Cement News tagged: Corporate
Savannah Cement seeks KES40bn to fund new clinker plant
Savannah Cement , Kenya, wants to raise KES39.7bn (US$350m) via a bond on the London Stock Exchange to build a clinker production plant. The firm has been relying on imported clinker to meet cement demand. Savannah Cement Chief Executive Samson Shivina said that the firm expects the plant to be completed by mid-2024. "This is entirely being financed by a bond on the London Stock Exchang...
Carthage Cement turnover rises by 29 per cent in 2021
Carthage Cement , Tunisia, finished 2021 with a total turnover of TND325m (US$112.9m), up 29 per cent compared to 2020 and 30 per cent compared to 2019. This performance helped Carthage Cement to keep its leading position on the local market by achieving a 14 per cent rise in the local market share of revenues compared to 2020. A strong recovery was also recorded for exports of cem...
Holcim transitions leading US plants to blended cement production
LafargeHolcim US (Holcim group) has announced that its cement plants in Ste Genevieve and Alpena, Michigan, have transitioned to OneCem ® Portland limestone cement (PLC) production, following the successful transition of the company's cement plant in Midlothian, Texas, last year. Portland limestone cement is a blended cement with a higher limestone content, which results in a product tha...
Holcim issues two sustainability bonds
Holcim Ltd (Switzerland) has successfully issued two sustainability-linked bonds in the Swiss franc market, with climate action at the heart of its financing strategy. The bonds raised CHF325m (US$355.1m) and CHF100m, with maturities in 2026 and 2032 respectively at a cost of 0.35 per cent and 0.90 per cent per annum. Géraldine Picaud, Holcim CFO: "We are proud to be the first company ...
Tokyo Cement lays foundation stone for expansion project
The Management of Tokyo Cement Company (Lanka) PLC recently laid foundation for a factory expansion project in Trincomalee, to increase its manufacturing capacity by a further 1Mta. The project scheduled to be completed by early 2023 will bring Tokyo Cement Group’s total installed capacity to 4Mta, firmly establishing the Company’s position as the largest manufacturer of cement in Sri Lanka. ...
Fitch Ratings upgrades Argos from stable to positive
Argos, a Grupo Argos cement company, received an upgrade in its credit rating outlook, going from 'Stable' to 'Positive' according to Fitch Ratings, an international credit rating agency. The positive outlook granted by Fitch Ratings reflects the good performance of Cementos Argos and the expectation that the generation of operating cash flows will continue with a growth trend, a trend that...
Alcoa to extend quicklime supply to Cockburn Cement Ltd
Cockburn Cement Ltd (CCL), an Adbri company, is looking forward to continuing to work with Alcoa around the supply of quicklime to its operations in Western Australia. Adbri announced that CCL has reached an agreement with Alcoa for the supply of quicklime until 31 January 2023, when the existing arrangement ends on 31 January 2022. Adbri said, “The extension reinforces CCL’s posit...
UltraTech Cement consolidated net sales reach INR127.1bn in 3QFY22
UltraTech Cement reports that its consolidated net sales was INR127.1bn (US$1.71bn) in the 3QFY22 when compared with INR121.4bn over the corresponding period of the previous year. Profit after tax jumped eight per cent to INR17.08bn from INR15.84bn. There is a one-time gain of INR5350m in tax for earlier years. After gaining pace in October 2021, demand slowed substantially in November, ...
w&p Zement virtually accessible
As part of its digitalisation drive, Austrian cement producer w&p Zement is enabling those interested in cement production can now visit three of the company’s locations using their computer or smartphone. At the heart of this step towards external transparency is innovative 3D photo technology. Visitors can also “enter” areas that are normally out of bounds during regular tours for securi...
Dalmia Cement (Bharat) commences commercial production at Murli
Dalmia Cement (Bharat) (DCBL), (Dalmia Bharat group), has commenced commercial production at its Murli cement plant in Chandrapur district, Maharashtra, India. The company acquired the plant for INR4100m (US$55.2m) and further committed to invest INR9290m for the revival, modernisation, expansion and installing green manufacturing equipment such as waste heat recovery systems, solar power, ...
Steppe Cement sees 16% hike in revenue in 2021
Kazakh cement producer Steppe Cement saw its revenue increase 16 per cent to KZT36.02bn (US$82.7m) in 2021 as it sold 1,688,544t of cement, up from the 1,645,744t reported in 2020. The company’s domestic market share was 13.9 per cent. Exports fell by 57.2 per cent to 86,500t from 202,000t in 2020. In addition to increased sales volumes, the company was also able to benefit from a 13 per cen...
Hima Cement suspends operation after fire kills three
Operations at the Hima Cement factory (Holcim group) in Kasese district in western Uganda have been suspended following a fire that broke out at the premises on Saturday afternoon and left three staff members dead. Eight others were rushed to hospital in critical condition. "Our operations at the Hima plant have been stopped as we take stock of this incident and to ensure that the fire is f...
Dragon Products ends rail shipments from South End spur
Dragon Products has stopped shipping cement along the Rockland South End rail line in Maine, USA. A representative of the cement manufacturer in Thomaston said the last planned shipment by barge from the South End marine terminal in Rockland departed on 13 January 2022. The company announced in August 2021 it would stop barge shipments and would stop using the South End Rockland rail spur. ...
Holcim switches two US plants to low-carbon PLC
Holcim in the US has announced that its cement plants in Ste Genevieve, Bloomsdale, Missouri, and Alpena, Michigan, are now producing OneCem® Portland limestone cement (PLC), following the successful transition of the company’s Midlothian plant in Texas in 2021. "As demands on the industry to reduce its carbon footprint intensify, we find ourselves with an unparalleled opportunity to build a...
HeidelbergCement schedules second tranche of share buyback programme for 1Q22
HeidelbergCement will continue its share buyback programme earlier than originally planned. The second tranche in the amount of EUR300-350m is scheduled to start in the 1Q22 and to be completed by the 3Q22 at the latest, says the company in a statement. Upon the successful completion of the first tranche in December 2021, HeidelbergCement’s Managing Board decided on 13 January 2022 to cancel...
Holcim Costa Rica wins Positive Packaging Certification
As part of its efforts aimed at operating as a responsible company with the environment and with people, Holcim Costa Rica became the first subsidiary of Holcim in the world to obtain the Positive Packaging distinction, by recovering 14,000t of paper from various classes to co-process them as energy and compensate for the 1500t emitted in their packaging. "Costa Rica is a benchmark in su...