Cement News tagged: Corporate
China Tianrui Group Cement shares drop 99%
China Tianrui Group Cement Co Ltd shares fell 99 per cent to around HKD0.05 (US$0.006) on 9 April, pushing its market capitalisation to HKD141m. About 281m, a third of the company’s shares, changed hands during the sell-off. Of this total, more than 80m shares were traded in the last minutes of the closing auction. The Cayman Island-incorporated company said trading in its Hong Kong-listed sha...
Texas Lehigh Cement and Eagle Materials to launch slag cement facility
Heidelberg Materials North America has announced that its Texas Lehigh Cement Co LP subsidiary, a 50-50 joint venture with Eagle Materials Inc , will start production this summer at a new slag cement facility in Houston, Texas, USA. Construction of the new slag cement facility is nearlng completion and the new unit is expected to have a manufacturing capacity of approximately 0.5Mta. I...
SCG to develop biochar-infused cement
Siam Cement Group (SCG) is collaborating with Biochar Life, a pioneer in biochar technology for environmental sustainability, to develop biochar-infused cement and other sustainable building materials. The two companies have signed a Memorandum of Understanding (MoU) that targets four areas: innovative development, supply chain integration, research and sustainability, and smallholder impact...
Argos Honduras breaks clinker production record in 2023
Argos Honduras has set a new record in clinker production in 2023, increasing clinker output by three per cent. The company attributes the new record to the successful implementation of its US$1.1m hydrogen injection project. The process is carried out using renewable energy from its solar farm at the Piedras Azules plant in Comayagua, which enables the cement plant to replace up to 22 p...
City and Umm Al-Qura Cement agree to date extension of swap deal
City Cement Co last week announced an update at the Saudi Stock Exchange (Tadawul) regarding extending a non-binding Memorandum of Understanding (MoU) concerning a securities swap deal with Umm Al-Qura Cement Co. Accordingly, it has been agreed with Umm Al-Qura Cement Co to extend this memorandum with the same previous terms and conditions for an additional six months from the date of e...
West Pokot clinker plant finally launched
The much delayed KES45bn (US$346.6m) Devki Group West Pokot clinker plant was finally launched on Monday by Kenya's President William Ruth. The new plant will process up to 6000tpd of clinker or 2Mta, with clinker deliveries sent to finish grinding at Simba Cement’s Eldoret grinding plant, which is currently under construction. The West Pocket plant originally started construction in 201...
Trinidad Cement post-tax profit soars in 2023
Trinidad Cement Ltd (TCL) saw revenue increase by 8.2 per cent YoY to TTD2.229bn (US$328.8m) from TTD2.061bn in 2022. EBITDA slipped by one per cent YoY to TTD514m, of which 85 per cent was attributed to the Jamaican operations, according to David Inglefield, the company's chairman. “Guyana also continues to improve its profitability with an increase in EBITDA of over 53 per cent compared...
Holcim US invests US$20.5m in Fremont low-carbon cement storage
Holcim (US) has expanded its low-carbon cement storage capacity with a 50,000t storage dome in Fremont, Nebraska, USA. Located on a 10.1ha (25 acre) plot, the 35.4m (116ft) cement storage dome will enable the company to make its ECOPlanet low-carbon cement available. "Nebraska, Omaha in particular, and nearby Midwest cities are experiencing an influx of construction projects, with new infr...
Steppe Cement posts 24% drop in 1Q revenue
Kazakhstan-based Steppe Cement reported revenue of KZT3.779bn (US$8.4m) in the first quarter of 2024, down 23.5 per cent from KZT4.938bn in the year-ago period. The company's market share in Kazakhstan contracted to 11.5 per cent in the 1Q24 from 12.7 per cent in the 1Q23. Steppe Cement sold 175,383t of cement, representing a 18.4 per cent drop when compared with the 1Q23 when sales volumes...
UltraTech Cement Ltd completes 100MW solar energy project
UltraTech Cement Ltd has completed a 100MW solar energy project under the Group Captive scheme in the state of Rajasthan. This is the company’s first project for sourcing power for its captive consumption from the inter-state transmission network. Power from this project will be available to the company’s Units in Rajasthan, Gujarat, Himachal Pradesh, Tamil Nadu, Odisha among others. This p...
Heidelberg Materials France to close two plants
Ciments Calcia , part of Heidelberg Materials France , is closing two of its plants as part of a restructuring programme. The two sites due to close are in Beffes (Cher) and Villiers-au-Bouin (Indre-et-Loire), both of which are scheduled to shut in October 2025. According to Heidelberg Materials France, the restructuring is the result of a significant decline in cement sales resulting fr...
Holcim acquires concrete construction systems specialist Tensolite
Holcim has signed an agreement to acquire Tensolite, a leading manufacturer of innovative precast and pre-stressed concrete construction systems with US$22m of net sales in 2023 and a strong presence in fast-growing Latin American markets. With plants and a distribution network across Argentina, Paraguay and Uruguay, Tensolite will expand Holcim’s Solutions & Products portfolio and strengthe...
CNBM reports 10% YoY revenue drop
CNBM has reported revenue of CNY210.2bn (US$29.1bn) in 2023, down 10.1 per cent on the previous year. This was primarily attributed to a fall in the group’s basic building materials segment, which was partially offset by an increase in revenue in its engineering technical services segment and an uptick in its new materials segment. Profit attributable to equity holders of the company contrac...
Capex falls behind targets for PPC
PPC has announced that its capital expenditure fell behind targets for the period ending March 2024. This was due to a delay in the company’s fly ash project in Zimbabwe, which was announced last November. Delays in accessing the power plant, which halted the design and commercial contract, were also a key factor. PPC stated that, “Capital expenditure for the group remains behind the guid...
Sinai Cement sees sales surge in 2023
Egypt’s Sinai Cement has reported a surge in sales, with EGP4.28bn (US$90.68m) posted for 2023, compared to EGP2.34bn in the previous year. A consolidated net loss after tax of EGP121.42m was seen in 2023, down from EGP330.41m in 2022, while the loss per share of the holding company fell from EGP2.48 in 2022 to EGP0.91 in the following year. On a standalone basis, the net loss after t...
Maple Leaf Cement has bought shares in a fertiliser company
Maple Leaf Cement Factory Ltd has acquired and settled 6m voting shares of M/s Agritech Ltd (formerly Pak-American Fertilizers Ltd), the first nitrogenous fertiliser plant built in Pakistan. “Under the above acquisition, Maple Leaf Cement Factory Ltd plus Maple Leaf Capital Ltd (person acting in concert) now hold 44,670,000 voting shares of the target company, ie 11.38 per cent aggregate ...