Cement News tagged under: Corporate
Southern Province Cement Co releases its 2023 financial results19 March 2024, Published under Cement NewsSouthern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent from SAR238m in 2022. The significant decrease in profits (after tax and zakat) led to Southern Pro... |
Titan reports record EBITDA growth of EUR540m in 202318 March 2024, Published under Cement NewsTitan reported record EBITDA in 2023 reaching EUR540.3m, up by 63.1 per cent, achieving margin expansion. All regions posted double-digit profitability growth, thanks to increased sales across all main products, firm pricing, operational efficiencies and improved performance of energy costs, said a company statement. Group sales in 2023 totalled EUR2547m, a 11.6 per cent increase compared to the previous year, while EBITDA grew by 63.1 per cent YoY, reaching EUR540.3m. The group's net profi... |
DCMI in talks to acquire CEMEX Holdings Philippines18 March 2024, Published under Cement NewsPhilippines-based D M Consunji Inc (DCMI), an engineering-based construction firm, is looking to expand into the cement business with the potential acquisition of CEMEX Holdings Philippines (CHP). According to The Philippine Star, the acquisition is seen as benefitting DCMI as cement is a key input in some of its major businesses. It could also help mange the costs of its property arm. Although there has been no confirmation of when a deal could be completed, both DCMI and CHP are repo... |
Misr Cement becomes an exclusive agent for MAN in south Upper Egypt18 March 2024, Published under Cement NewsMisr Cement Maintenance has collaborated with Kastour Egypt for Trade and Industry, the exclusive agent of the International German truck brand MAN along with other brands. The agreement was signed by Kastour Egypt for Trade and Industry, represented by Eng Kastour Mamdouh Kastour, chairman and managing director, and Misr Cement Maintenance, represented by Eng Bassam Abdel Rasoul, group chieft echnical officer. Misr Cement Maintenance's centre is now the authorised service and mainte... |
S&P upgrades CEMEX's credit rating15 March 2024, Published under Cement NewsRating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation. “Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we had record results last year, this rating is recognition of successful execution against our medium-te... |
Holcim Mexico appoints Jorge Gonzalez as CFO15 March 2024, Published under Cement NewsJorge Gonzalez has been named as the new CFO of Holcim Mexico , the Mexican division of one of the largest global producers of building materials. This move, by the company, is reportedly aimed at strengthening their position as an industry leader in sustainable construction materials. The new CFO says, “I am excited to take on this new challenge at a key moment for Holcim Mexico, in which we are accelerating our growth in the country significantly.” This appointment comes after the exe... |
WCA host 7th General Assembly in London15 March 2024, Published under Cement NewsThe World Cement Association (WCA) held its 7th General Assembly on February 27th in London at the National Liberal Club. Representatives from member organisations participated in the GA, both in-person and virtually, engaging in discussions on current activities, upcoming plans, and the election of new board members. The event concluded with a networking lunch, providing an opportunity for members to connect and exchange ideas. The agenda featured a comprehensive outlook on the global cemen... |
CEMEX Croatia awarded contracts for three solar power plant projects14 March 2024, Published under Cement NewsCEMEX Croatia has been awarded EUR5m (US$5.5m) in contracts for the construction of three solar power plants, co-funded by The Environmental Protection and Energy Efficiency Fund and the EU Modernisation Fund. The project will see solar energy production facilities built at Juraj cement plant in Kaštel Sućurac, Kajo cement plant in Solin and the Podsused facility in Zagreb. Approximately EUR3m of the funding will be supplied by the EU. The goal of this project is to equip the roofs ... |
Heidelberg Materials launches Airvault CCUS project14 March 2024, Published under Cement NewsMarking the latest addition to its portfolio of carbon capture, utilisation and storage (CCUS) initiatives, Heidelberg Materials has announced another CCUS project at its Airvault cement plant in the French New Aquitaine Region. The AirvaultGOCO₂ project, with a planned capture capacity of approximately 1Mta, is part of the GOCO₂ initiative to decarbonise the west of France. “We started an ambitious modernisation programme for our sites in France several years ago, with a planned inv... |
Humboldt Wedag India & KIMA Process Control form strategic alliance14 March 2024, Published under Cement NewsHumboldt Wedag India Pvt Ltd (HW India) has partnered KIMA Process Control in a strategic alliance. HW India becomes the exclusive sales and service partner for KIMA Process Control in India, further solidifying its commitment to delivering cutting-edge process control solutions for the cement sector. KIMA Process Control's advanced products will complement HW India's existing portfolio of equipment and services, strengthening its position as a one-stop solution provider for the cement in... |