Cement News tagged under: corporate
Lafarge Africa Plc announces 1H21 group revenues of NGN145m18 August 2021, Published under Cement NewsLafarge Africa PLC (Holcim group) announced 1H21 group revenue of NGN145m (US$351.9m) with gross profits of NGN48m. In the 2Q21, group revenue reached NGN73.5m and gross profits amounted to NGN28.9m. Group cement sales totalled NGN71.5m in the 2Q21 and NGN141.4m in the 1H21. Meanwhile, Aggregates and concrete sales amounted to NGN2m in the 2Q21 and NGN145m in the 1H21. Lafarge Africa Plc has a cement production capacity of 10.5Mta in Nigeria. |
Cemix plant holds opening ceremony with President Putin in attendance18 August 2021, Published under Cement NewsLasselsberger Group recently held the opening ceremony for its Cemix greenfield 700tpd white cement production line in Russia. Sinoma-Tianjn Cement Industry Design & Research Institute (TCDRI) carried out the project on an EPC basis. Russian President Putin attended the opening ceremony. The Austrian Prime Minister sent a congratulatory video message. President Putin gave a speech, fully affirming the technological advancement of the white cement production line based on the BIM pl... |
Solidia Technologies appoints new CTO18 August 2021, Published under Cement NewsSolidia Technologies ® has named Russel Hill PhD as its new Chief Technology Officer. Mr Hill joins Solidia after 25 years with Boral, where he most recently served as Group Chief Innovation Officer. "Russell Hill brings a rare wealth of expertise and experience, and we are thrilled to add him to Solidia’s roster of talent," said CEO Bryan Kalbfleish."Russell's leadership will be invaluable as we fulfill Solidia’s mission to deliver the next generation of sustainable construction mat... |
Saudi Cement buys 37% share of United Cement17 August 2021, Published under Cement NewsSaudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amounted to SAR9.35m. UCIC, which was established in 2013, operates a 2Mta integrated cement plant ... |
Star Cement reports 50% growth in profit17 August 2021, Published under Cement NewsIndia’s Star Cement has seen its standalone net profit grow 50.4 per cent YoY in the quarter ending 30 June 2021, increasing to INR541.8m (US$7.3m) from INR360.3m. Net revenue was up 76.7 per cent YoY to INR5.04bn from INR2.86bn in the April-June quarter of the previous fiscal. |
Misr Cement (Qena) posts 9% profit increase17 August 2021, Published under Cement NewsEgypt’s Misr Cement (Qena) has recorded a 9.2 per cent YoY advance in consolidated net profit for the January-June period of 2021, rising to EGP69m (US$4.39m) from EGP63m in the 1H20. However, net revenue declined 4.7 per cent to EGP1.28bn from EGP1.34bn. The company has attributed the increase in profitability to improved efficiency and total exports, which climbed 316 per cent YoY to 169,000t from 41,000t in the first half of 2020. |
Eagle Cement announces 181% rise in net income17 August 2021, Published under Cement NewsPhilippines-based Eagle Cement has posted a 181 per cent YoY increase in net income to PHP3.7bn (US$73.08m) in the first half of 2021, against PHP1.32bn in the corresponding period of last year. Net sales also advanced 87 per cent to PHP11.06bn from PHP5.91bn in the 1H20. The company has attributed the results to higher sales volumes despite the decrease in the average selling price of cement per bag, which resulted from tight competition. |
Green Cement Inc appoints new CEO17 August 2021, Published under Cement NewsUSA-based Green Cement Inc has appointed Grant Quasha as its CEO, as the company embarks on an international expansion drive. Mr Quasha succeeds John T Preston, who will remain chairman of the board. Previously, Mr Quasha served as CEO and managing director of Paringa Resources, a junior mining company, and chief commercial officer of Wolverine Fuels. The company has been developing its PozzoSlag product as a low-carbon substitute for ordinary Portland cement and is now looking to expa... |
Sinai Cement records 1H21 net loss of EGP253m17 August 2021, Published under Cement NewsSinai Cement Co reported a standalone net loss of EGP252.666m (US$16m) in the 1H21, according to the company’s financial statements. This marked a YoY rise of three per cent when compared to a loss of EGP245.687m in 1H20. In June 2021, Sinai Cement’s ordinary general assembly approved selling its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share. |
JK Cement sees surge in consolidated net profit16 August 2021, Published under Cement NewsIndia’s JK Cement Ltd has reported a 282 per cent surge in consolidated net profit to INR1.9bn (US$25.61m) for the quarter ending 30 June 2021, compared with INR499.4m in the year-ago period. Revenue from operations was also up 70.6 per cent YoY to INR17.14bn from INR10.05bn. Overall cement volumes climbed 71 per cent YoY to 3.02Mt, with grey cement (including clinker) at 2.76Mt. |