Cement News tagged: Corporate
China Resources Cement plans share sale
China Resources Cement Holdings Ltd has announced that it plans to sell HKD4.19bn (US$533.98m) of new shares to its controlling shareholder, CRH Ltd, to raise capital for business development, repay debt and for working capital. CRH will the buy the new shares following its sale of the same amount of existing shares at the same price to third-party investors. The shareholding of CRH and its ...
Suhar Cement to add new grinding capacity
Suhar Cement is expected to start its new cement grinding operation later this year. The new facility, featuring a cement mill with a capacity of around 240tph. The project is being developed as partnership with Sohar Cement (holding 70 per cent of the equity) and UAE-based Fujairah Cement Co (owning the balance 30 per cent of the equity) at Suhar Industrial Estate in northeastern Oman. Th...
Colacem completes Maddaloni Cement acquisition
Colacem SpA acquired on 1 June 2018 the entire share capital of Maddaloni Cement Srl, owner of a 0.3Mta cement manufacturing plant based in Maddaloni (CE), from Cementir Italia SpA (HeidelbergCement group). The transaction, which has been successfully finalised by the directors of the Colacem Board, will increase the domestic market share held by Colacem. "This step demonstrates our trus...
Cemex raises cement price 5% in Mexico
Cemex has increased the price of cement in Mexico by five per cent last week, making it the second price rise by the company this year. The increase applies to national sales of bagged cement. The increase applies from 4 June and the company has said the price is part of its programme to supply “value over volume” and to set “realistic cement prices. In January the company carried out a ...
Shree Cement announces investment plans
India’s Shree Cement Ltd has announced a INR35bn (US$519.79m) capital expenditure budget for the current financial year. The amount includes INR20bn which will be spent to conclude the acquisition of UAE-based United Cement Co PSC by July, a few months ahead of plans, according to Subhash Jajoo, CFO, Shree Cement. Furthermore, the company plans to invest INR13-14bn to set up grinding units in...
LafargeHolcim Group invests US$500m in Bangladesh
LafargeHolcim Group has invested US$500m in Bangladesh over the years and plans for even more, besides continuously working in research and development to find best and sustainable solutions in the construction sector and promotion of cement industry in the country. This information was shared on the occasion of LafargeHolcim Bangladesh's 20th annual general meeting (AGM), which was held ...
Panyam Cement & Mineral Industries reports decline in net sales
Panyam Cements & Mineral Industries, India, has reported financial results for the period ended 31 March 2018 with net sales of INR26.49m (US$0.391m) during the 12-month period ended 31 March 2018 as compared to INR65.03m (US$0.96m) during the corresponding period ended 31 March 2017. The company has posted net loss of INR23.41m for the period under review as against INR4.09m for the period ...
Cemex launches online store
Cemex has launched the Construrama online store for construction materials to enable fast and simple order placement, according to a press release. “Cemex’s launch of the Construrama Online Store builds on our efforts to transform the construction industry into a more efficient model: Our clients will now enjoy easy access to a wider catalog of products and be able to select, purchase and fo...
Hongshi Holding Group expected to contract FLSmidth for equipment supply
China-based Hongshi Holding Group Co Ltd is expected to award a contract to FLSmidth for the supply of mills, crushers and feeders for its 8000tpd plant in East Java, Indonesia. The US$40m contract is expected to be signed at the end of the month, according to Lu Jianlong, manager at the company’s equipment supply sector. The dry-process facility represents a total investment of US$314.7m, w...
Cementos Bío Bío to start production at Arica grinding plant
Chile’s Cementos Bío Bío is expected to start production at its Arica grinding facility by September of this year, according to Economía y Negocios. Guido Sepúlveda, manager of the company’s cement sector, confirmed that the plant will supply the markets of Tarapacá and southern Peru. "It is very important for us to get to Arica, an area we were attending from Antofagasta, and we are cu...
Cemex allocates PHP3bn towards start of Solid Cement's expansion
Cemex Holdings Philippines Inc has allocated PHP3bn (US$57.1m) this year towards building its new production line at its Antipolo cement factory in Rizal. Cemex Holdings Philippines is investing a total of US$225m for the Solid Cement expansion project. The new line will expand Solid Cement’s capacity from 1.9Mta to 3.4Mta. "Specific to the Solid Cement plant expansion – PHP2.5bn to PHP3b...
Siam City Cement becomes regional market leader
Siam City Cement (SCC) has strengthened its regional position in 2017 to become a market leader in southeast Asia. Key strategic investments in 2017 included the acquisition of plants from Cemex (Bangladesh), Holcim (Sri Lanka) and Cemex (Thailand) during 2016. More recently, It has constructed the greenfield Kampot cement plant with a 1.5Mta capacity in Cambodia in 4Q17. Moreover, accord...
Orient Cement announces expansion plans
India’s Orient Cement has announced plans to invest INR36bn (US$536.8m) over the next five years to expand its existing production capacity to 15Mta from 8Mta, with investments for the expansion to begin in FY20, according to Mint. The company has applied for environmental clearance to expand clinker and grinding capacity in Devapur, Telangana, and Chittapur, Karnataka, alongside plans to con...
Siam City to expand production in Sri Lanka and Bangladesh
Siam City Cement (Lanka) Ltd, which is building a new vertical cement grinding plant in Galle, on the southwest coast of Sri Lanka, to raise its capacity by 0.4Mta, is on track for start-up in August. The new grinding unit is being built at an estimated cost of US$50m and of this total, Siam City (Lanka) spent US$5m to address the plant's environmental impact, according to INSEE Cement ...
Cimentos de Maiaia launches and aims to lower cement prices
Cimentos de Maiaia has begun commerical operations in Mozambique. President Filipe Nyusi inaugurated Mozambique's third cement factory at the end of May. The Cimentos de Maiaia plant has a cement capacity of 0.25Mta and is located in the northern port of Nacala city. The production unit is 85 per cent Chinese owned and cost US$10.28m to build. Cimentos de Maiaia employs 48 local residents a...
Ssangyong Cement to increase energy-efficiency of Donghae plant
South Korea’s Ssangyong Cement Industry Co has announced plans to increase the energy-efficiency of its Donghae plant. The project includes the installation of a waste heat power generator with an energy storage system, which is expected to be operational by August. The company expects the waste heat power generator to help the facility save approximately 33 per cent of electricity, amounti...