Economy & Market

Chinese cement equipment firm buys stake in LNV Tech

Published

12 years ago

December 4, 2013

admin

Sinoma International Engineering (Hong Kong), a part of the Chinese State-run National Materials Group Corporation, has entered the Indian cement equipment industry by acquiring a majority stake in Chennai-based equipment manufacturer LNV Technology. Sinoma International has 80 per cent market share in the cement equipment industry in China.

It bought 68 per cent stake in LNV Technology for Rs 130 crore. The rest of the share in the joint venture is held by VC Rao, Managing Director of the company, and LV Technology. VC Rao had around 51 per cent equity share in the company before the deal. The Chinese firm would provide LNV expertise in research and design, manufacturing, installation and after sales service, says Liu Zhijiang, group Chairman, China National Materials Group Corporation (Sinoma).

He says a partnership with LNTV will help it serve its Indian clients better. The company would gradually introduce a brand new business model for the local cement plant owners, he adds.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

admin

Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

admin

Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

admin

According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/