Cement News tagged: Corporate
ACC Ltd reports revenue growth
India-based ACC Ltd has reported revenue from operations of INR47,907.7m (US$585.6m) in the three months ended 31 March 2023. This compares to INR44,265m in the same period a year earlier. Profit after tax in the 2023 quarter came in at INR2365.7m, down from INR3918.1m in the same quarter in the previous year. Earnings per share over the same period fell from INR20.86 to INR12.60. Revenu...
Lafarge Canada acquires Westridge Quarries
Lafarge Canada (Holcim) has acquired Westridge Quarries operations. Westridge is a well-established supplier of construction aggregates and contract crushing services for the Okanagan Valley. The acquisition is in alignment with Lafarge’s Strategy 2025 to expand its aggregates business through critical acquisitions of pits, quarries, docks, and depots in strategic high growth markets. “T...
CBR to change its name to Heidelberg Materials Benelux
CBR ( Heidelberg Materials ) will see its name change on 22 November 2023. CBR will then officially become Heidelberg Materials Benelux. The Belgian company’s first trucks with the new logo are already on the roads.
Power Cement and Dewan Cement announce financial results
Two more cement companies in Pakistan announced their financial results for the third quarter ending 31 March 2023, and 9MFY22-23. Power Cement reported an increase in profit by 18.5 per cent in 9MFY22-23, while Dewan Cement reported a loss after taxation of PKR758m (US$2.67m) against a loss of PKR64m during this period. The financial data indicates higher sales and expensive production c...
New Mitchell Cement kiln line produces first clinker
First clinker was produced at the Lehigh Portland Cement's new state-of-the-art cement plant in Mitchell, Indiana, USA, on 23 April 2023. The construction of the new Mitchell cement plant ( Heidelberg Materials group ) began in 2019 and the vast majority of the work at the site has now been completed. “We are extremely pleased to have the new Mitchell kiln online and producing clink...
BUA Cement revenue rises by 9.7% in 3M23
Nigerian-based BUA Cement reported a revenue increase of 9.7 per cent to NGN106.9bn (US$232.2m) for the the three-month period ended March 2023 from NGN97bn in 3M22. Operating profit dropped by 9.4 per cent to NGN38.4bn for the 3M22 from NGN42bn in 3M22. Profit before tax fell by 15.6 per cent to NGN35.5bn from NGN42bn in 3M22.
Adbri raises cost of Kwinana project again
Adbri Ltd has confirmed that its Kwinana upgrade has risen in cost once again as inflationary pressures continue to hamper the project. The total project cost is now estimated at AUD385-420m (US$254-278m). According to the company, this has been driven by the escalating cost of construction, constraints on available labour and supply chain challenges. Furthermore, as the final desig...
CRH supplies major highway project in Utah
CRH is playing an integral part in the West Davis Corridor project in Utah, USA. The 27km (17-mile), four-lane greenfield highway project will include freeway-style interchanges and 10 miles of new trails for biking and walking. Construction of the corridor began in 2021 and will require 7.2Mt of aggregates, 445,000t of asphalt and 42,050m 3 (55,000 cubic yards) of ready-mixed concrete. ...
Hollingshead Cement opens new terminal
Hollingshead Cement, the cement division of SRM Concrete, has opened a new cement terminal in Nashville, Tennessee, USA. The dome-style terminal is capable of housing up to 50,000t of cement. SRM Concrete CEO, Jeff Hollingshead, stated, “We are thrilled to announce the opening of this new state-of-the-art terminal here in Nashville, and we are looking forward to servicing our own cement ...
Dalmia Bharat reports 20% revenue growth in FY23
Dalmia Bharat Ltd has reported a 20 per cent YoY increase in revenue to INR135.4bn (US$1653m) in FY22-23, ended 31 March 2023. EBITDA over the same period fell 4.5 per cent YoY to INR23,160m, while profit after tax advanced by 27.6 per cent to INR10,790m. Sales volumes for FY23 came in at 25.7Mt, up 15.9 per cent from the 22.2Mt reported in the same period a year earlier. In the 4QFY22-2...
CRH shareholders back US listing
CRH has confirmed that it will be pursuing a US primary listing, along with a US equity index inclusion “as soon as possible”, said the company. North America now accounts for around 75 per cent of the group's EBITDA and is expected to be a key driver of growth in the future. “We believe a US primary listing will bring increased commercial, operational and acquisition opportunities for o...
Heidelberg Materials acquires The SEFA Group Inc
Heidelberg Materials has agreed to acquire The SEFA Group, Inc, the largest recycler of harvested fly ash for use in concrete products in the USA. Based in Lexington, South Carolina, The SEFA Group currently supplies fly ash to over 800 concrete plants across 13 states. According to Heidelberg Materials, the reuse of fly ash from energy generation in alternative products such as compos...
Breedon reports positive 1Q trading update
Breedon Group plc posted a positive trading update for the first quarter of 2023. It attributes the good result to its dynamic pricing strategy, which allowed the group to recover costs and offset expected volume softness. Revenue saw a 10 per cent advance YoY, or by seven per cent on a like-for-like basis (adjusted for the impact of acquisitions and disposals). Breedon’s CEO, Rob Wood, s...
Patrick Vericel becomes majority shareholder of MLT Minet Lacing Technology
Patrick Vericel has become the new majority shareholder of the MLT Group Conveyor solutions company, MLT Minet Lacing Technology, based in Saint-Chamond, France, has announced that one of its CEOs, Frédéric Guillemet, was leaving the company and confirmed that his co-partner, Patrick Vericel, will stay on as the majority shareholder. Founded in 1947, the company was acquired in...
CRH reports 7% sales growth in 1Q23
CRH has reported a “positive start” to the year with 1Q23 sales up seven per cent YoY across the group. Americas Materials Solutions saw a 10 per cent advance in sales in the 1Q23, compared to the same period in 2022, driven by robust pricing which more than offset the impact of unfavourable weather during the quarter. Essential Materials saw a 15 per cent improvement in sales YoY, while Roa...
GCC reports 146% surge in 1Q net income
GCC SAB de CV posted its first-quarter 2023 consolidated sales, which saw a 17.9 per cent YoY increase to US$243.9m. EBITDA in the 1Q23 advanced 15.5 per cent YoY to US$63m. The EBITDA margin of 25.8 per cent, slightly lower than the 26.4 per cent posted in the 1Q22. Net income saw a 146.4 per cent improvement YoY to US$32.4m in the 1Q23, up from US$13.1m in the 1Q22. Enrique Escalante, GC...