Cement News: Corporate

23 March 2017

HeidelbergCement to suspend new investment in Turkey

HeidelbergCement is to suspend all new investment in Turkey due to the political uncertainty in the country, said Dr Bernd Scheifele, CEO of HeidelbergCement. He expressed concern about the current situation in Turkey, which he considers unfavourable to its economic development. A...

17 March 2017

AfriSam reported to replace CEO ahead of PPC merger

To help enable the merger with rival PPC, AfriSam is set to replace its CEO, Stephan Olivier after nearly seven years of leading the firm, according to local press reports in South Africa. He would be replaced on ...

17 March 2017

Kuwait Cement FY16 profit up to KWD19.5m

Kuwait Cement reported a modest increase of its full-year profit from KWD19.3m (US$63.2m) in FY15 to KWD19.5m in FY16. The company’s total operating revenue advanced from KWD92.2m in FY15 to KWD98.6m in FY16.

17 March 2017

Macedonia: Cementarnica Usje non-cons net profit falls 5% in 2016

Macedonia’s Cementarnica Usje, a subsidiary of Greece-based cement producer Titan, saw a five per cent YoY decrease in its non-consolidated net profit to MKD1.2bn (US$20.7m) in 2016 as a result of higher production c...

India: Government to sell non-operational CCI units 17 March 2017

India: Government to sell non-operational CCI units

The government of India has announced that it plans to sell off five non-operational units of the Cement Corporation of India (CCI) as the first step towards complete divestment of the company, the Times of India rep...

17 March 2017

Holcim Philippines, Robinson Land sign cement supply contract

Holcim Philippines will support the expansion of the Philippines’ leading real estate developer, Robinsons Land Corp (RLC) as it provides cement to 44 projects to be built by RLC by 2019. The cement producer will ...

Saudi Arabia: Northern Region Cement Co appoints new board top 17 March 2017

Saudi Arabia: Northern Region Cement Co appoints new board top

Saudi Arabia’s Northern Region Cement Co has appointed Sulaiman bin Salim Al-Harbi as the Board's chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bou...

17 March 2017

HeidelbergCement sees 13% revenue rise in 2016

HeidelbergCement saw revenues rise by 13 per cent to EUR15.2bn in 2016 and completed a successful acquisition of Italcementi with synergies increased to EUR470m. "2016 was an exceptional year for HeidelbergCement,...

16 March 2017

Kenya: Bamburi appoints three women to all-male board

Bamburi Cement has appointed three women as directors to its previously all-male board. Appointees include former Kenya Revenue Authority (KRA) Commissioner for Domestic Taxes, Alice Owuor, Rita Kavashe, chief exe...

16 March 2017

Cemex retains 9.5% of GCC

Cemex SAB de CV said that some of its underwriters did not exercise their over-allotment option to acquire shares in Mexico’s Grupo Cementos de Chihuahua SAB de CV. As a result, Cemex retains a direct stake of 9.47 p...

16 March 2017

UK: Hanson to develop Victoria Deep Water Terminal

Hanson (HeidelbergCement group) is planning to invest GBP12m at its Victoria Deep Water Terminal (VDWT) on the Thames at Greenwich, UK, to upgrade and improve the site. A planning application has been submitted to th...

14 March 2017

South Africa: rain dampens PPC Jan-Feb sales

PPC announced that adverse weather had negatively affected its cement and concrete sales in South Africa during January and February 2017. Rainfall in excess of 200mm was experienced in many parts of the country duri...

14 March 2017

Pakistan: Lucky Cement inaugurates WHR plant

Lucky Cement has inaugurated its 10MW fifth Waste Heat Recovery (WHR) power plant in Pezu, Khyber Pakhtunkhwa, Pakistan, on 15 February 2017. The fifth power plant, in collaboration with China-based Sinoma Ener...

14 March 2017

Pakistan: Flying Cement to double capacity

Flying Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that it has signed an agreement with a Chinese company for the procurement of plant and machinery to be installed at the cement produce...

15 March 2017

HeidelbergCement Ukraine reduces loss by 56% in 2017

HeidelbergCement Ukraine reduced its loss by 55.6 per cent to -UAH289.17m (US$ 10.76m) from -UAH361.73m in 2016, according to a company statement. This follows a 62.7 per cent increase in losses in 2015 to -UAH...

14 March 2017

Zimbabwe: SZCC request title deeds from Gov

Sino Zimbabwe Cement Company (SZCC) has requested the title deeds for Indiva Farm, where the company is located, be transferred to them by the Government. Located 33km east of Gweru, Indiva Farm is regarded as State ...