Cement News tagged: Corporate
Cemex: Jamie Muguiro to take over Cemex Latam CEO duties
Cemex Latam Holdings SA Chairman, Jaime Muguiro, will take over CEO duties in coming days after the unit said it found about US$20m in irregular payments in the construction of its new Colombian cement plant, prompting its chief executive officer to resign. Cemex SAB de CV is down more than one per cent on the stock exchange. The company terminated two senior officials and its CEO resigne...
UK: Hanson make management changes
Hanson Cement (HeildelbergCement Group) in the UK has made a number of new senior appointments within its packed products team. Andy Simpson becomes national commercial director, Chris Hall joins Hanson as national account manager and Jack Vincent is promoted to field sales manager, a new position within the company. Mr Simpson, previously responsible for all sales of Hanson's packed product...
India: Rain Cements brings WHR power plant online
Rain Cements Ltd has started its waste heat power generation (WHPG) plant at its cement unit at Boincheruvupalli Village, Peapully Mandal, Kurnool district in Andhra Pradesh, India. The new facility will generate up to 7MW from the waste heat and flue gases from the cement works. The power plant represents an investment INR0.7bn, finance entirely from internal funds. It will enable Rain Cem...
Kazakhstan: Steppe Cement 1H16
Steppe Cement's 1H16 revenues fell 47 per cent YoY to US$24m, despite the company seeing a six per cent YoY increase in cement sales volumes. The decline in revenue was driven by the sharp depreciation in the tenge, while strong competition in the market resulted in further price falls. Steppe Cement's average ex-works price decreased nine per cent YoY to KZT8781/t in 1H16, while in US...
Spain: Cementos Cosmos Oural plant to open next year
Following the decision to reopen the Oural plant in Galicia, Spain, operated by Votorantim Cimentos-owned Cementos Cosmos, after a four-year stop and previously earmarked for closure, the works is scheduled to restart production next year. The reopening of the plant is expected to lead to 40 new jobs at the site in addition to 50 fixed subcontracts and 300 indirect jobs. Some 1800 job applic...
Kenya: CDC Group appoints two directors to ARM's board of directors
UK’s sovereign wealth fund CDC Group has appointed two directors to the board of Kenyan cement manufacturer ARM Cement Ltd in which it recently acquired a 40.6 per cent stake for KES14.1bn (US$139.4m). The fund appointed Pepe Meijer and Ketso Gordhan to the board of the Nairobi Securities Exchange-listed company. Investment banker John Ngumi was also simultaneously appointed as an independen...
Nigeria: Lafarge Africa refinances with five-year bonds
Lafarge Africa (LafargeHolcim Group) has raised NGN60bn (US$184m) by issuing three and five-year bonds through book building. The cement producer issued a three-year bond at 14.25 per cent to raise NGN26.38bn and sold a five-year bond at 14.75 per cent to raise NGN33.62bn, it said in a statement. Previously, in April, Lafarge Africa reported that it would refinance some dollar-denominated de...
Sinoma sells Midong Tianshan and Fukang Tianshan stakes
China National Materials Company (Sinoma) said its subsidiary Xinjiang Tianshan Cement recently carried out an equity transfer framework agreement. A 64.56 per cent stake in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, both held by Tianshan Cement, as well as the 19.39 per cent stake in Midong Tianshan held by Xinjiang Tunhe Cement are to...
Uganda: Hima Cement to build grinding plant in Tororo
Hima Cement is to construct a new 0.9Mt grinding plant in Tororo in eastern Uganda, according to the country’s Observer newspaper. The plant, which is to cost US$40m, will be built close to that of rival firm Tororo Cement’s own factory. Hima’s move follows the announcement that it has signed a deal with Guangzhou Dongsong Energy Group to supply the latter with cement to build a steel plant...
China Resources Cement appoints Ji Youhong as new CEO
Ji Youhong has been appointed as new CEO, executive director and executive committee member of China Resources Cement following the resignation from these positions of Pan Yonghong to pursue other work within China Resources Group. Ji Youhong joined the Group in October 2003 and has served in various managerial positions of China Resources Cement.
Vietnam: Xuan Thanh Cement Phase 2 enters main construction period
The 4.5Mta Phase 2 project of JSC Xuan Thanh Cement is entering its peak construction period, according to company reports. More than 60 per cent of the mechanical equipment, including a clinker kiln, raw and coal mills, ESPs, bag filters and cooler, has been delivered to the installation site. FLSmidth of Denmark was awarded the EUR100m equipment supply contract. Energy efficiency and sta...
Tanzania: Tanga Cement launches new all-purpose cement
Tanga Cement Plc (AfriSam Group) has set its eyes on capturing more of the residential and infrastructure construction market in Tanzania. Its new Mkombozi all-purpose 32.5N cement was launched in Dar es Salaam yesterday, reports the Citizen. "This is all-purpose cement meant for various construction activities," said Leslie Massawe, Tanga Cement's sales manager. "It is a step by the comp...
Pakistan: positive outlook for Pioneer Cement
The outlook for 2017 for Pioneer Cement Ltd appears to be positive, with major projects related to the company’s growth and energy efficiency expected to make further progress. These projects are forecast to boost the company’s profit margins. They include the installation of a 12MW waste heat recovery system, due for commissioning in November-December 2016 and a new 2500tpd grinding mill, ...
Cementir appoints Paolo Bossi CEO of Italian unit, Sacci and Betontir
Italian cement producer Cementir has appointed Paolo Bossi as CEO of Cementir Italia, Cementir Sacci and Betontir. The arrival of Paolo Bossi, following the acquisition of the cement and concrete business of Sacci, currently Cementir starts the rationalisation process of the Cementir group in Italy, a company statement read. The new CEO's first challenges include returning the companie...
Egypt: Wadi El Nile Cement to upgrade clinker output
Wadi El Nile Cement Company (WNCC) has given FLSmidth an order to upgrade its plant from 6000 to 7200tpd of clinker. The order is contained within a new five-year maintenance contract with WNCC for its cement plant located approximately 120km south of Cairo. The arrangement is an extension of the original 2010 contract. "The continuation of the contract is visible proof of the successful ...
LafargeHolcim to consider pulling out of more markets
LafargeHolcim is muling over the option to withdraw from several markets to make last year's merger a success, chairman Beat Hess told weekly Sonntagszeitung. "We will be present in less countries for sure," Hess was quoted as saying. The sale of operations in several countries was an option, he said. While the new company generates 80 per cent of its operational earnings before taxes, ...