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India: Grasim Industries recorded consolidated sales of US$3.52bn in the first quarter of its 2023 financial year, up by 41% from first-quarter sales of US$2.5bn a year previously. Dow Jones Institutional News has reported that the group’s cement business contributed a net profit of US$402m, down by 8.8% year-on-year from US$441m.
Hsing Ta Cement cancels share repurchase 12 August 2022
Taiwan: Hsing Ta Cement says that it has cancelled a planned repurchase of US$266m-worth of its shares. The purchase was the company’s fourth successive planned transaction of that kind. It retains a total shareholding worth US$114m.
In the second quarter of 2022, Hsing Ta Cement recorded sales revenues of US$100m and a net profit of US$2.23m.
Cemex Servicios Logísticos rebrands as Alliera 12 August 2022
Mexico: Cemex’s North American logistics subsidiary Cemex Servicios Logísticos has changed its name to Alliera. Alliera will continue its 15-year tradition of operating as an independent third-party logistics company, serving customers across various industries.
Cemex Mexico president Ricardo Naya said “For Alliera, Cemex’s strategic priorities are ensuring our collaborators’ health and safety, sustainability and innovation. Within this package of priorities, we always seek growth, as we do now with Alliera, which is part of Urbanisation Solutions, our most recently created business branch.”
Siam Cement Group to issue US$426m debenture 11 August 2022
Thailand: Siam Cement Group has received approval to issue a new lot of debenture worth US$426m on 3 October 2022. The group says that the debenture replaces its existing lot, which will retire for redemption on 1 October 2022. The new lot has an interest rate of 3.25% and matures on 1 October 2026.
UltraTech Cement raises US$94.6m from commercial papers sale 11 August 2022
India: UltraTech Cement has received US$94.6m-worth in commitments on a planned sale of its commercial papers. Reuters News has reported that the papers will reach maturity in November 2022.