Displaying items by tag: Sri Lanka

Sri Lanka: Praveen Gnanam has been appointed to the Board of Tokyo Cement Company (Lanka) as a Non-Independent Director. He joined Tokyo Cement in 2012 as Special Projects Coordinator and was promoted to Head of Innovation Department in 2015.

Gnanam holds over a decade of experience in the hardware and construction materials industry as well as in renewable energy. Prior to joining Tokyo Cement, he worked in consulting for Los Angeles-based firm Innovation Protocol, and as a Research Analyst and a Brand Associate for clients such as eBay, PayPal and Republic Waste Management.

Sri Lanka: Tokyo Cement (Lanka) has informed the Colombo Stock Exchange of an upcoming extraordinary general meeting of its shareholders. The meeting will decide whether to approve the sale of 10% of the company's shares.

Bangladesh: Cement producers and traders exported US$9.68m-worth of cement during the first nine months of the 2023 financial year. This corresponds to a year-on-year rise of 49% from US$6.51m during the first nine months of the 2022 financial year. The Bangladesh Export Promotion Bureau is targeting full-year growth of 15% year-on-year to US$11m from US$9.57m. Maritime Gateway News has reported that MI Cement Factory contributed 50% of Bangladesh’s cement exports so far in the 2023 financial year.

Bangladesh’s main trade partners for its cement exports for India, Nepal, Sri Lanka and the Maldives.

Sri Lanka: Bogala Graphite has launched its new cement-strengthening graphene oxide additive. Daily FT News has reported that potential investors will be able to discuss the new technology with Bogala Graphite at the forthcoming Industry 4.0 and Industry 5.0 exhibition later in February 2023.

Sri Lanka: Tokyo Cement recorded sales of US$74.8m during the first nine months of the 2023 financial year, up by 25% year-on-year. Its cost of sales dropped by 2% to US$49.7m, while its profit for the period rose by 60% to US$2.35m.

Sri Lanka: Tokyo Cement Group has expressed its deepest condolences to the family of Ranjeevan Seevaratnam, a member of the company's board of directors, who died on 19 January 2023. Seevaratnam's board experience spanned multiple companies in the cement, activated carbon, agriculture, construction, consumer goods, engineering, rubber and transport industries. He held memberships in the Institute of Chartered Accountants of Sri Lanka and the Institute of Chartered Accountants of England and Wales.

Tokyo Cement described Seevaratnam as a 'visionary thought leader.'

Sri Lanka: INSEE Cement has appointed Jan Kunigk as its chief executive officer (CEO). He succeeds Nandana Ekanayake, who will continue as chair.

Kunigk became the cement producer’s Executive Vice President in 2017, and also worked as its Commercial Director. He previously worked as the Senior Vice President at Holcim Indonesia and has held project and strategy and roles for Holcim in Switzerland. Prior to this, he worked in management consulting. Kunigk holds a master's degree in business administration (MBA) from Western Illinois University in the USA and a diploma in European Business Studies from Bamberg University in Germany.

Sri Lanka: INSEE Cement and the International Union for Conservation of Nature and Natural Resources (IUCN) have signed a memorandum (MoU) of understanding to extend their global biodiversity management partnership until 2026. Projects include quarry restoration, wildlife rescue and release and field surveys of the Koggala and Aruwakkalu mangrove restoration sites and Unawatuna manmade coral reef.

INSEE Cement's environment and corporate social responsibility manager Rohan Lakmal said "Biodiversity is one of the fundamental pillars of INSEE's Sustainability Ambition 2030. Our partnership with IUCN enables INSEE Cement to meet our own ambitious sustainability targets, while also creating more awareness of the general decline in Sri Lanka's biodiversity, and the urgency to do our part to conserve our natural habitats."

Sri Lanka: Tokyo Cement's consolidated sales rose by 34% year-on-year to US$82.8m during the first half of its 2023 financial year. Its cost of sales rose by less than 1% to US$50.8m. As such, the company recorded a profit for the period of US$10.1m, up by more than a factor of eight from first-half 2022 financial year levels.

Sri Lanka: Insee Cement has broken ground on its construction of a 45,000m³-capacity storage facility at Hambantota International Port. When commissioned in early 2023, the facility will store ground granulated blast furnace slag (GGBFS) for use in Insee Cement's cement production. Daily News has reported the cost of the facility's construction as US$3m. At 17,300m², the Hambantota storage facility will be the largest warehouse at any port in Sri Lanka.

Insee Cement chair and CEO Nandana Ekanayake said "Hambantota Port is a vital link in our raw materials supply chain. Insee Cement has been using this port since 2018 and so far we have cleared around 1.7Mt of bulk cargo through the port, of which we did a little over 1Mt in 2021. Today, we laid this foundation as another step to strengthen our partnership with Hambantota International Port Group." Ekanayake concluded "We see great potential in developing channels through Hambantota International Port and we will double our investment in the future."