Cement News tagged under: india
Ambuja Cements names Neeraj Akhoury as MD and CEO21 February 2020, Published under Cement NewsAmbuja Cements has appointed Neeraj Akhoury as its new managing director and chief executive officer with effect from 21 February 2020, the company said in a press release. He will succeed from Bimlendra Jha, who resigned to pursue other interests. Mr Akhoury was previously MD and CEO of ACC Ltd and has 27 years of experience across multiple roles including sales and marketing, logistics and corporate affairs. Mr N S Sekhsaria, Ambuja Cements’ chairman, said: "We are pleased to have Nee... |
Indian cement producers expect higher-sulphur petcoke import in 202020 February 2020, Published under Cement NewsIndia’s cement sector is expected to increase its imports of high-sulphur petcoke in 2020 as it aims to boost production, according to company executives. Indian use of petcoke as an alternative to coal for the cement industry rose marginally in 2019 after a first-time decline in nearly a decade in 2018. Sanjay Kumar, strategic sourcing director at LafargeHolcim Energy Solutions, said he saw "higher imports of petcoke in 2020". Yagyesh Gupta, chief procurement officer at JK Cement, also s... |
Wonder Cement launches digital cement bag campaign17 February 2020, Published under Cement NewsWonder Cement of India has launched its digital campaign, 'Har Raah Mein Wonder Hai', designed specifically to run on platforms such Instagram, Facebook and YouTube. The campaign also marks Wonder Cement being the first-ever Indian cement brand to enter the world of the video application IGTV. No other brand in this category has created content specific to the platform. The objective of the campaign is to reach out to the end-user digitally with a story, screenplay and script that encaps... |
Nuvoco on a solid growth path14 February 2020, Published under Cement NewsA week ago, Emami Cement Ltd agreed the takeover by Nuvoco Vistas Corp (Nirma group) for its cement operations in India. The US$770.56m acquisition means that the Nirma group will add to its assets three grinding plants serving Orissa, Bihar and West Bengal, plus an integrated plant in Chhattisgarh, along with mining leases on 300Mt of limestone reserves with an expected lifespan of 60 years. Nirma beat rival bids from UltraTech, LafargeHolcim, and Star Cement for the Emami Cement assets. ... |
India’s Saurashtra Cement posts Oct-Dec 19 net profit13 February 2020, Published under Cement NewsSaurashtra Cement has reported a net revenue from operations of INR1.52bn (US$21.3m) in October-December 2019 from INR1.58bn in the year-ago period. The company achieved a net profit of INR189.5m in the October-December 2019 quarter, a considerable improvement when compared with the INR6.7m loss reported in October-December 2018. |
HeidelbergCement expects debottlenecking grinding capacity by end March13 February 2020, Published under Cement NewsHeidelbergCement expects to complete its debottlenecking of cement grinding capacity in Imlai (Madhya Pradesh) and Jhansi (Uttar Pradesh) to be completed by 31 March 2020. The project represents an investment of INR207m (US$2.9m) and is being met through internal accruals, according to Accord Fintech. Upon completion the company’s total grinding capacity would reached 6.26Mta. |
Anjani Portland Cement sees profit rise 165%11 February 2020, Published under Cement NewsIndia’s Anjani Portland Cement has seen a 165 per cent increase in net profit to INR62.8m (US$881,229) for the quarter ending 31 December 2019, rising from INR23.7m in the year-ago period. However, net income declined 15 per cent YoY to INR938.1m from INR1.1bn. In the first nine months of the FY19-20, net sales fell 2.5 per cent YoY to INR3.1bn from INR3.18bn. Despite this, profit advanced 177.6 per cent to INR323.1m from INR116.4m. |
India Cements reports net loss in 3QFY19-2010 February 2020, Published under Cement NewsIndia Cements has reported an INR53.7m (US$751,232) standalone net loss in the quarter ending 31 December 2019, compared with an INR31.3m profit in the year-ago period. Total income also declined 4.3 per cent YoY to INR11.94bn from INR12.48bn. EBITDA was down by five per cent YoY to INR1.32bn from INR1.39bn in the 3QFY18-19. Despite this, the drop in EBITDA was reportedly mitigated by a reduction in the variable cost of production. "The overall demand in south is picking up with AP and T... |
Shree Cement is closing in on 50Mta of cement production07 February 2020, Published under Cement NewsThis week it was announced that Shree Cement would enter the market of western India within the next six months . The company is preparing to open a new 2.5Mta grinding plant in Pune, Maharashtra with an investment of US$87.8m. The new plant will receive clinker from its plant in Kodla, Karnataka. Shree Cement has been expected to go on a growth path. As recently as November 2019 it raised more than US$278.36m through a qualified institutional placement (QIP) offering, which was underst... |
Emami Group agrees to sell cement unit to Nuvoco Vistas07 February 2020, Published under Cement NewsIndia’s Emami Group has announced the sale of its 8.3Mta cement business to Nuvoco Vistas (Nirma Group), with the move valued at INR55bn (US$770.56m). "We are very proud of Emami Cement’s achievements in a short span of time and we strongly believe that in Nuvoco, we have found the right acquirer who will be able to develop the business further in the interest of all the stakeholders," said Manish Goenka, director of Emami Group. Emami Cement operates an integrated cement plant and three g... |