Cement News tagged under: india
ACC records 39% rise in net profit for 2Q1919 July 2019, Published under Cement NewsIndia’s ACC Ltd (Ambuja Cements) has reported a 38.6 per cent YoY rise in consolidated net profit to INR4.56bn (US$60.26m) for the 2Q19, due to an improvement in operating performance. Total revenue increased 7.8 per cent to INR41.50bn against INR38.48bn in the year-ago period. EBITDA also advanced 25 per cent to INR7.83bn. However, the cement sales volume was flat at 7.2Mt. Ready-mix concrete sales were up 10.4 per cent to 0.85Mm 3 from 0.77Mm 3 . "Despite subdued cement demand, our s... |
UltraTech's acquisition of Century Cement to be completed soon19 July 2019, Published under Cement NewsIndia’s UltraTech Cement has confirmed that it will complete the merger of Century Cement in the second quarter of the FY19-20. The only pending approval which remains for the deal is the transfer of mining leases, which is expected to be completed soon, according to Kumar Mangalam Birla, chairman of the company. "After the completion of the Century Cement transaction, coupled with the on-going capacity expansion, our capacity will be augmented to over 117.35Mta, inclusive of its overseas o... |
Dalmia Cement to take non-hazardous waste17 July 2019, Published under Cement NewsDalmia Cement's Ariyalur plant has agreed for the safe disposal of non-hazardous waste from the Golden Rock Railway Workshop (GRRW) in Turuchi, India. Dalmia's cement plant the second cement factory to accept waste from the GRR after UltraTech Cement's Ariyalur plant disposed of nearly 5000t of this zero-value waste in 2017. The zero-value waste is being used as an alternative fuel by Damlia Cement. The waste is to be dispatched to the plant in the form of rubber, belts, cushions, berth... |
Ambuja Cement to support cement activities with RMC and aggregate acquisitions15 July 2019, Published under Cement NewsLafargeHolcim-owned Ambuja Cement is looking to acquire capacity in ready-mix concrete (RMC) and aggregates business to fuel growth, according to The Business Standard, citing a company official. Analysts see the move as a step towards being a building materials company and not solely a cement maker. “Globally, cement giants have looked at developing a building materials image and not just as a cement manufacturer and the focus of Ambuja (Holcim Group) appears to be on similar lines. The fo... |
Targeting digital innovation12 July 2019, Published under Cement NewsThis week, LafargeHolcim announced that it is launching its 'Plants of Tomorrow' project. The implementation of the Internet of Things (IoT) and smart technology is already having a big impact on the thinking of what can be achieved in the way of cost reductions and efficiency gains for the cement sector. Manufacturing companies have been quick to embrace cloud technology, although controlling the budget spend is often a challenge. Findings of a Nutanix Enterprise Cloud report recently s... |
NCLT approves Dalmia's acquisition of Murli Industries with conditions11 July 2019, Published under Cement NewsIndia’s Dalmia Cement (Bharat) has received approval from National Company Law Tribunal (NCLT) Mumbai regarding its offer to save Murli Industries from liquidation. However, the assembly has outlined certain conditions for the deal. The liquidation value of Murli’s assets is INR2.31bn (US$33.6m) while Dalmia has offered INR4.02bn for the acquisition of its 3Mta cement manufacturing business in Maharashtra. The offer will see banks receive INR3.8bn out of the INR27.83bn due, according to Th... |
Nepal introduces higher cement standard certification11 July 2019, Published under Cement NewsNepal's government has extended domestic cement grades to three grades by the Nepal Bureau of Standards and Metrology (NBSM). Grades 43 and 53 have been added to the 33-grade cement, overturning the previous law that prohibited domestic manufacturers from labelling their cement products higher than grade 33. Nepal's domestic cement producers had been claiming that their cement met international quality standards for grades 43 and 53 and the change in regulations should lessen the dependence... |
GCCA launches Indian segment03 July 2019, Published under Cement NewsThe Global Cement and Concrete Association (GCCA) launched its Indian segment on Tuesday. As part of GCCA’s strategic partnership with the World Business Council on Sustainable Development, GCCA India will assume the responsibilities of the Cement Sustainability Initiative (CSI) India which formerly served as the sector’s sustainability alliance. "India is clearly a critical market in terms of cement producing capacity and with population growth, and the growing demand and need for safe h... |
Shree Cement commissions 2.5Mta of grinding capacity28 June 2019, Published under Cement NewsIndia’s Shree Cement has commenced commercial production at its new 2.5Mta grinding unit in Seraikela-Kharsawan district, Jharkhand. The fresh capacity is one of a number of new grinding projects that the company set out to commission by 2020. Last month, it also announced plans to add 3Mta of capacity to its unit in Pune . |
ICRA expects Indian demand growth to slow28 June 2019, Published under Cement NewsIndian ratings agency ICRA is expecting cement demand growth in the country to taper to about seven per cent in the FY19-20, down from 13 per cent in the previous fiscal. The slow execution of infrastructure projects and availability of labour due to the general elections have both been issues, according to Sabyasachi Majumdar, senior vice-president of ICRA. In the upcoming September quarter, demand is expected to be low as a result of the monsoon season. However, consumption is foreca... |