Cement News tagged under: corporate
Freehill Mining to supply Cementos Melón14 February 2024, Published under Cement NewsAustralia-based Freehill Mining Ltd has secured a purchase order from Chile’s Cementos Melón with a gross sales value of approximately US$185,000. The purchase order is for the supply of material to Melón’s Coquimbo cement plant from Freehill’s 100 per cent-owned Yerbas Buenas project in Maule Region, Chile. The material will be delivered over a two-month period, likely to commence in mid-March 2024. Although the volume and price secured per cubic metre under this purchase order has no... |
Oficemen signs decarbonisation technology agreement with Enagás14 February 2024, Published under Cement NewsSpain’s cement association, Oficemen, and natural gas transmission company Enagás SA have signed an agreement to jointly explore decarbonisation technologies. Both organisation will collaborate in the analysis and potential development of infrastructure to transport H 2 , CO 2 and O 2 . Signed by Alan Svaiter, Oficemen president, and Arturo Gonzalo Aizpiri, CEO of Enagás, the two-year agreement highlights the commitment of the Spanish cement industry to decarbonise. At the close of 2022, t... |
Yamama Cement posts 7% YoY fall in revenue in 202314 February 2024, Published under Cement NewsSaudi Arabia's Yamama Cement Co has announced revenue of SAR935.19m (US$249.38m) for 2023, down 7.23 per cent on the SAR1008.1m seen in the previous year. Operational profit was down 17.93 per cent from SAR333.13m in 2022 to SAR263.55m in 2023. Net profit over the same period has declined 14.49 per cent from SAR355.79m to SAR304.25m. Profit per share also fell, down from SAR1.76 and SAR1.5. The downturn in revenue and profit has been attributed to a low volume and value of sales as loca... |
Saurashtra Cement sees upturn in income13 February 2024, Published under Cement NewsSaurashtra Cement has posted total income of INR4508m (US$54.34m) in the quarter ended 31 December 2023. This compares to INR3781m in the previous quarter and INR4465m in the same quarter a year earlier. Net profit in the December 2023 quarter came in at INR125m, up notably from the INR7.9m seen in the previous quarter and the INR28.5m loss recorded in the quarter ended 31 December 2022. Total expenses have declined from INR4470m in the December 2022 quarter to INR4156m in the same quar... |
CIMAF lays foundation stone for Mali plant13 February 2024, Published under Cement NewsCIMAF laid the foundation stone for its new Mali factory on 9 February 2024 in Natien, a commune located in the Sikasso region. The Minister of Industry and Trade, Moussa Alassane, was present at the ceremony. This new unit will have a production capacity of 1Mta of cement, expandable to 2Mta, and will It generate at least 300 direct jobs and 2000 indirect jobs. The completion date has been set at 23 months, with a start-up date of February 2026. |
CRH completes Hunter plant and Texan ready-mix acquisitions13 February 2024, Published under Cement NewsCRH has completed the US$2.1bn acquisition of Martin Marietta Materials Inc in Texas, USA. The deal was first announced on 21 November 2023 and the combined assets are expected to generate a pro-forma EBITDA of around US$170m for 2023. The acquisition includes the 2.1Mta Hunter cement plant, 20 ready-mix assets with a capacity of 1.6Mm 3 and a network of terminals along the Eastern Gulf Coast of Texas. |
Saint-Gobain appoints new president of SGDB France13 February 2024, Published under Cement NewsEffective from 1 April 2024, Olivier Mercadal will become president of Saint-Gobain Distribution Bâtiment France (SGDB France), reporting to Thierry Fournier, CEO France and CEO Southern Europe, Middle East, Africa Region for Saint-Gobain. Mr Mercadal succeeds Patrice Richard who has decided to retire after 29 years, including the last 14 years as head of construction material trading activities in France. Mr Mercadal joined Saint-Gobain in 2001 and held the positions of executive ge... |
The Ramco Cements announces expansion plans12 February 2024, Published under Cement NewsThe Ramco Cements Ltd has announced plans to double capacity at its Kalavatala plant in Andhra Pradesh, India. According to The Hindu, the company intends to set up a second line to increase clinker capacity at the works to 6.3Mta and cement capacity to 3Mta. The expansion is expected to cost INR12,500m (US$150.57m). An additional 15MW waste heat recovery system (WHRS) will also be added. The new line is scheduled to be commissioned in FY25-26 and will take the company’s total production... |
Burnpur Cement sees income decline YoY12 February 2024, Published under Cement NewsBurnpur Cement Ltd has reported total income from operations of INR407.4m (US$4.9m) in the quarter ended 31 December 2023. This comes to INR433.9m in the previous quarter and INR349.3m in the quarter ended 31 December 2022. The company recorded a loss from continuing operations of INR451.5m for the December 2023 quarter, up from a loss of INR191.5m in the previous quarter and INR207.6m in the quarter ended 31 December 2022. Basic earnings per share declined from a loss of INR2.41 in the q... |
Kohat Cement Co to post strong results12 February 2024, Published under Cement NewsKohat Cement Co Ltd is scheduled to announce its financial result for 1HFY23-24 (July-December 2023) on 14 February whereby AHL Research anticipate the company will post a profit after tax of PKR4.313bn (US$15.57m) as compared PKR3.578bn, up by 21 per cent YoY. Likewise, in 2QFY23-24 (October-December 2023) earnings are expected to climb by seven per cent YoY, arriving at PKR2.084bn. The top line in 2QFY23-24 is expected to decline by nine per cent YoY to settle at PKR10.017bn... |