Cement News tagged: Corporate
Ozinga inflates cement storage silo at Palm Beach
Ozinga, a fourth-generation family-owned construction materials company, has erected a cement storage facility on its location at the Port of Palm Beach, USA. The process to inflate the silo began at 2.00h and took approximately three hours to complete. The structure’s custom appearance is the result of a cooperative effort between Ozinga, the Port of Palm Beach and the City of Riviera Beach ...
SONACIM names new MD and deputy MD
Elhadj Bineye Emma has been appointed the new managing director of Société Nationale de Ciment (SONACIM) in Chad by Decree 1319 of 23 May 2022. He will succeed Ahmat Issakha Diar. The decree also sees the appointment of Koye Ndaye Benoit as deputy MD, replacing Kone Allah-Ridy.
Gilinski launches offer for sizeable Grupo Argos stake
In Colombia business tycoon Jaime Gilinski has launched a public acquisition offer for a sizeable stake in Grupo Argos. Mr Gilinski is seeking a stake of 26-32.5 per cent of Argos, which is the third company on the business magnate’s radar. He is willing to pay around 18 per cent more on the Argos share price, reported Notices Financieras. “The purchase price for each share will be US$4.08,”...
HeidelbergCement India posts 7.2% uptick in revenue in FY22
HeidelbergCement India has recorded a one per cent YoY increase in revenue (net of taxes) to INR5867m (US$75.65m) in the first quarter of 2022. EBITDA over the same period has fallen 22.1 per cent to INR1186m, with the EBITDA margin contracting from 26.2 to 20.2 per cent. Profit after tax in the 1Q22 came in at INR936m, down 33.1 per cent YoY. EBITDA per tonne stood at INR961, a decline of 21 ...
Cementos Melon inaugurates new grinding unit
Chile-based Cementos Melón has officially inaugurated its new grinding unit about 8.5km north of Punta Arenas in the country’s southern Magallanes region. The new 0.25Mta plant represents an investment of US$45m and is expected to produce 80,000t of cement in its first year as it ramps up capacity. At the inauguration, Cementos Melón General Manager, Jorge Eugenín, said: “For us Magallan...
Holcim adds ready-mix company to its US portfolio
Holcim has acquired Cajun Ready Mix Concrete, the largest in its sector in the Baton Rouge metropolitan area, Louisiana, USA. The transaction will integrate Cajun's expertise along with its eight ready-mix concrete plants, 108 employees and 51 mixer trucks. Region Head North America, Toufic Tabbara, said: “This acquisition expands our footprint in the dynamic Baton Rouge market, confirmin...
Shree Cement sees 4% increase in revenue in 1Q22
Shree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year. According to BusinessLine Online, the gro...
Bestway Cement Ltd plans greenfield Punjab plant
Bestway Cement Ltd has announced its plans to setup a greenfield cement plant with a capacity of 7200tpd of clinker in Punjab province, Pakistan, along with 9MW waste heat recovery plant. Bestway Cement has entered into an agreement with Sinoma International Engineering Co of China for engineering, procurement and construction (EPC). “In view of increasing demand for cement in the coun...
Najran Cement reports 24% fall in revenue in 1Q22
Najran Cement Co has recorded a 61.41 per cent YoY decline in net profit in the opening quarter of 2022. Net profit after zakat and tax came in at SAR23.28m (US$6.21m) in the 1Q22, compared to SAR60.34m in the same period a year earlier. Earnings per share in the first quarter of 2022 were SAR0.14, versus SAR0.35 in the same quarter a year earlier. According to Mubasher, revenue over th...
Nuvoco Vistas Corp sees 24% increase in revenue in FY21-22
India-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022. Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m. Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22. Commenting on the ...
Yanbu Cement sees 17% fall in 1Q22 revenue
Yanbu Cement has reported a 17.4 per cent YoY decline in revenue to SAR242m (US$64.53m) in the opening quarter of 2022. However, this was still above the SAR224m estimated by Al Rajhi Capital. Gross profit over the same period contracted by 33 per cent YoY, while operating profit fell by 41.4 per cent, according to Trade Arabia. The Saudi company attributes the decline to a 6.7 per cent...
JK Cement 4Q net profit advances 36%
Indian cement producer JK Cement reported a standalone net profit of INR862.6m (US$11.1m) for the quarter ended 31 March 2022, representing an increase of 36.2 per cent when compared with the 1Q21 when net profit reached INR633.4m. Net revenue increased 10.6 per cent to INR22.689bn in January-March 2022 ffrom INR20.525bn in the year-ago period. However, operating expenses were up 16.9 pe...
Eagle Materials reports 15% increase in revenue
Eagle Materials has reported record revenue of US$1.9bn in the FY22, up 15 per cent YoY. Net earnings advanced by 10 per cent to US$374.2m over the same period, while adjusted EBITDA from continuing operations improved by 15 per cent to reach US$657.4m. In the fourth quarter of the FY22, revenue increased by 20 per cent YoY to another record of US$413.1m, with net earnings advancing by 13 per ...
HeidelbergCement buys 50% share in CBI
HeidelbergCement has signed an agreement to acquire 50 per cent of shares of and invest into Continental Blue Investment SA (CBI) who controls the Ghanaian cement producer CBI Ghana . With this step, the HeidelbergCement will take part in the construction of the world’s largest flash calciner. In addition, HeidelbergCement will strengthen its presence in Ghana through CBI’s ceme...
Southern Province revenue down 25% in 1Q22
Saudi Arabia-based Southern Province Cement Co has posted a revenue of SAR330m (US$88m) for the first three months of 2022. This represents a 25 per cent drop when compared with the 1Q21. Cement sales volumes were down 23.7 per cent YoY to 1.6Mt. Gross profit declined 42.3 per cent YoY while operating profit decreased 47 per cent YoY in the 1Q22. Gross margins were down to 32.2 per cent in...
Cement giants in the running for Sika admixture business
Holcim and HeidelbergCement are reportedly among the companies competing for Sika AG’s US admixtures business, which is believed to be valued at US$800m-1bn. Sika is selling off the asset to satisfy regulatory approval following its US$5.6bn purchase of German-based MBCC Group, formerly BASF Construction Chemicals, from an affiliate of Lone Star Funds in November 2021. According to Bloomberg, ...