Cement News tagged: Corporate
UltraTech Cement records net sales of INR117,430m 2QFY22
UltraTech Cement Ltd, an Aditya Birla group company, announced its financial results for the quarter ended 30 September 2021. Consolidated net sales was INR117,430m (US$1558m) compared to INR102,640m over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR28,550m compared to INR28,330m a year ago. Profit before tax was INR19,470m and profi...
Penna Cement receives approval for IPO
India’s Penna Cement has received approval from the Securities and Exchange Board of India for its INR15.5bn (US$206.56m) initial public offering. The IPO includes a fresh issue of INR13bn and an offer for sale of up to INR2.5bn by promoter PR Cement Holdings, which holds a 33.41 per cent stake in the company. The fresh capital is expected to be used for the repayment of borrowings and t...
Ecocem opens low-carbon technology centre
Ecocem has opened a low-carbon R&D centre in Paris, France, to accelerate the development of low-carbon solutions that will support cement and construction industries to decarbonise more quickly. In its new Centre of Excellence, Ecocem will run industrial-scale trials in collaboration with trusted industry partners and universities, including Paris-Saclay University and The University of To...
Yamama Cement Co sees 32% decline in sales
Saudi Arabia’s Yamama Cement Co has posted a 31.6 per cent YoY decline in sales to SAR170.7m (US$45.52m) in the quarter ending 30 September, compared to SAR249.65m in the year-ago period. Net profit was down 58.1 per cent YoY to SAR39.97m from SAR95.32m. In the first nine months of the year, sales fell 21.7 per cent YoY to SAR553.5m while net profit declined 36.1 per cent to SAR172.5m.
Votorantim Cimentos completes Cementos Balboa acquisition
Brazil-based Votorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, has announced the acquisition of Cementos Balboa. Cementos Balboa has a modern integrated cement plant located in Alconera, in the province of Badajoz, with an installed production capacity of 1.6Mta. With this facility, Votorantim Cimentos complements its current operations in Spain and expects to increa...
Big Boss Cement reportedly suspends operations
Philippine-based Big Boss Cement has reportedly suspended business operations, according to a source for The Philippine Daily Inquirer. The shutdown, taken so the company can rehabilitate its production facilities, is expected to last until next year. Big Boss Cement had plans to double capacity to around 2.4Mta by 2020 and ordered a modular grinding plant last May .
Figuil plant to be expanded by 0.5Mta
Cameroonian Prime Minister, Joseph Dion Nguté, laid the first stone of the new 0.5Mta production line of Cimenteries du Cameroun (Cimencam) in Figuil, in the northern part of the country, last week. Cimencam (Holcim group) has invested around CFAF50bn (US$88.3m) in the project. The new production unit is expected to be ready for commissioning in 24 months, at the end of 2023. It will exp...
Carthage Cement sees 39% hike in 9M revenue
Tunisia-based Carthage Cement saw its revenue in the 9M21 jump by 39 per cent YoY to TND239.2m (US$85.4m), according to ilBoursa. The company has attributed the increase to a surge of cement and clinker exports, which advanced from TND2.2m to TND32.9m. Domestic sales reached TND185.6m at the end of September 2021, up 22 per cent when compared with sales of TND151.8m at the end of September...
Rain Cements completes grinding expansion project
India’s Rain Cements (Rain Industries) has completed a capacity expansion at its cement mill in Boincheruvupalli village, Kurnool District, Andhra Pradesh. The unit’s cement grinding capacity has now been increased from 2.033Mta to 2.795Mta.
LafargeHolcim Côte d’Ivoire to launch white cement in 2Q22
LafargeHolcim Côte d’Ivoire plans to launch a white cement in the second quarter of 2022, according to Rachid Yousry, the company’s managing director. It will be the first cement producer in the country to produce this type of cement. To date white cement has been imported into Côte d’Ivoire and this expected to continue for at least up to the launch date of the new product.
Oman Cement reports flat net profit in 9M21
Oman Cement has posted a net profit after tax of OMR2.8m (US$7.28m) in the first nine months of the year, which is flat compared to OMR2.8m seen in the year-ago period. Total revenue for January-September 2021 was down 9.3 per cent YoY to OMR35.3m from OMR38.9m in the 9M20.
UltraTech Cement commissions 1.2Mta of new capacity
India’s UltraTech Cement has commissioned 1.2Mta of new cement capacity, which is the first phase of the 19.5Mta capacity expansion project announced in December 2020. Additional cement capacity of 0.6Mta was commissioned at its Patliputra cement works in Bihar, which takes the unit’s capacity to 2.5Mta. The remaining 0.6Mta was put into operation at its Dankuni facility in West Bengal, takin...
Cemex USA upgrades terminals in Florida
Cemex USA has invested US$8m to improve two cement terminals in Florida, which has enhanced its supply chain network to meet increased cement demand in the region. The company upgraded its Pensacola terminal to allow cement and cementitious materials to be imported from its global operations. The upgrades, which were brought online in May, mean an additional cement supply will be provid...
Cemex announces release of secured notes under the Facilities Agreement
Cemex has announced that the collateral that guarantees Cemex's debt under its main bank agreement and its senior secured notes have been released. Under Cemex's Facilities Agreement of July 2017, the release of collateral was automatically triggered after Cemex previously reported two consecutive quarters with a consolidated leverage ratio of 3.75x or less. “We are very pleased with thi...
Exergy International appoints a new CEO
Dario Puglisi is Exergy International's new Chief Executive Officer Exergy International, a leading provider of new-generation ORC power plants, a company jointly invested in by Tica Group and Golden Eagle Group, has named Dario Puglisi as Chief Executive Officer. In his role, Dario Puglisi will lead the company and its management on a new path of growth and development in ...
UNACEM acquires Cementos La Union's operations in Chile
Spain-based Cementos La Unión has closed a deal to sell its operations in Chile to UNACEM, following approval from the National Economic Prosecutor of Chile (FNE) last March. The transaction is valued at US$23m, which includes both the value of the purchase and the existing debt of the subsidiary. The acquisition will see the transfer of a 300,000tpa grinding and packing plant located i...