Cement News tagged under: corporate
Fitch revises Votorantim Cimentos' outlook to stable05 May 2021, Published under Cement NewsFitch Ratings has affirmed Votorantim Cimentos SA's (VCSA) Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB-' and revised the rating outlook to ‘stable’ from ‘negative’. The change in outlook mirrors that made to VCSA's ultimate parent, Votorantim SA (VSA). VCSA accounted for 55 per cent of VSA's EBITDA during 2020 and 46 per cent of its debt. These figures compare with 45 per cent of EBITDA in 2019 and 53 per cent of the group's debt. Fitch noted that: "Although there ... |
Hoffmann Green Cement Technologies signs Swiss contract05 May 2021, Published under Cement NewsFrance-based Hoffmann Green Cement Technologies announced the signing of its first international contract with a Swiss player, the Maulini Construction Group. From 2021, Hoffmann Green will supply the Maulini group with its clinker-free low-carbon cement based on its H-UKR technology to enable it to undertake major construction work in Switzerland, including the Chêne-Blanc project, a six-villa real-estate project in Onex, just outside Geneva. The first pours of concrete made from Hoffmann... |
Votorantim Cimentos commences McInnis Cement integration04 May 2021, Published under Cement NewsVotorantim Cimentos, the seventh largest cement producer in the world, and Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, have announced that they have completed the transaction to combine cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the United States, St Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos can now commence with the integration process... |
Republic Cement expects domestic demand recovery04 May 2021, Published under Cement NewsRepublic Cement of the Philippines has said the domestic cement industry is on course to return to pre-pandemic levels this year as home builders support sales, amid lower demand from the infrastructure and non-residential sectors. In the first quarter of this year the company's income amounted to PHP334m (US$6.95m), 446 per cent higher YoY, due to a rise in sales volume arising from new cement capacities in Bulacan and Iligan, alongside reduced costs and increased overall efficiency. "W... |
Oman Cement puts US$250m project on hold04 May 2021, Published under Cement NewsOman Cement Co has reportedly put its US$250m Duqm plant project on hold, pending confirmation of fuel availability. "The company's decision to set up a new cement plant at Duqm with a capacity of 5000tpd of clinker has currently been put on hold pending confirmation of the availability of fuel and its strategic decision to expand capacity of its existing plant in Muscat," said the company. In March, the company had received bids from EPC contractors and appointed a project consultant fo... |
NCL Industries receives approval for 110tph project04 May 2021, Published under Cement NewsIndia’s NCL Industries has received board approval to set up a 110tph cement grinding and packing facility at its third line in Mattapalli, Telangana. The project represents an investment of INR1.05bn (US$14.2m). It is expected to be completed within 18 months of the date of its financial closure. |
PPC sells lime operations to Kgatelopele Lime04 May 2021, Published under Cement NewsSouth Africa’s PPC has announced the sale of its lime operations to Kgatelopele Lime for ZAR515m (US$35.5m). The net proceeds from the divestment are part of PPC’s capital restructuring programme, with the net proceeds set to be used to de-gear its South African balance sheet. "This divestment from our lime assets, which we consider non-core to our business, is timely and plays a vital role in our capital restructuring strategy to reduce our South African debt. This will support the South ... |
Nigerian cement volumes climb to record levels for Dangote in 1Q2103 May 2021, Published under Cement NewsDangote Cement's Nigerian operations sold over 4.9Mt, including exports, up 22.2 per cent on the 4Mt sold in 1Q20. This represents the highest quarterly volume sold from the company's Nigerian operations. When looking at the domestic sales alone, our Nigerian operations sold 4.8Mt, up 18.7 per cent YoY. While the company's ex-factory prices have remained stable since the end of 2019, revenues for Dangote’s Nigerian operations increased by 33.7 per cent to NGN239.7bn. In Nigeria, Dango... |
Cemex Panamá to produce low-carbon general-purpose cement03 May 2021, Published under Cement NewsCemex Panamá announced it will be producing its first low-carbon cement as part of its Cementos Vertua general-purpose cement product range. Cementos Vertua’s CO 2 emissions are up to 40 per cent lower than conventional cements while preserving its technical properties and maintaining the Cemex standards of quality. “We recognise that construction in the future must be balanced with its environmental effects and that these challenges are met by collaborating with our clients and stakeho... |
Dangote Cement records robust EBITDA growth in 1Q2103 May 2021, Published under Cement NewsDangote Cement Plc announced group revenues of NGN332.7bn (US$874.4m) in the 1Q21, up 33.5 per cent. Group EBITDA rose by 55.8 per cent to NGN178bn, while Pan-African EBITDA reached NGN23.7bn, an increase of 61.9 per cent. Profits after tax increased by 48.1 per cent to NGN89.7bn. Dangote Cement's group sales volumes rose by 18.7 per cent to 7.5Mt and Nigerian volumes increased by 22.2 per cent to 4.9Mt. Pan African volume growth saw double-digit growth of 12.8 per cent. "The first ... |