Cement News tagged: Corporate
India: Shree Cement wins bid for 80,000t of coal
Shree Cement has announced that it has won a bid to be supplied with 80,000tpa of coal from state-owned firm South Eastern Coalfields Ltd (SECL), reports the Economic Times. The deal will see Shree pay INR970/t (US$14.45/t) for the grade 11 coal – in line with the prevailing prices charged by SECL. Earlier this month, UltraTech agreed a deal to pay over INR1500/t for coal to supply cemen...
Ghana: Pozzolana Cement to make redundancies?
Management at Pozzolana Ghana Ltd is considering redundancies or the temporary shutting down of the company following power outages. According to Collins Opoku Gyan, production manager, the company cannot afford to continue paying salaries at a time when no profits are being made. “We have workers that we have employed and paying them, if there is no light, we can’t work. We have to pay the...
United Kingdom: fire at Cemex’s South Ferriby plant
Cemex’s South Ferriby works in Lincolnshire was hit by fire on Sunday, according to reports in the local press. The fire, which began due to a fuel leak, spread to cables, pipework and a disused control room within the kiln room. In addition to damaging these areas, the remainder of the building suffered smoke damage. This is not the first disruption suffered by the 0.75Mta plant. In Dec...
CCPC seeks Supreme Court decision on Irish Cement
The Competition and Consumer Protection Commission (CCPC) will directly appeal to the Supreme Court a High Court decision r estraining it from using certain material seized during a dawn raid of CRH subsidiary Irish Cement. Mr Justice Max Barrett ruled in April that the CCPC was not entitled to access, review or use material in a crh.com email account of CRH executive Seamus Lynch that w...
Pakistan: Lucky Cement highlights its social impact
The largest Pakistani cement manufacturer, Lucky Cement, has highlighted the contribution its operations have made to their locality and the country’s economy reports the Daily Times. Lucky Cement has pointed out that in 2014-15 it paid the government more than PKR7bn (US$67m) in sales and income taxes and generated PKR14bn (US$134m) in foreign exchange. In addition, the company has unde...
Cemex amortises US$353m debt
Mexican cement maker Cemex has amortised a US$352.95m debt that was due to expire in 2022, as part of its refinancing strategy to lower costs, reports Reuters. Cemex, which has been selling assets to cut debt, announced an offer to buy back up to US$400m in debt in April but said it would not buy back more than US$150m of the 2022 debt. However, on Thursday Cemex said debtholders agreed...
Kazakhstan: Steppe Cement sees 6% rise in 1H16 sales
Steppe Cement Ltd sold 761,771t of cement for KZT8190m (US$23,970.4) during the first half of the year, a rose six per cent compared with 717,654t of cement for KZT8277m a year earlier. Average price for the current period for delivered cement was KZT10,751/t (ex VAT), compared with KZT11,533/t in the corresponding period of 2015 as companies defended their market shares, the company said. S...
UK: Hope Cement launches bagged product range
Hope Construction Materials have officially unveiled its new high-performance bagged cement products, which, for the first time, are all available in the company’s own packaging, as ICR reported in its March 2016 issue. Hope say customers can expect to benefit from advanced packaging technology and unparalleled delivery service, which aims to provide a consistent lead-time commitment of 1-3 d...
Spain: FCC refinances Portland Valderrivas debt
In the restructuring of the group, Spain’s FCC plans to refinance the syndicated debt of Cementos Portland Valderrivas (CPV), in which it owns a 77.9 per cent stake. Funds from FCC’s capital increase will be used to write of EUR325m of EUR823m of the total amount. CPV will then refinance the outstanding EUR500m over a period of five years. The refinancing will also enable the Spanish cement...
Oman: Raysut Cement 2Q16 profits fall 2%
Raysut Cement Company (RCC) reported a decline by two per cent in its second-quarter profits, according to a bourse statement. Profits reached OMR4.8m in 2Q16, compared to OMR4.9m (US$12.72m) in 2Q15. Moreover, net profits stood at OMR12.9m |(US$33.5m) in the first half of 2016, an increase of 17.8 per cent from OMR10.96m in the first half of 2015.
Oman Cement’s 1H16 profits up 25%
Oman Cement has announced its profits are up by a quarter YoY for the 1H2016. In the first six months of the year, the company made a profit of OMR6.8m (US$17.7m), Muscat Daily reports. Total revenue was up by 15 per cent, at OMR31.5m (US$81.7m). The performance marks a recovery for Oman Cement after a poor trading year in 2015, but profits are still below their levels in the first six mont...
Ghana: Dangote creates 5000 jobs
To improve the access and availability of cement across the country, Dangote Cement Ghana has acquired 1000 new trucks for the distribution of cement into all parts of Ghana. These new trucks have opened up opportunities for drivers, loaders and truck driver assistants. Media Relations Manager for the company, Etornam Komla, said that the cement producers has started the recruitment process an...
thyssenkrupp appoints new board members
Michael Höllermann and Johan P Cnossen will form part of thyssenkrupp Industrial Solutions’ management board from 1 August 2016. Michael Höllermann will be appointed Chief Human Resources Officer following his position as CEO of Regional Headquarters South America, which he has held since 2012. Johan P Cnossen, in addition to heading up the Transformation Office for the implementation of “...
China: Jinyuan Cement to raise CNY1.36bn in private share placement
Jinyuan Cement plans to raise up to CNY1.36bn (US$204m) in private placement of shares to fund a company acquisition, projects and repay bank loans. In June Jinyuan Cement bought a 51 per cent stake in a Jiangsu-based new materials technology firm from the Jinyuan Holding Group for CNY2.55m. Earlier this year Reuters said the company had scrapped a major asset restructuring plan. Ji...
UAE firm bids for Holcim Lanka Ltd
Dubai-based Onyx Group owned by Sri Lankan businessman, Nandana Lokuwithana, is said to have joined bidders in the process to buy Holcim Lanka Ltd, according to Business Standard. There are six leading bidders for the Sri Lankan cement producer from China, the UAE, Indonesia, Thailand and Sri Lanka. Binding bids have been received from several companies with final negotiations to be conclud...
Algeria: CILAS clinker line successfully commissioned
Algeria's CILAS saw the successful start-up of its new clinker production line with the ignition of the kiln on 10 July 2016, 11 days ahead of schedule, in the presence of Didier Michel, representing CILAS' parent company LafargeHolcim, and Wang Hui of contractor CBMI. Both companies expressed their thanks and appreciation for the work completed and the teamwork shown. Algeria Spa CILAS ...