Cement News tagged under: corporate
Holcim board welcomes new members05 May 2022, Published under Cement NewsAt its annual general meeting on 4 May 2022, Holcim confirmed Beat Hess as the new chairman of the board. All members of the board standing for re-election were also confirmed in office, while Leanne Geale and Ilias Läber were both elected as new members. Shareholders also confirmed Claudia Sender Ramirez and Hanne Birgitte Breinbjerg Sørensen as members of the Nomination, Compensation & Governance Committee, while Ilias Läber and Jürg Oleas were elected as new members. Ms Sørensen will... |
Martin Marietta sees record revenue in 1Q2204 May 2022, Published under Cement NewsMartin Marietta’s building materials business has reported record 1Q22 products and services revenues of US$1077m, up 25.7 per cent YoY. According to the company, across all end-use markets, the business saw healthy underlying demand with price increases in all product lines. Texas cement shipments advanced by 10 per cent YoY during the quarter, supported by robust product demand and tight supply throughout the Texas Triangle. Pricing increased by 11.8 per cent, benefiting from the carr... |
Çimsa Cement invests US$45m in CAC facility04 May 2022, Published under Cement NewsTurkey’s Çimsa Cement is investing US$45m expanding the capacity of its calcium aluminate cement (CAC) facility at its Mersin plant , according to Yatırımlar Magazine. The move is reportedly in line with the company’s growth targets as it plans to expand its product range to add value. The project is due to start in the 2Q22 and be completed in the 3Q23. |
Dalmia Bharat joins the Holcim India race03 May 2022, Published under Cement NewsDalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta. UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro... |
Bamburi Cement full-year profit rises03 May 2022, Published under Cement NewsBamburi Cement Group reported a pre-tax profit of KES2.2bn (US$19m) in 2021, representing a 22.3 per cent YoY increase from KES1.8bn in 2020. The advance comes on the back of improved volumes and prices coupled with cost management, and also reflects continued economic recovery from impact of the COVID-19 pandemic. Group turnover increased by 19 per cent from KES34.9bn to KES41.4bn, attributed to growth in retail and key account segment in both Kenya and Uganda. Operating Profit rose b... |
Hoffmann Green signs supply contract with Groupe Duret Immobilier03 May 2022, Published under Cement NewsHoffmann Green Cement Technologies announced that it has signed a three-year partnership agreement with the Groupe Duret Immobilier. From 2022, and for the next three years, Hoffmann Green will supply the Groupe Duret Immobilier with its H-UKR and H-IONA zero per cent clinker cements for the construction of collective housing and commercial buildings in the French Western area. The first concrete pours, produced from H-UKR cement, have already started for the construction of the residence... |
UltraTechCement Ltd reports consolidated sales of INR155bn in 4QFY21-2202 May 2022, Published under Cement NewsUltraTech Cement Ltd has announced its financial results for the 4QFY21-22 and year ended 31 March 2022. The company reported consolidated net sales of INR155,570m (US$2035m) in the 4QFY21-22 versus 142,320m over the corresponding period of the previous year. Profit before interest, depreciation and tax in the 4QFY21-22 was INR31,650m compared to INR37,510m in the corresponding period of the previous year. Normalised profit after tax was INR14780m in the 4QFY21-22 compared t... |
Les Ciments de Bizerte reports 30% drop in turnover in 1Q2202 May 2022, Published under Cement NewsTunisia’s Les Ciments de Bizerte has recorded clinker production of 161,000t in the 1Q22, representing a 20.7 per cent decline YoY. Cement production over the same period came in at 121,183t, down 42 per cent. Production of lime saw a 60 per cent YoY decline in the opening quarter of 2022, equivalent to 3488t, which the company is attributing to the lack of demand for lime on the national market and in the sector. It should be noted that the production of cement and lime are based on dema... |
JSW Group joins the race for Holcim in India02 May 2022, Published under Cement NewsThe race for the acquisition of a controlling stake in Holcim Group’s cement businesses in India is intensifying, with JSW Group lining up an array of private equity firms and lenders to fund the deal. The move follows a similar arrangement by the Adani Group, helmed by billionaire Gautam Adani, which is also in discussions with a number of global lenders. JSW Group has reportedly received assurances for funds of up to US$11bn from PE firms and lenders, including American PE major Carlyle... |
Plant disruption drives Lafarge Zimbabwe to a loss02 May 2022, Published under Cement NewsLafarge Cement Zimbabwe recorded a US$695m loss in 2021, compared to a US$5bn profit in the same period a year earlier. The fall is reportedly due to the negative impact of disruptions from the roof collapse at one of its cement mills and the adverse effect of the COVID-19 pandemic. This led to a 21 per cent decline in 2021’s volume uptake and a subsequent loss before tax of US$364m, versus a US$3.2bn profit in the previous year. The collapse of the mill plant halted operations between Oc... |