industry-leading sensor technology and AI-driven software with the clear target to reduce the carbon footprint of concrete and optimise processes for its ready-mixed concrete customers. Giat... |
Pangaea Logistics Solutions Ltd appoints VP Business Development - Ports & Logistics10 May 2022, Published under Cement NewsPangaea Logistics Solutions Ltd, who provides maritime logistics to transport a wide range of drybulk cargoes such as cement clinker, dolomite and limestone, has appointed Brent Mahana as vice president of business development for its ports and logistics business. Mr Mahana will bring over 30 years of experience in marine transportation, stevedoring, port and terminal management and related logistics activities, and will be focussed on expanding opportunities in Pangaea's growing ports an... |