Cement News tagged: Corporate
Peru: Cementos Pacasmayo to split operations
Cementos Pacasmayo SAA and subsidiaries announced that its Board of Directors have approved the separation of its phosphate operations Fosfatos del Pacifico (FOSPAC) from its cement operations. Ownership of FOSPAC will be transferred to separate entity FOSSAL, which will hold 70 per cent ownership whilst 30 per cent remains with MCA Phosphates PTE, a division of Mitsubishi Corp. Chairman of...
Birla completes acquisition of Reliance Cement
Birla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya ...
Cementos Avellaneda to invest in Canuelas logistics centre
Argentina’s Cementos Avellaneda will invest in a logistics centre in Canuelas. The company, which is a joint venture between Votorantim Cimentos and Cementos Molins, acquired a 9000m 2 plot in an industrial complex alongside Route 6. Initial plans are to build a 1500m 2 warehouse, an office and a truck parking area. During a second stage, the company has the option to build a concrete pla...
Peru: Votorantim to buy assets of Cementos Orotongo
Votorantim Cimentos has made an agreement with Concesur (Consorcio Cementero del Sur) to purchase the cement assets of Cementos Orotongo acquired by Votorantim in 2012 from Cimpor. The deal is worth US$4m and includes a project to set up a US$125m cement plant at La Joya with a capacity for 650,000tpa of cement and 1500tpd of clinker. This plant project was originally planned in 2011. Voto...
Sri Lanka: Tokyo Cement increases profits by 38%
Tokyo Cement Plc saw its April-June quarter net profit increase 38 per cent YoY to LKR643.8m (US$4.42m) amid strong top-line gains and better cost management. Group turnover for the quarter rose nine per cent YoY to LKR7.5bn, while cost of sales rose at six per cent, allowing the group to post a gross profit of LKR1.8bn, up 20 per cent YoY. The group was able to keep its operational co...
Pakistan: Gharibwal Cement to increase its capacity
Gharibwal Cement (GWLC) has announced plans to expand its clinker capacity by 8000tpd, translating into 2.4Mta. Along with the brown field expansion, the company will also install a waste heat recovery system and a new cement mill for this purpose. Work on this project will start during the current fiscal year. GWLC has also announced a contract to install vertical grinding mill with a cap...
Uganda: residents decry lack of consultation over mining licence award
Residents of Moroto district have accused Uganda’s Ministry of Energy and Mineral Development of acting illegally in awarding a mining licence to Tororo Cement without first consulting local communities, the Daily Monitor reports. Local people have protested against Tororo’s limestone mining operations in Kosiroi by blocking trucks from entering or leaving the site. They accuse the company ...
Fujairah Cement approves Sohar Cement venture
The Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital.
Kenya: dispute over stalled cement plant
Local politicians in Kenya’s West Pokot county have clashed over delays which have seen the construction of a proposed cement plant make little progress for years, the Daily Nation reports. Despite being announced a decade ago, building has yet to begin and local politicians appear split over whether to invite in new investors. The originators of the project, India’s Sanghi Group, retain th...
India Cements: 1Q16 EBITDA edges up to INR2.05bn
India Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing h...
China: Taiwan Cement expects 2H16 pick up in demand
Cement sales in China will pick up in the second half of the year, on the back of a recovering demand from infrastructure projects and residential building in the country, according to Taiwan Cement Corp. “We saw strong infrastructure spending in China supported cement demand in the first half, which is expected to continue growing for the rest of the year,” Taiwan Cement Senior Vice Presid...
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal
HeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the ...
Dalmia quarterly results
Dalmia Bharat announced its unaudited consolidated financial results for the quarter ended 30 June 2016. Dalmia performed well in the period, achieved through a focus on branding, customer centricity and cost optimisation. The company reported that it achieved an EBITDA margin of 29 per cent and its sales volume increased 22 per cent YoY. It also worked towards expanding its sustainable foo...
Sagar Cement to invest US$22m in new capacity
India-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down l...
US: HeidelbergCement moves closer to acquiring Essroc
HeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. Heid...
Cementos Argos 2Q16 US results remain strong
For the second quarter Cementos Argos' cement volumes decreased by 1.9 per cent, totalling 3.5Mt, as a result of a challenging market environment in Colombia. These results were compensated by the US regional division, where Cementos Argos grew 16.3 per cent. In the ready-mix segment the company sold 3Mm 3 , up 1.1 per cent from the previous year. Cementos Argos registered double-digit grow...