Cement News tagged under: corporate
Votorantim Cimentos starts operating new Pecém line21 July 2021, Published under Cement NewsVotorantim Cimentos has announced the start of operation of a new production line at its cement site in the Pecém Industrial and Port Complex, in the state of Ceará, Brazil. As a result of this expansion, the unit now has a production capacity of approximately 1Mta of cement. The volume produced in the new site will enhance the supply of the metropolitan area of Fortaleza. Votorantim Cimentos invested approximately BRL200m (US$38.26m) in the project. During construction and start of opera... |
Taiwan Cement Corp completes majority acquisition of Engie EPS21 July 2021, Published under Cement NewsTaiwan Cement Corp has finalised the acquisition of a 60.48 per cent share of Italy-based energy storage company Engie EPS SA on 20 July 2021, at a price of EUR17.10 per share and a total investment of EUR132m. The new company name, New Horizons Ahead (NHOA), also came into effect. According to Bloomberg New Energy Finance (BNEF), after the acquisition of NHOA, TCC will be in fourth place in global energy storage power output and become a major supplier of high-end electric vehicle (EV) c... |
CSN postpones IPO21 July 2021, Published under Cement NewsBrazilian cement and steelmaker CSN has postponed an initial public offering (IPO) of its cement unit which was expected to be launched in the coming days, newspaper Valor Economico has reported. CSN Cimentos had already filed a preliminary prospectus for the IPO, but it had not disclosed the amount to be raised, price per share, or a timing for the sale. Valor said CSN had decided to halt the IPO due to recent volatile market conditions, amid the spread of the new COVID-19 Delta ... |
ACC Ltd records 2Q21 profits after tax of INR5.69bn20 July 2021, Published under Cement NewsACC Ltd (Holcim group) has reported 2Q21 profits after tax of INR5.69bn (US$76m) up from INR2.71bn in 2Q20. In the April-June 2021 period under review, ACC Ltd recorded an EBITDA of INR8.69bn and net sales of INR38.1bn. Profit before tax reached INR7.58bn in the 2Q21, up from INR4.03bn in 2Q20. Sales volumes of cement reached 6.84Mt in the 2Q21, up from 4.76Mt in the 2Q20. Half-year sales volumes of cement reached 14.81Mt, up from 11.32Mt in the same period last year. Sridhar Bala... |
Carthage Cement posts 61% rise in turnover20 July 2021, Published under Cement NewsTunisia’s Carthage Cement has posted a 61 per cent YoY rise in turnover to TND163.8m (US$59.09m) for the first half of 2021, against TND102m in the same period of last year. Clinker production increased 99 per cent to 829,000t and cement production was also up 48 per cent to 612,000t in the second quarter of 2021. Local market turnover in the 2Q21 advanced 69 per cent YoY to TND123m. Revenue from cement exports reached TND17m during the 1H21, up from TND0.7m in the year-ago period. |
Cementos Pacasmayo posts 286% rise in revenue20 July 2021, Published under Cement NewsPeru's Cementos Pacasmayo has seen its revenue increase 285.7 per cent YoY to PEN440.9m (US$111.64m) in the second quarter of 2021, compared to PEN114.3m in the year-ago period. Consolidated EBITDA also surged to PEN90m from a PEN5.7m loss in the 2Q20. Sales volumes of cement, concrete and precast increased 257.2 per cent YoY to 847,700t, mainly due to the continued increase in sales of bagged cement and to the halt in commercialisation during the 2Q20. If compared to volumese in the 2Q19... |
Matsiloje Portland Cement could reopen by year end20 July 2021, Published under Cement NewsMatsiloje Portland Cement (MPC), one of only two homegrown cement producers in Botswana, is considering a return to production by the end of the year following its closure in 2018. Managing Director, Rachit Josh, told BusinessWeek the company was ‘very optimistic’ it could resume operations and was currently in talks with a reputable investor with a view of entering into a partnership to re-open the plant. "I cannot comment on what the exact situation is regarding the plant, but a... |
Mangalam Cement sees 57% rise in sales19 July 2021, Published under Cement NewsIndia’s Mangalam Cement has reported a 57.1 per cent rise in sales to INR3.55bn (US$47.52m) in the quarter ending June 2021, compared to INR2.26bn in the year-ago period. Net profit also increased 189.4 per cent YoY to INR399.4m from INR138m in the corresponding period of the previous fiscal. |
Shree Cement to open 3Mta Pune grinding plant in September19 July 2021, Published under Cement NewsShree Cement's 3Mta clinker grinding unit at Patas, Pune district in Maharashstra, India, is now expected to be completed soon with commercial production to commence in September, according to company official. The western Indian expansion, which sits on a 26.6ha plot, had been delayed due to the impact of the COVID-19 pandemic and right-of-way issues. The project, which represents an investment of over INR6bn (US$80.39m), will receive clinker from its group plant in Karnataka. In 2020... |
Yanbu Cement posts 23% rise in revenue16 July 2021, Published under Cement NewsSaudi Arabia’s Yanbu Cement Co has reported a 11.1 per cent YoY fall in net profit to SAR115.23m (US$30.73m) in the first half of 2021, compared to SAR129.56m in the year-ago period. Revenue advanced 23 per cent YoY to SAR535.09m from SAR434.33m in the 1H20. In the second quarter of the year, net profit increased 12 per cent YoY to SAR41.83m while revenue climbed 54.6 per cent to SAR242.69m in the 2Q21. |