Cement News tagged under: corporate
CSN requests IPO for cement division20 May 2021, Published under Cement NewsAfter the recent IPO of its mining arm, Brazilian steelmaker CSN is now looking to list shares of its cement division. The company requested authorisation from securities regulator CVM for the IPO of CSN Cimentos, although it did not provide further details. Cement sales in Brazil increased 20.8 per cent in the first four months of the year to 20.5Mt, according to preliminary figures from industry association SNIC. "The consumption of cement by infrastructure projects is medium and ... |
Sephaku Cement CEO passes20 May 2021, Published under Cement NewsThe death of Peter Fourie, Sephaku Cement (Dangote Cement South Africa) CEO, was announced on Wednesday. Mr Fourie had suffered a stroke a week earlier and had been admitted to hospital but did not recover. The board said: "It is with deep sadness that the board of directors announces the passing away of Pieter Fourie early this morning... Pieter was part of the SepHold founding management who dared to disrupt the long-standing cement industry oligopoly in 2005." SepHold Board Cha... |
Taiwan Cement records 11% rise in revenue18 May 2021, Published under Cement NewsTaiwan Cement has reported a 11.3 per cent rise in revenue to TWD22.04bn (US$789.3m) for the first quarter of 2021, while its net income advanced 10.6 per cent YoY to TWD3.32bn on the back of profit growth in Taiwan and Europe’s cement businesses. Despite weak sales prices in the mainland China cement business in the 1Q21, sales prices have been increasing steadily since April. In Taiwan’s cement and ready-mix concrete market, due to strong infrastructure and property demand, the gross marg... |
Orient Cement reports INR99.87bn net profits18 May 2021, Published under Cement NewsOrient Cement Ltd (CK Birla group) has reported an over two-fold jump in net profit at INR99.87bn (US$1.36bn) in the fourth quarter ended March 2021. It had posted a net profit of INR44,060m for the January-March quarter a year ago. Its revenue from operation rose 27.06 per cent to INR831,610m during the quarter as against INR654.520m in FY4Q2020 For the fiscal year 2020-21, Orient Cement’s net profit rose to 214,180m It was INR86,580m in the previous year. |
Construction sector reports Jamaican cement shortage17 May 2021, Published under Cement NewsMembers of the construction industry in Jamaica are reporting a cement supply shortage, as the country reaches its peak demand season. According to the Jamaica Observer, a hardware dealer on the south coast noted that it may have to cut staff if the shortage continues, adding that there has also been a hike in the price of construction materials. "What has been happening over the past two weeks is there has been unprecedented demand for cement, but we have been supplying the market. And, ... |
FLSmidth receives SBTi validation of its carbon emission targets17 May 2021, Published under Cement NewsFLSmidth has received validation from the Science Based Targets initiative (SBTi) for its carbon emission reduction targets. By implementing its MissionZero programme to achieve these targets, the company will help keep global warming below 1.5°C at the same time as delivering solutions to help reduce global CO 2 emissions by more than 10 per cent – and becoming carbon neutral in its own operations by 2030. Commenting on the targets, CEO Thomas Schulz says: “I truly believe that the g... |
Penna Cement refiles for IPO17 May 2021, Published under Cement NewsIndia’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up was... |
Loma Negra posts 35% revenue surge14 May 2021, Published under Cement NewsArgentina’s Loma Negra has seen its net revenue surge 35.4 per cent YoY to ARS13,175m (US$143m) in the first quarter of 2021, against ARS9734m in the year-ago period, mainly on the back of strong results from its cement segment. Consolidated EBITDA advanced 49.6 per cent YoY to ARS4730m, while its margin climbed to 35.7 per cent from 32.3 per cent. Net profit was up 104.4 per cent from ARS1256m to ARS2568m. "We started the year in a very good shape, with a solid operating cashflow generat... |
Titan Group records increased 1Q volumes in the US and Greece14 May 2021, Published under Cement NewsTitan's 1Q21 regional results saw strong volume growth in the US, particularly in the Mid-Atlantic region, while the domestic market of Greece also had encouraging results with cement sales increasing on 1Q20. Solid price trends in the US testified to the pent-up demand and a more confident restarting of activity that reflects the economy's robust growth. Demand was stable in Florida, with divergent trends depending on geographies, while even a slow recovery was witnessed in New York, whi... |
Universal Cement sees 15% rise in revenue14 May 2021, Published under Cement NewsTaiwan’s Universal Cement Co has posted a 14.9 per cent YoY rise in revenue to TWD1.44bn (US$51.51m) in the first quarter of 2021, compared with TWD1.25bn in the year-ago period. Net profit also surged to TWD229.47m from TWD46.21m in the 1Q20, while pre-tax profit increased to TWD258.73m from TWD50.58m. |