Cement News tagged: Corporate
Lafarge Jordan launches Shamel eco cement
Holcim Ltd subsidiary Lafarge Jordan Cement has introduced Shamel, an environmentally friendly cement as part of the company’s sustainability drive. In a statement, Lafarge Jordan CEO, Samaan Samaan, highlighted the company's successful transformation in adopting an environmentally-conscious approach, noting that the entire product range has been revamped to embrace eco-friendly alternat...
Buzzi SpA sees 1H23 volumes decline in Europe
Buzzi SpA reported cement volumes declining across much of western Europe in the 1H23, while the USA saw volumes rise significantly. Hydraulic binders and clinker sales in Italy were stable in the first six months of the year (-0.3 per cent), thanks to the recovery recorded in the second quarter. Ready-mix concrete output contracted, albeit moderately (-2.5 per cent). Selling prices cl...
Kohat Cement completes the buyback of 5m shares
Kohat Cement Co Ltd (KOHC) informed Pakistan Stock Exchange Ltd (PSX) on 3 August that in compliance with Regulation 10(g) of the listed companies (buy-back of shares) regulations, 2019, the company with this informs that Kohat Cement Co (the company) has completed the buy-back of its 5m ordinary shares in accordance with the approvals of the company's members given in its Extraordinary Gene...
Kunda Nordic Tsement is now Heidelberg Materials Kunda AS
Kunda Nordic Tsement ( Heidelberg Materials ) has changed its name to Heidelberg Materials Kunda AS . The name change followed the roll-out of the Heidelberg Materials global brand and this is now reflected in Estonia with the new name for the company's Kunda operations. The company emphasises that this is, "The same colleagues, same know-how, experience, and expertise. But in a stronger pos...
Dangote Cement appoints independent non-executive director
Dangote Cement Plc has appointed Alvaro Poncioni Mérian as independent non-executive director. Mr Mérian is founder and managing partner of EDNAM Capital, UK, and founder and executive chairman of Munegu Partners, Hong Kong. According to New Telegraph, Mr Mérian obtained a Master of Science Degree in Management and Finance from HEC Paris and Master of Arts Degree in Public Affairs and Int...
Buzzi SpA reports consolidated EBITDA up 58% in 1H23
Buzzi SpA announced its 1H23 results reporting that consolidated EBITDA stood at EUR575.3m, up 57.6 per cent compared to EUR365.1m of the previous year. The figure for the period under review includes non-recurring income of EUR3.6m. Profit before tax amounted to EUR552.9m (EUR119.8m in the previous year), considering a contribution of EUR80.6m from equity earnings (EUR57.6m in 2022) an...
Nigerian cement sector expands 16% YoY in 1H23
Three of Nigeria’s leading cement producers have reported combined revenue of NGN1.37trn (US$1788m) in the opening six months of 2023, despite the challenging business environment. According to The Sun, Dangote Cement , BUA Cement and Lafarge Africa Plc ’s combined revenue marks a 16.1 per cent increase in the country’s cement industry sector compared to the same period last year. Combined...
India Cements reports loss in June 2023 quarter
The India Cements Ltd has reported revenue from operations of INR13,930.4m (US$168.3m) in the quarter ended 30 June 2023, down from INR14,462.3m in the same quarter a year earlier. The company saw a loss of INR752.7m in the June 2023 quarter, versus a profit of INR760.9m in the same quarter a year earlier. Total expenses in the June 2023 quarter came in at INR14,988.2m, compared to INR15,...
Adani Group updates expansion plans following SIL acquisition
The Adani Group has provided an update on its plans following the announcement of its acquisition of a majority stake in Sanghi Industries Ltd (SIL). According to The Telegraph, the group plans to expand the captive port capacity of Sanghipuram to accommodate vessels of 8000dwt. Sanghi Cement runs a 6.1Mta plant at Sanghipuram which is connected to a captive jetty at Sanghipuram. The plan is...
Eagle Materials Inc's heavy materials division achieves revenue of US$396m in 1QFY23-24
Eagle Materials Inc 's first quarter of FY23-24 ended 30 June 2023 saw revenue in the heavy materials sector joint venture (JV) and intersegment cement revenue reach US$396m, a 15 per cent improvement. Heavy Materials (cement, concrete and aggregates) operating earnings increased 19 per cent to US$81m primarily because of higher cement sales prices and sales volume partially offset by inc...
Romcim SA’s takeover move gets green light from Competition Council
Romcim SA, a Romania-based producer of cement, concrete and other construction materials, has had its takeover of Bauelemente Reinvest SRL and its subsidiary Bauelemente SRL approved by the Competition Council. According to Agerpres, “Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or...
Vulcan Materials reports on strong aggregates sector in 2Q23
Vulcan Materials Co has announced total revenues of US$2113m in the second quarter of 2023, up from US$1954m in the same period a year earlier. Adjusted EBITDA has come in at US$595m in the 2Q23, compared to US$450m in the year-ago period, while gross profit has advanced from US$446m in the 2Q22 to US$583m in the same quarter a year later. Tom Hill, Vulcan Materials’ chairman and CEO, said,...
Borneo Cement (Sabah) to complete 1.75Mta capacity project by 3Q25
Following a joint venture agreement between Sabah Economic Development Corp (Sedco) and Sri Alam Setia Sdn Bhd that will see the creation of Borneo Cement (Sabah) Sdn Bhd, a new integrated cement plant will be built in Pinangah, Tongod, Malaysia. The new plant will be able to produce 5000tpd of clinker and 1.75Mta of cement. With Sabah’s market demand currently at 1.4Mta it is expected that...
Prism Johnson turns a profit in June quarter
India-based Prism Johnson saw its net sales advance seven per cent YoY to INR19.04bn (US$230.4m) in the quarter ended 30 June 2023. Over the same period, consolidated profit after tax came in at INR207.6m, compared to a loss of INR160.1m in the same period a year earlier. Revenue from the company’s cement business, which accounts for over half its total revenue, expanded by 18 per cent Yo...
Orient Cement reports profit dip in June quarter
Orient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to...
Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary
The Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly com...