India: The board of directors of Prism Johnson has approved plans for the company to raise funds through unsecured non-convertible debentures. The total value raised will be US$12.8m. The producer will issue the debentures on a private basis.
Disaster at Saurashtra Cement’s Porbandar cement plant kills three construction workers
India: Three construction workers have died after scaffolding collapsed inside the chimney of Saurashtra Cement’s Porbandar cement plant in Gujarat. India Today Online News has reported that a team of ten builders was performing repair work before the accident occurred. Four of the seven survivors remain trapped. District officials have established contact with them via a drone.
CalPortland joins Wildlife Habitat Council
North America: US-based CalPortland has become a corporate member of the Wildlife Habitat Council. The council manages habitats to support sustainable ecosystems and the communities surrounding them. The Japan-based Taiheiyo Cement subsidiary says that the move formalises its commitment to integrating biodiversity and conservation action into its sustainability efforts.
President and chief executive officer Allen Hamblen said "Our membership with the Wildlife Habitat Council provides a unique opportunity to take corporate sustainability goals and objectives and translate them into tangible, on-the-ground actions which ensure a sustainable environment for the next generation."
Loma Negra increases sales, earnings and profit in first half of 2021
Argentina: Loma Negra recorded first-half 2021 consolidated sales of US$290m, up by 44% year-on-year from US$201m. It increased its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 64% to US$100m from US$61.0m. Its net profit was US$86.0m, compared to US$12m in the first half of 2020. The company sold 2.79Mt of cement in the period, up by 39% from 2.01Mt.
Chief executive officer Sergio Faifman said “We are pleased to announce another quarter with an excellent performance. Demand continues with a strong momentum, and after several quarters of recovery is now exceeding pre-pandemic levels.” He continued “For the second half, we expect strong recovery to continue and an expansion vis-à-vis pre-pandemic levels, as seasonality and public works should begin to contribute positively. Nonetheless, we remain cautious, as the macroeconomic context may affect the recovery and some degree of uncertainty remains in relation to the pandemic.”
