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Shree Cement’s net profit dips 10% in Q3 FY19

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Shree Cement recorded a 10 per cent dip in its standalone net profit during the quarter ended December 31, 2018. The company’s profit after tax (PAT) was Rs 301.29 crore as against Rs 333.33 crore in the corresponding quarter previous year. Its net income stood at Rs 2,835.94 crore, up 19 per cent from Rs 2,390.01 crore in the similar quarter last year.

The company’s board of directors has declared an interim dividend at the rate of Rs 25 per equity share of Rs 10 each for the FY 2018-19. The dividend will be paid from 1st February, 2019.

Shree Cement has commissioned its 3Mt/yr integrated plant at Kodla, Kalaburagi in Karnataka state during the reporting quarter. The cement mill and the clinker line at the line were commissioned at the same time in late December 2018.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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