Cement News tagged: Corporate
HeidelbergCement buoyed by FY20 results
HeidelbergCement closed the 2020 financial year with top results in key figures. Group revenue decreased by 6.6 per cent to EUR17,606m ( previous year: EUR18,851m) in comparison with the previous year. On a like-for-like (LfL) basis, the decline amounted to 4.6 per cent. The EUR601m decrease in HC Trading's revenue due to the decision to significantly reduce fuel trading with third-par...
Cemex to reopen Lloseta plant
Cemex has signalled its intention to restart cement production at its Lloseta plant in Spain in the coming weeks, according to Ultima Hora Online. The plant closed in January 2019 but the company had to communicate to government before 15 April 2021 what its plans were regarding the fate of the plant: to resume production or shut down and dismantle the works. The cement producer will manufa...
Interoceanicos to build cement plant in Puno
Peru-based Cementos Interoceanicos has signed an agreement with Satarem to build a 1Mta cement and two lime plants in Puno, Peru, in the next 18 months. The cement producer expects to enter the area’s cement and lime markets in the next two years. The project represents an investment of US$158m. Satarem aims to have a 30 per cent stake in the shareholding of Cementos Interoceanicos as a resu...
Tangshan Jidong Cement reports 3% rise in income
China’s Tangshan Jidong Cement has reported a 2.8 per cent YoY increase in operating income to CNY35.48bn (US$5.46m) for 2020, compared to CNY34.51bn in the previous year. Net profit attributable to shareholders also increased 5.5 per cent to CNY2.85bn from CNY2.7bn in 2019.
RAK White Cement sees revenue down 7%
UAE-based RAK White Cement has seen a 34.6 per cent YoY decline in attributable net profit to AED12.69m (US$3.46m) in 2020, compared to AED19.41m in the previous year. Revenues declined 6.5 per cent YoY to AED221.19m from AED236.48m in 2019.
Local man becomes new plant manager at Dunbar cement plant
Tarmac (CRH Group) has promoted a local employee as its new plant manager at Dunbar Cement. Chris Bradbury, who previously worked at Tarmac’s Tunstead plant in Derbyshire, began working in the industry as an apprentice in 1994 and has experience of working at cement plants in UK, Nigeria and the Philippines. The 45-year-old has risen through teh ranks and has been appointed the new plant ma...
China Resources Cement reports 4% profit increase
China Resources Cement has seen its profit attributable to owners rise four per cent YoY to HKD8.96bn (US$1.15bn) for 2020. The company also posted a turnover of HKD40.09bn in 2020, up 2.9 per cent YoY. Basic earnings per share reached HKD1.283, while a final dividend of HKD0.34 is expected to be distributed.
Shree Cement starts commercial operation of Odisha grinding plant
Shree Cement has started commercial operation of its new 3Mta cement grinding unit in Odisha. The new plant is located in Athagarh Tehsil, Cuttack District of Odisha, Shree Cement said in a regulatory filing. Shree Cement operates four integrated plants and 10 grinding plants in India as well as a 4.8Mt integrated plant in UAE. The company is building a new 3Mta grinding plant in Pune but...
First stage of Eurocement e-auction to close
The first stage of trading of the e-auction for 100 per cent of Eurocement’s shares that began on 18 February 2021 ends today (15 March 2021). Based on the results of the first stage, a list of participants will be formed and they will be invited to bid within the framework of the second trading session that will result in a winning investor in early April. The deal includes Sberba...
Sharjah Cement sees 26% revenue decline in 2020
UAE-based Sharjah Cement has reported a 25.6 per cent decline in revenue to AED431.63m (US$117.53m) for 2020, compared to AED580.1m in the previous year. The cost of sales declined to AED436.99m from AED543.8m. The company also posted an AED70.64m loss for the year, compared to an AED12.07m profit in 2019.
Argos signs COP160bn ESG-linked performance loan with BBVA
BBVA and Argos (Grupo Argos) signed a long-term financing agreement through a sustainable loan in an ESG-linked format for COP160bn (US$44.8m) where the loan includes a pricing adjustment mechanism that links the interest rate to the company’s ESG performance. This transaction is the first of its kind in Colombia and constitutes Grupo Argos' debut in sustainable financing. The loan ...
Togo's new 2.5Mta plant to open next September
CimMetal has provided an update for its 2.5Mta new plant project in Togo. Preliminary works related to construction are now 65 per cent complete and the plant is expected to open in September 2022. The company is set to invest XOF65bn (US$118.26m) in the project, while CimCo also received XOF25bn of funding from the West African Development Bank.
Bricking Solutions INC and Brokk UK form partnership
Brokk UK was set up in 2000 covering the whole of the UK and Ireland, selling Brokk demolition machines and attachments for use in the demolition/construction and nuclear industries, while also covering machine sales for use in the steel/cement and refractories sectors. Brokk UK has 11 staff covering two depots, the head office being in Cumbria and a service centre based in the south...
Lucky Cement starts commercial operations at Samawah plant
Lucky Cement Ltd has announced the commencement of commercial operations of its Samawah plant in Iraq. The company in a notification to the Pakistan Stock Exchange (PSX) on Thursday informed, "We are pleased to announce that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2Mta has successfully commenced its commercial operations with effect from 10 March 2...
Bangladesh cement makers add two bulk carries to fleet
Meghna Group of Industries have launched two of the largest dry bulk carriers, viz MV Meghna Princess & MV Meghna Adventure, on 10 March 2021, at the Chittagong port, Bangladesh. Meghna Group is one of the top three cement producers and marketers of Bangladesh, operating with its two strong brands, namely Fresh and Meghnacem Deluxe. State Minister for Shipping, Khalid Mahmud Chowdh...
Loma Negra reports 21% rise in revenue for 4Q20
Argentina's Loma Negra has announced a 20.6 per cent YoY rise in net revenue to ARS13.26bn (US$160m) for the 4Q20, compared to ARS11bn in the year-ago period. Consolidated adjusted EBITDA surged 40.8 per cent to ARS4.73bn from ARS3.36bn in the 4Q19, while net profit was up 93 per cent to ARS2.96bn. "We finished the year in a very good way, when considering the unprecedented scenario that was...