Cement News tagged under: corporate
CRH sells lime business to SigmaRoc23 November 2023, Published under Cement NewsCRH plc has agreed to divest its lime operations in Europe to SigmaRoc plc for a total consideration of approximately US$1.1bn. The lime business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, Czech Republic and Poland. The combined business generated sales of around US$610m and EBITDA of roughly US$137m in 2022. The transaction, which is subject to customary conditions and regulatory approvals, is structured in three phases, the first o... |
South Valley Cement sees revenue fall in 9M2323 November 2023, Published under Cement NewsSouth Valley Cement Co has reported revenue of EGP592.5m (US$19.15m) in the first nine months of 2023, down from EGP614.09m in the same period a year earlier. Net losses after tax fell from EGP83.81m in the 9M22 to EGP63.10m in the 9M23, reports Zawya. The loss per share came in at EGP0.13 in the opening nine months of 2023, a YoY decrease from EGP0.17. Revenue in the third quarter of 2023 alone stood at EGP128.49m, down from EGP288.52m in the same period in 2022. Net profit after tax... |
CEMEX Ventures invests in digital solution23 November 2023, Published under Cement NewsCEMEX Ventures, CEMEX's corporate venture capital (CVC) and open innovation unit, has announced its investment in Vizcab, a French start-up whose digital platform enables different developers and architecture, engineering and construction (AEC) stakeholders to assess and work towards reducing CO 2 emissions across the construction value chain. Assessing and working towards lower embodied carbon in the construction materials industry can contribute to reducing the impact of climate ... |
Aggregate Industries appoints group strategy and commercial growth director23 November 2023, Published under Cement NewsAggregate Industries , part of Holcim , has appointed Kaziwe Kaulule as its new group strategy and commercial growth director. With a career spanning over 19 years with the Holcim Group, Mr Kaulule brings extensive experience to the role, including operations, digital transformation, business development, and mergers and acquisitions. His most recent role was as chief executive officer (CEO) at Lafarge Industries South Africa . He has also served as CEO at Lafarge Cement Zimbabwe and h... |
Breedon posts 8% growth YoY in 10M2322 November 2023, Published under Cement NewsBreedon Group has reported eight per cent growth in revenue YoY in the first 10 months of 2023, driven by robust pricing and operational excellence, that more than offset the effect of moderating volumes. According to the company, changes to building regulations in the UK that came in in June, impacted ready-mixed concrete (RMC) volumes, while aggregate and asphalt volumes have continued to moderate. “However, pricing has been sustained and we have maintained tight control over our cos... |
CRH reaches agreement on Martin Marietta acquisition22 November 2023, Published under Cement NewsCRH has reached an agreement to acquire a portfolio of cement and ready-mixed concrete (RMC) assets in Texas, USA, from Martin Marietta Materials for a total consideration of US$2.1bn. According to CRH, the combined portfolio of assets is expected to generate pro-forma 2023 EBITDA of approximately US$170m. The assets include the 2.1Mta Hunter cement plant located between San Antonio and Austin, a network of terminals along the eastern gulf coast of Texas, and a portfolio of 20 RMC pla... |
Oman Cement’s profits swell22 November 2023, Published under Cement NewsIn the first nine months of 2023, Oman Cement Co (SAOG) ( Hauxin Cement Group ) earned profit after tax of OMR7.355m (US$19.1m), compared to OMR4.638m in the corresponding period of the previous year, marking growth of 59 per cent YoY. According to the company, it has continued its efforts to overcome the adverse impact of the rise in prices of some major cost elements, and extensive efforts have been made in this direction in the current period, with better cost management and sustained e... |
CEMEX Espana to consider next step after EUR456 tax fine22 November 2023, Published under Cement NewsCEMEX has announced that its subsidiary, CEMEX España, will pay approximately EUR456m in fines as a result of a tax audit in Spain that commenced in July 2011 and covered the years 2006-09. According to a company press release, the tax authorities questioned some of the tax losses that Cemex España reported during those years. These losses were not used by Cemex España and have not been shown in its financial statements since 2012. CEMEX evaluating next steps According to the compa... |
Suitors line up for Vadraj Cement22 November 2023, Published under Cement NewsJSW Cement , the Adani Group , and the ArcelorMittal Group are among the entities expressing an interest in acquiring India’s Vadraj Cement , according to Construction World. Vadraj Cement, which is owned by the ABG Shipyard group, is being sold under the Insolvency and Bankruptcy Code (IBC) process. After the cement company was sued by trade creditor Beumer Technology India in August 2018 to recover unpaid debts, the Bombay High Court ordered the company to be wound up. Following lon... |
RHI Magnesita opens new office in Mexico22 November 2023, Published under Cement NewsRHI Magnesita has opened a new customer service hub in Monterrey, Mexico. The new offices are located in San Pedro Garza Garcia, Nuevo León. “We are proud to be expanding into Monterrey and showcasing our brand in this new area. We’re confident that the addition of the team in this office will support our focus on providing our customers with the best experience,” said Craig Powell, North America regional president, RHI Magnesita. The company serves customers around the world fro... |