Cement News tagged: Corporate
Italcementi sells its own shares to HeidelbergCement for EUR40.9m
Italcementi tendered on 19 September 3,861,604 company shares, corresponding to all of its own shares held, for a total of EUR40.9m during the mandatory takeover bid launched by German HeidelbergCement on the shares it did not own in the Italian group. Italcementi shares were bought by HeidelbergCement France at a price of EUR10.6 per share, as provided in the tender documents on Italceme...
Rwanda: dealers and developers call for Cimerwa price drop
Cement dealers and property developers in Rwanda's capital, Kigali, have called on Cimerwa to cut its prices, Rwanda Focus reports. Current prices for a 50kg bag of Cimerwa cement are around RWF11,000 (US$13.68), compared to RWF8500-9000 for imported cement. Busisiwe Maria Legodi, Cimerwa's CEO, said in an interview with Rwanda Focus earlier this year: "People who think that imported cem...
Uganda: Hima Cement signs supply deal with Guangzhou Dongsong
Uganda's Hima Cement and Guangzhou Dongsong Energy Group have signed a memorandum of understanding for the supply of over 40,000t of cement for the construction of the latter firm’s phosphate and steel projects, Kampala’s Observer newspaper reports. Daniel Pettersson, chief executive officer of Hima Cement, said: "The purpose of this MoU is to establish the relationship between Hima and Gua...
Pakistan: Dewan Cement denies Anhui Conch interest
China's Anhui Cement Co Ltd is reported by Pakistan's local media to have set its eyes on Dewan Cement Ltd (DCL) as it seeks business opportunities in Pakistan. While DCL shares have been trading heavily as a result in the past few months, DCL has denied rumours of a takeover. DCL Director, Haroon Iqbal, and Company Secretary, Muhammad Hanif German, said in response to a Pakistan Stock Exc...
Azerbaijan: EBRD increase stake in Holcim plant
The European Bank for Reconstruction and Development (EBRD) has raised its stake in the equity capital of Holcim (Azerbaijan) OJSC in Azerbaijan (formerly Garadagh Cement Plant) to 20 per cent. A statement from the EBRD read, “The bank will continue to support a major company in Azerbaijan, demonstrating continued support for the country's non-oil sector. In addition, the company is committ...
India: Nirma raises US$598m to finance Lafarge acquisition
Nirma Group, which in July won the race to buy Lafarge India for a reported US$1.4bn, has raised INR40bn (US$598m) from a bond sale to finance the purchase, the Economic Times reports. Nirma has created a special purpose vehicle, Nirchem, which administered the bond sale and will be used in the acquisition process. The sale, the largest of its type, was oversubscribed, with investors att...
India: Ramco increases sales by 15% in 1Q16-17
Ramco Cements Ltd has stated that it sold 2.076Mt of cement in domestic and export markets during the first quarter ending on 30 June 2016 compared to 1.813Mt in corresponding quarter last year, which translates to a growth of 14.5 per cent. The company has earned a net profit of INR1563.6m (US$23.4m) in 1Q16, an increase from INR992.50m in 1Q15. Cement sales improved by about 15 per cent du...
Egypt: FLSmidth awarded WNCC upgrade and operation contract
The Wadi El Nile Cement Company (WNCC) has signed a new five-year contract with FLSmidth that will see the Danish firm continue to maintain and operate a 2Mta plant located 120km south of Cairo. In addition to the operations contract, FLSmidth will upgrade the plant to increase its capacity to around 2.4Mta. The new capacity is expected to come online by mid-2017. FLSmidth Cement Divisio...
USA: Lafarge to part-close Joppa plant
Lafarge North America has announced it is to close one of the two kiln lines at its Joppa plant in southern Illinois and lay off about 40 workers. The move, reported by local media, has been attributed to weakening demand. A spokesperson for Lafarge said that the cement market had not grown according to its expectations and thus the firm would scale back production. In May 2016 Lafarge s...
Paraguay set for increased competition
Competition in the Paraguayan cement market is expected to intensify following the announcement by Italy’s Colacem that it will invest US$220m in new production facilities in Concepción. Environmental impact studies are expected to start very shortly with construction of the 1.5Mta plant scheduled to begin in 1H17. The new plant will help to drive domestic cement prices down as well as inc...
Nigeria: Sokoto Cement will have 60MW power by mid-2017
Sokoto Cement (Cement Company of Northern Nigeria Plc) will build two additional power plants by mid-2017 that will enable the company to generate at total of 60MW of electricity, reports All Africa. The company currently generates 16MW electricity from its biomass plant for its use and for neighbouring communities. Sokoto Cement promised to reduce its current NGN1.3bn (US$4.1m) debt by incr...
Paraguay: INC takes delivery of new mill
On Tuesday Paraguayan cement producer Industria Nacional de Cemento (INC) took delivery of the new mill for its Villeta works. It is expected that the new mill will help the cement producer to double production capacity. Forecasts indicate that the increased supply to the market will result in a fall in cement prices to PYG35,000 in around the first quarter of 2018 although a decrease may st...
Kazakhstan: Steppe Cement 1H loss falls in dollar terms
Steppe Cement has published its financial results for the first six months of 2016. Losses in dollar terms fell to US$1.5m from US$2.2m in the same period in 2015. However, due to a revaluation of the tenge, losses in the company’s operating currency rose from KZT407m (US$1.2m) in 1H2015 to KZT517.5m in 1H2016. Turnover fell by 1.1 per cent to KZT8.2bn, but sales rose 6.1 per cent in volume...
Nepal: Sarbottam Cement released on to the market
Sarbottam Cement Pvt Ltd (Saurabh Group) has launched its OPC and PSC cement in the Nepalese market. Sarbottam Cement, which is an ISO 9001 and 14001 certified company, has production capacity of 40,000 bags per day, the Himalayan Times reports. Sarbottam Cement produces cement in a 1200tpd plant about 50km from Lumbini. The works, which was built by FLSmidth in 2014, includes a vertical r...
Pakistan: Maple Leaf expansion plans
Maple Leaf Cement Factory Ltd announced that its board of directors has approved an additional dry-process clinker production line (No. 3) at its existing plant site in Iskanderabad District, Mianwali, Pakistan. The new line will operate at a capacity of 7000tpd, pushing grey cement production at the plant to 17,700tpd. The project is expected to cost PKR20bn (US$191m) with aims to be compl...
USA: Eagles Materials to buy Cemex Fairborn plant
Cemex US has signed a definitive agreement for the sale of its Fairborn (OH) cement plant and cement terminal in Columbus (OH), including a bagging operation to Eagle Materials Inc for approximately US$400m. The 2016 EBITDA for the divested assets is estimated to be US$33m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes....