Global Cement News

Australia: Adbri has appointed Samantha Hogg as its deputy chair and Lead Independent Director. She will take up her new post following the resignation of Vanessa Guthrie at the end of February 2023.

Hogg holds over 25 years’ experience across the transport, infrastructure, energy and resources sectors. She was previously the chief financial officer at Transurban Group. She has also served as chair or committee chair in both the public and private sectors, with a focus on the infrastructure and renewable energy sectors. More recently, she was a member of the Australian National Covid-19 Commission Advisory Panel and the Tasmanian equivalent, focusing on the social and economic recovery from the pandemic. Hogg joined the board of Adbri in early 2022.

Pakistan: Lucky Cement has appointed Muhammad Sohail Tabba as its chair. It has also appointed Shabbir Hamza Khandwala as a director. Both appointments follow the death of former chair Muhammed Yunus Tabba in early January 2023.

Saudi Arabia: Tabuk Cement has appointed Yazid bin Khalid Al-Shathri as the chair of its board of directors. Other staff assignments include the appointment of Tariq bin Khalid Al-Anqari as vice-chair of the board and Amal Bint Hussein Redaa as secretary to the board. The company held an election in late December 2022 to appoint its board of directors from late January 2023 to January 2026.

Mexico: GCC recorded full-year sales of US$1.17bn in 2022, up by 13% year-on-year from US$1.04bn in 2021. The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also rose, by 7.4% year-on-year to US$363m from US$338m.

The producer increased its cement sales volumes by 2.9% in the US, while its cement volumes dropped by 2.9% in Mexico. Prices rose across both regions, by 12% and 13% respectively. An increased cost of production and increased freight and maintenance costs partly offset the rise.

GCC chief executive officer Enrique Escalante said “GCC’s focus on operational excellence enabled us to deliver strong results in an unprecedented market environment. We continue to anticipate challenges, mitigating their potential effects while also capitalising on important opportunities. Our team will continue to adapt to the evolving operating dynamics in the year ahead, as these will present further occasions for us to again leverage our exceptional competitive advantages.”

Oman: Aditya Birla Group subsidiary UltraTech Cement signed an agreement with Seven Seas Company to acquire a 70% majority stake in Duqm Cement on 30 January 2023. ET Now News has reported that UltraTech Cement’s UAE-based subsidiary Cement Middle East Investments concluded the deal in the form of a share sale and purchase agreement. the parties expect to complete the transaction in late April 2023.