Cement News tagged: Corporate
India: Anjani Portland Cement commissions power plant
According to reports in the Hindu, Anjani Portland Cement has commissioned a 16MW captive coal-fired power plant at its cement unit in Telangana.
India: JSW Cement takes 37% stake in Shiva Cement
JSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of pu...
India: JSW Cement acquiring controlling stake in Shiva Cement
JSW Cement Ltd is to buy the entire promoter holding in cement maker Shiva Cement Ltd and launch an open offer to acquire another 32 per cent from the company's public equity shareholders. Odisha-based Shiva Cement confirmed that it has agreed to sell its 35.6 per cent promoter holding to JSW Cement at INR14/share (US$0.20/share). In a separate BSE filing, JM Financial Institutional Secu...
LafargeHolcim supplied 30 concrete types to Elbphilharmonie
LafargeHolcim will see the completion of new Elbphilharmonie concert facilities in Hamburg, Germany, today. The cement producer delivered some 30 different types of concrete to meet the architects’ aesthetic and technical expectations in building a concert hall with outstanding acoustics and innovative design. A total of 63,000m3 of concrete were delivered by a consortium led by the company’s ...
India: Burnpur Cement blames demonetisation for repayment failures
Burnpur Cement has declared its inability to repay bank loans on Saturday due to demonetisation as its repayments had turned “irregular” with lenders because of “depressed” market conditions. Located in eastern India, Burnpur Cement is looking to raise its production capacity from 0.6Mta to 3Mta, split between two units, at a cost of INR5000m (US$73.3m). The company made a regulatory filing ...
USA: Bessemer Cement partly under Argos ownership
Argos USA purchased 13.92 acres of the 114 acre Bessemer Cement plant site from Essroc Cement Corp for US$1,226,026 in November 2016, according to a deed of transfer from the local recorders Office, reports New Castle News. Jeff Sieg of Lehigh Hanson Inc explained to New Castle News that the sale was part of a Federal Trade Commission required divesture of certain assets related to Heidel...
Semen Indonesia net profit down by 3% in 2016
PT Semen Indonesia Tbk made a net profit of IDR4.01trn (US$301.6m) in 2016, which was lower than the IDR4.52trn the previous year. "National cement growth in the year was down three per cent due to the presence of new industries and the projection of a negative 1.1 per cent growth in December," said Rizkan Chandra, president and director of the company. Mr Chandra went on to say how the ...
Cemex amends Trinidad Cement bid
Cemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra...
Semen Indonesia expects 5% sales growth in 2017
State-owned cement company PT Semen Indonesia (Persero) Tbk is targeting 4-5 per cent sales growth in 2017. Semen Indonesia Corporate Secretary Agung Wiharto said that new plants in Rembang in Central Java and Indarung VI in Padang, West Sumatra, will help it achieve higher sales. “If they go according to plan, we expect Semen Indonesia’s new plants in Rembang and Indarung can contribute [...
Semen Indonesia IDR6trn expansion
Semen Indonesia has designated IDR6trn (US$449.1m) for capital expenditure in 2017 to finance its expansion programme. The programme includes the development of four plants set to add 10.5Mta to the company’s current installed capacity of 32.3Mta. Two plants are already under construction. Approximately IDR1trn of the year’s spending will be channelled into the construction of the Rembang p...
India: Sagar Cements sees sales dip in December
In a trading statement released this week, Sagar Cement has reported a slight decline in cement sales for December compared with a year earlier. Consolidated results – which include the firm’s BMM subsidiary – show cement sales dropping by 0.4 per cent to 154,196t. Sales at Sagar’s core business dropped more appreciably, being down 4.6 per cent at 100,054t. For the nine months from April...
India: Dalmia Cement wins limestone concession auction
Dalmia Cement has won the right to mine limestone in Odisha, eastern India, the Times of India reports. Dalmia saw off competition from Adani Cement and Hira Cement for the limestone reserves, estimated at 98.7Mt. The winning bid will see Dalmia pay 12.05 per cent of the revenue generated from the mining operations to the state government.
Vietnam: Vicem sells 25.8Mt of cement and clinker in 2016
State-owned Vietnam Cement Industry Corp (Vicem) sold around 25.8Mt of cement and clinker in 2016, representing a YoY rise of 11.2 per cent and surpassing the year’s target by 11 per cent. Some 22.73Mt of cement and clinker were sold in the domestic market, a 8.8 per cent rise when compared with 2015. Vicem increased its exports by 45.8 per cent to 3.07Mt. Output by the country’s leadin...
UAE: Arkan cutting energy usage in response to price rises
Emirati building materials firm Arkan, which operates the Al Ain and Emirates cement factories, has announced a series of energy saving measures in response to rising prices for electricity, water and natural gas, Trade Arabia reports. The initiatives include the installation of a waste heat recovery unit on the clinker cooler at the Al Ain cement factory. Arkan is also conducting a feasibi...
Trinidad Cement directors recommend rejection of Cemex bid
The board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in...
Nigeria: BUA Group to offer incentives to cement distributors
BUA Group, the conglomerate which owns the Cement Company of Northern Nigeria, is to offer incentives of NGN100m (US$0.3m) to cement distributors who exceed their sales targets, the Nation reports. “We have embarked on an expansion drive and this will be completed in 2018. Cement business is a very challenging one, because it is a capital intensive business; but I want to assure you that ou...