Nigeria: BUA Cement recorded US$444m in sales revenues in the first half of 2022, up by 52% year-on-year from first-half 2021 levels. The producer’s profit after tax was US$145m, up by 41% year-on-year.

India: Ramco Cements reported consolidated sales of US$225m in the first quarter of its 2023 financial year, up by 44% year-on-year. The producer recorded ‘weak’ cement prices in the quarter, during which time fuel costs rose ‘sharply.’ Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to US$39.2m, while its net profit fell by 34% to US$14.4m.

Ramco Cements’ capital expenditure during the quarter totalled US$61.3m.

India: Adani Group has secured US$5.25bn-worth of bank loans from Barclays, BNP Paribas and Citigroup for its acquisition of Holcim’s Indian cement businesses ACC and Ambuja Cements. The Business Standard newspaper has reported that the group plans to expand its cement capacity by 43% to 100Mt/yr from 70Mt/yr.

Jamaica: Caribbean Cement recorded operating earnings of US$28.2m in the first half of 2022, down by 2% from US$28.8m in the first half of 2021. The company’s net income also fell by 2%, to US$19.7m, despite a 10% rise in sales to US$88.5m. The company attributed its decline in earnings to increased operational expenses amid a ‘downturn in the global economy.’

Nigeria: Dangote Cement says that it raised the thermal substitution rate of alternative fuels (AF) in its group cement production by 25% year-on-year in the first half of 2022. It co-processed 67,200t of locally-sourced waste in its operations during the half.

Chief executive officer Michel Puchercos said “Although significant increases in energy and AGO costs are impacting production, we are strengthening our efforts to ramp up the usage of AF. Our on-going Alternative Fuel Project aims to leverage waste management solutions, reduce CO₂ emissions and source material locally.”

Austria: Refractory producer RHI Magnesita increased its consolidated sales by 33% year-on-year to Euro1.6bn in the first half of 2022 from Euro1.2bn in the first half of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 37% to Euro245m from Euro 179m. Profit before tax rose by 14% year-on-year to Euro142m from Euro125m.

Looking forward to its full-year 2022 results, RHI Magnesita forecast unchanged earnings, based on ‘strong demand’ in the year to date and its order book for the second half of the year. It said that inflation and monetary policy responses, labour and energy market tightness and on-going supply chain disruption have impacted its global growth outlook. It will rely on price rises to maintain its margins, as well as on strategic cost saving initiatives.

Chief executive officer Stefan Borgas said “In the first half of 2022 we further demonstrated the benefits of prioritising customer deliveries in an environment of continued supply chain volatility. Our investment in inventories to ensure our customers remain supplied with essential refractories has underlined the importance of supply reliability and has enabled us to simultaneously increase prices and gain market share. Following major investments in our production network, a reduction in our selling, general and administrative expenses and progress on our sales strategies, the group is in a strong position to maintain its leadership position in the refractory industry and to navigate future challenges.”

UK: Breedon Group has acquired marine aggregates producer Severn Sands. With sales revenues of Euro10.5m in 2021, Severn Sands holds multiple dredging licences for operations in the Bristol Channel.

Breedon Group said that the acquisition ‘enhances our operational capability, secures scarce mineral reserves and resources, and ensures our downstream operations in the Gloucestershire and South Wales region are fully vertically integrated.’

US: Calucem, part of Cementos Molins, plans to establish a new calcium aluminate cement plant in New Orleans, Louisiana. The company will invest US$35m in the project and expects to commission the plant in mid-late 2023. It expects to create 70 new direct jobs and a total of 228 new jobs locally.

Calucem president and chief executive officer Yuri Bouwhuis said “Calucem is taking on a new investment that will support our growth and diversification in the US and ensure that we continue to offer high-value products to our global customers. Our choice of Louisiana for our first all-new manufacturing project in the US is due to the availability of strategic raw materials such as limestone and natural gas, access to waterways and skilled labour and the long history of using speciality cement products in the US.”

China: Hainan Ruize New Building Material has agreed to sell an 85% stake in its cement subsidiary Zhaoqing Jingang Cement to China Resources Cement. Reuters News has reported the value of the deal as US$80.1m.

China: Anhui Conch Cement and Xinjiang Tianshan Cement plan to launch a joint venture. Reuters News has reported that the companies will inject the joint venture with registered capital of US$297m.