Cement News tagged under: corporate
Solid Cement advances US$323m expansion15 February 2022, Published under Cement NewsPhilippines-based Solid Cement Corp , part of Cemex Holding Philippines, will finally move forward with its long-delayed capacity expansion despite the rise in cost from US$235m to US$323m. The project will see the construction and installation of a new 1.5Mta integrated production line at the plant’s Antipolo City plant in Rizal. Principal contractors to the project will be Atlantic Gulf and Pacific Co of Manila Inc and Betonbau Philippines Inc. The plant is scheduled to come online i... |
San Miguel Cement may double capacity at Davao plant14 February 2022, Published under Cement NewsSan Miguel Corp (SMC) said its affiliate Southern Concrete Industries Corp may look to double the manufacturing capacity of its new Davao cement plant . Southern Concrete Industries Corp, formerly Oro Cemento Industries Corp, is considering doubling its manufacturing capacity to 100m bags per year, it said in a disclosure to the stock exchange. SMC president and CEO, Ramon Ang, earlier said the increase in manufacturing capacity of Southern Concrete "will reduce the dependence... |
CMS raises cement price due to higher costs14 February 2022, Published under Cement NewsMalaysia-based CMS is introducing a 10 per cent price hike from 17 February, the first one since 2016, according to Market Screener. The company attributes the need to raise prices to significant and sustained increase raw materials, packaging and freight costs. In the last year, cement production costs have increased by nine per cent and show no signs of abating yet. The Baltic Dry Index has shown a rate rise of 64 per cent in 2021 while the sack kraft paper index was up 33 per cent in ... |
Argos opens new Cartagena terminal14 February 2022, Published under Cement NewsColombia-based Argos has inaugurated its new port terminal in the free zone of Cartagena, Colombia. the new terminal will triple its export capacity to 3.5Mta. The terminal can serve vessels of up to 60,000t. The company invested nearly US$42m in the new terminal, which includes a berthing platform of 152m long by 18m wide that joins the coast by a 170m-long civil walkway. It also consists of closed conveyor belts with a capacity to transport 1200tph of cement and 900tph of clinker from ... |
Chryso appoints new group executive vice-president14 February 2022, Published under Cement NewsFrédéric Guimbal has been appointed Chryso Group Executive Vice-president in charge of Markets, Innovation, Purchasing and Communications. Mr Guimbal led the Concrete business Unit at Chryso in 2021 and now joins the Chyrsos’ Comex team. Frederic Guimbal brings 17 years of industry experience in cement and concrete, being close to the field, and having managed these activities in various geographies both in mature end emerging countries. |
Cemex reports double-digit EBITDA growth in FY2111 February 2022, Published under Cement NewsCemex announced strong results for the FY21 with double-digit EBITDA growth, the highest in more than a decade, coupled with a similar increase in sales, driven by higher volumes and robust pricing in all core products in all regions. EBITDA margin increased 0.8 percentage points in the year, despite headwinds in energy and import costs. CO 2 emissions declined 4.4 percentage points, the largest annual decline the company has ever achieved. Net sales increased 14 per cent to US$14... |
Flender to acquire Moventas11 February 2022, Published under Cement NewsFlender has reached an agreement to acquire Finnish wind turbine gearbox manufacturer Moventas from investor N4 partners. The planned acquisition marks the next step in Flender’s growth strategy after progressing into independence last year. Integrating Moventas’ engineering and service capabilities will further foster Flender’s wind drives business under the successful Winergy product brand. The acquisition is still subject to approval by authorities and is expected to close in summer 20... |
Buzzi Unicem FY21 preliminary regional results see 7% rise in cement sales10 February 2022, Published under Cement NewsCement sales of the Buzzi Unicem group amounted to 31.2Mt in 2021, increasing by 6.7 per cent when compared to 2020. Ready-mix concrete output, which stood at 12.1Mm 3 , was also up, by 3.4 per cent, compared to the volumes of last year. Consolidated net sales for the financial year increased from EUR3222.4m to EUR3445.6m. The sales volumes achieved by the group in 2021 exceeded the level of those reached in the previous year, thanks to the progress recorded in Italy, the USA and easter... |
Tokyo Cement (Lanka) reports 20% increase in revenues10 February 2022, Published under Cement NewsTokyo Cement Group reported a 20 per cent advance in its turnover to LKR13.771bn (US$68.1m) for the third quarter ended 31 December 2021 when compared with LKR11.456bn in the 3QFY21-22. Profit for tax during the 3QFY21 grew by 38 per cent YoY to LKR1.986bn in the 3QFY21-22. Profit after tax reached LKR1.649bn, up from LKR1.303bn in the 3QFY20-21. However, sales volumes fell by three per cent as the company saw shortfalls in the supply chain, including the breakdown of a cement mill for m... |
Cemex signs up companies to its Working Smarter digitalisation program10 February 2022, Published under Cement NewsCemex has signed separate multi-year contracts that range from five to seven years totalling US$500m with six leading service providers under its Working Smarter digital transformation initiative. The partners are active in the fields of finance and accounting, information technology, and human resources, replacing current expenditures with the new suppliers’ services at an optimised cost, effectively continuing to reduce the company’s operating expenses. The initiative brings all wo... |