Global Cement News

Nigeria: Dangote Cement's sales more than doubled to US$584m in the first quarter of 2024. Group earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 67% to US$221m. Profit grew by 3% to US$80.5m. Consolidated cement volumes rose by 16% to 7.3Mt, while domestic Nigerian volumes rose by 26% to 4.6Mt.

CEO Arvind Pathak said “These results underscore our ability to adapt and thrive in a dynamic business environment while delivering value to our stakeholders.” He added “We continue to prioritise innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future.”

Nigeria: BUA Cement reported sales of US$115m in the first quarter of 2024, up by 51% from US$76m in the first quarter of 2023. The producer’s cost of sales, meanwhile, more than doubled to US$83m. As such, post-tax profit declined by 33% to US$12.8m.

India: Orient Cement has successfully commissioned Phase 2 of the new waste heat recovery (WHR) plant at its Chittapur cement plant in Karnataka. Reuters has reported that the new phase raises WHR power capacity at the plant to 10.1MW.

Mexico: Cemex announced that it has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows Standard & Poor’s Global Ratings' upgrade announced in March 2024.

Fernando González, CEO of Cemex, said "Achieving investment grade is a milestone for Cemex. This rating is confirmation of both our strategy and our execution against it.”

Greece: FLSmidth has signed a two-year global service agreement with Titan Group to support 14 cement plants, three grinding plants and a cement terminal across locations including Greece, southeastern Europe, Türkiye, Egypt, Brazil and the US. The agreement encompasses a variety of onsite and remote services such as inspections, audits, troubleshooting and training for diverse equipment types, including material handling and storage, mills, kilns, coolers and pollution control systems.

Vice President of Service at FLSmidth, Isabelle Balmir, said "Titan Group is one of the leading international cement companies. With this contract, we are excited to continue our long-standing partnership and collaboration towards efficiency and sustainability. As we have service expertise located across the world, we are well positioned to support their global footprint."