Cement News tagged: Corporate
China’s ICBC and Anouar sign US$171m financing agreement
Morocco’s investment group Anouar Invest has signed a financing agreement with the Industrial and Commercial Bank of China (ICBC) in the amount of US$171m for the construction of a cement works in Settat, Morocco. The project’s MAD2bn (US$203m) engineering, equipment and construction contract was awarded to Sinoma-CDI, which expects the new plant to be up and running by the end of 2018. ...
Holcim to close five Belgian concrete plants
Holcim Belgique announced the closure of five concrete plants in Belgium to union representatives. The step will affect around 60 employees in Brugge, Herentals, Izegem, Oostende and Veurne. “The concrete market in Belgium is stagnating and there exists overcapacity in the sector, which has increasingly deteriorated from year to year,” said the company. “As a result, the activity of Hol...
Mexico: Cruz Azul opens second Palmar de Bravo line
Mexico's Cooperative la Cruz Azul recently opened a second production line at its Palmar de Bravo cement works, operated by its subsidiary CYCNA de Oriente. "CYCNA Orient today reaches 100 per cent of its design capacity. Previously this plant produced 1.2Mta of cement, but with the second line an additional 1.5Mta can be manufactured, giving a total of 2.7Mta, “said Guillermo Alvarez Cuevas...
Cementir Board announces forecasts for 2016, new organisational structure
Cementir Holding SpA's Board of Directors has approved the forecasts for the year 2016 and a new organisational structure for the group. The Group is expecting to achieve EBITDA of around EUR190m next year, and net financial debt of about EUR180m, with planned industrial investments of around EUR65-70m. The Italian cement producer said these forecasts are based on conservative assumptions, ...
Indonesia cement sales up 4.7% in November
Indonesian cement sales rose by 4.7 per cent YoY to 6.1Mt in November 2015, due to improved government spending on infrastructure projects. Widodo Santoso, chairman of the Indonesia Cement Association (ASI), said domestic cement demand rose sharply in November despite seeing some rainfall (which usually leads to delays in development of infrastructure and other construction projects). M...
Ambuja Cements appoints new CFO, India
Ambuja Cements said it has appointed Suresh Joshi as its Chief Financial Officer (CFO) with effect from February next year. In addition, Christof Haessig was appointed as an Additional Director (Non independent - representing the Promoter Group) on the Board of Directors with effect from 9 December 2015. Haessig, at present, is the Head of Corporate Strategy and Mergers and Acquisitions at...
Shanshui Cement says change of Shandong subsidiary's board was legal
Shanshui Cement on Thursday night issued a statement saying that its change of the board and management of its subsidiary, Shandong Shanshui Cement Group, was "legally valid and [does] not violate the relevant laws and regulation of the PRC", based on legal advice from its Chinese lawyers. The statement was in response to allegations made by the Shandong subsidiary, which issued a statement...
Qalaa Holdings 9M15 revenue driven by energy and cement divisions
Qalaa Holdlings reported consolidated revenues of EGP2051.2m in the third quarter of this year, up 19 per cent compared to the same period of 2014. On a nine-month basis, revenues climbed 31 per cent YoY in 9M2015 to EGP6085.5m. Revenue growth in the 9M2015 was driven by both cement manufacturing arm ASEC Cement and energy distribution business TAQA Arabia. TAQA Arabia (energy distributi...
Recent orders for Gebr Pfeiffer in Germany
HeidelbergCement has placed orders for two new Gebr Pfeiffer MBS mills to subsitute older mills at the Burglengenfeld works, in Germany. As part of the modernisation of the kiln line, the four MPS vertical roller mills installed at Burglengenfeld works in Germany will be replaced after 40 years of good operation. HeidelbergCement AG opted for two MPS 4250 B roller mills. Each mill is desig...
FCT named in the top 100 South Australian companies
FCT has announced that it has been named by Australian InDaily SA Business Index in the top 100 South Australian companies. “With their bursts of hot, red flames pumping out at the edge of cricket grounds to the sound of fast and loud music, FCT International has become a regular contributor to the atmosphere at major sporting events," according to the Business Index. The company is...
India: Jaypee Group may sell remainder of cement business
India-based Jaypee Group is to offload the remainder of its cement business with disposals expected to be concluded by March, Business Standard (India) reported citing sources familiar with the deal. The proceeds will be used by Jaiprakash Associates to retire a part of its ~INR61,285 crore debt held in 2014-15, down from ~INR72,599 crore in 2013-14. Jaiprakash Associates had earlier sold...
Polish monthly cement production up 3.1%
Cement production in Poland decreased by 3.1 per cent YoY to 1.22Mt in November, while sales rose by 3.6 per cent to 1.24Mt, Poland's Cement Producer Association said in a statement. Year-to-date production grew 0.6 per cent YoY to 14.65Mt. Meanwhile sales over the period rose by 1.1 per cent to 14.95Mt.
Promoters of the Udaipur Cement Works to sell 13.64 per cent stake
The promoters of the Udaipur Cement Works, including JK Lakshmi Cement Ltd, will sell their combined stake of 13.64 per cent in the company. The promoters of Udaipur Cement Works will sell the stake through the offer for sale (OFS) route today. "The floor price offered under the sale shall be INR10 per share of Udaipur Cement Works Ltd," the promoters told the Bombay Stock Exchange. "JK Laks...
Shanshui subsidiary alleges Tianrui takeover of unit was illegal
Tianrui Group's move to take full control over a unit of Shanshui Cement is facing challenges, Dow Jones reported. Shandong Shanshui Cement Group said in a statement on 'Chinamoney' that Shanshui Cement board's removal of management and directors from Shandong Shanshui was illegal as this required government approval. Chinamoney is an official site affiliated with the central bank, and is us...
Cyprus: change in VCW ownership structure
The Archbishopric of Cyprus purchased 12.84m shares of Vassiliko Cement Works (VCW) from the Hellenic Mining public company at EUR1.20/share. The total value of shares bought adds up to EUR15.4m. The transaction resulted in a change over the voting rights of the participating companies. Hellenic Mining voting rights in Vassiliko Cements, a subsidiary of the Cyprus Cement Public Company (CCPC...
LH appoints Caroline Hempstead as Head of Comms, Public Affairs and Sustainable Development
Caroline Hempstead has been appointed as Head of Communication, Public Affairs and Sustainable Development of LafargeHolcim effective 1 December 2015, reporting to CEO Eric Olsen. Since 2007, Caroline has been responsible for the global Corporate Affairs team at pharmaceutical company AstraZeneca, where she also chaired the Sustainability Council. Prior to joining AstraZeneca, Caroline spent...