Cement News tagged under: corporate
Adani group posts EBITDA growth of 42% in 1Q25 August 2023, Published under Cement NewsAdani Group delivered EBITDA growth of 42 per cent YoY to INR235,320m (US$2852m) in 1QFY24 with businesses across segments ranging from airports and sea ports registered good growth, the company said. Airports, green hydrogen and other businesses under the flagship incubator saw their profits almost double YoY. With EBITDA of INR17,180m, these businesses contributed seven per cent to the portfolio EBITDA. The core infrastructure and utility platform, which generates stable and assure... |
YTL Corp reports 22% revenue rise25 August 2023, Published under Cement NewsYTL Corp Berhad ’s revenue increased by 22 per cent to MYR29,508.2m (US$6,359.5m) for the 12 months ended 30 June 2023, compared to MYR24,241.5m (US$5,224.5m) for the 12 months ended 30 June 2022. Executive Chairman of the Malaysian company, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, “Our utilities segment accomplished excellent results driven mainly by the power generation division. The cement division also turned in better performance resulting from increased demand an... |
Hail Cement's posts net profits of SAR24.5m24 August 2023, Published under Cement NewsIn the 1H23 Hail Cement recovered net profits after zakat and tax valued at SAR24.48m (US$6.53m), compared to net losses of SAR13.72m during the same period a year earlier. Revenues plummeted by 26.3 per cent YoY to SAR121.63m in the 1H23 from SAR164.93m in the 1H22. During the first three months of 2023, the company also turned profitable at SAR5.97m, versus net losses after zakat and tax worth SAR6.82m in the year-ago period. The revenues reached SAR59.78m during April-June 2023, l... |
Construction of Lebap expansion completed24 August 2023, Published under Cement NewsThe construction of the second phase of Turkmen Cement 's Lebap cement plant in Koytendag, Turkmenistan, has been completed, reports Trend News Agency. The 1Mta expansion was carried out by Turkmen Enjam. The modernisation project began in the summer of 2020 following authorisation by the Ministry of Industry and Construction. The plant’s commissioning is planned for the end of September 2023. |
Kuwait cement factory has fire quickly contained24 August 2023, Published under Cement NewsKuwait Fire Force (KFF) says six teams were able to put out a fire that broke out in a cement and manufacturing paint factory in Shuaiba Industrial area, Kuwait. A report was received at the Central Operations Department stating that a fire broke out in a factory which contains flammable chemicals, the KFF PR and Media Department said in a statement. The plant is believed to be the Kuwait Cement Factory , but the ACICO Cement plant is also in this region. The fire extended to a nearby ... |
FLSmidth completes KOCH Solutions purchase agreement24 August 2023, Published under Cement NewsFLSmidth & Co A/S has announced that all conditions and requirements regarding the previously announced Asset Purchase & Transfer Agreement between FLSmidth and KOCH Solutions have been met. The agreement involves a mix of intellectual property, order backlog, employees and facilities that are part of FLSmidth’s non-core activities (NCA) segment. In accordance with the agreement, the closing of the transaction is set to take place on the first day of the calendar month after which the clo... |
Ambuja Cement's open offer for Sanghi Industries date set23 August 2023, Published under Cement NewsAndani group-owned Ambuja Cements ' open offer to acquire 26 per cent equity from the public shareholders of Gujarat-based cement maker Sanghi Industries would commence from 29 September, according to a company document. Ambuja Cements Ltd (ACL) would buy 26 per cent equity shares of INR10 (US$0.12) each of Sanghi Industries from its public shareholders for a price of INR114,220m (US$1375) a piece. The offer would be worth up to INR767,160m, according to a Draft Letter of Offer. The... |
Yura to enable lime production at Arequipa plant23 August 2023, Published under Cement NewsPeru-based Cemento Yura , owned by Grupo Gloria , plans to enable its No 2 kiln at its Arequipa plant to produce 400tpd of lime, according to ProActivo. The modifications to the plant are expected to cost PEN4.7m. “The project will make the operation of the Kiln 2 production line more flexible, so that, with minimal changes and depending on the needs of the mining industry, it will be able to produce clinker or lime from limestone as raw material” Yura explained. The change to the line ... |
Anhui Conch in 2Q23 totals CNY6.8bn23 August 2023, Published under Cement NewsAnhui Conch Cement ’s first-half net profit of CNY6.8bn (US$932m) is lower than expected, falling 32 per cent YoY. The decline is due to lower average selling prices and weak cement demand. Conch still outperformed the industry given that some of its peers delivered a sharper drop in earnings. Morgan Star has lower its 2023-25 earnings forecasts by 18-19 per cent. While Morgan Star still expects a recovery for the sector, it forecast that this would be gradual, given China’s slu... |
CRH boss third-highest paid CEO on the FTSE10023 August 2023, Published under Cement NewsThe CEO of Irish building materials giant CRH, Albert Manifold, has been ranked as the third-highest paid chief executive on the FTSE 100, according to a new report by the High Pay Centre. Mr Manifold was paid GBP10.38m (EUR12.1m/US$13m) last year for his role as chief executive of CRH , a position which he has held since 2014. His pay for 2022 was surpassed by only two other chief executives. The news comes as CRH is set to move its primary stock market listing to New York from London n... |