18 October 2022

India: Dalmia Cement (Bharat) and Sagar Cements have submitted acquisition offers to Andhra Cements' administrator and committee of creditors. The Business Standard newspaper reported that the company owes its lenders total debts of US$118m and is valued at between US$42.5m and US$48.6m.

India: HeidelbergCement India recorded consolidated sales of US$61.5m during the second quarter of its 2023 financial year, down by 11% year-on-year from US$69.2m in the second quarter of the 2022 financial year. The Heidelberg Materials subsidiary's net profit in the quarter fell by 88% over the year, to US$852,000 from US$7.24m in the 2022 financial year's second quarter. The second quarter of the 2023 financial year brought a 0.3% year-on-year drop in the producer's operating expenses, to US$55.7m from US$55.9m.

Spain: Cementos Portland Valderrivas plans to make Euro6m-worth of investments in its Alcalá de Guadaira cement plant in Seville. The funds will go towards the construction of a refuse-derived fuel (RDF) line to help reduce the plant's petcoke consumption, as well as the renewal of the plant's mining licence for its quarry.

India: Udaipur Cement Works plans to raise US$42.6m through the sale of bonds, Reuters News has reported. The producer says that the bonds will mature in March 2025.

Pakistan: Lucky Cement bought back more of its own shares on 17 October 2022. The total value of the purchase was US$408,000.

Lucky Cement previously bought back US$212,000-worth of shares earlier in October 2022, under the same resolution of it board from 20 September 2022.