Cement News tagged under: corporate
Orient Cement reports profit dip in June quarter03 August 2023, Published under Cement NewsOrient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to INR7723.9m, driven primarily by cost of materials consumed, and power and fuel. Earnings per share ... |
Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary03 August 2023, Published under Cement NewsThe Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly completed on 26 July 2023 and the shares have been registered in the name of buyers under the Iraqi Law... |
Ambuja Cements to acquire Sanghi Industries02 August 2023, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known. In the quarter ended 30 June 2023, Ambu... |
UltraTech commissions 1.2Mta Magdella expansion02 August 2023, Published under Cement NewsUltraTech Cement has commissioned its 1.2Mta brownfield capacity expansion at Magdella , Gujarat. The project takes the plant’s total cement capacity to 1.93Mta. According to the company, UltraTech's total grey cement production capacity in India now stands at 132.45Mta. |
WCA welcomes OneStone Consulting as an Associate Corporate Member01 August 2023, Published under Cement NewsThe World Cement Association (WCA) is welcoming OneStone Consulting, a management consulting firm with global reach, as an Associate Corporate Member. Recognising the importance of environmental responsibility, OneStone Consulting guides cement companies toward implementing sustainable practices and advancing circular economy initiatives that reduce carbon footprints and promote growth and improved profitability. “OneStone Consulting’s wide ranging expertise will be valuable to WCA’s ... |
Dangote reports 82% advance in pan-African revenue31 July 2023, Published under Cement NewsDangote Cement has reported total sales volumes of 13.4Mt in the first half of 2023. Its pan-African sales, which includes all cement plant operations outside Nigeria, came in at 5.4Mt, up 11.6 per cent YoY, mainly due to robust demand in Ethiopia, Senegal, Zambia and Congo. Group revenue in the 1H23 stood at NGN950.8bn (US$1.23bn), up 17.7 per cent YoY, while pan-African revenue advanced 81.8 per cent to NGN336.4bn. Recurring profit after tax was up 37.4 per cent to NGN292.2bn, while ... |
CRH invests EUR34m in Ukraine31 July 2023, Published under Cement NewsIreland’s CRH is investing EUR34m in a new cement shipping complex in Ukraine. Construction of the “main stage” of the project was completed in early July, according to The Sunday Independent. The complex will be able to receive, store and ship 450,000t of cement each year, and will feature an automated packaging and palletising line. |
BUA Cement posts 1H23 revenue of NGN221bn31 July 2023, Published under Cement NewsBUA Cement of Nigeria reported revenue of NGN221,067m (US$284.9m) in the 1H23, up 17.2 per cent from the NGN188,562m recorded in the 1H22. Operating profits totalled NGN86,940m in the 1H23, up 11.8 per cent from NGN77,737m in the 1H22. Profit before tax amounted to NGN76,425m, up from NGN77,378m in the 1H22. Profit after tax totalled NGN63,616m, a rise of 3.7 per cent from the NGN61,364m seen in the 1H22. |
HeidelbergCement Bangladesh reports profit in 1H2331 July 2023, Published under Cement NewsHeidelbergCement Bangladesh Ltd (HCBL) has earned a net profit of BDT478.02m (US$4.4m) in January –June 2023 against a loss of BDT205.29m in the same period of 2022, according to the company’s financial results. The profit was attributed to increased gross profit, sales, other income, and less finance expenses. However, warehouse, distribution and selling costs increased during the period. According to the company, total sales increased to BDT10.207bn, compared to BDT9.035bn in January–... |
Shree Cement starts commercial production at Purulia31 July 2023, Published under Cement NewsShree Cement Ltd has commenced commercial production at its clinker grinding unit in the Purulia district of West Bengal with a cement capacity of 3Mta. According to the company, this is the first factory in the state which will help meet the growing demand for cement in West Bengal. Shree Cement operates 10 integrated cement plants and 11 grinding units across India. The Purulia plant is expected to create direct and indirect employment opportunities for over 1000 people. With this,... |