Cement News tagged under: corporate
Kolos Cement sees 39% rise in turnover in 202107 April 2022, Published under Cement NewsMauritius-based Kolos Cement Ltd reported a turnover of MUR1.8bn (US$40.2m) in 2021, up 38.5 per cent from MUR1.3bn in 2020. However the company’s operating profit reached MUR161.5m, down 18.6 per cent from MUR198.4m in the previous year. In addition to the nationwide six-week lockdown due to the COVID-19 pandemic in 2021, the company also faced further challenges to the increased raw material costs as the rupee weakened and the cost of freight went up. The company expects 2022 to be equ... |
CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations06 April 2022, Published under Cement NewsTechnical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Nasdaq. Until then, both companies will remain operating independently, CSN said in a securities ... |
Holcim Argentina warns of gas shortage stopping kilns over winter06 April 2022, Published under Cement NewsHolcim Argentina’s CEO, Christian Dedeu, has warned that clinker production at its plants could come to a halt as he has no guarantee that there will be gas to fire the kilns this coming winter (June-August 2022). “We do not have guaranteed gas for the winter, which puts cement production at risk. The impact can be very strong for the construction activity,” said Mr Dedeu. Moreover, gas prices remain sky-high and the rise in production costs is difficult to offset. However, the company is ... |
Lehigh Hanson acquires Meriwether Ready Mix05 April 2022, Published under Cement NewsHeidelbergCement has announced that its North American subsidiary Lehigh Hanson Inc has acquired all assets of Meriwether Ready Mix, a leading producer of ready-mixed concrete with a well-established residential and commercial customer base in the Metro Atlanta area. The Metro Atlanta Area is a growing market with significant infrastructure projects planned in the coming years. The acquired assets include four ready-mixed concrete plants and a fleet of mixer trucks. “After th... |
New CFO for Power Cement05 April 2022, Published under Cement NewsPower Cement Ltd has appointed Irfan Sikandar Bawa as CFO with effect from 4 April 2022, succeeding Tahir Iqbal, according to the company’s filing to the Pakistan Stock Exchange. |
Titan Cement introduces digital transformation to Egyptian plants04 April 2022, Published under Cement NewsTitan Cement ’s in-house proprietary advanced analytics methodology has been successfully rolled out in the company’s two cement plants in Egypt , following the successful implementation in Titan’s cement plants in Greece. In close cooperation with Titan’s Digital Center of Competence and, after a deep ‘dive’ into 16 years of data, the company’s teams teams in Beni Suef and Alexandria cement plants have applied the methodology that enables the company to minimise the total cost of s... |
Yamama Cement signs SAR1.633bn financing agreement04 April 2022, Published under Cement NewsYamama Cement Co signed a Shariah-compliant financing agreement on 31 March for SAR1.663bn (US$435.4m) with Saudi National Bank, the cement producer said in a statement to the Tadawul. The agreement covers long-term financing of SAR800m, for a period of eight years (including three years of grace period), and refinancing part of the existing long-term loans amounting to SAR563m, for a period of four years to repay part of existing loans. It also includes short-term financing of SAR... |
Sinai Cement reports higher sales, narrow loss in 202104 April 2022, Published under Cement NewsEgypt-based Sinai Cement Co , owned by Vicat , reported a 61.9 per cent increase in sales to EGP1.44bn (US$78.8m) in 2021 when compared with 2020 when the company sold to a value of EGP889.2m. The company also narrowed its loss to EGP354m in 2021 from EGP560.3m in 2020. |
Votorantim Cimentos' regional results in 2021 reach almost record levels04 April 2022, Published under Cement NewsVotorantim Cimentos reported close to record growth in all regions for its performance in 2021 with total cement sales of 37.2Mt across all regions. “Our business strategy and recent acquisitions, combined with our resilience and operational excellence led us to achieve sales growth in all regions and to close the year with record results,” said Marcelo Castelli, global CEO of Votorantim Cimentos. In Brazil Votorantim Cimentos had net revenue of BRL10.3bn (US$2.1bn) in 2021, a ... |
Plycem invests US$3m in microconcrete sheet production04 April 2022, Published under Cement NewsPlycem ( Elementia Group ) has announced the investment of US$3m in its manufacturing plant located in Cartago. With this, it seeks the automation of a new production line for ‘microconcrete’ sheets in Costa Rica. Microconcrete consists of a sheet with a lower technical specification than the fibre cement sheets that the company already produces. It is a 12mm thick product, made with Portland cement, expanded polystyrene or stereophonic beads, and reinforcing mesh. In the country, self-... |