Cement News tagged: Corporate
CEMEX launches new Vertua low-carbon product
CEMEX Colombia has introduced a new Vertua lower-carbon mortar with a reduced carbon footprint of up to 40 per cent. This was achieved using more sustainable raw materials, better cementitious materials and a more efficient production process. CEMEX offers a wide range of mortars in its markets worldwide as part of its Urbanisation Solutions business. This latest mortar is part of the V...
TPI Polene reports weak operating conditions in 1Q24
The Bank of Thailand’s statistics on domestic cement sales show a negative trend since the pandemic, falling by 3.1 per cent in 2022 and 1.5 per cent in 2023. In addition, since November 2023 the trend has worsened and by March 2024 domestic cement sales had contracted 14.5 per cent YoY bringing the 1Q24 contraction to 10.6 per cent. The key reason for the major deterioration in demand is ...
Taiwan Cement to operate as TCC Group Holdings
Taiwan Cement Corporation (TCC) held its shareholders' meeting on 21 May 2024 officially announcing the transformation of the 78-year-old company into a group holding company, shifting its English name from Taiwan Cement Corporation to TCC Group Holdings. This marks a significant leap into 11 industries, spreading its presence across 13 international markets. TCC's Chairman, Nelson Chang, ...
Yong Concrete PCL announces two new plants in Rayong
Thailand-based Yong Concrete PCL has announced plans to build two new facilities in the country. Themove comes in response to rising demand in the Eastern Economic Corridor (ECC), and is aimed at offsetting market slowdown and government budget delays. Sunpetch Slisatakorn, CEO, said that one of the planned facilities will produce ready-mix concrete in the Nong Bua sub-district in Rayon...
Beton Provincial acquires CRH Canada assets
Béton Provincial has concluded its deal with CRH Canada Group Inc , acquiring assets in Quebec, Newfoundland and Labrador as well as the state of New York. As a result, Béton Provincial now operates one of the largest distribution networks in eastern North America. The company now owns Ash Grove Cement's Joliette cement plant, six cement terminals (three in Newfoundland and Labrador, two ...
CEMEX develops Generative AI tool
CEMEX has developed the first generative artificial intelligence (AI) tool of its kind in the building material industry, transforming how its salesforce interacts with clients by providing real-time support for a superior customer experience. The tool is an advanced knowledge assistant using Microsoft’s artificial intelligence and trained with CEMEX’s product information and ex...
Ambuja Cements commissions unloader at Karanja Port to speed up deliveries
Ambuja Cements has commissioned a bulk cement vessel unloader at Karanja Port, India. According to BusinessLine, the investment has been made to enable the company to easy transport cement from its Sanghipuram plant to Mumbai. It forms part of Ambuja’s ongoing efforts to optimise operational efficiency, reduce logistics challenges, and provide its customers with a seamless supply chain....
Dewan Cement's profitability dented due to high power costs in 9MFY23-24
Dewan Cement recently submitted its 9MFY23-24 report with the unaudited financial results for nine-month period that ended 31 March 2024 to the Pakistan Stock Exchange (PSX) for shareholders’ information. During this period, the company posted a loss of PKR601m (US$2.16m) against a loss of PKR758m, despite an increase of 12.9 per cent in sales during the new month’s period. The report a...
Heidelberg Materials UK acquires B&A Group
Heidelberg Materials UK has acquired B&A Group, one of the leading construction soil and aggregate recycling companies in southwest England. The Bristol-based company employs a team of 70, and specialises in the supply of recycled and primary aggregate as well as site clearance, earthworks, land remediation and sustainable land regeneration. It had its most successful year to date in 2023, t...
Eagle Materials posts record results
Eagle Materials has reported record revenue of US$2.3bn in the FY23-24, ended 31 March 2024, marking a five per cent advance YoY. Net earnings over the year improved by three per cent to reach a record US$477.6m, while adjusted EBITDA was up seven per cent YoY to US$834.5m. In the 4QFY23-24, revenue advanced to US$476.7m, up one per cent on the same period a year earlier. Net earnings ov...
PHINMA Corp to acquire Petra Cement for PHP500m
Philippines-based PHINMA Corp announced it will acquire Petra Cement Inc for PHP500m (US$8.6m). The conglomerate signed a purchase agreement through its subsidiary Philcement Corp on 20 May, it said in a stock exchange disclosure. "This is aligned with Philcement's growth strategy and its promise to assure Filipino consumers with reliable, high quality supply of cement products under ...
JSW Cement invests US$360m in new plant
JSW Cement is planning to build a new cement plant in Rajasthan, giving the company access to India’s northern markets. The proposed facility will have a cement capacity of up to 3.3Mta and an 18MW power plant, according to Mint. The INR30,000m (US$360m) investment is being funded through a mix of equity and long-term debt. “The proposed investment to establish our integrated cement faci...
Eagle Materials expands Laramie plant
Eagle Materials has announced plans to modernise and expand its cement plant in Laramie, Wyoming, USA, and related distribution facilities, to serve the growing northern Colorado area, Nebraska, Utah and Wyoming. The upgraded plant and additional distribution facility in northern Colorado will feature state-of-the-art technology, designed to maximise operational efficiency and further streng...
Pakistan's cement export trend continues to excel in 10MFY23-24
Pakistan’s cement and clinker exports increased by 35.9 per cent in the 10MFY23-24 (July 2023-April 2024) to US$204.54m (5.301Mt), compared to US$150.48m (3.24Mt) in the 10MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 593 per cent to PKR58.21bn during the period, sustained by the local currency’s competitive rates a...
Buzzi to increase stake in Cement Nacional to 100%
Italy-based Buzzi SpA said it will increase its stake in Brazilian cement producer Cimento Nacional (NCPAR) to 100 per cent from the current 50 per cent as its joint venture partner, Grupo Ricardo Brennand , exercises its put option, according to a statement by the company. The price will be determined based on existing agreements and may also vary depending on the exchange rate of the r...
Udaipur Cement Works 4Q net profit up 17%
India-based Udaipur Cement Works posted a net revenue of INR34.835bn (US$418.3m) in the January-March 2024 quarter (4QFY23-24), an increase of 18.2 per cent YoY from INR29.464bn in the 4QFY22-23. The company’s net profit increased 17.2 per cent YoY to INR197.9m in the 4QFY23-24 from INR168.9m in the year-ago period. Operating expenses increased by 14.9 per cent to INR2.874bn in the 4QFY2...