Cement News tagged under: corporate
Holcim records 1Q22 net sales growth of 20%25 April 2022, Published under Cement NewsHolcim announced net sales amounted to CHF6440m (US$6.72bn) in the 1Q22, up 20.1 per cent from CHF5362m recorded in the 1Q21. The company achieved double-digit net sales growth in Solutions & Products, driven by its roofing business sales, to achieve net sales of CHF5bn. Cement volumes reached 46.1Mt in the 1Q22, down 2.6 per cent on 47.3Mt recorded in the 1Q21. Sales of aggregates reached 51.5Mt up from 48.5Mt in the 1Q21, a rise of 6.1 per cent. Ready-mix volumes increased to 10.9... |
BUA sees jump in profit following new plant25 April 2022, Published under Cement NewsBUA Cement increased sales in the 1Q22 by 58.5 per cent to NGN97bn (US$233.4m) following the commissioning of its new 3Mta Kalambaina Line 4 . Other income surged seven times to NGN186m on the back of insurance claims, which represented 88.7 per cent of the income class. In addition, the management reduced net finance costs by 96.5 per cent. Post-tax profit increased by 48.2 per cent to NGN33.1bn when compared with the 1Q21. Profit margins stood at 34.2 per cent. BUA Cement expects to... |
Lafarge (Wapco) Cement Plc records profit of NGN17.55bn in 1Q2225 April 2022, Published under Cement NewsNigeria’s third-largest cement producer, Lafarge (Wapco) Cement Plc , has released its 1Q22 unaudited results reporting a profit of NGN17.55bn (US$42.2m) during the period, representing 92.2 per cent YoY increase. Revenue growth for the period reached 26.8 per cent YoY. Sales of cement increased by 26 per ent achieving sales of NGN87.99bn, and sales of aggregates and concrete grew by 62.29 per cent, generating NGN2.52bn during the period. Mortar sales also increased by 60.41 per cen... |
Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co25 April 2022, Published under Cement NewsSaudi’s Yanbu Cement has acquired shares owned by Kuwait’s Shuaiba Industrial Co in its unit Yanbu Saudi Kuwaiti Paper Products Co for SAR32.3m (US$8.6m). The transaction allowed the transfer of a 40 per cent stake in the paper manufacturer to Yanbu Cement, making it the full owner of the former, according to a bourse filing. Yanbu Cement will fund the transaction from its own resources. In line with the company’s expansion and growth visions, the deal aims to provide material a... |
CRH reports 1Q22 revenue growth of 15%22 April 2022, Published under Cement NewsCRH has reported 1Q22 revenues establishing a growth 15 per cent, up 13 per cent LfL. The Europe Materials division grew at 18 per cent in organic terms while the Americas Materials division recorded nine per cent organic sales growth. Aggregates saw volumes fall of three per cent in the quarter, impacted by poor weather conditions in the northeastern US. Asphalt grew a strong 19 per cent, helped by an eight per cent price increase. In the cement division prices rose 11 per cent ... |
JSW Group in discussions to raise funds to bid for Holcim's Indian operations22 April 2022, Published under Cement NewsSajjan Jindal-led JSW Group has initiated discussions with private equity (PE) firm Carlyle to join forces and back its bid for Holcim ’s Indian cement operations, said people aware of the matter. Holcim Group is reputedly looking to exit India 17 years after its entry, putting its twin listed arms of Ambuja Cements and ACC Ltd up for sale as part of a global strategy to focus on core markets. JSW, one of the strong contenders for the acquisition, is busy organising b... |
Carthage Cement improves 1Q cement exports22 April 2022, Published under Cement NewsTunisia-based Carthage Cement has improved its export turnover in the first quarter of 2022. Exports were up 32 per cent YoY to TND65m (US$21.8m). The company’s total turnover reached TND83.9m, up 3.4 per cent when compared with the 1Q21. The increase was achieved despite a challenging building and public works market. In terms of production in the first three months of 2022, Carthage Cement produced 398,284t of clinker, which represents an advance of seven per cent YoY. Cement product... |
Holcim reported to be looking for potential buyers of ACC Ltd19 April 2022, Published under Cement NewsBloomberg has reported on Holcim proposing to dispose of Ambuja Cements Ltd. Holcim owns ACC Ltd and Ambuja Cements in India. With approximately 64Mta of cement capacity it is second-largest producer behind UltraTech Cement in the country. The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, according the Economic Times. Deliberations are in the early stages and may not lead to a transaction, ... |
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
Akkermann Cement acquires unfinished Kaluga Cement plant19 April 2022, Published under Cement NewsRussia’s Akkermann Cement , owned by USM Holding , has acquired the Kaluga Cement Plant for RUB8.95bn (US$110m) at an auction, reports Esmerk Russian News. Kaluga Cement was declared bankrupt in 2018. The plant was expected to have a capacity of 3.5Mta when commissioned, but the construction works were never completed. To take the project to a successful completion, it is expected Akkermann Cement will have to spend at least RUB30bn. |