Global Cement News

Spain: Votorantim Cimentos Spain has appointed Carmen Boulet as Director of Sustainability, Strategy and New Businesses. She previously worked for McKinsey & Company as an Engagement Manager before working for Google in Spain as Strategic Partner Manager Lead and later becoming the Strategy Director for Clarity AI. Boulet holds a master of engineering degree from the Universidad Pontificia Comillas and a master of business administration qualification from the Columbia Business School.

US: Giant Cement Holding (GCH) has appointed Michael Greto as its Vice President of Supply Chain.

Greto joined GCH’s cement division in 2008 and previously worked as the company’s Director Of Logistics from 2019. He holds an undergraduate degree in transportation economics from Embry-Riddle Aeronautical University and Advanced Studies APICS Certifications in Supply Chain Management from Villanova University.

GCH, a subsidiary of Fortaleza Materiales, consolidates US-based cement companies Giant Cement, Keystone Cement, Dragon Products and energy recovery operations through Giant Resource Recovery.

India: Christian Pfeiffer has appointed Krishna Mohan Gundapaneni as its Area Sales Manager for South East Asia.

Gundapaneni previously worked for FLSmidth in India from 2008 in a variety of sales roles starting as its Deputy General Manager - Project Sales. He became the equipment supplier’s Area Sales Manager - Pyro & Grinding - Capital Products at the start of 2024. Prior to working for FLSmidth he was the Deputy Manager – Marketing for Fives Cail KCP. He holds a bachelor of technology in mechanical engineering from the Velagapudi Ramakrishna Siddhartha Engineering College and a master of business administration from Andhra University.

Saudi Arabia: Qassim Cement Company (QCC) has successfully completed the acquisition of Hail Cement Company (HCC) for US$378m. The transaction, initially announced on 25 September 2022, involved increasing QCC's capital to facilitate the acquisition of all HCC shares. The acquisition follows a binding implementation agreement reported by HCC on the Saudi Exchange.

Kazakhstan: Steppe Cement saw a notable decrease in net profit to US$4.5m in 2023, down from US$17.9m in 2022. The company also reported a decrease in revenue to US$81.8m from US$86.7m in 2022, largely due to competitive pressures and logistical challenges, that affected exports. Despite these hurdles, domestic sales grew by 4%, though exports nearly ceased, reflecting the new capacities in neighbouring Uzbekistan which have driven down prices and diminished profits from exports.

The country's cement market contracted slightly to 11.5Mt in 2023, with per capita consumption settling at 575kg. The local cement industry has balanced demand and production, but seasonal fluctuations continue to affect the market, particularly in northern regions. Production costs increased by US$8m and the company has responded by increasing capacity by 0.1Mt with a US$3.1m capital expenditure aimed to enhance efficiency at its facilities. Looking ahead to 2024, an additional US$2.4m is earmarked for further improvements.