News

In a bid to strengthen its presence in the cement industry, Adani-owned Ambuja Cements is all set to acquire a majority stake in operations of Sanghi Industries, reported Reuters.

National Bureau of Statistics of China has published the report of national economy development in June, among which the production of cement has reached 185.03 Mt with a year-on-year decrease of 1.5 %, while the output during January and June has reached 953.0 Mt with a year-on-year growth of 1.3 %.

UltraTech announced that it has partnered with World Economic Forum (WEF) Moving India initiative which was launched by WEF at the G20 Energy Ministers’ meeting in Goa.

JK Lakshmi Cement is planning to invest about Rs 8,000 crore over a six-year timeline, in order to scale up capacity to 30 million tpa from the projected 18 million tpa by end of FY24. The company’s overall aim is to ramp up to 30 million tpa by 2030.

Aalborg Portland and Fidelis New Energy (Fidelis) have entered into a letter of intent for safe and permanent storage of Aalborg Portland's CO2 emissions utilizing Fidelis' recently announced Norne Carbon Storage Hub (Norne) in Aalborg. This agreement is a milestone accomplishment for the decarbonization of cement production, making Aalborg Portland an industry leader in carbon impact and further demonstrating Denmark's commitment to being a global leader in decarbonizing hard to abate industries.

Holcim has acquired INDAR, a leading hardware wholesaler in Mexico with 2022 net sales of USD 71 million. With this acquisition, Holcim adds more than 10,600 additional hardware products to its range of solutions across its Disensa retail network. INDAR supplies hardware of over 80 leading brands, from roofing needs to tools and adhesives all the way to electrical and plumbing supplies. The acquisition includes INDAR’s nine distribution centers around the country, as well as its fulfillment center in Guadalajara.

CEMEX announced a series of corporate governance enhancements that continue the Company’s commitment to evolving its corporate governance profile towards global best practices. The additional enhancements announced today are further to the changes announced on February 24, 2022, highlighting the Company’s proactive and sustained focus on corporate governance matters.