Cement News tagged: Corporate
LafargeHolcim Bangladesh Ltd releases new cement bag
LafargeHolcim Bangladesh Ltd (Holcim group) has unveiled new look of its premium cement brand 'Holcim Strong Structure' which is now available in all the markets. Rajesh Surana, CEO of LafargeHolcim Bangladesh Ltd, unveiled the new bag design through a virtual programme. Holcim Strong Structure is the most popular cement in the premium-quality segment, recommended to individual house bui...
Premium Mills' manager is imprisoned for keeping factory open
Premium Cement Mills' plant manager in Charmukterpur, Munshiganj, Bangladesh, has been jailed for six months after violating COVID-19 restrictions by keeping the factory operating despite ongoing restrictions. The cement factory has been fined BDT1m (US$11,788) and has been closed for 13 days. A mobile court visited the plant on 23 July after on factory worker had died. The factory authori...
Dangote's Edo plant is ready to start production
Dangote Cement's US$1bn plant in Edo, Nigeria, is completed and set for commissioning. The plant has a cement production capacity of 6Mta and is built on a 100ha plot. The integrated cement plant, near Okpella, was built by Sinoma International Engineering Co and 1500 local workers collaborated with the Chinese engineers on the project. The factory would employ at least 6000 persons wh...
UltraTech Cement announce net sales of INR116.9bn
UltraTech Cement Co reported that its consolidated net sales in 1QFY22 reached INR116.9bn (US$1.57bn) compared to INR76bn over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR35,120m compared to INR23,570m. Profit before tax was INR25,270m and profit after tax was INR17,030m compared to INR11,530m and INR7940m, respectively. Produc...
PPC Zimbabwe expects to repay legacy debt in FY22
PPC Zimbabwe has acknowledged the receipt of US$11.2m under a legacy debts repayment facility. The company had accrued a US$21m debt due to cash flows generated in the country by foreign entities that could not be repatriated to foreign suppliers due to foreign exchange shortages. However, the cement producer’s debt repayments were boosted by a 2019 move from Reserve Bank of Zimbabwe to ass...
Titan's AI optimiser is rolled out across its portfolio
Titan is creating the smart cement plant of the future with a multitude of cutting-edge solutions leveraging the power of artificial intelligence (AI), in the context of the group’s digital transformation journey, including the roll-out of its fully-autonomous, real-time optimisers for the entire cement production line. Initially launched at Pennsuco cement plant in the USA starting in late...
Breedon appoint independent non-executive director
Breedon, a leading construction materials group in Great Britain and Ireland, announces that Moni Mannings, non-executive director and chair of the group’s Remuneration Committee, has given notice of her intention to step down from the Board of Breedon on 31 July 2021 with the expectation of joining the Board of Cazoo as a non-executive director. Breedon is pleased to announce the appoi...
Breedon Group Plc records 1H21 revenues of GBP600m
Breedon Group Plc has announced unaudited interim results for the six months ended 30 June 2021 with revenues reaching GBP600.9m compared with GBP335.3m in the 1H2020. Profits before tax amounted to GBP56.4m and underlying EBIT totalled GBP46.2m. Net debt at the end of the period stood at GBP291.5m. Rob Wood, CEO of Breedon, said: "Breedon delivered a strong trading result in the 1H21, b...
JK White Cement installs plant in Kenya
JK White Cement has installed a cement plant in Athi River, Kenya, to manufacture white cement, wall putty, plasters and tile adhesives. The company had been importing the product from the UAE in partnership with Plascon, but the local plant should offer it a competitive edge in the market. The unit launched operations in May and is reportedly part of plans to expand into regional African ma...
Nuvoco Vistas receives approval for its IPO
Nuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in Februa...
Votorantim Cimentos starts operating new Pecém line
Votorantim Cimentos has announced the start of operation of a new production line at its cement site in the Pecém Industrial and Port Complex, in the state of Ceará, Brazil. As a result of this expansion, the unit now has a production capacity of approximately 1Mta of cement. The volume produced in the new site will enhance the supply of the metropolitan area of Fortaleza. Votorantim Ciment...
Taiwan Cement Corp completes majority acquisition of Engie EPS
Taiwan Cement Corp has finalised the acquisition of a 60.48 per cent share of Italy-based energy storage company Engie EPS SA on 20 July 2021, at a price of EUR17.10 per share and a total investment of EUR132m. The new company name, New Horizons Ahead (NHOA), also came into effect. According to Bloomberg New Energy Finance (BNEF), after the acquisition of NHOA, TCC will be in fourth place i...
CSN postpones IPO
Brazilian cement and steelmaker CSN has postponed an initial public offering (IPO) of its cement unit which was expected to be launched in the coming days, newspaper Valor Economico has reported. CSN Cimentos had already filed a preliminary prospectus for the IPO, but it had not disclosed the amount to be raised, price per share, or a timing for the sale. Valor said CSN had decided ...
ACC Ltd records 2Q21 profits after tax of INR5.69bn
ACC Ltd (Holcim group) has reported 2Q21 profits after tax of INR5.69bn (US$76m) up from INR2.71bn in 2Q20. In the April-June 2021 period under review, ACC Ltd recorded an EBITDA of INR8.69bn and net sales of INR38.1bn. Profit before tax reached INR7.58bn in the 2Q21, up from INR4.03bn in 2Q20. Sales volumes of cement reached 6.84Mt in the 2Q21, up from 4.76Mt in the 2Q20. Half-year sa...
Carthage Cement posts 61% rise in turnover
Tunisia’s Carthage Cement has posted a 61 per cent YoY rise in turnover to TND163.8m (US$59.09m) for the first half of 2021, against TND102m in the same period of last year. Clinker production increased 99 per cent to 829,000t and cement production was also up 48 per cent to 612,000t in the second quarter of 2021. Local market turnover in the 2Q21 advanced 69 per cent YoY to TND123m. Reven...
Cementos Pacasmayo posts 286% rise in revenue
Peru's Cementos Pacasmayo has seen its revenue increase 285.7 per cent YoY to PEN440.9m (US$111.64m) in the second quarter of 2021, compared to PEN114.3m in the year-ago period. Consolidated EBITDA also surged to PEN90m from a PEN5.7m loss in the 2Q20. Sales volumes of cement, concrete and precast increased 257.2 per cent YoY to 847,700t, mainly due to the continued increase in sales of bag...