Cement News tagged under: corporate
Argos receives US$272m sustainability-linked loan26 July 2023, Published under Cement NewsColombia’s Banco de Bogotá has disbursed a US$272m sustainability-linked loan to Cementos Argos . The agreement allows a gradual reduction in interest rate subject to the cement producer’s compliance with two environmental indicators: net specific CO 2 emissions and a supplier sustainability assessment. The loan has a repayment term of 60 months with a 24-month grace period. Under the conditions of the loan, the cement company must reduce its Scope 1 net specific CO 2 emissions to 523kg... |
Shree Cement 1QFY23-24 profits jumps INR5723m26 July 2023, Published under Cement NewsShree Cement ’s first quarter profit for the FY23-24 rose to INR5723m (US$69.7m), up 104.8 per cent in comparison to INR2795m during the corresponding quarter of last year. It posted revenue from operations at INR50,648.3m, up 14.7 per cent as against INR4,4148.5m during the 1QFY22-23. The company’s EBITDA stood at INR9326m. The company posted total income for the quarter at INR52,339m, up 19.1 per cent in comparison to INR43,947.5m during the same period last year. However, the total... |
Siam City Cement posts 1Q23 revenue of THB1188m in Vietnam26 July 2023, Published under Cement NewsThailand-based Siam City Cement Co (SCCC) has posted a revenue of THB1188m (US$34.5m) from its Siam City Cement Vietnam business in Vietnam in the first quarter of 2023. This represents a 33.6 per cent YoY drop. EBITDA of the Vietnamese operations was -THB52m in the 1Q23, compared with THB371m in the 1Q22. As a result, the EBITDA margin declined from 20.7 per cent in the 1Q22 to -4.4 in the 1Q23. However, signs of recovery have been seen, according to the company, with moderate growt... |
Orient Cement enters agreement to acquire stake in Ardeur Renewables25 July 2023, Published under Cement NewsIndia-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisition, Orient Cement expects to meet its green energy requirement, optimise its energy cost and compl... |
Bamburi Cement appoints new board director and company secretary25 July 2023, Published under Cement NewsKenya-based Bamburi Cement , part of Holcim Ltd , appointed Claudia Albertini, as new non-executive director, and Joyce Munene as company secretary. Ms Albertini has over 26 years of experience in finance and accounting. She is currently Holcim Group’s CFO for Asia, Middle East and Africa region and has held a range of senior positions within Holcim Group Services over the past 23 years. She holds a Master’s Degree in Economic and Commerce from the Università Catholic del Sacro Cuore, Mi... |
LafargeHolcim Bangladesh posts growth of 66% in 1H2324 July 2023, Published under Cement NewsLafargeHolcim Bangladesh Ltd (LHBL) has reported a 66 per cent growth in profit to BDT3615m (US$33.3m) in 1H2023 (Jan-Jun 2023) compared to BDT2173m in the same period last year, according to the company’s unaudited financial result made public on 19 July. The net sales increased to BDT15,256m from BDT11,272m, translating to a 35 per cent expansion during this period. Iqbal Chowdhury, CEO, said: “We achieved this performance together. My thanks, therefore, go to our employees, bus... |
Cementos Pacasmayo sees 9% drop in 2Q net profit24 July 2023, Published under Cement NewsPeru-based Cementos Pacasmayo reported a 12.1 per cent YoY drop in revenues to PEN442m (US$123.4m) in the second quarter of 2023, due to a drop in demand, which was affected by severe rainfall due to cyclone Yaku and a stagnation in public investment as a result of new regional authorities. Sales volumes of cement, concrete and precast fell by 17.9 per cent YoY. The company achieved consolidated EBITDA of PEN112.7m, down 6.5 per cent YoY, due to reduced revenues. However, it saw a consol... |
Dalmia Bharat sees revenue advance YoY in June quarter21 July 2023, Published under Cement NewsDalmia Bharat has reported its unaudited consolidated results for the quarter ended 30 June 2023, with revenue from operations coming in at INR36,240m (US$442m) over the three-month period. This compares to INR39,120m in the previous quarter, and INR33,020m in the same period a year earlier. Profit for the June 2023 quarter stood at INR1440m, down from INR6080m in the previous quarter and INR2050m in the same period in 2022. Total expenses in the quarter ended 30 June 2023 were reported... |
InterCement assets in Brazil and Argentina are on other players' radar21 July 2023, Published under Cement NewsAccording to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market. According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c... |
CEMTEC INC launches in North America20 July 2023, Published under Cement NewsCEMTEC INC, subsidiary of Cemtec Cement and Mining Technology GmbH, headquartered in Enns, Austria , is ready to serve customers in North America. CEMTEC INC has already received several new orders. This expansion marks a significant milestone in our commitment to providing unparalleled services to the group’s valued North American clients. As a global leader in solutions for the cement, mining, and minerals industries, Cemtec Cement and Mining Technology’s expertise in grindin... |