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News growth

Displaying items by tag: growth

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Pioneer Cement increases sales and profit in first half of 2023 financial year

23 February 2023

Pakistan: Pioneer Cement's sales were US$95.7m in the first half of its 2023 financial year. This corresponds to a 19% year-on-year rise from US$80.2m in the first half of the 2022 financial year. The producer overcame 20% growth in its cost of sales to US$53.2m from US$44.2m, to record a profit after tax of US$6.72m, up by 54% from US$4.36m.

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Sagar Cements discloses price of Andhra Cements acquisition

20 February 2023

India: Sagar Cements says that it will pay US$111m to acquire Andhra Cements outright. The Hindu BusinessLine News has reported that the deal will more than double the producer's capacity to 8.25Mt/yr. By 2025, Sagar Cements expects to increase the newly acquired subsidiary's clinker capacity by 1.2Mt/yr, and its grinding capacity by 600,000t/yr. The group plans to invest US$56.8m in capital expenditure before 2025 in order to realise its plans.

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UltraTech Cement commissions expanded 2.5Mt/yr Jharsuguda grinding plant

07 February 2023

India: UltraTech Cement has commissioned a new 1.5Mt/yr grinding unit at its Jharsuguda grinding plant in Odisha. The unit more than doubles the plant's capacity to 2.5Mt/yr. The Hindu BusinessLine News has reported that UltraTech Cement now has a production capacity of 4.1Mt/yr in Odisha. The Eastern Indian state thus hosts 3.3% of the producer's total capacity of 123Mt/yr.

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US increases cement production amid consumption boom in 2022

07 February 2023

US: US cement companies produced 95Mt of cement in 2022, up by 2.2% year-on-year from 93Mt in 2021, according to the United States Geological Survey (USGS). The country exported 900,000t of cement and clinker, down by 4.3% from 940,000t. The USGS recorded a 9.1% leap in apparent national consumption, to 120Mt from 110Mt. Cement imports helped to close the gap, rising by 20% year-on-year to 24Mt from 19.9Mt.

Among the US's main trade partners for cement imports, cement production fluctuated in 2022. Turkish cement production rose by 3.7% year-on-year to 85Mt, Mexican cement production fell by 3.8% year-on-year to 50Mt and Vietnamese cement production rose by 9.1% year-on-year to 120Mt. Globally, the USGS estimated a year-on-year cement production decline of 6.8% to 4.1Bnt.

Published in Global Cement News
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Birla Corporation boosts sales in loss-making first nine months of 2023 financial year

06 February 2023

India: Birla Corporation recorded nine-month consolidated sales of US$751m so far in the 2023 financial year, up by 20% year-on-year from US$628m in the first nine months of the 2022 financial year. The company made a net loss of US$5.37m however, compared to a net profit of US$34.7m during the first nine months of the 2022 financial year.

Birla Corporation did not publish a figure for fuel and electricity costs, however its raw materials costs rose by 25% year-on-year to US$111m, while its 'other expenses' more than doubled to US$565m.

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Indian cement demand to exceed 380Mt in 2023 financial year

31 January 2023

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.

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East African Portland Cement Company plans expansion into DRC and Rwanda

26 January 2023

East African: Kenya-based East African Portland Cement Company (EAPCC) has announced plans for an international expansion into the Democratic Republic of Congo. The planned expansion will accompany continued capital expenditure investment in the company’s existing Athi River cement plant in Kenya over the five-year period up to 2028.

CEO Oliver Kirubai said that EAPCC expects ultimately to ‘outgrow the regional cement market.’

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Unacem Perú to 'significantly increase' cement capacity

23 January 2023

Peru: Unacem Perú plans to 'significantly increase' its cement production capacity 'in the medium-term future.' Prior to that, the producer will invest US$130m in capital expenditure during 2023, double what it invested in 2022. The investments will go towards slightly expanding the producer's capacity from 8.3Mt/yr and increasing alternative raw materials use in its cement production, including pozzolan and ground granulated blast furnace slag (GGBFS). Additionally, it will open its new Manchay limestone quarry in Pachacámac in early 2023.

Unacem said that it increased its cement sales 'unexpectedly' during 2022. It operated at 85 - 90% capacity utilisation, and continued to export clinker.

Published in Global Cement News
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NCL Industries’ third-quarter cement production rises in 2023 financial year

17 January 2023

India: NCL Industries produced 713,000t of cement in October – December 2022, the third quarter of the 2023 financial year. The figure corresponds to a rise of 27% year-on-year from 561,000t in the corresponding quarter of the 2022 financial year. NCL Industries produced 19,300t of cement boards throughout the quarter, down by 3% year-on-year from 19,900t.

Published in Global Cement News
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Vietnam's cement capacity to grow by 4% in 2023

16 January 2023

Vietnam: New cement lines will raise Vietnamese cement production capacity by 4% year-on-year in 2023 to over 120Mt/yr. Vietnam News Summary has reported that upcoming new capacity scheduled to commence operations during the year include a 4.5Mt/yr line at a Xuan Tanh Cement plant and a 2.5Mt/yr line at a Long Son Cement plant.

Vietnamese cement demand was 65Mt in 2022. Several producers suspended cement lines during the second half of that year due to high costs and unfavourable market conditions.

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