Corporate

12 December 2014

ARM secures loan to finance expansion

ARM Cement has secured a KES4.5bn (US$50m) loan from CFC Stanbic Bank to finance its expansion plans. “The credit adds to our existing facilities and will be used in current and new projects,” said ARM’s chief executive Pradeep Paunrana told Business Daily in an interview on Tuesday...

10 December 2014

Argos to not bid for Lafarge/Holcim Brazilian assets

Cementos Argos has decided not to not bid for the Brazilian assets that Lafarge and Holcim have put up for sale ahead of their planned merger. Colombia’s largest cement producer has informed the Superintendencia ...

11 December 2014

St-Gobain to acquire controlling stake in Sika

St-Gobain is buying a controlling stake in constructive chemicals specialist Sika for EUR2.3bn. The group is also launching a competitive bidding process to dispose of the remaining portion of the its packing busines...

08 December 2014

Changes in Holcim Ltd's senior management

Jacques Bourgon, currently head of OH&S, senior advisor to the CEO and member of Holcim Ltd's senior management, has decided to pursue other challenges outside the group. He will be leaving Holcim on 31 December 2014...

08 December 2014

Italy’s Competition & Market Authority awards three-star legality rating to Italcementi

Italy’s competition and market authority, AGCM (Autorità Garante della Concorrenza e del Mercato), has awarded Italcementi a top three-star legality rating. The Legality Rating is an evaluation of a company’s legal ...

08 December 2014

Kenya: Bill Lay reappointed chairman of EAPCC

President Uhuru Kenyatta has reappointed Bill Lay as chairman of East African Portland Cement Company (EAPCC) for a three-year term. The Head of State, through the latest gazette notice, extended the term of Mr Lay ...

05 December 2014

AfDB mobilises US$60m loan for DRC cement project

The Nyumba Ya Akiba Cement project in the DR of Congo marked a significant milestone last week with the loan signing of US$135m. The 1.18Mta greenfield plant is a 50/50 joint venture between leading Pakistan cement...

04 December 2014

Sri Lanka: Cabral new chairman of Tokyo Cement

Dr Harsha Cabral, a senior counsel with 27 years' experience in the fields of company Law, Intellectual Property Law, Commercial Arbitration and Commercial Law & International Trade Law, has been appointed as chairma...

05 December 2014

Italcementi obtains EBRD loan for plant revamp

The Italcementi Group has signed an agreement with the European Bank for Reconstruction and Development (EBRD) granting it a loan for approximately EUR20m to fund the modernisation of the Shymkent cement plant in sou...

05 December 2014

South Africa: PPC to reshuffle board

PPC and its investors have agreed to reshuffle the company's board, calling off a special shareholder meeting scheduled for next Monday. “Shareholders are hereby notified that following discussions initiated by [E...

03 December 2014

US$125m CAF loan signed for Guayaquil project

Holcim Ecuador SA has signed a loan contract for US$125m with the Latin American development bank, CAF. The funds will finance the modernisation of Holcim’s Guayaquil plant. The upgrade programme will see clinker ...

12 December 2014

UNACEM completes Ecuador acquisition

Peruvian cement producer Union Andina de Cementos SAA (UNACEM) confirmed that it has completed the purchase of Lafarge’s cement operations in Ecuador. "We are pleased with the closing of the transaction, which repre...

04 December 2014

Buzzi Unicem finalises Uralcement acquisition

Buzzi Unicem, through its wholly-owned subsidiary Dyckerhoff GmbH, has completed the acquisition of a 100 per cent interest in Uralcement, Russia, from Lafarge. Uralcement is located near the town of Korkino, about ...

02 December 2014

Eagle Materials announces appointment of COO

Eagle Materials Inc has appointed Michael Haack as Chief Operating Officer (COO), reporting to Steve Rowley, president and CEO. “The COO position is a newly-created one in response to the company's significant grow...

02 December 2014

China: joint venture formed to restructure Zhongxia Cement

Gezhouba Group Cement Co Ltd and Hubei Zhongxia Cement Company Ltd have signed an agreement to form a joint venture to restructure the assets and businesses of Zhongxia Cement. Gezhouba Group Cement is a China-base...

05 December 2014

Venezuela: Holcim receives final installment

Holcim today announced that the group has received the last compensation installment in connection with the nationalisation of Holcim Venezuela in 2008. Corporación Socialista Del Cemento SA, which is now operatin...