Cement News tagged: Corporate
UK: Hope Cement launches bagged product range
Hope Construction Materials have officially unveiled its new high-performance bagged cement products, which, for the first time, are all available in the company’s own packaging, as ICR reported in its March 2016 issue. Hope say customers can expect to benefit from advanced packaging technology and unparalleled delivery service, which aims to provide a consistent lead-time commitment of 1-3 d...
Spain: FCC refinances Portland Valderrivas debt
In the restructuring of the group, Spain’s FCC plans to refinance the syndicated debt of Cementos Portland Valderrivas (CPV), in which it owns a 77.9 per cent stake. Funds from FCC’s capital increase will be used to write of EUR325m of EUR823m of the total amount. CPV will then refinance the outstanding EUR500m over a period of five years. The refinancing will also enable the Spanish cement...
Oman: Raysut Cement 2Q16 profits fall 2%
Raysut Cement Company (RCC) reported a decline by two per cent in its second-quarter profits, according to a bourse statement. Profits reached OMR4.8m in 2Q16, compared to OMR4.9m (US$12.72m) in 2Q15. Moreover, net profits stood at OMR12.9m |(US$33.5m) in the first half of 2016, an increase of 17.8 per cent from OMR10.96m in the first half of 2015.
Oman Cement’s 1H16 profits up 25%
Oman Cement has announced its profits are up by a quarter YoY for the 1H2016. In the first six months of the year, the company made a profit of OMR6.8m (US$17.7m), Muscat Daily reports. Total revenue was up by 15 per cent, at OMR31.5m (US$81.7m). The performance marks a recovery for Oman Cement after a poor trading year in 2015, but profits are still below their levels in the first six mont...
Ghana: Dangote creates 5000 jobs
To improve the access and availability of cement across the country, Dangote Cement Ghana has acquired 1000 new trucks for the distribution of cement into all parts of Ghana. These new trucks have opened up opportunities for drivers, loaders and truck driver assistants. Media Relations Manager for the company, Etornam Komla, said that the cement producers has started the recruitment process an...
thyssenkrupp appoints new board members
Michael Höllermann and Johan P Cnossen will form part of thyssenkrupp Industrial Solutions’ management board from 1 August 2016. Michael Höllermann will be appointed Chief Human Resources Officer following his position as CEO of Regional Headquarters South America, which he has held since 2012. Johan P Cnossen, in addition to heading up the Transformation Office for the implementation of “...
China: Jinyuan Cement to raise CNY1.36bn in private share placement
Jinyuan Cement plans to raise up to CNY1.36bn (US$204m) in private placement of shares to fund a company acquisition, projects and repay bank loans. In June Jinyuan Cement bought a 51 per cent stake in a Jiangsu-based new materials technology firm from the Jinyuan Holding Group for CNY2.55m. Earlier this year Reuters said the company had scrapped a major asset restructuring plan. Ji...
UAE firm bids for Holcim Lanka Ltd
Dubai-based Onyx Group owned by Sri Lankan businessman, Nandana Lokuwithana, is said to have joined bidders in the process to buy Holcim Lanka Ltd, according to Business Standard. There are six leading bidders for the Sri Lankan cement producer from China, the UAE, Indonesia, Thailand and Sri Lanka. Binding bids have been received from several companies with final negotiations to be conclud...
Algeria: CILAS clinker line successfully commissioned
Algeria's CILAS saw the successful start-up of its new clinker production line with the ignition of the kiln on 10 July 2016, 11 days ahead of schedule, in the presence of Didier Michel, representing CILAS' parent company LafargeHolcim, and Wang Hui of contractor CBMI. Both companies expressed their thanks and appreciation for the work completed and the teamwork shown. Algeria Spa CILAS ...
India: Nirma to acquire Lafarge India for US$1.4bn
LafargeHolcim has announced that it has reached agreement with Nirma Group for the sale of Lafarge India. The deal - valued at US$1.4bn - will see Nirma acquire assets that include 11Mta of grinding capacity and several limestone quarries. Nirma has won out against four other bidders: China’s Anhui Conch, Mexican firm Cemex, and domestic firms JSW Cement and Piramal Group. The Competition C...
India: Birla eyes September completion of Reliance acquisition
Birla Corporation has said that it expects to complete its acquisition of Reliance Cement by September, Gulf Today reports. The US$711m deal was initially struck in February 2016 and will raise Birla’s cement capacity from 10Mta to 15.5Mta, as well as securing access to mineral concessions. A group of Birla shareholders took the company to court in an effort to block the deal, but this was ...
India: modernised MCCL almost ready for commercial production
The modernised plant at Mawmluh Cherra Cements Ltd (MCCL) is expected to begin its commercial operation in two weeks’ time, acording to the Sholling Times. MCCL managing director, Sanjay Goyal, said the works requires certain clearances from the Central Excise department and a pollution clearance before it can start commercial operation. He said the INR1000m (US$14.8m) modernised facility ...
Puerto Rico: Cemex agrees penalties for MSHA safety violations
The US Department of Labor’s Mine Safety and Health Administration announced that Cemex de Puerto Rico has agreed to pay US$291,722 in penalties and implement enhanced safety measures at its three MSHA-regulated facilities in Puerto Rico. The settlement resolves 119 citations and orders issued for safety violations at the company’s Ponce Cement plant and Cantera Canas mines. MSHA issued the c...
Kenya: LafargeHolcim accused of conflicting priorities over EAPCC holdings
The outgoing chief executive of the East Africa Portland Cement Company (EAPCC), Kephar Tande, has told Kenya’s Standard newspaper that LafargeHolcim should either divest itself of its holdings in the firm or take it over completely. Kephar Tande, who steps down in November, said that LafargeHolcim’s 41.7 per cent stake in EAPCC makes the multinational firm his largest shareholder. However,...
FLSmidth MAAG Gear appoints new head of global operations
Jens Westh has resigned his position as vice president & head of global operations at FLSmidth MAAG Gear. Morten Toft, presently heading customer services in FLSmidth Airtech, has accepted the position as new head of global operations at FLSmidth MAAG Gear. Morten Toft is a Mechanical Engineer with 21 years of experience with service in different positions within FLSmidth.
India: Delhi real estate developers to boycott Shree Cement
The Confederation of Real Estate Developers' Associations of India’s (CREDAI’s) regional representatives in Delhi have announced that they will boycott Shree Cement, according to reports in the Times of India. CREDAI accuses the cement producer of pushing up prices and creating artificial scarcity. It intends to file a complaint with the Competition Commission of India (CCI). A CREDAI sp...