Cement News tagged: Corporate
Carbon8 appoints chief engineer
Carbon8 System has appointed David Clemmitt as its chief engineer. David will be responsible for leading the engineering direction and execution of Carbon8 Systems’ Advanced Carbonation Technology (ACT) across global markets. As part of his role, Mr Clemmitt will have ownership of growing and developing the engineering function of the company to provide world class capability and inno...
Hongshi Shivam Cement looks to double capacity
Nepal’s Hongshi Shivam Cement has announced an additional NPR20bn (US$167.34m) investment to increase production capacity, according to the New Business Age. The company currently has 6000tpd of capacity and is looking to produce an additional 6000tpd. The joint venture will see its Chinese investor contribute 70 per cent of the investment while the Nepali partner will supply the remainder. ...
Mangalam Cement sees 17% revenue increase
India’s Mangalam Cement has reported a standalone net profit of INR110.7m (US$1.49m) in the 2QFY21-22, falling 48.1 per cent YoY from INR213.3m in the year-ago period. However, net revenue advanced 17.2 per cent YoY to INR3.76bn from INR3.21bn in the 2QFY20-21.
Cementos Molins signs novation of syndicated sustainable financing
Cementos Molins signed a renewal of its sustainable syndicated financing for the group and affiliates in Spain, which was formalised in 2019. The novation continues to be classified as a “sustainability-linked loan” extends the maturity by two years until December 2026. In addition, the agreement now has a limit up to EUR300m, of which EUR75m as a term loan and EUR225m as revolving credit faci...
UltraTech Cement Ltd wins global marketing award
UltraTech Cement Ltd has been recognised with a Silver award at the Mobile Marketing Association’s (MMA) Smarties X awards 2021. MMA Smarties X is the first global marketing award recognising Innovation in mobile marketing. UltraTech won the award in the ‘Cross Mobile Integration’ category, which primarily recognises campaigns that integrate a minimum of three mobile applications or medi...
Çimsa joins Oficemen
Çimsa has joined the Spanish cement manufacturers association, Oficemen. The Turkish company has recently started its production activity in Spain, after the acquisition of the white cement factory in Buñol, Valencia, from the Mexican group Cemex. With a production capacity of nearly 0.6Mta, the Buñol plant is among the most technologically advanced in Europe. "With the integration of ...
Mangalam sees 1H net profit up 82%
India-based Mangalam Cement announced its unaudited financial results for the quarter and half year ended 30 September 2021. In the quarter ended 30 September 2021 (2Q21) the company saw revenues from operations advance 15.7 per cent to INR3.757bn (US$50.5m) from INR3.246bn in the 2Q20. Total revenues were up 5.9 per cent to INR3.84bn from INR3.625bn. However, profit before tax decreased 43....
Universal Cement sees 12% increase in revenue
Taiwan’s Universal Cement has announced a 12.2 per cent YoY increase in revenue to TWD1.45bn (US$52.32m) in the third quarter of 2021, compared to TWD1.29bn in the comparable period of last year. However, its net profit declined 50.5 per cent to TWD194m from TWD392.1m in the 3Q20.
Misr Cement (Qena) announces 168% surge in profit
Egypt’s Misr Cement (Qena) has reported a 168 per cent YoY surge in consolidated net profit during the first nine months of 2021, reaching EGP107.4m (US$6.84m) from EGP40.11m in the comparable period of 2020. Standalone net profit also advanced 78.9 per cent to EGP80.77m against EGP45.15m in the 9M20.
Arabian Cement Co announces contraction in net loss
Egypt’s Arabian Cement Co has announced a consolidated net loss of EGP23.21m (US$1.48m) during the first nine months of 2021, an improvement from the EGP39.77m net loss seen in the 9M20. The standalone net loss reached -EGP24.53m against -EGP38.25m in the January-September 2020 period.
FLSmidth appoints a new CEO effective from 1 January 2022
Thomas Schulz, FLSmidth’s Group CEO, has made the decision to take a role outside of the company, and will therefore step down as FLSmidth’s CEO by end of 2021. Mikko Keto, who joined FLSmidth in January 2021 as President of FLSmidth’s Mining business and member of Group Executive Management, has been appointed incoming CEO by FLSmidth’s Board of Directors, effective 1 January 2022. Vagn...
Cementir reports revenues of EUR1bn in 9M21
Cementir has released its results for the first nine months and the 3Q21. Group revenue reached EUR1bn, up 12.4 per cent compared to EUR896.8m in the first nine months of 2020. Operating costs, equal to EUR804.9m, increased by 11.7 per cent compared to EUR720.3m in the first 9M20. During the first 9M21, cement and clinker sales volumes reached 8.3Mt, up by 8.2 per cent compared to the...
Loma Negra reports 9% increase in 3Q revenue
Argentina’s Loma Negra has reported an 8.5 per cent YoY increase in revenue to ARS17,800m (US$176m) in the third quarter of 2021, against ARS16,399m in the comparable period of 2020. Consolidated adjusted EBITDA declined 9.1 per cent to ARS4696m from ARS5167m, while the margin fell to 26.4 per cent from 31.5 per cent. Net profit also decreased 84.9 per cent YoY to ARS1490m, mainly due to an e...
Titan Group reports 9M21 revenues of EUR1.26bn
Titan Group's consolidated revenue for the first nine months of 2021 reached EUR1.26bn, posting a five per cent increase on the 9M20. Revenue growth in local currencies was 10.1 per cent, while EBITDA came under pressure to registering EUR219.6m, a 4.3 per cent decline. Revenue in the USA recorded a 8.7 per cent increase in US dollar terms in the first 9M21, translated into a correspo...
Taiheiyo Cement posts 6% net profit rise
Japan’s Taiheiyo Cement has seen a 19.2 per cent YoY decline in revenue to JPY339.8bn (US$2.98bn) in the first half of the FY21-22 ended 30 September, compared to JPY420.63bn in the year-ago period. However, net profit rose 5.6 per cent to JPY19.49bn from JPY18.46bn in the 1HFY20-21.
Votorantim Cimentos records regional 3Q21 performance rise in US and Brazil
In Brazil Votorantim Cimentos' net revenue in the 3Q21 was BRL2.9bn (US$529.3m), an increase of 24 per cent compared to the 3Q20. Adjusted EBITDA was BRL672m an increase of 11 per cent compared to the same quarter last year. The positive results in Brazil in the 3Q21 were primarily due to growth in sales volume and prices, even when considering the strong comparison base in 3Q20 and ...