Cement News tagged under: corporate
CimMetal to expand into Togo's cement market21 April 2021, Published under Cement NewsIn September 2020 Cim Métal Group’s CEO Inoussa Kanazoé started marketing cement from its Togolese subsidiary. Already active in Burkina Faso with CimFaso and Cimasso, as well as in Côte d’Ivoire with CimIvoire, CimMetal is now turning attention to Togo. The establishment of the Lomé plant with a cement capacity of 2.5Mta, representing an investment of CFA65bn (US$125m) , will see the installation of Gebr Pfeiffer milling technology. The Banque Ouest-Africaine de Développeme... |
ACC reports 74% rise in profit for the 1Q2120 April 2021, Published under Cement NewsIndia's ACC (LafargeHolcim) has reported a 74 per cent rise in net profit for the first quarter of 2021, rising to INR5.63bn (US$75.33m) from INR3.23bn in the year-ago period. EBITDA also advanced 47 per cent YoY to INR8.6bn. Revenue from sales surged 23 per cent YoY to INR42.13bn from INR34.33bn in the 1Q20. In particular, cement sales increased 22 per cent YoY to 8Mt and cement prices were up six per cent to INR4876/t. As a result of its strong performance, the company has recorded its... |
Breedon reports strong trading in 1Q2120 April 2021, Published under Cement NewsBreeding announced encouraging trading in the first three months of the year. There was good demand in the GB market, where the business benefitted from contributions from the Cemex acquisition, combined with a robust cement performance, which more than offset the impact of COVID-19 restrictions limiting construction activity in the Republic of Ireland. Overall, group revenues in the first three months of the year were approximately GBP264m, an increase of 27 per cent compared with the ... |
INFORM forms joint venture with Chilean partner20 April 2021, Published under Cement NewsI NFORM , an internationally-known software development and business process optimisation specialist with US regional headquarters in Atlanta, Georgia, has set up a joint venture with its Chilean partner, Workforce Solutions SpA. The new company has officially been operating as Indorm Software SpA since 12 April 2021. The aim is to continue the over 50 year-long success story of I NFORM 's Digital Decision Making technology based on Operations Research and Artificial Intelligence... |
Twiga Cement to expand production capacity19 April 2021, Published under Cement NewsTanzania Portland Cement (Twiga Cement) has announced its intention to invest US$15m in an expansion and rehabilitation programme in 2021, according to the Tanzania Daily News. For the past 10 years, the factory has been producing 1.2Mta of cement, but it has currently increased capacity to about 2Mta. "Twiga Cement is doing well and we are happy for that, they have also thanked the government for better business environment despite the fact that there are small policy challenges which... |
Brazilian Companhia Nacional de Cimento completes the purchase of CRH Brasil assets19 April 2021, Published under Cement NewsThe Brazilian antitrust authority, CADE, in accordance to the agreement disclosed on 26 October 2020, has confirmed Brazilian Companhia Nacional de Cimento’s (CNC) purchase of all the businesses of the CRH group operating in Brazil (CRH Brasil and its subsidiaries). CNC is a wholly-owned subsidiary of BCPAR, holding company in which Buzzi Unicem owns 50 per cent of the share capital in a joint venture with Grupo Ricardo Brennand. The consideration paid takes into account the price originall... |
Shareholders approved Fancesa restructuring19 April 2021, Published under Cement NewsBolivia-based Fancesa’s shareholders have unanimously approved the restructuring proposed by the company’s Board of Directors, said Armin Cortez, chairman of the Board of Shareholders. Mr Cortez explained that the project includes a restructuring in the administration and “in the management of human resources”, in addition to other elements such as the internal business relationship between the companies “that are managed separately but that correspond to the same owner, which is Fancesa.”... |
Malayan Cement Bhd to repay borrowings with share placement16 April 2021, Published under Cement NewsMalayan Cement Bhd is expected to raise MYR226.95m (US$55m) mainly to repay bank borrowings via a proposed placement of up to 85m shares, representing 10 per cent of the company's issued shares as of 14 April 2021. The total fund is based on the illustrative issue price of MYR2.67 per placement share, said Malayan Cement. Malayan Cement said MYR53.93m out of the total proceeds would be used for working capital, MYR170m will be used to repay bank borrowings, and MYR3m to defray estimate... |
S&P Global raise HeidelbergCement's credit rating16 April 2021, Published under Cement NewsS&P Global Ratings raised HeidelbergCement’s long- and short-term issuer credit ratings to BBB/A-2 from BBB-/A-3 and the issue ratings on its debt to BBB from BBB-, while giving a stable outlook. As rationale behind the rating upgrade, S&P highlighted HeidelbergCement’s ability to significantly reduce its debt in 2020, despite the COVID-19 pandemic, thanks to extensive cost saving measures, resilient operating performance and strong cash flow. As a result, HeidelbergCement's leverag... |
HeidelbergCement updates markets on preliminary 1Q21 expectations16 April 2021, Published under Cement NewsHeidelbergCement AG's preliminary 1Q21 financial figures deviate significantly from current capital market expectations. Preliminary revenue amounts to EUR3958m (previous year: EUR3930m) in 1Q21. The capital market expects EUR3873m for this key figure. The preliminary result from current operations before depreciation and amortisation (operating EBITDA) amounts to EUR538m (previous year: EUR405m) in 1Q21. The capital market expects EUR436m for this key figure. The preliminary result... |