Cement News tagged under: corporate
HeidelbergCement sells southern Spanish assets to Votorantim11 November 2021, Published under Cement NewsAfter having announced to sell regional businesses in Catalonia, Madrid, Asturias and on the Balearic Islands, HeidelbergCement now signed a contract to sell its southern Spain business to Votorantim Cimentos. The sale includes the 1.4Mta integrated cement plant in Malaga, three aggregate sites, and 11 ready-mixed concrete sites in Andalusia. Both companies have agreed not to disclose the purchase price. "With this transaction, Votorantim Cimentos strengthens its business in Sp... |
Votorantim Cimentos sees net income rise by 57 per cent in 3Q2111 November 2021, Published under Cement NewsVotorantim Cimentos posted net income of BRL1.1bn (US$200.5m) in the 3Q21, an increase of 57 per cent over the same period last year. The company had global net revenue of BRL6.4bn in the 3Q21, an increase of 24 per ent compared to the 3Q20, primarily due to an increase in sales volume and favourable price dynamics. Votorantim Cimentos' global cement sales totalled 10.4Mt in the 3Q21, a seven per cent increase compared to the 9.7Mt sold in the 3Q20. Votorantim Cimentos ended... |
FLSmidth sees 22% rise in revenue11 November 2021, Published under Cement NewsFLSmidth has reported a 22 per cent YoY increase in revenue to DKK4660m (US$718.8m) in the third quarter of 2021, compared to DKK3834m in the 3Q20. EBITA advanced 72 per cent to DKK305m from DKK177m, while EBITA margin reached 6.5 per cent from 4.6 per cent. Including currency effects, order intake increased by 15 per cent YoY to DKK4549m against DKK3955m in the year-ago period. “Third quarter saw strong momentum in order intake. In particular for service orders, as activity in the min... |
Eagle Cement Corp announces 89% advance in profit11 November 2021, Published under Cement NewsPhilippine-based Eagle Cement Corp has seen its net profit surge 89 per cent to PHP5.1bn (US$101.76m) in the first nine months of 2021, against PHP2.7bn in the comparable period of last year. Net sales advanced 63 per cent YoY to PHP16.2bn, which has been attributed to a double-digit growth in volumes despite the average selling price of cement declining. “We are pleased to report an encouraging set of results amid the pandemic, much lower cement prices and increasing input costs,” sai... |
CIMAF to expand capacity with IFC, Proparco and EAIF financing11 November 2021, Published under Cement NewsCIMAF will receive financial support from IFC, Proparco and the Emerging Africa Infrastructure Fund (EAIF) to help its drive for capacity expansion to meet the growing demand for housing and infrastructure in west Africa. IFC is providing a EUR161.25m financial package for CIMAF, which includes a EUR92.5m loan on its own account as well as a parallel loan of EUR33.75m from Proparco and a EUR35m B loan from the EAIF. The finance package will enable CIMAF to expand its existing cement grind... |
Nuvoco records group revenues of INR2000m in 2QFY21-2211 November 2021, Published under Cement NewsNuvoco Vistas Corp Ltd (Nuvoco) announced its unaudited financial results for the quarter ended 30 September 2021 with consolidated revenue from group operations (including NU Vista Ltd) reaching at INR20,200m (US$26.89m). Consolidated EBITDA margin stood at 17 per cent. Commenting on the results, Jayakumar Krishnaswamy, MD of Nuvoco Vistas Corp Ltd, said, “In spite of the challenging market conditions in our major operating market of East, we were able to achieve volumes at par as compar... |
Sika to acquire MBCC Group11 November 2021, Published under Cement NewsSika has agreed to acquire MBCC Group, formerly BASF Construction Chemicals, from an affiliate of Lone Star Funds for CHF5.5bn (EUR5.2bn). Germany-based MBCC Group is a leading supplier in construction chemicals worldwide with operations in over 60 countries and more than 130 production facilities. In 2021 the group was forecast to generate net sales of CHF2.9bn. According to Sika, the acquisition will compliment and broaden its product and solution offerings in four out of five of its co... |
Taiwan Cement sees revenue up 1% in October10 November 2021, Published under Cement NewsTaiwan Cement has seen a modest one per cent YoY increase in October revenue to TWD9.57bn (US$344.8m) compared to TWD9.47bn in the year-ago period. In the first 10-months of the year, revenue was up 0.7 per cent to TWD86.47bn from TWD85.9bn. |
Hsing Ta Cement records 16% decline in revenue10 November 2021, Published under Cement NewsTaiwan’s Hsing Ta Cement has seen a 16.4 per cent YoY decline in October revenue to TWD660.62m from TWD789.78m in the same month of 2020. In January-October 2021, revenue was down 3.1 per cent YoY to TWD5.82bn from TWD6bn. |
Buzzi Unicem records 9M21 cement sales of 23.4Mt09 November 2021, Published under Cement NewsBuzzi Unicem SpA has reported a 7.5 per cent rise in cement sales volumes in the first nine months of 2021, increasing to 23.36Mt from 21.72Mt. Consolidated net sales stood at EUR2541.7m (US$2938m), up 5.6 per cent against EUR2408m in the 9M20. The unfavourable variances in exchange rates had an impact of EUR85.2m. On a like-for-like basis, turnover would have increased by 9.1 per cent, according to the group. During the summer quarter, the performance of demand was favorable especiall... |