Global Cement News

Saudi Arabia: Saudi Cement’s consolidated sales totalled US$207m in the first half of 2021, up by 3.9% year-on-year from US$199m in the first half of 2020. Its net profit for the period took an 8.2% drop to US$54.9m from US$59.8m.

Australia: James Hardie has raised its full-year earnings forecast for the 2022 financial year to US$550-590m from US$520-570m. The decision follows a year-on-year increase in consolidated sales of 35%, to US$843m from US$624m.

Thailand: Siam Cement Group (SCG) plans to raise US$747m through the issuance of fixed-rate debentures. Dow Jones Institutional News has reported that SCG will pay a 2.7% coupon on the debentures, which will be due in 2025. The group will use the proceeds to replace existing debentures when they expire in October 2021.

Peru: The Directorate for Research and Promotion of Free Competition (DLC) of the Peruvian National Institute for the Defence of Competition and Protection of Intellectual Property (INDECOPI) has launched administrative proceedings against Gloria Group subsidiary Yura. The El Comercio newspaper has reported that nine Yura employees face allegations of participating in, planning and executing anti-competitive conduct. Logistics partner Racionalización Empresarial is also subject to the investigation.

Germany: Australia-based FCT Combustion has delivered a Turbu-Flex burner to HeidelbergCement’s Burglengenfeld, Bavaria, cement plant. The joint aims of the project are to improve combustion control and to increase the alternative fuel (AF) substitution rate in the plant’s kiln lines. The equipment is scheduled for commissioning in early 2022.