India: UltraTech Nathdwara Cement has commissioned its upgraded Neem Ka Thana grinding plant following an 800t/yr capacity expansion. The project expanded the plant's capacity by 57% to 2.2Mt/yr.
The Hindu Business Line newspaper has reported that parent company UltraTech Cement's 22 integrated cement plants, one clinker plant and 27 grinding plants give it an 80% market reach in India.
Kenya: A court has ruled in favour of Absa Bank Kenya and Kenya Commercial Bank's right to appoint an administrator for Savannah Cement. The banks are seeking to recover US$72.9m owed by the producer. The Star newspaper has reported that a previous court ruling in December 2022 prevented the lenders from appointing an administrator or seizing assets.
Australia: James Hardie's sales were US$3.77bn during the 2023 financial year, up by 4% year-on-year from 2022 financial year levels. Its flagship North America fibre cement segment increased its sales by 9% to US$2.79bn, its Asia Pacific fibre cement segment increased its sales by 1% to US$527m and its Europe Building Products segment increased its sales by 3% to US$470m.
James Hardie's CEO, Aaron Erter, said “We delivered full-year adjusted net income and operating cash flows of US$606m and US$608m respectively. I am pleased with how the team adjusted during the 2023 financial year to prepare the company to thrive through this cycle. This is reflected in our strong fourth quarter results, including all three regions delivering significant earnings before interest and taxation (EBIT) margin improvement sequentially in the fourth quarter.”
Looking forward to the first quarter of the 2024 financial year, James Hardie forecast adjusted net income growth of between -6% and +6.9%, to US$145 - 165m, throughout the quarter.
Mexico: Cemex's waste management subsidiary Regenera has signed a deal with the municipal council of Huajuapan de León to receive the latter's sorted non-recyclable municipal solid waste (MSW). Under the deal, Regenera will receive up to 6000t/yr of MSW, which it will supply to Cemex's Tepeaca cement plant in Puebla.
