Titan Cementâs reports strong US and Greek revenues in the 1H21 30 July 2021
Titan Cement reported that in the USA the positive momentum in US fundamentals continued in the first half of the year. Revenue in the USA recorded a 10.2 per cent increase in US dollar terms in the 1H21 but was almost flat in euro terms (+0.8 per cent) at EUR479.3m.
US EBITDA reached EUR81.2m, up by 1.9 per cent in US dollar terms but down 6.8 per cent in euro terms when compared with the 1H20. The discrepancy is due to higher maintenance costs in the 1H21 as well as increased logistics and labour costs.
Titan Cement has SBTI validate its CO2 emission reduction targets
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Science-Based Targets Initiative validates Titan Cement s CO2 reduction goals - Cement industry news from Global Cement
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CAIRO, July 6 (Reuters) - Egypt’s competition authority has approved a request by 23 cement makers to reduce production temporarily to help reduce a glut in output, setting a baseline cut at 10.69%, a document seen by Reuters shows.
The competition authority decision, dated July 5, said there would be additional cuts of 2.81% for each production line and further cuts depending on the company’s age.
The quotas would come into force on July 15 and remain in place for one year, the document said.
Egypt’s cement production capacity has risen significantly in the last three years after the inauguration of the 13 million tonne-per-year plant owned by the military in Beni Suef, even as local sales halved, cement executives say.