Global Cement News

Tunisia: Votorantim Cimentos has signed an agreement to sell its Tunisian assets to China-based Sinoma Cement for US$130m, according to Yicai Global. The deal's completion depends on regulatory approvals from China, Tunisia and the Common Market for Eastern and Southern Africa (Comesa).

All of Votorantim Cimentos' plants and offices in Tunisia will continue to operate as usual during the regulatory review.

Nigeria: Dangote Cement has reported its financial results for the first half of 2024. The company recorded a net profit of US$117m, marking a 6% year-on-year increase from US$110m in the first half of 2023. Revenue also saw an increase to US$1bn, up by 85% year-on-year from US$587m. During the period, the company’s production volume was 13.8Mt, representing a 4% increase from the 13.2Mt produced during the first half of 2023. The group also reported a year-on-year increase of 50% in earnings before interest, depreciation and amortisation (EBITDA) of US$411m.

Afghanistan: The National Development Corporation has announced that the production capacity of the Ghori Cement plants in Baghlan has increased to 700t/day from 350t/day previously, according to Bakhtar News Agency. This increase is reportedly due to attention from Islamic Emirate’s officials and the efforts of the National Development Corporation under the country’s new government.

Engineer Shafiullah Wahidi, director of Ghori Cement, revealed that 700 technical staff are working in three shifts to maintain production levels. Local residents and traders are urging further production increases to favour domestic products over foreign imports.

UK: A steel and cement co-recycling process developed at the University of Cambridge has received US$2.9m in seed funding. Cambridge Electric Cement is utilising slag produced during the steelmaking process, which uses electric arc furnaces instead of blast furnaces, as clinker for cement. The researchers are conducting a US$8.4m trial called Cement 2 Zero to test the production process, aiming to produce 110t of recycled cement during the two-year program.

Mexico: Cemex has reported its first-half results for 2024. Net income fell by 15% to US$230m, although earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 2% to US$965m. Sales remained flat at US$4.5bn. They rose in Mexico by 13%, to US$2.7bn, and in Central and South America and the Caribbean by 3%, to US$879m. However, they fell in the US by 2%, to US$2.6bn, and in Europe, the Middle East, Africa and Asia by 8%, to US$2.24bn.

Fernando Gonzalez, CEO of Cemex, said "These results demonstrate the effectiveness of our commercial management and growth strategy. The price contribution of our products continues to outpace our input cost inflation."