Cement News tagged: Corporate
Asia Cement reports 21% decline in 1Q net profit
Taiwan-based Asia Cement Corp posted a revenue of TWD19.681bn (US$659.1m) in 1Q22, up 10.1 per cent from TWD17.877bn in the 1Q21. However, pretax profit declined 27.6 per cent to TWD3.434bn in the 1Q22 from TWD4.744bn in the corresponding period of the previous year. Net profit decreased 21.3 per cent to TWD2.533bn in the first three months of 2022 from TWD3.2bn in the 3M21.
Cheetah Cement ordered closure
Namibia’s labour ministry has ordered Chinese-owned Cheetah Cement plant at Otjiwarongo to stop production due to health concerns. The ministry says a team of occupational safety, health and labour inspectors concluded after an inspection that the company's plant is an unsafe working environment. The ministry's acting executive director, Lydia Indombo, says the ministry identified shortfal...
Robust demand and pricing support 23% revenue advance for Titan in 1Q22
Titan Cement International SA has announced a 22.6 per cent YoY increase in revenue to EUR454.6m in the opening quarter of 2022. This has been attributed to strong pricing across all products and countries, and resilient demand. EBITDA over the same period came in at EUR46.4m, down 17.3 per cent YoY as the phasing in of higher prices only gradually absorbed the increase in energy and input c...
HeidelbergCement reports on a difficult 1Q22
HeidelbergCement recorded sales volumes in most business lines around the same level of the previous year in the 1Q22. At 28.4Mt (previous year: 28.4Mt), group-wide cement and clinker sales volumes remained at the previous year’s level. The consolidation-related decline in sales volumes in North America resulting from the sale of the group's activities in the west region in October 2021 was ...
Votorantim Cimentos earns revenues of BRL4.9bn in the 1Q22
Votorantim Cimentos ended the 1Q22 with consolidated net revenue of BRL4.9bn (US$953.1m), an increase of 22 per cent compared to the same period last year. This was primarily due to favourable price dynamics in Brazil, North America, Europe, Asia and Africa, in addition to the positive effect of new sales volumes resulting from acquisitions made by the company during 2021. In the first qu...
Carbon Clean raises US$150m in latest round of funding
Carbon Clean has closed the largest-ever equity funding round for a point source carbon capture company with US$150m raised from existing investor Chevron. Chevron led the round alongside Cemex Ventures, Marubeni Corp and WAVE Equity Partners, as well as new investors, including AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy. So far, Carbon Clean has raised US$1...
Dalmia Cement (Bharat) Ltd will expand Belagavi cement plant
Dalmia Cement (Bharat) Ltd is expanding its existing manufacturing plant at Belagavi in north Karnataka by investing INR3000m (US$38.3m). The company expects the investment to create up to 700 new jobs by March 2024. “We plan to invest INR2000m to INR3000m in the next two years towards manufacturing expansion, in terms of enhanced production capabilities, and renewing our energy commitm...
Ethiopia prohibits cement plants employing agents to sell cement
The Ministry of Industry in Ethiopia has directed cement factories to exclude agents from the market network ,and sell the product directly, according to Addis Standard. In a letter dispatched to 10 cement factories, the ministry asked the factories to indicate in a letter the names and number of agents they had excluded. State Trade Minister, Hassen Mohammed, told the news outlet that ...
JSW Group to submit bid for Holcim India
JSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of ...
Dalmia Bharat Ltd records rising sales volumes of 22.2Mt in FY22
Dalmia Bharat Ltd reported its FY22, for the period ending 31 March 2022, with sales volumes reaching 22.2Mt compared to 20.7Mt in FY21. The company’s EBITDA totalled INR112,860m (US$1461m) in the FY22 up from INR101,100m in the FY21. However, Dlamia Bharat’s profit after tax reached INR11,600m compared to INR11,860m in the FY22. Dalmia Bharat’s 4QFY22 sales totalled 6.6Mt compared to 6.4...
Inflationary pressures impact Argos results in the 1Q22
Argos ( Grupo Argos ) reports its 1Q22 generated record revenues of COP2.6trn (US$637.8m), up 11.2 per cent, and EBITDA of COP359bn, 17.8 per cent lower than in the 1Q21, mainly due to higher inflationary pressures that impacted costs associated with raw materials, energy, freight, and operational maintenance. The company highlights the very good price performance in all regions, which is expe...
HeidelbergCement parters Giatec Scientific with a minority investment
HeidelbergCement continues to advance its digital transformation by acquiring a strategic minority stake in Canada-based technology company Giatec Scientific through a low single-digit million euro investment. Together with its new partner, HeidelbergCement will drive the development and adoption of industry-leading sensor technology and AI-driven software with the clear target to reduce the...
Pangaea Logistics Solutions Ltd appoints VP Business Development - Ports & Logistics
Pangaea Logistics Solutions Ltd, who provides maritime logistics to transport a wide range of drybulk cargoes such as cement clinker, dolomite and limestone, has appointed Brent Mahana as vice president of business development for its ports and logistics business. Mr Mahana will bring over 30 years of experience in marine transportation, stevedoring, port and terminal management and related...
Loma Negra reports 1Q22 results
Loma Negra saw its net sales revenue decrease by 5.5 per cent to ARS19.3bn (US$171m) in the first quarter of 2022 as cement and concrete sales declined and improvements in aggregates in the railway segment. Consolidated adjusted EBITDA reached ARS6.484bn, down 11.2 per cent when compared with the 1Q21. The EBITDA margin contracted 214 basis points YoY from 35.7 to 33.6 per cent. The net pro...
Cementir's 1Q22 regional results boosted by domestic cement sales
In the1Q22 Cementir’s regional revenues were boosted by Danish sales that reached EUR109m, up 17.7 per cent compared to EUR92.6m in the 1Q21, thanks to sustained demand in all business activities and the increase of sales prices, said Cementir. Cement volumes on the domestic market, both grey and white, increased by around 20 per cent due to growth in all the main market segments, due to ...
Dangote volumes up 4% in 1Q22
Dangote has reported a 24.2 per cent YoY increase in group revenue to NGN413.2bn (US$995.4bn) in the opening quarter of 2022. Group EBITDA over the same period advanced by 18.6 per cent to NGN211bn giving a margin of 51.1 per cent. Sales volumes for the group fell by 3.6 per cent YoY to 7.2Mt as operations relying on cement and clinker imports, namely Ghana, Sierra Leone and Cameroon, were dis...