Connect with us

Economy & Market

Summit’s cement business revenues jump in 2016

Published

on

Shares

Net revenues at Summit Materials cement business have increased by 12.7 per cent in 4Q16 and 49.3 per cent for the full year, as the company benefitted from the acquisition of the Davenport business from Lafarge North America in 2015, as well as rising average selling prices and strong demand in its core markets along the Mississippi River.
The company posted quarterly revenues of $70.7 million in 4Q16, with cement sales volumes up 0.6 per cent and average selling prices up 6.8 per cent. Quarterly earnings were 20.5 per cent up on the previous year at $35.6 million.
For the year, the cement business – including sales from the Davenport assets – reported revenues of $264.6 million with sales volumes up 37 per cent and average sales prices up 7.5 per cent. Earnings were up 51 per cent at $113 million, boosted by improved efficiencies and continued cost reductions.
"Our cement business represents a clear catalyst for growth heading into 2017," said Tom Hill, Summit’s CEO in a statement. "Limited domestic production capacity and continued growth in US demand have combined to create opportunities for sustained growth in industry cement pricing."

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Concrete

CCU testbeds in Tamil Nadu

Published

on

By

Shares

Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

Continue Reading

Concrete

JSW Cement gears up for IPO

Published

on

By

Shares

JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

Continue Reading

Concrete

Cement industry to gain from new infrastructure spending

Published

on

By

Shares

As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

Continue Reading

Trending News

SUBSCRIBE TO THE NEWSLETTER

 

Don't miss out on valuable insights and opportunities to connect with like minded professionals.

 


    This will close in 0 seconds

    This will close in 0 seconds