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.
Cementos Molins increases its sales and earnings in first half of 2022
Spain: Cementos Molins increased its first-half 2022 consolidated sales by 35% year-on-year to Euro608m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 4% to Euro132m. The group said that its implementation of operational efficiency plans successfully offset cost inflation. Its net profit was Euro57m, in line with that in the first half of 2021.
Chief executive officer Julio Rodríguez said "Despite the markets growth slowdown and the uncertain global context, at Cementos Molins we continue to move confidently towards achieving the objectives of our strategic plan 2020-2023.”
Anhui Conch Cement and Xinjiang Tianshan Cement to establish joint venture
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.
HIL to acquire Fast Build Block
India: CK Birla Group’s fibre cement roofing subsidiary HIL has agreed to acquire Fast Build Blocks for US$8.22m in a ‘slump sale.’ Fast Build Blocks produces autoclaved aerated concrete (AAC) blocks in Cuttack, Odisha. Press Trust of India News has reported that HIL is using the acquisition to establish a leadership position in the Eastern Indian market.
