Cement News tagged: Corporate
LafargeHolcim modernises terminal in West Virginia
LafargeHolcim has completed the modernisation of its cement terminal in Weirton (WV), USA, which had previously remained inactive for 10 years. The site will now be used to store and distribute speciality well cements for the oil and gas industry in the Appalachian region, according to a press release. "We have made a significant investment in the Weirton terminal in direct response to the ...
Lafarge (Mauritius) raises price of Baobab cement
The price of a 25kg bag of Baobab cement increased by MUR1-4 (US¢2.9-11.6) on 1 October 2018. Lafarge (Mauritius), which produces the cement, has reviewed the price of its Baobab range as a result of “increasing international raw material prices since the start of the year.” Bagged Baobab CEM II 42.5 now costs MUR115, up from MUR114, while Baobab Lakaz CEM II 32.5 cement is sold at MUR110/25k...
Chryso acquires Chemtec Admixtures in Ireland
Chryso has announced that it has expanded its admixture business in Ireland with the acquisition of Chemtec Admixtures Ltd, which will provide a unique offering on the growing construction market in the country, according to a press release. Chemtec Admixtures has operated as the exclusive distributor of the company for over 13 years in Ireland, providing admixtures for concrete, demoulding ...
Cim Ivoire starts up new plant
Cim Metal-owned Cim Ivoire has started production at its Abidjan grinding plant in Côte d’Ivoire. The 8650tpd grinding unit, which features a vertical roller mill, is the largest plant in the country and is expected to provide the cement producer with long-term logistical benefits. The project was carried out by Intercem Engineering, who also supplied the plant’s clinker and cement silos, pa...
Gharibwal Cement records 34% fall in net profit
Pakistan’s Gharibwal Cement Ltd has announced a 33.9 per cent YoY drop in net profit for the FY18 ended 30 June, falling to PKR1.509bn (US$12.2m) from PKR2.283bn. Despite this, sales increased 2.3 per cent to PKR11.48bn from PKR11.22bn. Distribution costs rose 19.7 per cent YoY to PKR383m against PKR320m of the previous year, while administrative expenses decreased 3.7 per cent to PKR2.6m fr...
Haver & Boecker enters joint venture in South Africa
Haver & Boecker has entered into a joint venture with South Africa’s Portland Packaging (Pty) Ltd, marking the first time a global, full-line packaging company has domestically manufactured products for the African market, according to a press release. “Bringing together the ingenuity and dedication of both of our manufacturing teams will be a huge benefit for Africa,” said Florian Festge, m...
EBRD sells its stake in Holcim Azerbaijan
The European Bank for Reconstruction and Development (EBRD) has sold its 10 per cent stake in Holcim Azerbaijan to LafargeHolcim. Therefore, the company’s share in Holcim Azerbaijan has now risen from 66 to 76 per cent. EBRD had owned the shares from 2007 and refused to increase its stake in the company to 20 per cent in August 2017, according to AzerNews. Holcim Azerbaijan, formerly Garada...
Guinée Industries Cement starts expanded works
Guinée Industries Cement announced the official start of its upgraded cement production facility on 29 September 2018. The modernised works has increased its capacity from 0.7Mta to 1.4Mta. "I think today is a big sigh of relief and great comfort for our group. Because our vision is to facilitate the supply of major infrastructure projects in the country in quality product. Today, with this ...
Buzzi Unicem announces share purchase
Following the commencement of its share buyback scheme, Buzzi Unicem has announced that it acquired 244,100 ordinary shares in the 24-28 September period. The company purchased the shares for a total consideration of EUR4.495m (US$5.2m) at an average price of EUR18.41. As of 28 September, the company now holds 297,600 ordinary shares and 29,290 saving shares, equal to 0.16 per cent of the is...
CRH appoints two non-executive directors
CRH has announced the appointment of Mary Rhinehart and Siobhan Talbot as non-executive directors of the board. Ms Rhinehart and Ms Talbot will join the company with effect from 1 October and 1 December, respectively. Ms Rhinehart is chairman, chief executive officer and president of Johns Manville Corp, a Berkshire Hathaway company, which is a leading global manufacturer of premium-quality ...
Longleaf Packaging begins constructing its first plant
Longleaf Packaging has broken ground on its first cement packaging and distribution facility at Orangeburg, South Carolina, USA. The company is investing around US$6m and is projected to create 28 new jobs at the 28-acre site over the next five years. The plant will package and distribute bagged, pre-blended and dry-mix products, with production expected to commence in the 4Q18. Alongside Por...
GCCA appoints Andrew Minson to executive team
The Global Cement and Concrete Association (GCCA) has announced the appointment of Dr Andrew Minson as Concrete and Sustainable Construction Director. Dr Minson joins the GCCA from the UK-based Mineral Products Association and will take up the role in January 2019. Dr Minson will lead the GCCA’s work in promoting the sustainability value of concrete in the future of construction, according to...
Cementos Fortaleza begins construction of cement mill
Mexico’s Cementos Fortaleza, part of Elementia, has begun the construction of a new 0.25Mta cement mill in Merida, Yucatan. The plant represents an investment of US$30m and will occupy a 7ha area, including space for a production area, two warehouses and a general services unit. The plant is expected to contribute to the growth of the construction sector in Yucatan, which recorded a 19 per c...
Increase in seaborne coal and petcoke prices impact producers
Seaborne thermal coal and petcoke prices rose by 16-24 per cent YoY during the 1H18 period, eroding almost four per cent of the aggregate EBITDA of LafargeHolcim and HeidelbergCement, according to a Morgan Stanley report. However, this is expected to slow or reverse into next year. Prices of seaborne thermal coal are anticipated to fall 15 per cent in 2019 compared to 1H18, with petcoke foll...
Pakistan cement producers record falling sales
Pakistan’s Fecto Cement Ltd has announced a 42 per cent YoY fall in profit for the FY18 ended 30 June, declining to PKR441m (US$3.56m) from PKR760m. Net sales of the company decreased 4.5 per cent to PKR4.9bn, compared with PKR5.13bn from the year-ago period. The company has a cement production capacity of 0.819Mta from its facility in Sangjani, Punjab. Elsewhere, Pioneer Cement Ltd has reco...
Lafarge Africa receives shareholder approval for NGN90bn rights issue
Lafarge Africa has received shareholder approval to raise NGN90bn (US$246.93m) of capital through a rights issue and to restructure its short-term shareholder loan. “The additional capital to be raised will further help to deleverage the company’s balance sheet and provide head room for the expansion of our business,” said Mobolaji Balogun, chairman of the board, Lafarge Africa. Michel P...