Cement News tagged: Corporate
Lafarge to face charges for paying Islamic state in Syria
A French appeals court has confirmed that the cement giant Lafarge must face charges of complicity in crimes against humanity over alleged payoffs to Islamic State group and other jihadist groups during Syria's civil war, reports France 24. Lafarge, now part of Holcim group , has acknowledged that it paid nearly EUR13m (US$13.7m) to middlemen to keep its Syrian cement factory operating in ...
Titan Group invests US$37m in Norfolk import terminal
Titan Group is expanding its effective capacity in the USA with a new US$37m investment in its Norfolk import terminal in Virginia. The investment will upgrade Titan’s import capacity in the country while also allowing it to continue expanding its offering of low-carbon cement and cementitious products, contributing to the group’s net-zero goal. The Virginia investment, which is expected to...
HeidelbergCement joins First Movers Coalition
HeidelbergCement has joined the First Movers Coalition (FMC), a public-private partnership between the US State Department, the World Economic Forum and forward-thinking companies from different industry sectors. “We are pleased to actively engage with the First Movers Coalition, and to make a concrete impact towards our joint goals of accelerating new technologies on the way to net-zero,...
Hail Cement posts 1Q22 sales losses of SAR6.9m
Saudi Arabia's Hail Cement Co has reported losses of SAR6.9m (US$1.8m) in the 1Q22 after it witnessed a drop in sales. The cement producer had made profits of SAR25.9m in the same period last year, but a 16 per cent decline in sales weighed on the current year’s results, a bourse filing showed. The company's revenue went down from SAR82m to SAR69m YoY. Hail Cement also attributed the resu...
UltraTech Cement opens second clinker line at Hirmi
UltraTech Cement , the country’s largest cement producer, has added 2.7Mta of capacity by commissioning a second clinker line at Hirmi Cement plant in Chhattisgarh. The company will add another 1.3Mta of capacity at the same plant by the June quarter. The commissioning of the clinker unit was completed well ahead of schedule and is a unique achievement considering the slowdown faced in p...
Star Cement posts net profit rise
Star Cement Ltd saw a 24.2 per cent advance in revenues to INR7.49bn (US$96.6m) in the January-March 2022 quarter from INR6.03bn in the corresponding period of the previous year. The company’s net profit increased 3.6 per cent to INR884.2m in the 1Q22 from INR853m in the 1Q21.
Government looks to dispose of Adilabad cement plant
It may soon be the end for the Cement Corporation of India ’s Adilabad plant as the government has taken initial steps for its disposal. Online electronic bids are being invited for the appointment of valuers for the valuation of assets required for the disposal of the plant, machinery along with plant’s structure, store and scrap and dismantling at its cement factories in Akaltara and Man...
Multiple potential buyers for Holcim Russia
More than 30 potential buyers have expressed an interest in Holcim’s Russia business, according to Jan Jenisch, CEO, Holcim. Holcim announced in March that it plans to exit the Russia market following the country’s invasion of Ukraine. “The process has started, it has to be done with very great diligence. We have had many inquiries,” Mr Jenisch told Reuters. “We don't expect to write...
Boral and Calix join forces on carbon capture project
Boral is partnering with Calix on a new carbon capture project designed to capture up to 100,000tpa of carbon emissions from Boral’s Southern Highlands plant in New South Wales, Australia. Backed by AUD30m (US$21.1m) in funding from the federal government’s carbon capture and technologies hub, Calix’s low emissions intensity lime and cement (LEILAC) technology will be installed at the plant....
Arabian Cement 1Q profits see 37% drop
Arabian Cement’ s net profit after zakat and tax declined 37 per cent YoY to SAR41.9m (US$11.2m) in the first quarter of 2022. When compared with the fourth quarter of 2021, net profits surged by 79.3 per cent from SAR23.3m. Revenues decreased 19.3 per cent YoY to SAR259.3m in the 1Q22 from SAR321.5m, according to a bourse filing. When compared with the previous quarter, 4Q21, revenues edge...
Adani Group acquires Holcim India
Adani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concret...
Holcim to acquire Izolbet of Poland
Holcim has entered an agreement to acquire Izolbet, one of the leading players in the specialty building solutions market in Poland. Izolbet has delivered double-digit growth in sales and EBITDA over the last three years. The acquisition will strengthen Holcim’s footprint in the highly attractive market for renovation, thermal insulation and finishing, and will complement Holcim’s r...
Buzzi Unicem reports 3% uptick in cement sales in 1Q22
In the opening quarter of 2022, Buzzi Unicem saw its cement sales advance by 2.9 per cent YoY to 6.36Mt (1Q21: 6.19Mt). Ready-mixed concrete sales over the same period improved by six per cent to reach 2.69Mm 3 . Consolidated net sales over the opening quarter of the year came in at EUR800.1m, marking a 17.2 per cent YoY increase, which the company attributes to favourable trends in volumes ...
HeidelbergCement's announces dividend and new appointments at AGM
HeidelbergCement held its 133rd Annual General Meeting on Thursday 12 May 2022 in virtual form announcing that f or the 2021 financial year, the shareholders will receive a dividend of EUR2.40 per share (previous year: EUR2.20). Total distribution amounts to around EUR458m. The dividend will be paid on 17 May 2022. Dr Dominik von Achten, chairman of the Managing Board, said with re...
Votorantim Cimentos' see net revenue regional rises in Brazil and North America
In Brazil Votorantim Cimentos ’ net revenue in the 1Q22 was BRL2.7bn (US$525.6m), a 21 per cent increase compared to 1Q21. Despite the instability of the local market, macroeconomic pressures and the strong basis for comparison with the same period last year, the increase in revenue was primarily due to the combination of higher sales volume and price. Adjusted EBITDA in the quarter was...
Eastern Province Cement sees 52% drop in 1Q profits
Saudi Arabian cement producer Eastern Province Cement Co reported a net profit after zakat and tax of SAR29m (US$7.7m) in the 1Q22, down 51.7 per cent YoY. Revenues declined 25.8 per cent YoY to SAR161m in the 1Q22 from SAR217m.