Corporate

23 September 2014

Senior appointments at Star Ferro and Cement Ltd

Star Ferro and Cement Ltd has appointed Sanjay Kumar Gupta as chief executive officer, effective 20 September 2014. Dilip Kumar Agarwal has been appointed chief financial officer, also effective 20 September 2014.

22 September 2014

Mexico: Lafarge sells its minority stake in Elementia

Lafarge announces the sale of its 47 per cent minority stake in its cement operations in Mexico to Elementia for a cash consideration of US$225m (EUR175m). The joint venture between Lafarge and Elementia operates t...

25 September 2014

Saudi Arabia: weak demand keeps Hofuf kilns closed

Saudi Cement Co said it would not restart the two refurbished kilns at its Hofuf plants as the company currently has a high inventory level and market demand remains weak. “The feasibility of operating these two k...

19 September 2014

Chettinad Cement Corp moves on expansion

India’s Chettinad Cement Corp has received all the required permits for its greenfield project in Andhra Pradesh and expansion in Karnataka. In Andhra Pradesh, the company is building a 3.5Mta integrated cement wo...

19 September 2014

CRH to compete for Lafarge and Holcim assets

Irish building materials manufacturer CRH plc is considering making an offer to purchase the assets that might stand in the way of the merger of Lafarge and Holcim, industry sources told Reuters. It was not reported ...

19 September 2014

Fiji: Holcim JV sells stake in Pacific Cement Ltd

South Pacific Cement, a joint venture between Holcim New Zealand and Fletcher Building Ltd, has sold its 47 per cent stake in Pacific Cement Ltd (PCL) to the Vinod Patel Group. PCL is a joint venture with Fijian H...

19 September 2014

Seychelles: Lafarge to open 4000t cement silo

Lafarge is developing a 4000t cement silo in the Seychelles in partnership with Sri Lankan engineering company Dynamic Technologies. The structure will be built in Sri Lanka and shipped to the Indian Ocean island. ...

18 September 2014

Bruno Roux appointed President and CEO for Lafarge Eastern Canada

Bruno Roux has been appointed President and Chief Executive Officer for the Eastern Canada business unit of Lafarge Canada Inc. In his new role, Mr Roux will serve as Lafarge's senior leader for all market areas an...

18 September 2014

Vietnam approves Vicem privatisation schedule

Vietnam’s Ministry of Construction has approved the privatisation schedule of Vietnam Cement Industry Corporation (Vicem), the country's largest cement producer, under which Vicem will have to sell shares of its pare...

18 September 2014

FCC to transfer rescue funds to Portland Valderrivas

Spanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sourc...

17 September 2014

Lafarge Africa completes consolidation process

Lafarge Africa Plc, formerly Lafarge Cement Wapco Nigeria Plc, has announced the completion of its acquisition of the Lafarge group’s shareholdings in Lafarge South Africa Holdings and United Cement Co of Nigeria. G...

18 September 2014

Lucky alters ownership structure of coal-based power project

Lucky Cement has announced a change in the planned structure of its 660MW coal-based power plant, according to a company notice issued to the Karachi Stock Exchange, The board of directors of Lucky Cement has deci...

18 September 2014

Lafarge to sell Russian plant to Buzzi Unicem

Buzzi Unicem, through its fully-owned subsidiary Dyckerhoff GmbH, has reached an agreement to acquire a 100 per cent interest in Lafarge's UralCement plant in Russia for an enterprise value of EUR104m. The 1.1Mta ...

18 September 2014

Hanson Building Products files for IPO

HeidelbergCement announced that its subsidiary, Hanson Building Products Ltd, has filed a registration statement with the US Securities and Exchange Commission for a potential initial public offering (IPO) of its ord...

16 September 2014

Steppe swings to first-half loss

Kazakhstan cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$4.1m for the six months ended 30 June 2014 against a profit of US$2.2m in the comparative period of last year. Sales increased...

15 September 2014

PPC says slower domestic economic growth hurting volumes

South Africa's largest cement producer, PPC, has said slower domestic economic growth and declining infrastructure spending has resulted in a "particularly tough" domestic market. “Low single-digit” volume declines...