Cement News tagged under: corporate
Schenck Process Group appoints Advisory Board chairman26 April 2021, Published under Cement NewsSchenck Process Group has appointed Dr Ulrich Spiesshofer as chairman of its Advisory Board, effective from 1 May 2021. Dr Spiesshofer brings three decades of executive management, transformation, active portfolio management and operational expertise, across many sectors, including industry, energy and infrastructure in Europe, the Americas, Asia, the Middle East and Africa. Most recently, he served as CEO of the group from 2013 to 2019 and was a member of the Executive Committee ... |
LafargeHolcim sees net sales rise 7% in 1Q2123 April 2021, Published under Cement NewsLafargeHolcim recorded a record start to 2021, led by net sales improving by 7.4 per cent and an increase in recurring EBIT of 130.7 per cent compared to the prior year period, both on a like-for-like basis. Cement volumes grew by 5.6 per cent for the group and ready-mix concrete volumes increased by 2.2 per cent, while aggregates volumes decreased by four per cent, all on a like-for-like basis. Cement sales totalled 47.3Mt compared to 44.9 per cent in the 1Q20. Aggregate sales tota... |
Arabian Cement faces mill project delay at Rabigh plant23 April 2021, Published under Cement NewsArabian Cement Co said its new cement mill project at the Rabigh plant has been delayed by 150 days and will now be completed in the 4Q21. The delay was due to contractor China National Building Materials Corp being unable to travel to Saudi Arabia to complete the installation and commissioning work because of coronavirus travel restrictions. |
Yanbu Cement sees revenue increase 5%23 April 2021, Published under Cement NewsSaudi Arabia’s Yanbu Cement has reported a 5.4 per cent rise in revenue to SAR292.4m (US$77.97m) for the first quarter of 2021, compared to SAR277.4m in the year-ago period. However, the company’s net profit declined 20.4 per cent YoY to SAR73.39m from SAR92.23m in the 1Q20. Despite the increase in revenues due to improved sales, a decline in the average selling price and the accompanying increase in the cost of sales led to the fall in net profit. |
CRH to change name of subsidiary to Romcim23 April 2021, Published under Cement NewsCRH will change the name of its Romanian subsidiary to Romcim from 5 May. The name change is in keeping with the group’s strategy to operate trusted local brands in each of its markets, according to a press release. "Romcim is an iconic brand in the Romanian construction industry and feels like ‘family’ for generations of home builders, employees and the communities we operate in. Romcim is in our company’s DNA and is a solid foundation for the sustainable contribution we want to make to bu... |
LafargeHolcim looks to divest Brazilian assets22 April 2021, Published under Cement NewsLafargeHolcim is reportedly exploring the sale of its Brazilian unit, which consists of 12 plants, according to people close to the matter. The company has hired Banco Itau BBA to advise on the potential divestment, which could bring in as much as US$1.5bn. The divestment could be made to one buyer or assets could be split. Under CEO Jan Jenisch, the company has been selling off assets that do not contribute to core operations as the company seeks to reduce debt levels. Earlier sell-off... |
Moody Investors Service upgrades HeidelbergCement's rating22 April 2021, Published under Cement NewsMoody’s Investors Service has upgraded HeidelbergCement’s long-term issuer rating to Baa2 from Baa3. Concurrently, the rating agency has upgraded the backed short term rating to (P)P-2 from (P)P-3. The rating outlook is stable, claims Heidelbergcement. As rationale behind the rating upgrade, Moody’s particularly highlighted HeidelbergCement’s resilient performance throughout 2020, its strong cash flow generation as well as its conservative financial policy including its commitment to k... |
Yamama Cement to move 10,000tpd kiln line to new site21 April 2021, Published under Cement NewsYamama Cement Co’s board of directors decided, in a meeting on 19 April 2021, to transfer and install the No 7 line from the company’s old production site in the south of Riyadh to the new plant location in Northern Halal in Al-Kharj governorate of the Riyadh region. The company said in a bourse statement that this comes in line with Saudi Arabia’s Vision 2030 to keep pace with development projects. The production capacity of the line is 10,000tpd. Therefore, by the end of 2024, t... |
Power Cement posts surge in revenue21 April 2021, Published under Cement NewsPakistan’s Power Cement has seen its revenue surge 341 per cent to PKR10.96bn (US$71.39m) in the nine-month period ended 31 March, compared to PKR2.65bn in the year-ago period. Its profit after tax reached PKR110.5m against a PKR1.75bn loss in the 9MFY19-20. In the 3QFY20-21 revenue advanced to PKR4.1bn from PKR1.39bn, while profit after tax returned to PKR41.68m from a PKR1.38bn loss in the 3QFY19-20. |
Yanbu Cement provides update on line modernisation21 April 2021, Published under Cement NewsSaudi Arabia-based Yanbu Cement Co has delivered an updated related to its project which required the shutdown of its fourth line in February. The line modernisation has reached 90 per cent completion, but the project’s expected 60-day timeline has been affected by a delay in receiving spare parts. The company has stated that the financial impact will be limited to the increase in production costs incurred since the shutdown date. Sales are not expected to be impacted due to its sufficie... |