Cement News tagged under: corporate
Sephaku Cement experiences second kiln stoppage22 October 2021, Published under Cement NewsSouth Africa’s Sephaku Cement has experienced a further kiln stoppage, unrelated to the previous event announced on 30 September 2021. This second plant stoppage began on 16 October 2021 and is expected to finish on 26 October. The outage has been necessitated by the repair of kiln internals to prevent damage to major components. The kiln was inspected in previous maintenance stoppages and therefore, this damage was unexpected. However, a long-term solution to this issue has now been iden... |
Jan Jenisch elected GCCA president22 October 2021, Published under Cement NewsThe Global Cement and Concrete Association (GCCA) has announced the election of Jan Jenisch, CEO of Holcim, as its president. Mr Jenisch takes up the role with immediate effect and succeeds outgoing president, Albert Manifold, CEO of CRH. An experienced industry leader, Jan Jenisch was appointed CEO of Holcim (then LafargeHolcim) in 2017, having previously been CEO of Sika AG. In addition to his CEO role, he was elected to the Board of Directors of Holcim in 2021. As GCCA president, Jan Je... |
ACC reports 6% rise in EBITDA for the 3Q2120 October 2021, Published under Cement NewsIndia’s ACC has reported a 6.1 per cent YoY rise in EBITDA to INR7.12bn (US$95.03m) in the third quarter of 2021, compared to INR6.71bn in the year-ago period. Profit after tax advanced 23.6 per cent YoY to INR4.5bn from INR3.64bn. "ACC has recorded a solid performance during the quarter through operational excellence and a focus on sustainability while meeting customers’ needs. Despite a steep increase in fuel costs, our cost efficiency measures under project ‘Parvat’ have enabled us to m... |
NEQSOL Holding announces interest in Ivano-Frankivskcement20 October 2021, Published under Cement NewsNEQSOL Holding has announced its interest in expanding investment portfolio in Ukraine by entering the construction materials market. On 18 October 2021 the holding filed an application to the Antimonopoly Committee of Ukraine (AMCU) for the purchase of an equity stake in Ivano-Frankivskcement PJSC. The deal is at the final stage of negotiations with the current shareholders of Ivano-Frankivskcement PJSC. NEQSOL Holding already owns Norm Cement, a plant brought into operation in 2013,... |
UltraTech Cement records net sales of INR117,430m 2QFY2219 October 2021, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla group company, announced its financial results for the quarter ended 30 September 2021. Consolidated net sales was INR117,430m (US$1558m) compared to INR102,640m over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR28,550m compared to INR28,330m a year ago. Profit before tax was INR19,470m and profit after tax was INR13,140m compared to INR17,330m and INR13,090m, respectively. Coal and petcoke... |
Penna Cement receives approval for IPO19 October 2021, Published under Cement NewsIndia’s Penna Cement has received approval from the Securities and Exchange Board of India for its INR15.5bn (US$206.56m) initial public offering. The IPO includes a fresh issue of INR13bn and an offer for sale of up to INR2.5bn by promoter PR Cement Holdings, which holds a 33.41 per cent stake in the company. The fresh capital is expected to be used for the repayment of borrowings and to fund an expansion project. |
Ecocem opens low-carbon technology centre19 October 2021, Published under Cement NewsEcocem has opened a low-carbon R&D centre in Paris, France, to accelerate the development of low-carbon solutions that will support cement and construction industries to decarbonise more quickly. In its new Centre of Excellence, Ecocem will run industrial-scale trials in collaboration with trusted industry partners and universities, including Paris-Saclay University and The University of Toulouse. These will focus on testing and improving its new ultra-low carbon solutions which reduce th... |
Yamama Cement Co sees 32% decline in sales19 October 2021, Published under Cement NewsSaudi Arabia’s Yamama Cement Co has posted a 31.6 per cent YoY decline in sales to SAR170.7m (US$45.52m) in the quarter ending 30 September, compared to SAR249.65m in the year-ago period. Net profit was down 58.1 per cent YoY to SAR39.97m from SAR95.32m. In the first nine months of the year, sales fell 21.7 per cent YoY to SAR553.5m while net profit declined 36.1 per cent to SAR172.5m. |
Votorantim Cimentos completes Cementos Balboa acquisition18 October 2021, Published under Cement NewsBrazil-based Votorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, has announced the acquisition of Cementos Balboa. Cementos Balboa has a modern integrated cement plant located in Alconera, in the province of Badajoz, with an installed production capacity of 1.6Mta. With this facility, Votorantim Cimentos complements its current operations in Spain and expects to increase its operational efficiencies, accelerate its decarbonisation roadmap and enhance its distribution... |
Big Boss Cement reportedly suspends operations18 October 2021, Published under Cement NewsPhilippine-based Big Boss Cement has reportedly suspended business operations, according to a source for The Philippine Daily Inquirer. The shutdown, taken so the company can rehabilitate its production facilities, is expected to last until next year. Big Boss Cement had plans to double capacity to around 2.4Mta by 2020 and ordered a modular grinding plant last May . |