Cement News tagged: Corporate
Cemex celebrates Panama Canal expansion inauguration
As the Panama Canal expansion was successfully inaugurated on Sunday, Cemex celebrated along with other suppliers and local dignitaries. The company supplied close to 1Mt of specially-developed cement for the project. “CEMEX congratulates the Government, the Panama Canal Authorities, and especially the Panamanian people for the key role they played in this iconic project, which will change...
South Korea: Sungshin shares down
South Korean company Sungshin Cement has been ranked in the bottom quartile of BSS News Bites South Korean performers for the past year. The company’s performance saw it placed 1519/1756 in the ranking, a percentile ranking of 13. Sungshin shares were also down 35.3 per cent for the year ended 27 June 2016. After climbing from KRW2920 (US$2.47) five years ago to KRW15,300 (US$12.95) one yea...
Egypt: Suez Cement ranked bottom
Egyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percentile ranking of zero. Alongside this low ranking, Suez Cement’s shares also fell 66.8 per cent for the year ended 26 June 2016. Five years ago share price stood at EGP38.75 and fe...
Holcim Indonesia in lower quartile
Holcim Indonesia has ranked in the lower quartile of Indonesian performers for the past year. The company was ranked 274/325 in the BSS News Bites ranking of Indonesian performers in the past year. Shares for the company fell by 32.4 per cent for the year ended 27 June 2016. Revenue growth for Holcim Indonesia had seen a downward trend for the years 2011 to 2013. In 2011 revenue growth stoo...
Cementos Argos completes Panama Canal shipments
Cementos Argos completed the shipment of 1.1Mt of cement in May to the Panama Canal expansion project. Around 760,000t of Type II cement and 340,000t of pozzolan-based product were delivered. The Latin American cement major worked over a year in the development of a product that met the specific technical characteristics - durability, sulphate resistance and low hydration heat - required by...
Russia: CNBM to buy shares in Eurocement
China National Building Materials Group Corporation (CNBM) plans to become a shareholder of Russian cement producer Eurocement Group, the latter company said in a statement Monday. The companies signed an agreement on cooperation in production of construction materials. “The Chinese corporation plans to enter the shareholder equity of Eurocement Group in order to implement the investment pro...
Pakistan: Environment agency orders two plant closures
Pakistan’s Environmental Protection Agency (EPA) has ordered two cement plants to close for filing to install measures to control dust emissions, according to reports in the local press. The plants affected belong to Dewan Cement and Kohat Cement. A spokesperson for the EPA said that both companies had been told to act to curb dust pollution but not done so to date. Dewan Cement’s Hattar p...
Nepal: Hongshi-Shivam plant faces possible delays
Hongshi-Shivam Cement’s plans to build a 2Mta cement plant in Nawalparasi in southern Nepal have run into problems over the amount of land needed for the project, Xinhua reports. Under Nepali law, government ministers must approve land sales above eight hectares, while Hongshi-Shivam has said it requires 40ha to build the plant. A director at Hongshi-Shivam, Satish More, said: "The Land Ref...
Azerbaijan: EBRD 20% LafargeHolcim investment
The European Bank for Reconstruction and Development (EBRD) is considering the purchase of up to a 20 per cent stake in LafargeHolcim’s cement and clinker plant in Azerbaijan. If it decides to invest, EBRD will support LafargeHolcim in improving energy efficiency through the introduction of alternative fuels. EBRD previously supported the company’s Azerbaijani plant with a EUR170m structured c...
India: Shree Cement completes Aurangabad grinding unit upgrade
Shree Cement has announced the completion of the upgrade works to its Aurangabad grinding plant in Bihar, Business Standard reports. Capacity at the plan rose from 2Mta to 3.6Mta, effective from 22 June 2016. Shree’s shares rose by three per cent after it made the news public. Shree Cement is in the process of expanding clinker production at its Raipur works with that upgrade expected to be...
India: Kanodia Group launches BIFCEM brand
Kanodia group launched its new ‘BIGCEM’ cement brand initially targeting the markets of Uttarakhand and Western Uttar Pradesh. The company wishes to expand to Delhi and NCR in its coming expansion programme followed by Bihar in August 2016 The BIGCEm brand was revealed in the presence of Vishal Kanodia, managing director, Gautam Kanodia, director and Manoj Kamboj, CEO of Kanodia Group. Mr...
Adelaide Brighton sees potential in US$2bn acquisition
Adelaide Brighton Group says it has carried out detailed work on a potential US$2bn acquisition of the Australia and New Zealand operations of LafargeHolcim, including a plan to address competition issues. Martin Brydon, Adelaide Brighton's chief executive, confirmed that Adelaide Brighton had been working with its longstanding takeover defence adviser Credit Suisse and Blackpeak Capital....
Italmobilaire to acqure non-core assets
HeidelbergCement AG and Italcementi SpA have made an amendment to HeidelbergCement's acquisition of the entire participation held by Italmobiliare in Italcementi SpA. The new procedure will allow the parties to proceed with the closing of the transaction on 1 July 2016. Before the closing date, Italmobiliare will now acquire the “non-core assets” ie those participations currently held by It...
Algeria: GICA subsidiary starts work on Bechar plant
Work has begun on a new cement plat for Saoura-Ciment company, a GICA subsidiary. Situated 965km south of Algiers, the greenfield Bechar cement plant will cost DZD34bn to build and will have a cement capacity of 1Mta. This plant, which will be commissioned in 2019, will allow the strengthening of national production to raise it to 23Mta, said officials from the Public Industrial Group of C...
India: Jaypee Group still needs to reduce its debt level
For the promoters of Jaypee group, the aggressive expansion during the last decade has cost them dearly. The Delhi-based group had to sell profitable assets to remain afloat even as banks, alarmed by its defaults, are pressurising the group to put more assets on the block, writes the Business Standard. A senior banker with Mumbai-based public sector lender said the intent of Jaypee group to ...
USA: clearance for Italcementi acquisition
On 17 June 2016, the United States Federal Trade Commission reached an agreement with HeidelbergCement AG and Italcementi SpA allowing the merger between the two companies to proceed on schedule. The Federal Trade Commission accepted the proposed divestment of operations in the US, which primarily consists of Italcementi’s Martinsburg, West Virginia plant and up to 11 terminals. All competi...