Cement News tagged: Corporate
Umm Al-Qura Cement appoints new CEO
Saudi Arabia's Umm Al-Qura Cement Co has announced the appointment of Majid Tariq Salah Gharbawi as CEO, effective from 20 October. Mr Gharbawi has more than 17 years of experience in the financial and banking sector. His professional career includes many administrative and leadership positions within private banks. He holds a Bachelor of Science in Business Administration, majoring in f...
Boral returns to profit in the FY21
Australia’s Boral has reported a net profit of AUD640m (US$462.87m) for the full year ended 30 June 2021, compared to a loss of AUD1.145bn in the previous fiscal year. EBIT also advanced 37 per cent to AUD445m. However, sales revenue from continuing operations was down six per cent YoY to AUD2924m, as a result of lower volumes and softer prices, according to a media release. "Our full year ...
KJS Cement records 36% advance in profit
India’s KJS Cement has seen a 36.4 per cent YoY rise in profit to INR654.4m (US$8.83m) for the year ended 31 March 2021, against INR479.6m in the FY19-20. EBITDA was up 5.5 per cent to INR1.99bn. Cement and clinker sales reached 1.72Mt and 0.59Mt, respectively, a considerable increase driven by demand from infrastructure projects. "KJS Cement has recorded strong performance across all param...
Nuvoco Vistas Corp sees lukewarm bourse start
India-based cement producer Nuvoco Vistas Corp entered the bourses with a weak start as its shares were listed at up to 17 per cent discount to its issue price. However, by the end of the day, the shares saw gains of up to 13 per cent over the listing price. At the start of trading on 24 August shares reached INR471 (US$6.35) on the Bombay Stock Exchange (BSE), down 17.3 per cent when compar...
Ambuja Cements begins trial production at Marwar facility
India’s Ambuja Cements has begun trial production at its Marwar cement works in Nagaur district, which will increase the company’s clinker capacity by 3Mta. The plant was built with an investment of INR23.5bn (US$316.45m) and includes a waste heat recovery system alongside 1.8Mta of cement grinding capacity. "I am delighted to inaugurate the trial run at Marwar Cement plant of Ambuja as ...
Atom Cement launched in Russia
Russia’s Atomstroykompleks has launched its Atom Cement plant in Sysert, Sverdlovsk region, which has been designed with 550,000tpa of white cement capacity. The project represents an investment of RUB4.5bn (US$61.46m) and is expected to reduce the price of white cement in the region by up to 30 per cent.
China Tianrui Group Cement records 9% rise in revenue
China Tianrui Group Cement has posted a 9.1 per cent YoY increase in revenue to CNY5.73bn (US$882.8m) for the first half of 2021, compared to CNY5.25bn in the year-ago period. Attributable profit also advanced 4.5 per cent YoY to CNY751.6m from CNY719m in the 1H20.
Al Jouf Cement sees profit advance 25% YoY
Al Jouf Cement has announced a 4.9 per cent YoY decline in revenue to SAR53.74m (US$14.34m) in the six months ended 30 June 2021, compared to SAR56.49m in the 1H20. However, the company's profit advanced 24.9 per cent to SAR19.68m from SAR15.75m.
Cemex's aggregate production returns to Alabama
Cemex is investing more than US$6m in its new Brierfield aggregates plant to produce high-quality aggregates for Alabama, USA. The Brierfield plant is the latest addition to Cemex USA and Ready Mix USA's strong network in the state that consists of one cement plant, three cement terminals and more than 30 ready-mix concrete plants. The Brierfield plant, which is located approximately one...
Dragon Products to stop Rockland rail terminal shipments
From next year, USA-based Dragon Products plans to stop shipping cement along the Rockland South End rail line in favour of selling cement from the plant in trucks and shipping cement by rail directly to its customers. The cement plant currently sends rail cars about five miles on the line from the Thomaston plant to its dock on Rockland’s South End waterfront in Maine, where a barge is the...
Lafarge Africa Plc announces 1H21 group revenues of NGN145m
Lafarge Africa PLC (Holcim group) announced 1H21 group revenue of NGN145m (US$351.9m) with gross profits of NGN48m. In the 2Q21, group revenue reached NGN73.5m and gross profits amounted to NGN28.9m. Group cement sales totalled NGN71.5m in the 2Q21 and NGN141.4m in the 1H21. Meanwhile, Aggregates and concrete sales amounted to NGN2m in the 2Q21 and NGN145m in the 1H21. Lafarge Africa Plc...
Cemix plant holds opening ceremony with President Putin in attendance
Lasselsberger Group recently held the opening ceremony for its Cemix greenfield 700tpd white cement production line in Russia. Sinoma-Tianjn Cement Industry Design & Research Institute (TCDRI) carried out the project on an EPC basis. Russian President Putin attended the opening ceremony. The Austrian Prime Minister sent a congratulatory video message. President Putin gave a speech, f...
Solidia Technologies appoints new CTO
Solidia Technologies ® has named Russel Hill PhD as its new Chief Technology Officer. Mr Hill joins Solidia after 25 years with Boral, where he most recently served as Group Chief Innovation Officer. "Russell Hill brings a rare wealth of expertise and experience, and we are thrilled to add him to Solidia’s roster of talent," said CEO Bryan Kalbfleish."Russell's leadership will be inval...
Saudi Cement buys 37% share of United Cement
Saudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amou...
Star Cement reports 50% growth in profit
India’s Star Cement has seen its standalone net profit grow 50.4 per cent YoY in the quarter ending 30 June 2021, increasing to INR541.8m (US$7.3m) from INR360.3m. Net revenue was up 76.7 per cent YoY to INR5.04bn from INR2.86bn in the April-June quarter of the previous fiscal.
Misr Cement (Qena) posts 9% profit increase
Egypt’s Misr Cement (Qena) has recorded a 9.2 per cent YoY advance in consolidated net profit for the January-June period of 2021, rising to EGP69m (US$4.39m) from EGP63m in the 1H20. However, net revenue declined 4.7 per cent to EGP1.28bn from EGP1.34bn. The company has attributed the increase in profitability to improved efficiency and total exports, which climbed 316 per cent YoY to 169...