Cement News tagged: Corporate
Adani in talks to acquire Jaiprakash cement unit
Adani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place...
Adani Group to invest US$848m in Rajasthan cement
India’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped n...
Dangote responds to Obajana plant closure
Dangote Cement Plc wishes to enlighten stakeholders and the public on the recent shutdown at its Obajana Cement plant in Kogi State. Dangote Cement said, "thugs and local vigilantes from the State Government invaded and sealed the Obajana Cement plant [last Wednesday] over alleged claims of unpaid taxes and Kogi State Government purported equity interest in Dangote Cement PLC. This d...
China Resources Cement releases profit warning
China Resources Cement has issued a profit warning, stating that the company expects its profit attributable to the owners to contract by 64-66 per cent in the 9M22, compared to the same period a year earlier. The company is currently in the process of finalising its unaudited consolidated results for the opening nine months of this year, which are due to be published on 21 October, 2022. ...
Mill breakdown at Umm Al-Qura Cement
Umm Al-Qura Cement reported a breakdown of its cement mill No 1 on 9 August, which led to a mill stoppage and a reduction in cement sold by 1161tpd, according to a bourse statement. The Saudi Arabian manufacturer is currently repairing the component failure, which could take a year to complete, according to an expert report from the company. Consequently, Um Al-Qura Cement has increas...
Fecto Cement reports 37% revenue growth
Fecto Cement ’s net sales revenue in the 2022 financial year came in at PKR6775m (US$30.8m), compared to PKR4961m in the previous year, marking a YoY increase of 36.56 per cent. Over the same period, net local sales revenue advanced to PKR6602m, versus PKR4653m, representing YoY growth of 41.89 per cent, against an increase in gross sales revenue of 33.5 per cent and local sales volume growth...
Steppe Cement reports 9% increase in revenue in 3Q22
Kazakhstan's Steppe Cement Ltd has posted a nine per cent YoY increase in revenue in the 3Q22. Revenue came in at KZT13,071m (US$27.7m) compared to KZT12,045m in the same period last year. In the 9M22, revenue was KZT32,651m, up 13 per cent YoY from KZT28,812m in the 9M21. The company sold 546,327t of cement in the 3Q22, up two per cent YoY. In the opening nine months of this year, sales...
Thatta Cement dispatches up 68% YoY
Pakistan's Thatta Cement has reported net sales of PKR4.26bn (US$19.3m) in the 2022 financial year (ended 30 June, 2022), compared to PKR2.43bn in the previous year. Gross profit came in at PKR320m, down on the PKR384m seen in 2021, while profit for the year was PKR119.3m in 2022, versus PKR201.8m in 2021. According to the company, 2022 saw a better performance despite tough market condi...
Holcim acquires Wiltshire Heavy Building Materials
Holcim has acquired UK-based Wiltshire Heavy Building Materials, a leading building solutions and material circularity company with net sales of over CHF20m (US$20.2m) in 2021. Driving circular construction, Wiltshire recycles 150,000t of construction and demolition waste (CDW) each year into aggregates and concrete with its state-of-the art material recovery system. Miljan Gutovic, regi...
Hoffmann Green signs 3-year deal to supply clinker-free cement
France-based Hoffmann Green Cement Technologies has signed a three-year deal to supply its clinker-free and low energy cement H-EVA SOL to OTE, a specialist in energy and digital networks, civil engineering, and power plant construction. According to Business Wire, Hoffmann Green will supply OTE with its carbon-free activated clay-based cement, H-EVA SOL, as part of the 'Greenpose' proces...
ENVEA Global appoints new CEO
ENVEA Global, ambient, emissions monitoring and proces system manufacturer, has appointed Trevor Sands as its new CEO. Trevor has extensive senior leadership experience in global industrial businesses. He was most recently Global President of Servomex Group, the global expert in gas analysis. Prior to this he ran the Control Valves business for IMI plc, he was Chief Executive of Cosalt ...
Dewan Cement appoints new CFO
Pakistan's Dewan Cement has appointed Hazrat Ali as its chief financial officer. He succeeds Imran Ahmed Javed. The cement producer currently operates two plants in Pakistan - a 1.7Mta integrated works in District Malir , Sindh, and a 1.13Mt integrated unit in District Haripur , Khyber Pakhtumkhwa.
Holcim partners with TotalEnergies to fully decarbonise Obourg plant
Holcim has signed a Memorandum of Understanding (MoU) with TotalEnergies to work together to fully decarbonise the cement producer’s Obourg plant in Belgium. In a bid to create the first carbon-free cement plant in Belgium, various energies and technologies will be assessed for the efficient capture, utilisation, and sequestration (CCUS) of around 1.3Mt of CO 2 emitted by the facility ev...
Dangote's Obajana cement factory closed off
Dangote Cement's Obajana cement factory in Kogi state, Nigeria, has been sealed off by Kogi State Internal Revenue Service (KGIRS). The plant has been closed off because KGIRS is investigating the company over tax evasion and acquisition controversy, according to Politics Nigeria. In explaining the action, Kingsley Fanwo, the Kogi State Commissioner for Information, said: “Pursuant to th...
Saint-Gobain and Ecocem join forces to speed up delivery of low carbon products
Saint-Gobain and Ecocem have announced a major partnership focused on accelerating the delivery of low carbon products to market. Designed to reduce CO 2 emissions from cement, mortar and concrete, these products will support the acceleration of the construction industry’s transition to a low-carbon economy. Commenting on the partnership, Benoit Bazin, chief executive officer of Saint-Go...
BillerudKronäs to shorten its name to Billerud
Packaging supplier to the cement industry, BillerudKronäs, is changing its name to Billerud from 12 October 2022. The name change symbolises the company’s growth agenda as well as its development into an even more international company. The legal entities are not impacted in any other respect except that they change name from 'BillerudKorsnäs' to 'Billerud', according to the company.