Displaying items by tag: GCW579
India: Dalmia Cement (Bharat) and Sagar Cements have submitted acquisition offers to Andhra Cements' administrator and committee of creditors. The Business Standard newspaper reported that the company owes its lenders total debts of US$118m and is valued at between US$42.5m and US$48.6m.
HeidelbergCement India's second-quarter sales drop
18 October 2022India: HeidelbergCement India recorded consolidated sales of US$61.5m during the second quarter of its 2023 financial year, down by 11% year-on-year from US$69.2m in the second quarter of the 2022 financial year. The Heidelberg Materials subsidiary's net profit in the quarter fell by 88% over the year, to US$852,000 from US$7.24m in the 2022 financial year's second quarter. The second quarter of the 2023 financial year brought a 0.3% year-on-year drop in the producer's operating expenses, to US$55.7m from US$55.9m.
Spain: Cementos Portland Valderrivas plans to make Euro6m-worth of investments in its Alcalá de Guadaira cement plant in Seville. The funds will go towards the construction of a refuse-derived fuel (RDF) line to help reduce the plant's petcoke consumption, as well as the renewal of the plant's mining licence for its quarry.
Udaipur Cement Works announces bonds sale to raise US$42.6m
18 October 2022India: Udaipur Cement Works plans to raise US$42.6m through the sale of bonds, Reuters News has reported. The producer says that the bonds will mature in March 2025.
Lucky Cement buys back more shares
18 October 2022Pakistan: Lucky Cement bought back more of its own shares on 17 October 2022. The total value of the purchase was US$408,000.
Lucky Cement previously bought back US$212,000-worth of shares earlier in October 2022, under the same resolution of it board from 20 September 2022.
Ciments Calcia commences Euro285m Airvault cement plant upgrade
17 October 2022France: Heidelberg Materials' subsidiary Ciments Calcia has laid the foundation stone for its construction of a Euro285m CO2 emissions-reducing upgrade to its Airvault cement plant in Nouvelle-Aquitaine. Ciments Calcia first published its plans for the installation of a new 4000t/day production line to replace both existing lines at the Airvault plant in 2021, with commissioning scheduled for mid-2024.
Germany-based ThyssenKrupp secured the order to supply a 1200t/hr double-shaft hammer crusher, a longitudinal blending bed, a 370t/hr Quadropol QMR² 45/23 vertical roller mill, a 10,000t raw materials tangential blending silo, a single-string, five-stage Dopol cyclone preheater with integral calciner for alternative fuels (with the possibility of conversion to oxyfuel), a Polytrack clinker cooler, a solid recovered fuel preparation line and dedusting systems for the project.
India: During the second quarter of the 2023 financial year, Shree Cement recorded standalone sales of US$459m, up by 18% year-on-year from US$389m in the second quarter of the 2022 financial year. The figure represents a quarter-on-quarter drop of 10% from US$510m during the first quarter of the present financial year. The producer reported cost increases as a percentage of revenues to 33% for fuel and power, 7.6% for raw materials and 1.6% for inventory costs during the quarter. It said that this resulted in a 67% year-on-year drop in its standalone net profit to US$22.9m, from US$70.2m in the second quarter of the 2022 financial year.
India: Adani Group's flagship company, Adani Enterprises, has clarified that it is 'not evaluating' the possibility of acquiring Jaypee Group's cement business. Bloomberg has previously reported that Adani Enterprises was in 'advanced talks' to acquire the 10Mt/yr-capacity business for US$606m.
Birla Corporation buys Marki Barka coal mines
17 October 2022India: Birla Corporation won bidding for Madhya Pradesh's Marki Barka coal mines on 15 October 2022. The producer said that the asset will provide fuel security and cost optimisation for its cement operations.
Golden Bay Cement uses 80,000t of waste in EcoSure reduced-CO2 cement production to date
17 October 2022New Zealand: Fletcher Building subsidiary Golden Bay Cement has co-processed 80,000t of waste in production of its EcoSure reduced-CO2 general-purpose cement at its Golden Bay, Whangarei, cement plant. The plant has achieved a coal substitution rate of 50%. It has processed various waste streams, including 3 million used tyres. EcoSure cement generates CO2 emissions of 699kg/t of product, 20% less than its imported alternatives, according to Golden Bay Cement. Fletcher building CEO Nick Traber said that this figure is 'simply our starting point.' The company's next target is to achieve a 30% CO2 reduction by 2030.
Traber said "We needed to think outside the box, or rather the cement bag to be more precise. The challenge was around what enhancements we could make to our manufacturing processes at our Golden Bay cement works in order to improve the plant's sustainability. We quickly realised that consuming used tyres and wood waste as alternative fuels was a win-win. When we started with the idea in 2015, we were aiming to replace 15% of coal with end-of-life tyres. Fast forward to 2022, and our rate of coal substitution is now at 50%, which has obviously delivered further reductions in carbon emissions, as well as helping to offset increased coal costs."