Cement News tagged under: corporate
JSW Concrete is established in Mumbai with its first unit22 June 2021, Published under Cement NewsJSW Cement, a part of US$12bnn JSW Group, has announced its entry into ready-mix concrete business under the brand name 'JSW Concrete'. It has set up its first production unit in Chembur, Mumbai, and has plans to expand the business to other locations. "The RMC business foray follows the green products ethos of JSW Cement and will launch unique eco-friendly concrete for use in various commercial construction projects," the company statement said. JSW Cement is now aiming to o... |
Lafarge Cement sees record sales in 202021 June 2021, Published under Cement NewsDespite the coronavirus pandemic in 2020 Czech-based producer Lafarge Cement reported a nine per cent YoY rise in sales to CZK1.55bn (US$72.1m) and pretax profit went up by 60 per cent to CZK555m. This represents the best income figure in its history, said Miroslav Kratochvil, who leads the LafargeHolcim subsidiary. The pandemic saw higher staff and operational cost. However, the increased expenditures were offset by savings, Mr Kratochvil said. Demand for building materials continues thi... |
Sinai Cement approves Sinai White Portland Cement exit21 June 2021, Published under Cement NewsSinai Cement Co approved the sales of its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share, according to a filing to the Egyptian Exchange. Sinai Cement Co held a general assembly on 17 June to ratify the business continuity of the company as well as its financial results for 2019 and 2020. It incurred a consolidated net loss before minority interests of EGP147.976m in the first quarter of 2021. |
Loma Negra to increase L'Amalí output to 4.9Mta21 June 2021, Published under Cement NewsFollowing the kiln lighting ceremony on Saturday, 18 June, Loma Negra’s expanded L’Amalí plant in Argentina, is set to start production on 26 June. The US$350m project will increase the plant’s production capacity by 2.7Mta to 4.9Mta with construction carried out by China’s Sinoma. “It is a milestone in the history of Loma Negra. I would like to thank everyone who was working on the site, workers, Sinoma and contractors. We have had and gone through economic and social difficulties and i... |
Moody's Investor Service upgrades Votorantim SA and Votorantim Cimentos21 June 2021, Published under Cement NewsMoody’s Investors Service has assigned an investment grade rating on a global scale to the holding company Votorantim SA and its portfolio company Votorantim Cimentos. Moody’s upgraded the rating of both companies from Ba1 to Baa3, with a stable outlook. “This is a recognition of the strength and consistency of our results, both in Brazil and abroad. Our company’s leverage is the lowest it has ever been for the past 13 years, and we are ready for new investment opportunities,” said Sergi... |
Les Ciments de Bizerte reports 7% revenue increase18 June 2021, Published under Cement NewsTunisia’s Les Ciments de Bizerte has reported a TND421,000 (US$152,235) net loss in the year ended 31 December 2020, against a TND9.4m net loss in the previous year. Revenue also advanced seven per cent YoY to TND111m from TND103.5m in 2019. Cement production saw a marginal increase from 661,829t to 663,491t in 2020, despite the production halt in March and April due to the pandemic lockdown. Sales prices also rose during the year, with a comparable level of sales despite the total closur... |
Sinai Cement sees net sales rise 34% YoY18 June 2021, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen to EGP147.97m (US$9.45m) in the first quarter of 2021, compared to EGP105.8m in the year-ago period. However, net sales increased 33.5 per cent YoY to EGP282.63m from EGP211.73m in the 1Q20. |
Flying Cement Co slates expansion to complete in 3QFY2218 June 2021, Published under Cement NewsFlying Cement Co Ltd (FCC) announced that its plant expansion in Mangowal, Kushab district of Pakistan's Punjab province is due to come online in the 3QFY22. The cement plant has an existing clinker production capacity of 4000tpd (Line I) and the company's Line II project will add a further 7700tpd to take total clinker production capacity to 11,700tpd. Out of the PKR10.2bn (US$64.8m) total projected cost for the expansion, FCC has already incurred PKR7bn. Taking into account the plant's ... |
Huaxin Cement plans US$160m investment in African expansion17 June 2021, Published under Cement NewsHuaxin Cement plans to spend US$160m to purchase cement factories in Zambia and Malawi to expand its presence in Africa, according to a company statement. Huaxin Hainan Investment wants to buy a 75 per cent stake in Lafarge Zambia from French cement maker Financière Lafarge, which isa major shareholder in Huaxin through its subsidiary Dutch finance firm Holchin, for US$112.5 m, said the Chinese cement company. It will also make compulsory cash offers to public stakeholders to buy up th... |
Nexe Grupa invests in production capacity17 June 2021, Published under Cement NewsCroatia’s Nexe Grupa reportedly invested HRK115m (US$18.6m) last year to boost the production capacity and energy efficiency of its plants, with further plans for development this year. In particular, its cement subsidiary targeted both capacity expansion and the increased usage of alternative fuels during the year. "These are just some of the important project that we will follow also in 2021, which we enter with a reduced overall debt of the group and lower costs of financing thanks to ... |