Cement News tagged: Corporate

Egypt: Qalaa 1Q16 losses

08 July 2016, Published under Cement News

Qalaa Holdings recorded a 1Q16 net loss of EGP242.7m (US$27.3m), greater than the losses of EGP112.2m (US$12.6m) seen in the same period last year, as reported by news organisation Zawya Ltd. Total revenues saw a 20 per cent increase YoY in 1Q16 compared to the adjusted EGP1.44bn reported for 1Q15. Comparative 1Q15 figures have been adjusted to reflect the divestment of ASEC Minya, ASEC Rea...

India: Ramco given go ahead for power plant upgrade

07 July 2016, Published under Cement News

Ramco Cements has received a boost to its share price after it was given environmental clearance to expand the power plant at one of its facilities. The company’s shares rose by 0.7 per cent after it announced that it had been allowed to proceed with its plans to expand the captive power plant at Alathiyur in Tamil Nadu . This project will raise generation capacity to 42MW at a cost of ...

TCC International Holdings forecasts 1H16 loss

08 July 2016, Published under Cement News

Hong Kong-based TCC International Holdings Ltd  issued a profit warning, expecting to record a loss for the six months ended 30 June 2016, as compared with the profit of US$10.5m in the year-ago period. The turnaround was mainly due to the decrease in the average unit selling price of cement, clinker and slag powder in China as compared with the year-ago period as well as an expected fore...

India: two new projects announced

06 July 2016, Published under Cement News

Birla Group’s Mangalam Cement and Absolute Cement & Polymers have unveiled plans to increase capacity at existing plants in India. Mangalam’s project – the larger of the two – will see its Kota integrated plant upgraded from 6.1Mta to 9Mta. This includes expanding clinker capacity from 4.06Mta to 5.3Mta and increasing the size of its captive power plant to 52.5MW. The project is expected to...

LafargeHolcim’s fifth international design awards opens for entries

LafargeHolcim’s fifth international design awards opens for entries

06 July 2016, Published under Cement News

This week sees LafargeHolcim’s fifth international sustainable construction awards open for submissions. The awards, administered by the LafargeHolcim Foundation, will be accepting entrants until 21 March 2017. The competition’s main category is open to architects, planners, engineers, students of related disciplines, project owners, builders and construction firms that showcase sustainable...

India: UltraTech concludes Jaypee deal

06 July 2016, Published under Cement News

UltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement opera...

Cyprus: Vassiliko Cement does not expect strategy change

Cyprus: Vassiliko Cement does not expect strategy change

06 July 2016, Published under Cement News

Cyprus’s Vassiliko Cement Works Plc Ltd said HeidelbergCement AG is now in control of almost 26 per cent of the Cypriot cement company's voting rights after it acquired a controlling stake in two of its major shareholders. HeidelbergCement directly and indirectly owns 45.5 per cent of Italcementi, which in turn is the owner of of Compagnie Financière et de Participations and Italmed Cement ...

Pakistan: Pioneer approves new 7000tpd plant

06 July 2016, Published under Cement News

Pioneer Cement (PIOC) informed Pakistan Stock Exchange (PSX) on 4 July that the company’s board of directors has approved a capacity expansion plan for a new 7000tpd cement plant. The present Chenki unit, Khusshab district, produces 2Mta of cement in the heart of Punjab province, 250km away from Lahore and 120km away from the M2 motorway. The board also directed company management to con...

Pakistan: Kohat Cement reappoints chief executive

06 July 2016, Published under Cement News

Kohat Cement Company Ltd (KCCL) announced that it has re-appointed Aizaz Sheikh as chief executive and Nadeem Atta Sheikh as executive director for a term of three years commencing from 29 June 2016. The decision was made in the company's board meeting held on 2 July, in Lahore, says a notice sent to Pakistan Stock Exchange (PSX).

HeidelbergCement completes 45% shareholding in Italcementi

08 July 2016, Published under Cement News

HeidelbergCement AG has completed the acquisition of a 45 per cent shareholding in Italcementi SpA from Italmobiliare SpA. All conditions for the closing of the transaction have been fulfilled following the approval by the relevant competition authorities. "Today’s closing is an important milestone in the history of HeidelbergCement," said Dr Bernd Scheifele, chairman of the Management Board,...

Vietnam: government to sell Vicem stakes

06 July 2016, Published under Cement News

According to a local news source, the Ministry of Construction is set to divest its stakes in Vicem through an initial public offering in 4Q16. Cement producer Vicem currently control 34 per cent of the local market. At the end of last year the company announced on its website that the share sale would pare the state holding to a minimum of 51 per cent. Investors from Thailand and Indonesia...

Indonesia: SCG Indonesia's sales revenue up 18% YoY

08 July 2016, Published under Cement News

SCG Indonesia, a subsidiary of the Thai cement conglomerate Siam Cement Group (SCG), saw its sales revenue increase 18 per cent YoY to IDR1.39trn (US$103m) in the first quarter, mainly from cement sales. SCG Thailand reported that revenue from SCG Indonesia's sales contributed 3.43 per cent of the company's profits in the first quarter, which was equivalent to US$3bn, according to a company s...

Deadline day reached for Lafarge India bids

08 July 2016, Published under Cement News

Today (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirm...

India: Jaypee Group debts threaten cement unit sale

06 July 2016, Published under Cement News

Creditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTec...

Pakistan: WHR for Askari Cement's Wah plant

01 July 2016, Published under Cement News

Pakistani cement producer Askari Cement Ltd is planning to install a waste heat recovery (WHR) plant for its 3500tpd clinker line at its Wah works in Rawalpindi, Punjab.It is currently negotiating with leading international WHR suppliers. At present Askari Cement has two plants in operation: one is located in Wah and the other in Nizampur (Khyber Pakhtun Khwa), with a combined production ca...

Mongolia clinker line successfully carries out ignition

06 July 2016, Published under Cement News

The 1Mta clinker line constructed by China Triumph International Engineering Co for China United Cement Co was ignited according to schedule on 10 June 2016. The step indicates that the project enters a stage of regular production despite challenge faced by the construction team. Extreme cold and blizzards hindered the building of the production line while labour shortages and restricted w...