Cement News tagged: Corporate
Mason City Cement invests in AF use
Mason City Cement, part of Heidelberg Materials , is reportedly investing US$4-5m over the next few years to increase the alternative fuel utilisation rate at its plant to 50 per cent by 2026. Reserves for producing cement in North Iowa are believed to be able to sustain production for another 75-100 years, reports Globe Gazette. Heidelberg Materials is looking to earn 50 per cent of it...
LafargeHolcim Maroc reports 31% drop in net income
LafargeHolcim Maroc , part of the Holcim group, posted a 2.6 per cent YoY decrease in consolidated turnover to MAD7.98bn (US$776.5m) in 2022. Sales volumes of the company contracted and were only partially offset by higher clinker sales and the increase in the average selling price. Moroccan cement demand declined by 10.6 per cent in as inflation impacted the economy. Current operating inc...
Tabuk Cement reports 30% YoY increase in revenue in 2022
Saudi Arabia’s Tabuk Cement Co has reported revenue of SAR297.55m (US$79.35m) in 2022, up 30.2 per cent from the SAR228.53m seen in 2021. Over the same period, net profit after zakat and tax advanced 18 per cent from SAR17.76m to SAR20.97m. Meanwhile, earnings per share rose from SAR0.20 to SAR0.23, reports Zawya. In the first nine months of 2022, revenue was up 20.6 per cent YoY at SAR2...
Ecocem creates Head of People and Culture position
Ecocem has announced the appointment of Jennifer Dolan as Head of People and Culture. In this role, her responsibilities will include oversight of the company’s people strategy and objectives, and evolving Ecocem’s workplace ethos and culture to support the business’ ambitious mission. Ms Dolan brings over 15 years of experience in the HR industry. Prior to joining Ecocem, she he...
Bamburi Cement announces new CEO
Kenya's Bamburi Cement (part of the Holcim Group) has appointed Mohit Kapoor as its new chief executive officer, effective from 1 April 2023. Mr Kapoor replaces Seddiq Hassani who has left the company after five years at the helm, reports Business Daily Africa. Mr Kapoor has over 20 years’ experience in corporate leadership having held several high level management positions within the Hol...
Luks Group (Vietnam Holdings) hit by construction standstill in 2H22
Luks Group (Vietnam Holdings) Co Ltd has reported revenue of HKD492.88m (US$62.8m) in 2022, down from HKD513.23m in the previous year. Profit for 2022 came in at HKD48.5m, compared to HKD84.6m in 2021, while earnings per share fell from HKc16.8 to HKc10.6 over the same period. Revenue from sales of cement products stood at HKD281.45m in 2022, marking a contraction from HKD310.3m in 2021. ...
Umm Al Qura sees net profit plunge 72% YoY in 2022
Saudi Arabia-based Umm Al Qura Cement Company has reported revenue of SAR221.21m (US$58.99m) in 2022, down 20.66 per cent from the SAR278.83m seen in the previous year. Net profit after zakat and tax over the same period fell 71.77 per cent to SAR22.98m, reports Zawya. Earnings per share in 2022 came in at SAR0.42, compared to SAR1.48 in 2021. In the first nine months of 2022, the company s...
Tarmac plans to cut jobs despite huge profits
Tamac ( CRH Plc) is planning to cut as much as 10 per cent of its workforce in the UK according, to the GMB Union, which has called on the aggregate and building supplies giant to think again and step back from forcing through over 400 redundancies at the company. The union has slammed the company’s unwillingness to consider counter proposals put forward by GMB members to halt job losse...
CEMEX recovers Playa del Carmen operations
CEMEX has been granted permission under warrant to recover its operations at Playa del Carmen, Quintana Roo, Mexico. CEMEX has an existing contractual relationship with Calica, a Mexican subsidiary of Vulcan Materials, for the use of a marine terminal located in Playa del Carmen. This private agreement between both companies began more than 20 years ago, and since then, Cemex has continu...
CRH appoints new non-executive director
CRH plc has appointed Christina Verchere as non-executive director, effective from 20 March 2023. Ms Verchere, a dual British and US citizen, is chief executive officer of OMV Petrom SA (OMVP), a position she has held since 2018. OMVP is the largest integrated energy company in southern and eastern Europe, and is active across the energy value chain from oil and gas production to power ge...
PPC seeking buyers for CIMERWA stake
South Africa-based PPC is looking to sell its shareholding in Rwandan cement producer CIMERWA . “PPC is selling its 51 per cent stake in CIMERWA and the government will discuss if it is able to buy the stake,” Rwanda Development Board CEO, Clare Akamanzi told a news agency. “PPC is looking for buyers.” A sale of its stake in CIMERWA would enable PPC to focus more on its South African cor...
Ecebol plant expected to start up in June
Bolivia’s Empresa Pública de Cemento (Ecebol) expects to commission its new Potosí plant in June with the project currently 92 per cent complete and a budget execution of 85 per cent. The start-up of the 1.3Mta plant will take place on 30 June with the grinding and dispatch of the first products. "The first bags of cement will be in November to then verify the quality and put them on sal...
Eastern Province Cement FY profit sees 26% drop
Full-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Pr...
Adbri appoints acting chief financial officer
Adbri Ltd has appointed Dianne Mong to the role of acting chief financial officer, effective immediately. Ms Mong was previously general manager finance. She has been with Adbri since April 2022 and has more than 20 years’ experience across the professional services, property and telecommunications sectors, with expertise in financial control, taxation and treasury. During her time at A...
Northern Region Cement posts 5% increase in 2022 net profit
Revenues of Northern Region Cement Co in Saudi Arabia increased by 10 per cent to SAR617.95m in 2022 from SAR561.91m in 2021. Net profits after zakat and tax advanced 5.4 per cent YoY to SAR112.45m from SAR106.67m in 2021. Earnings per share increased to SAR0.62 on 31 December 2022, up from SAR0.59m in the previous year. Appointments The company also announced Sulaiman Salim Al Harbi...
Lucky Cement completes the buyback of shares
Lucky Cement Ltd ( Yunus Brothers ) informed Pakistan Stock Exchange (PSX) that it had completed the buyback of its 10m shares, which began on 29 September 2022, at spot prices prevailing on the PSX during this period. These shares will now be cancelled to improve its “future financial position,” said a bourse filling of 17 March. The company used the funds from its “distributable profits...