Cement News tagged under: corporate
Inauguration of Sokoto plant expansion by January 202403 November 2023, Published under Cement NewsBUA Cement has revealed its plan to inaugurate its Sokoto plant expansion by January 2024. Abdulsamad Rabiu, the Chairman of BUA Group , made this announcement during his visit to Governor Ahmad Aliyu in Sokoto this week. Mr Rabiu said that the company was diligently working to ensure the new plant, currently under construction in Sokoto state, Nigeria, would be ready for the inauguration. He informed the governor that during his meeting with President Bola Tinubu in Abuja he ... |
Umm Al Qura Cement and City Cement see fall in profit03 November 2023, Published under Cement NewsSaudi-Arabia-based Umm Al Qura Cement Co reported net profits of SAR1.44m (US$0.38m), representing a 76.4 per cent drop YoY from SAR6.12m in the third quarter of 2023. Revenues decreased by 38.2 per cent YoY to SAR33.51m from SAR54.2m in the 3Q23. In the first nine months of 2023 the company posted net profits of SAR10.05m, down 65.7 per cent YoY from SAR29.3m. Revenues fell by 33.9 per cent to SAR118.5m in the 9M23 from SAR179.29m in the 9M22. Meanwhile, City Cement Co saw its net pr... |
Grupo UNACEM completes Tehachapi acquisition03 November 2023, Published under Cement NewsGrupo UNACEM has successfully completed the acquisition of the 0.9Mta Tehachapi integrated cement plant, located in California, USA. This significant milestone enables the Peruvian cement producer to double its installed capacity and strengthen its position in the competitive southwestern market in the United States. Grupo UNACEM has extended a warm welcome to the Tehachapi cement plant and its 115 dedicated workers. “We are confident that, by working together, we will enhance... |
Ambuja Cement reports quadrupling 2Q profit02 November 2023, Published under Cement NewsAmbuja Cements , part of Adani Cement Industries , saw profit quadruple in the 2QFY23-24 to INR6440m (US$77.4m) from INR1390m in the year-ago quarter. The company’s revenue advanced eight per cent YoY to INR39,700m in the 2QFY23-24 while cement and clinker sales volumes advance seven per cent to 7.6Mt. Ambuja Cements saw its expenses decline by two per cent YoY with fuel costs down by nearly a third. As a result, EBITDA improved by nearly 150 per cent to INR7740m and the EBITDA margin ... |
India Cements narrows 2Q loss02 November 2023, Published under Cement NewsThe India Cements Ltd reported a lower net loss of INR810m (US$9.7m) in the 2QFY23-24 compared with a net loss of INR1380m in the year-ago period. EBITDTA for the 2QFY23-24 reached INR140m vs -INR870m in the 2QFY22-23, with the company seeing a net profit for the coming quarters, as price realisations improve and cost pressures soften. Total income slipped 2.5 per cent to INR12.28bn in the 2QFY23-24 from INR12.59bn in the year-ago period. Cement volumes increased 5.1 per cent to 2.37Mt i... |
Holcim Romania inaugurates new aggregates plant02 November 2023, Published under Cement NewsHolcim Romania has opened a new EUR3m aggregates plant in Neudorf, Arad province, western Romania. The first deliveries of the new plant have been completed this month, said Holcim. "I am glad that with the opening of the new aggregates plant, the fifth in the country, we are closer to our customers in the western part of the country, with whom we want to build successful projects, contributing to their development plans," said Anca Alexandru, ready-mix and agreggates director of Holcim ... |
Pioneer Cement’s profits expand 60% in 1QFY23-2402 November 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71bn from PKR8.32bn in the accounting comparative period. It incurred a higher distribution cost of... |
Crown Cement earns BDT610.34m in FY22-2302 November 2023, Published under Cement NewsFor the July 2022-June 2023 financial year, Bangladesh cement producer, Crown Cement earned BDT610.34m (US$5.54m) against the loss of BDT229.27m incurred in FY21-22 (July 2021-June 2022). This was possible due to robust sales growth and increased product prices. In FY21-22 the company incurred losses due to rising raw material costs, foreign exchange losses and increased freight charges, Company Secretary, Md Mozharul Islam, told media and added that the growth in sales volume by 7.... |
CEMEX celebrates UK Technical Apprenticeship Programme02 November 2023, Published under Cement NewsCEMEX UK is celebrating the growth and success of its Technical Apprenticeship Programme, based at the company’s National Technical Centre in Southam, Warwickshire, UK. Following the initial programme launch in May 2022, four apprentices have enrolled. The first apprentice to join the scheme has successfully completed Level 3 and is starting a new CEMEX apprenticeship degree course. CEMEX is delighted to welcome new starters Callum Voss, who joins Alex Dale on the CEMEX degree course, a... |
Chattanooga plant celebrates 100-year anniversary02 November 2023, Published under Cement NewsBuzzi Unicem USA’ s Chattanooga plant observed its 100th anniversary with a celebration held at the Chattanooga Convention Center this past weekend. Over 300 current employees, retirees, customers and other special guests attended the event. Highlights of the event included a history walk featuring photos and historical facts about the plant over the years, and the Nervi exhibit, displaying the work of Pier Luigi Nervi, the Italian architect who used reinforced concrete in his designs. ... |