Cement News tagged under: corporate
Interoceanicos to build cement plant in Puno18 March 2021, Published under Cement NewsPeru-based Cementos Interoceanicos has signed an agreement with Satarem to build a 1Mta cement and two lime plants in Puno, Peru, in the next 18 months. The cement producer expects to enter the area’s cement and lime markets in the next two years. The project represents an investment of US$158m. Satarem aims to have a 30 per cent stake in the shareholding of Cementos Interoceanicos as a result of the agreement. |
Tangshan Jidong Cement reports 3% rise in income18 March 2021, Published under Cement NewsChina’s Tangshan Jidong Cement has reported a 2.8 per cent YoY increase in operating income to CNY35.48bn (US$5.46m) for 2020, compared to CNY34.51bn in the previous year. Net profit attributable to shareholders also increased 5.5 per cent to CNY2.85bn from CNY2.7bn in 2019. |
RAK White Cement sees revenue down 7%17 March 2021, Published under Cement NewsUAE-based RAK White Cement has seen a 34.6 per cent YoY decline in attributable net profit to AED12.69m (US$3.46m) in 2020, compared to AED19.41m in the previous year. Revenues declined 6.5 per cent YoY to AED221.19m from AED236.48m in 2019. |
Local man becomes new plant manager at Dunbar cement plant17 March 2021, Published under Cement NewsTarmac (CRH Group) has promoted a local employee as its new plant manager at Dunbar Cement. Chris Bradbury, who previously worked at Tarmac’s Tunstead plant in Derbyshire, began working in the industry as an apprentice in 1994 and has experience of working at cement plants in UK, Nigeria and the Philippines. The 45-year-old has risen through teh ranks and has been appointed the new plant manager at the Tarmac Dunbar cement plant, which employs 140 people. Mr Bradbury, who lives in Dunb... |
China Resources Cement reports 4% profit increase16 March 2021, Published under Cement NewsChina Resources Cement has seen its profit attributable to owners rise four per cent YoY to HKD8.96bn (US$1.15bn) for 2020. The company also posted a turnover of HKD40.09bn in 2020, up 2.9 per cent YoY. Basic earnings per share reached HKD1.283, while a final dividend of HKD0.34 is expected to be distributed. |
Shree Cement starts commercial operation of Odisha grinding plant16 March 2021, Published under Cement NewsShree Cement has started commercial operation of its new 3Mta cement grinding unit in Odisha. The new plant is located in Athagarh Tehsil, Cuttack District of Odisha, Shree Cement said in a regulatory filing. Shree Cement operates four integrated plants and 10 grinding plants in India as well as a 4.8Mt integrated plant in UAE. The company is building a new 3Mta grinding plant in Pune but has put on hold plans for a 5Mta greenfield grinding plant in Raghunathpur, West Bengal, India. ... |
First stage of Eurocement e-auction to close15 March 2021, Published under Cement NewsThe first stage of trading of the e-auction for 100 per cent of Eurocement’s shares that began on 18 February 2021 ends today (15 March 2021). Based on the results of the first stage, a list of participants will be formed and they will be invited to bid within the framework of the second trading session that will result in a winning investor in early April. The deal includes Sberbank's claims to Eurocement under credit and other agreements, 100 per cent of shares in GFI Investmen... |
Sharjah Cement sees 26% revenue decline in 202015 March 2021, Published under Cement NewsUAE-based Sharjah Cement has reported a 25.6 per cent decline in revenue to AED431.63m (US$117.53m) for 2020, compared to AED580.1m in the previous year. The cost of sales declined to AED436.99m from AED543.8m. The company also posted an AED70.64m loss for the year, compared to an AED12.07m profit in 2019. |
Argos signs COP160bn ESG-linked performance loan with BBVA15 March 2021, Published under Cement NewsBBVA and Argos (Grupo Argos) signed a long-term financing agreement through a sustainable loan in an ESG-linked format for COP160bn (US$44.8m) where the loan includes a pricing adjustment mechanism that links the interest rate to the company’s ESG performance. This transaction is the first of its kind in Colombia and constitutes Grupo Argos' debut in sustainable financing. The loan granted by BBVA in Colombia to Cementos Argos includes an adjustment mechanism through which the int... |
Togo's new 2.5Mta plant to open next September12 March 2021, Published under Cement NewsCimMetal has provided an update for its 2.5Mta new plant project in Togo. Preliminary works related to construction are now 65 per cent complete and the plant is expected to open in September 2022. The company is set to invest XOF65bn (US$118.26m) in the project, while CimCo also received XOF25bn of funding from the West African Development Bank. |