Cement News tagged: Corporate
Power Cement completes Nooriabad expansion finance
One of the Pakistan’s leading cement producers, Power Cement Ltd has completed financing arrangements of PKR24.9bn (US$205m) for the 2.5Mta expansion of its cement plant Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh. On completion of this expansion, Power Cement will be the second-largest producer in the Southern Region by May 2019, with the total capacity of 3.4Mta, saidTa...
CRH announces completion of Ash Grove acquisition
CHR has now completed the acquisition of Ash Grove Cement Co. The Irish building materials producer announced on 21 September 2017 it reached an agreement to acquire the Kansas-based cement company for US$3.5bn. The US Federal Trade Commission issued its consent order for the deal on 15 June 2018.
CNBM adds 18.7% stake in Southwest Cement
China National Building Material (CNBM) said it agreed to purchase a 18.7 per cent equity interest in Southwest Cement Co from Zhonghai Trust Co Ltd for CNY1918m (US$295.1m). The acquisition would increase CNBM’s stake from 70 per cent to 88.7 per cent. It would strengthen CNBM’s bottom line, quality asset management and improve return on investment as the southwestern China market continues...
Bosnia’s Banovici plans 1.1Mta cement plant
Bosnian state-controlled brown coal mine Banovici and the Federation’s privatisation agency will shortly seek a strategic partner for the construction of a cement plant at the coal mine. The project represents an investment of EUR250m (US$290m). Banovici has already obtained the required documents and secured an environmental permit with works expected to start in 2019, according to local n...
State Council confirms penalties issued by SIC to Cemex Colombia
Colombia’s State Council has confirmed the COP923m (US$315,784) and COP138m penalties issued by the Superintendence of Industry and Commerce (SIC) to Cemex Colombia SA, according to El Universal. "The ruling reveals the emergence of indications about the existence of market share agreements and the allocation of production quotas between the companies Cemex Colombia SA, Holcim Colombia SA an...
Udayapur Cement suffers irregular supply of power
Nepal’s Udayapur Cement Industries Ltd (UCIL) is facing financial losses due to the irregular supply of electricity to its facility. Power supply was halted 27 times in the internal supply line and 93 times in the external line during the mid-May-mid-June period, according to Republica. "An hour of power cut in the factory causes losses of over NPR400,000," said Surendra Paudel, general mana...
Molins to start old Sant Vicenç del Horts demolition
Cemento Molins will start the demolition of its old plant in Sant Vicenç del Horts, a project which is expected to take around 18 months. The plant, which was built between 1965-1974, was replaced by a new works on an adjacent plot of land in 2010. Once the demolition is complete, it is possible that the owners will expand the current operational factory using the 19,000m 2 area. The...
Martin Engineering opens new UK facility
Bulk handling specialist Martin Engineering has opened a new facility in Mansfield, Nottinghamshire, UK, to offer an improved service to UK and Scandinavian customers. The team at Mansfield will be lead by Aaron Bartram, who has 30 years of experience running major production operations in the heavy building products sector. “The UK and Scandinavia are centres of excellence when it comes to...
Thai King increases stake in Siam Cement
Thailand’s King Maha Vajiralongkorn Bodindradebayavarangkun has increased his stake in Siam Cement Group from 0.8 per cent to 30.8 per cent, and has become the top shareholder. King Vajiralongkorn took over all of the shares previously controlled by the Crown Property Bureau (CPB), an entity that manages royal assets, according to Nikkei. The transfer will not result in any change to the ope...
US Cement receives key permit for white cement plant
US Cement LLC has received a draft air permit from the Texas Commission on Environmental Quality for a white cement plant near the town of Brady. Groundbreaking for the 0.5Mta facility, which sits on a limestone deposit of 80Mt, is scheduled for the first half of 2019. Part of Royal White Cement, US Cement expects to invest more than US$200m in the plant, incorporating the latest productio...
Cemex UK moves to Rugby
Cemex UK is moving its headquarters from Thorpe, Surrey, to its offices in Rugby, Warwickshire, to create a new HQ from 1 July 2018, said the company in a statement. The company has had close links with Rugby for nearly 150 years and operates one of the most modern plants in the town. To date the location has provided a regional centre for the company. From 1 July the senior leadership team...
Mordovcement carries out modernisation plan
Mordovcement plant, part of Eurocement, is implementing its modernisation plan to increase the reliability of existing equipment and further automate the productioni process, according to Esmerk Russian News. The cement producer is investing in a new cement milling shop, which will enable the semi-dry plant to produce cement and improve the company’s total performance.
Belarusian government ready to sell Krasnoselskstroymaterialy
The Belarusian government is ready to sell Krasnoselskstroymaterialy to CRH for approximately US$200m, according to Deputy Prime Minister, Anatol Kalinin. "The investor does not want to buy the entire stake although we are offering it to purchase 100 per cent of its shares," he said, adding that the sides continued their talks and were bringing their positions closer together. The governmen...
PPC expects profit increase in FY18
South Africa’s PPC expects its net profit attributable to shareholders to increase between 55-65 per cent for the financial year ended 31 March, compared with ZAR93m (US$6.9m) of the previous year. However, the group’s EBITDA from operations is expected to decline by 5-12 per cent YoY. "Group EBITDA has been negatively impacted by costs related to corporate action, restructuring and separat...
Morocco’s APC elects new board
The Association Professionnelle des Cimentier (APC) of Morocco has appointed Taraga Marouane, chairman of the Board of LafargeHolcim Morocco, as its new chairman. He succeeds Mohamed Chaïbi, who has been co-opted as a director and appointed special advisor to the newly-elected president of the PCA. The general assembly, which was held on 7 June, also appointed Malik Sefrioui as vice-preside...
CRH receives approval to acquire Ash Grove Cement
CRH Plc has received regulatory approval to acquire Ash Grove Cement Co. The US Federal Trade Commission has issued its consent order, with the US$3.5bn transaction expected to close in June 2018. CRH has agreed to divest assets to secure antitrust approval for the deal. As a result, the company will sell a cement plant and quarry in Montana, sand and gravel pits in Nebraska and four facili...