Displaying items by tag: My Home Industries

India: Ireland’s CRH is planning to sell its 50% stake in My Home Industries, according to sources quoted by investor information services group VCCircle. It is reportedly in talks to sell the stake to My Home Group, the company that owns the other half of the subsidiary. My Home Industries operates two integrated plants and two grinding plants with a production capacity of 10Mt/yr. It also runs two ready-mixed concrete plants.

In November 2019 CRH was reported to be looking to sell its assets in the Philippines. At the time of its second quarter results in 2019 chief executive officer (CEO) Albert Manifold described emerging markets as a small part of the group’s business with, “too much disruption, too much dislocation, too much uncertainty.” He added that the company’s focus was on its developed market businesses.

Ireland: CRH’s revenue for the six months up to 30th June 2019 was Euro13.2bn, up 11% from Euro11.9bn over the same period in 2018, with a 36% increase in EBITDA to Euro1.54bn from Euro1.13bn in the first half of 2018.

In its interim results, CRH attributed increased cement volumes in the US to synergy delivery and strong price realisation in spite of adverse weather conditions in its key markets, noting ‘a strong contribution from our Ash Grove acquisition,’ obtained at the end of June 2018.

A general improvement in cement pricing in the EU28 saw operating profits ahead of the first half of 2018, with increased demand in the French market from non-residential and civil engineering sectors offsetting the effects of reduced residential demand. The UK market reversed this trend, with operating profit behind 2018 due to higher input costs and volume pressure.

In addition to operating profit improvements reported by subsidiary businesses in the Philippines, CRH group benefited from its share in profit after tax of China’s Yatai Building Materials and India’s My Home Industries Limited, both of which enjoyed improved operating profits compared to 2018.

India: My Home Industries is preparing to increase its cement production capacity by 50% to 15Mt/yr. At present the cement producer produces 10Mt/yr of cement from four plants, according to The Hindu newspaper. The company’s board is currently considering whether to build a new plant or expand an existing one. A final decision is expected in mid-June 2018.

India: My Home Industries plans to open a new cement grinding plant at Tuticorin, Tamil Nadu in January 2017. The new plant is expected to expand the company’s market share in southern India, according to the New Indian Express newspaper. The cement producer has a production capacity of 8.4Mt/yr and the new unit will increase the total to 10Mt/yr.

“We are leaders in Andhra and Telangana. In Tamil Nadu we have about 7% market share and in Karnataka, it is about 5 – 6%. This plant would help strengthen our operations in Karnataka, Tamil Nadu and Kerala,” said Samba Siva Rao, the executive director of My Home Industries. He added that at present cement is transported to Tamil Nadu and Karnataka from a plant in Kurnool.

India: My Home Industries has launched a new logo for its flagship brand Maha Cement. “We have been around for nearly 18 years and our logo for our flagship brand Maha Cement has remained that of an old-style muscle man. But change is always required. The new logo has replaced the muscleman with a modern technician attesting for its quality,” said S Sambasiva Rao, Executive Director of My Home Industries in an interview with the New Indian Express newspaper. The joint venture between India’s My Home Group and Ireland’s CRH is expanding its business and building a 1.2Mt/yr plant at Tuticorin in Tamil Nadu.

India: My Home Industries plans to build a 1.5Mt/yr cement plant at a cost of US$225m in Guntur district, Andhra Pradesh. The plant is intended to take advantage of demand for cement generated by construction at the new state capital of Amaravati, according to comments by S Sambasiva Rao, executive director of My Home Industries, made to the Hans newspaper. Groundbreaking at the 1000 acre site is planned for late 2017 and the plant will take up to three years to build.

My Home Industries is a joint-venture between India’s My Home Group and Ireland’s CRH. It has production capacity of 8.4Mt/yr from plants in Nalgonda district in Telangana and Kurnool and Visakhapatnam districts in Andhra Pradesh. It is currently building a 1.2Mt/yr plant at Tuticorin in Tamil Nadu.

India: Maha Cement has announced that it plans to enter the Sri Lanka cement market with its joint venture company, My Home Industries Limited (MHIL), which is part-owned by Ireland's CRH. MHIL has 8.40Mt/yr of cement production capacity and plans to increase its capacity to 10Mt/yr by 2015. It plans to set up a cement plant in the east coast of Tamil Nadu, India, for import to nearby Sri Lanka.

India/Ireland: Following earlier speculation, Ireland's Cement Roadstone Holdings (CRH) has announced that its 50:50 Joint Venture in India, My Home Industries Ltd has reached an agreement to acquire the shares of Sree Jayajothi Cements, a 3.2Mt/yr cement producer in south India for a value of Euro175m.

Dow Jones reports that the investment will be financed from My Home Industries' existing debt capacity and by equity inputs from the joint shareholders (Euro70m). CRH's equity interest will amount to Euro35m.