Cement News tagged: Corporate
Azerbaijan: Akkord Concrete and Gazakh Cement merge
The Akkord Industry Construction Investment Corporation OJSC has merged two of its businesses. The Akkord Concrete LLC and Gazakh Cement plant LLC have been merged, according to a news report from the Azeri-Press Agency. The news agency says the merger between the two enterprises was made known by the Ministry of Taxes. Akkord Cement LLC operates the 1Mta Gazakh cement plant in Dash Sala...
Philippines: competition commission probes cement industry
The Philippine Competition Commission (PCC) has warned cement companies of the repercussions should it violate antitrust laws. PCC Commissioner, El Cid Butuyan, said, "We intend to exercise our enforcement powers in a way that is envisioned under the law, which is a muscular agency, not a paper-pushing, rubber-stamping agency." The agency has decided to investigate the country’s cement indu...
Pakistan: Pioneer Cement profits up slightly in FY2016
Pakistan cement producer Pioneer Cement Ltd has reported post-tax profits of PKR2.51bn (US$24m) for the financial year ended June 2016, a rise of 0.9 per cent YoY. In a notice to Pakistan Stock Exchange (PSX), the company stated that its net sales increased by 11 per cent to PKR9.36bn over the same period. Pioneer incurred distribution costs of PKR60m and administrative expenses of PKR81.5m...
Chile's three largest cement producers sees 1H sales rise 3.7%
Chile's top three cement companies - Cemento Melon, Cementos Polpaico and Cementos Bio Bio - recorded a 3.7 per cent YoY rise in sales to CLP339.82bn (USD510.48m) in the first six months of 2016. This represents the lowest growth rate in three years. Cementos Bio Bio's sales increased 6.6 per cent to CLP151.9bn as it was affected by the economic slowdown. Cementos Polpaico posted sales of CL...
USA: public asked for their comments on Martinsburg plant's future
Federal regulators are seeking public opinion on one aspect of the pending US$4.2bn merger between HeidelbergCement and Italcementi that will include a change in ownership for Essroc Cement Corp and the Martinsburg cement plant, West Virginia. The Federal Trade Commission (FTC) have raised concenrs about the likelihood that the sale of the Martinsburg cement plant to Argos USA LLC for US$660...
Cemex: Jamie Muguiro to take over Cemex Latam CEO duties
Cemex Latam Holdings SA Chairman, Jaime Muguiro, will take over CEO duties in coming days after the unit said it found about US$20m in irregular payments in the construction of its new Colombian cement plant, prompting its chief executive officer to resign. Cemex SAB de CV is down more than one per cent on the stock exchange. The company terminated two senior officials and its CEO resigne...
UK: Hanson make management changes
Hanson Cement (HeildelbergCement Group) in the UK has made a number of new senior appointments within its packed products team. Andy Simpson becomes national commercial director, Chris Hall joins Hanson as national account manager and Jack Vincent is promoted to field sales manager, a new position within the company. Mr Simpson, previously responsible for all sales of Hanson's packed product...
India: Rain Cements brings WHR power plant online
Rain Cements Ltd has started its waste heat power generation (WHPG) plant at its cement unit at Boincheruvupalli Village, Peapully Mandal, Kurnool district in Andhra Pradesh, India. The new facility will generate up to 7MW from the waste heat and flue gases from the cement works. The power plant represents an investment INR0.7bn, finance entirely from internal funds. It will enable Rain Cem...
Kazakhstan: Steppe Cement 1H16
Steppe Cement's 1H16 revenues fell 47 per cent YoY to US$24m, despite the company seeing a six per cent YoY increase in cement sales volumes. The decline in revenue was driven by the sharp depreciation in the tenge, while strong competition in the market resulted in further price falls. Steppe Cement's average ex-works price decreased nine per cent YoY to KZT8781/t in 1H16, while in US...
Spain: Cementos Cosmos Oural plant to open next year
Following the decision to reopen the Oural plant in Galicia, Spain, operated by Votorantim Cimentos-owned Cementos Cosmos, after a four-year stop and previously earmarked for closure, the works is scheduled to restart production next year. The reopening of the plant is expected to lead to 40 new jobs at the site in addition to 50 fixed subcontracts and 300 indirect jobs. Some 1800 job applic...
Kenya: CDC Group appoints two directors to ARM's board of directors
UK’s sovereign wealth fund CDC Group has appointed two directors to the board of Kenyan cement manufacturer ARM Cement Ltd in which it recently acquired a 40.6 per cent stake for KES14.1bn (US$139.4m). The fund appointed Pepe Meijer and Ketso Gordhan to the board of the Nairobi Securities Exchange-listed company. Investment banker John Ngumi was also simultaneously appointed as an independen...
Nigeria: Lafarge Africa refinances with five-year bonds
Lafarge Africa (LafargeHolcim Group) has raised NGN60bn (US$184m) by issuing three and five-year bonds through book building. The cement producer issued a three-year bond at 14.25 per cent to raise NGN26.38bn and sold a five-year bond at 14.75 per cent to raise NGN33.62bn, it said in a statement. Previously, in April, Lafarge Africa reported that it would refinance some dollar-denominated de...
Sinoma sells Midong Tianshan and Fukang Tianshan stakes
China National Materials Company (Sinoma) said its subsidiary Xinjiang Tianshan Cement recently carried out an equity transfer framework agreement. A 64.56 per cent stake in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, both held by Tianshan Cement, as well as the 19.39 per cent stake in Midong Tianshan held by Xinjiang Tunhe Cement are to...
Uganda: Hima Cement to build grinding plant in Tororo
Hima Cement is to construct a new 0.9Mt grinding plant in Tororo in eastern Uganda, according to the country’s Observer newspaper. The plant, which is to cost US$40m, will be built close to that of rival firm Tororo Cement’s own factory. Hima’s move follows the announcement that it has signed a deal with Guangzhou Dongsong Energy Group to supply the latter with cement to build a steel plant...
China Resources Cement appoints Ji Youhong as new CEO
Ji Youhong has been appointed as new CEO, executive director and executive committee member of China Resources Cement following the resignation from these positions of Pan Yonghong to pursue other work within China Resources Group. Ji Youhong joined the Group in October 2003 and has served in various managerial positions of China Resources Cement.
Vietnam: Xuan Thanh Cement Phase 2 enters main construction period
The 4.5Mta Phase 2 project of JSC Xuan Thanh Cement is entering its peak construction period, according to company reports. More than 60 per cent of the mechanical equipment, including a clinker kiln, raw and coal mills, ESPs, bag filters and cooler, has been delivered to the installation site. FLSmidth of Denmark was awarded the EUR100m equipment supply contract. Energy efficiency and sta...