Cement News tagged: Corporate
Dongwu Cement chief investment officer resigns
Mr Chen Xuanlin has resigned as non-executive director and chief investment officer of Dongwu Cement International, effective from 2 December 2022. According to the company, Mr Chen is leaving to “pursue his career development and concentrate on his own business engagement.” “Mr Chen has confirmed that he has no disagreement with the Board and there are no matters with respect to his res...
Adani Group to refinance Ambuja Cements and ACC bridging loans
The Adani Group is reported to be in talks with several foreign banks to refinance US$3.5bn of bridging loans taken for the acquisition of Ambuja Cements Ltd and ACC Ltd this year. The loans were taken by the Mauritius-based promoter entity Endeavour Trade and Investment, a special-purpose vehicle that acquired Ambuja Cements' stake from Swiss cement major Holcim in an all-cash tra...
Savannah Cement places order with Sinoma for new Kenyan plant
Savannah Cement has placed an EPC order with Sinoma International Engineering for a new US$300m cement plant in Kenya. Sinoma will construct a clinker line with an output of 8000tpd, a cement grinding unit, and a packaging and forwarding system with an output of 100tph, as well as a supporting power station in Kitui, east of the capital Nairobi, reports Yicai Global. The company will pro...
Cachupaz wins process control order for Tekcim cement plant
To automate NovaCim's greenfield Tekcim cement plant in Morocco, Cachapuz Bilanci Group’s SLV Cement technology will be installed. Besides having powerful operational analysis tools, SLV Cement allows the monitoring and control of operations, the plant performance and the level of service provided. This will enable NovaCim to optimise and automate the logistics flows of incoming raw mate...
Eagle Cement delists from Philippine Stock Exchange
Eagle Cement Corporation has gained the approval of its shareholders to delist from the Philippine Stock Exchange (PSE). According to the company, not one shareholder voted against the proposal. “Therefore, as stated in the Definitive Information Statement distributed in relation to such request for stockholders’ approval via written assent, the voluntary delisting of the corporation fro...
Akcansa Cimento appoints new general manager
Akçansa Cimento , a joint venture between Sabancı Holding and Heidelberg Materials , has appointed Vecih Yılmaz as its new general manager. Mr Yılmaz replaces Mehmet Zeki Kanadikirik, effective from 1 December 2022. “As of today, we are experiencing a change of flag at Akçansa, which sets a model for its industry, inspires its stakeholders and puts the bright future of our country ahead ...
Attock Cement's new line to start at end of FY23
The management of Attock Cement Pakistan Ltd (ACPL) has announced that its new 4000tpd (1.2Mta) line will come online by the end of FY22-23. Top managed disclosed this at an analyst briefing held to discuss the recent financial performance and give an outlook of the company in the future, according to a report of AHL Research. The total expansion cost at Balochistan is estimated to be ov...
Bestway Cement's post expansion capacity will stand at 15.2Mta
The top management of Bestway Cement Ltd organised a corporate briefing earlier this month to discuss the company's 1QFY22-23 results and outlook. The company's CFO, Muhammad Amir Khan, and Head of Budgeting, Treasury and Reporting, Muhammad Danish Khan, of Bestway Cement Ltd announced that the start of commercial operation of 7200tpd clinker line at the Minawali location is expected in...
Empresas Melón to close Peñalolén plant
Chile-based Empresas Melón has announced the closure of its ready-mix concrete plant in Peñalolén, near Santiago. The company, owned by the Brescia group, attributes the closure to the downturn in the construction market. “Mélon is adjusting its operations in metropolitan areas to adapt to the new market conditions forecast for 2023, particularly in the construction sector,” the company said...
Bamburi Cement forecast to see 25% drop in earnings
Bamburi Cement is expected to post net earnings for FY2022 down by at least 25 per cent compared to FY21, according to Reuters News. The loss in earnings is being attributed to slowing demand for cement, rising energy costs and increasing raw material costs.
PIBT reports volumes down in 1QFY22-23
Pakistan International Bulk Terminal Ltd (PIBT) reported cargo volumes down to 2.133Mt in the 1QFY22-23 (ended 30 September 2022) compared to 2.782Mt reported in the same period of the previous financial year. The trend is in line with industry demand for imported coal. However, the terminal’s net revenue increased by 1.3 per cent YoY to PKR3.461bn in the 1QFY22-23 from PKR3.138bn. A loss of...
US$8m cement distribution centre planned for Montego Bay
Plans to establish a new US$8m cement distribution centre in Montego Bay, Jamaica, have been put forward by cement importers Buying House Cement. For the last 16 years, Montego Bay company Buying House Cement has been importing cement to meet 10 per cent demand from the Domicem cement plant in the Dominican Republic. Businessman Mark Hart is the chairman of Cargo House Handlers, a public...
Breedon on track to deliver record earnings
Breedon Group reported that trading conditions remained supportive in the second half, enabling the company to fully recover rising input costs through robust pricing and disciplined cost management. In the four months to October 2022 group revenue expanded by 16 per cent YoY, resulting in a revenue of GBP1186m in the year to date, up 14 per cent YoY and 12 per cent on a like-for-like basis....
Malayan Cement reports 98% rise in revenue
Malayan Cement Berhad , part of YTL Cement Berhad , has reported revenue of MYR2.71bn (US$605.6m) in FY2022, up 98 per cent on the previous year. Net income has come in at MYR83.5m, compared to MYR76.2m in FY2021. Profit margin over the same period has advanced from 0.5 per cent to 3.1 per cent, driven by the higher revenue. Earnings per share improved from MYR0.009 in FY2021 to MYR0.068 in ...
Heidelberg Materials acquires RWG Holding GmbH
Heidelberg Materials has acquired Germany-based RWG Holding GmbH, an integrated provider in the demolition and construction materials recycling sector and market leader in the greater Berlin area. According to Heidelberg Materials, the acquisition will strengthen its circular materials offering to meet the growing demand for sustainable building materials. The processing of concrete demolit...
Pioneer Cement considers green and brownfield expansions
Pioneer Cement Ltd (PIOC) of Pakistan is continuously assessing new avenues and business ventures, including green and brownfield expansions in the country, according to the company’s FY21-22 Annual Report. The introduction of the 10,000tpd Line III at PIOC's integrated cement works in Khushab district, Punjab province, has increased total capacity at the plant to 17,300tpd. In add...