Cement News tagged under: corporate
Bangladesh cement producers switch to VRMs and roller presses31 August 2023, Published under Cement NewsBangladesh cement manufacturers are replacing their traditional ball mills (TBMs) with sophisticated vertical roller mill (VRM) and roller press (RP) equipment, reports the Daily Star. Although VRM and RP-based manufacturing lines are three times costlier than the traditional ones, advanced technologies can help sustain businesses in the long run. Nine large companies - Shah Cement , Bashundhara Cement , Fresh Cement, Premier Cement Mills , Seven Rings , Crown Cement , LafargeHolcim ,... |
Fauji Cement Co sees profit expand YoY in FY2330 August 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) has earned profit after tax of PKR7.4bn (US$24.34m) in FY23, compared to PKR7.1bn in FY22. The result comes despite the retrospective increase in the Super Tax rate from four per cent to 10 per cent having an impact of PKR1.98bn and taking the effective rate to 39 per cent. The gross finance cost also advanced from PKR1.2bn to PKR3.64bn to during this period. According to the company, it has continued to focus on implementing cost optimisation initiatives, i... |
Anjani Cement reports loss in 2022-2330 August 2023, Published under Cement NewsIndia-based Anjani Cement has reported consolidated turnover of INR6615m (US$79.9m) in 2022-23, compared to INR8012.6m in 2021-22. Gross profit over the same period has declined from INR1471.5m to INR240, while profit before tax has fallen from a profit of INR587m in 2021-22 to a loss of -INR641m in 2022-23. Consolidated cement production in 2022-23 came in at 1.400Mt with a capacity utilisation rate of 59 per cent, compared to 1.717Mt and 78 per cent, respectively, in the same period a ... |
Siam Cement puts chemicals IPO on hold30 August 2023, Published under Cement NewsThailand-based Siam Cement has announced that it is postponing the initial public offering (IPO) of its SCG Chemicals business. According to Reuters News, the decision is due to unfavourable market conditions but the company plans to proceed with the IPO once conditions improve. The IPO approval date has been extended until 4 October 2023 but cannot be extended any further after that date. The company has reported a seven per cent YoY decline in its shares this year. Thailand has als... |
Dangote defends price criticism30 August 2023, Published under Cement NewsDangote Cement has defended recent criticism of its cement prices saying they are in line with or lower than prices across the rest of the West African coast, reports The Punch. The company has come under fire for increasing the price of its cement in Nigeria, in particular, putting it significantly more expensive than in the likes of Benin - a claim refuted by the company, which says its prices in Nigeria have not risen and points out that it is important to distinguish between Dangote’s ... |
Sika concrete recycling technology receives US$11m in funding30 August 2023, Published under Cement NewsSika has received CHF10m (US$11.34m) in funding for its innovative reCO2ver ® concrete recycling technology. ReCO2ver involves a novel concrete recycling process that allows old concrete to be entirely reused while facilitating the sequestration of CO 2 . To support the use of the technology, Switzerland’s Climate Cent Foundation is guaranteeing the purchase of CO 2 certificates from the programme for an initial amount of CHF10m. Sika’s reCO2ver technology not only separates old concret... |
WHR testing begins at Secil30 August 2023, Published under Cement NewsThe CTP Team waste heat recovery (WHR) system being installed at Secil , Portugal, has entered the testing phase with each piece of equipment being individually checked prior to commissioning and start-up. According to the company, the fans of the air-to-air heat exchanger have been tested using a temporary power source. The 7.2MW WHR system integrates three different heat sources to generate electricity: AQC boiler, PH boiler, and solar field. The system features a 15,172m 2 total heat... |
Bamburi sees pretax profit quadruple29 August 2023, Published under Cement NewsKenya-based Bamburi Cement Ltd , owned by Holcim, reported a 1H23 turnover of KES22,260m (US$153.5m), up 11 per cent when compared with the 1H22. Profit before tax surged to KES621m in the 1H23 from KES124m in the 1H22. |
Diego Lugano and Hipermix in Brazil JV29 August 2023, Published under Cement NewsDiego Lugano, a former footballer for Uruguay’s national team, is entering the cement business in Brazil in a joint venture (JV) with local company Hipermix. The JV has inaugurated a 0.4Mta cement and mortar factory in the industrial district of Montenegro, Rio Grande do Sul. The BRL100m (US$20.4m) investment will see the production of 100,000tpa of cement traded as Cementos Gaúcho, according to local media. The plant will create 30 direct and 120 indirect jobs. Cementos Gaúcho will serve ... |
UNACEM to acquire Tehachapi plant25 August 2023, Published under Cement NewsPeru-based Grupo UNACEM is buying the 0.9Mta Tehachapi cement plant in California, USA, from Martin Marietta Materials Inc for US$317m. "The acquisition of Tehachapi represents an opportunity to strengthen our presence in the Southwest US market," said Pedro Lerner, CEO of Grupo UNACEM. "If this transaction is approved, the United States would become the second country in terms of installed capacity for the UNACEM Group and also as a generator of revenues and EBITDA, after Peru. It is a... |