Cement News tagged: Corporate
China Resources Cement issues profit warning
China Resources Cement (CRC) has said that based on the preliminary assessment of the group’s unaudited consolidated management accounts for the nine months ended 30 September 2015, attributable profit during the period is expected to "significantly decrease" as compared with that of 9M14. The decline is primarily attributable to lower selling prices of cement and clinker in China compared wi...
Vietnam nine-month sales up 3% YoY
Vietnam sold 52.11Mt of cement and clinker in the first nine months of this year, rising three per cent from a year earlier and fulfilling 73 per cent of the whole-year target, the country’s Building Material Department under the Ministry of Construction said. Of the sum, 40.26Mt of cement were sold at the domestic market, up eight per cent YoY, while exports fell 12 per cent YoY to 11.85Mt ...
Lafarge Nigeria unit takes control of UNICEM
An affiliate of Lafarge Africa has completed a 100 per cent acquisition of Nigeria's third-largest cement manufacturer, United Cement Company of Nigeria (UNICEM). Lafarge said its affiliate Nigerian Cement Holdings (NCH), owned a 70 per cent equity in UNICEM before agreeing a deal last November to buy the remaining 30 per cent stake from Flour Mills, Reuters reported. Unicem, which is based ...
Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries
Egyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes...
CalPortland completes acquisition of California assets from Martin Marietta Materials, USA
Taiheiyo Cement USA, Inc and CalPortland Company announced that the purchase of certain Riverside cement business assets in California from Martin Marietta Materials, Inc was successfully completed on 30 September, 2015. The assets identified in the purchase include the Oro Grande Cement Facility, and two rail sided product distribution terminals located in in National City, CA and Stockton, CA.
Italcementi announces change to Board of Directors
Italcementi announced that Elena Zambon is retiring from its Board of Directors for professional reasons. Ms Zambon had been acting as Independent Director and was a member of the Strategic Committee of the Company, having been in charge since 16 April 2010.
Court of Rome declares validity of Buzzi offer for SACCI
Buzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015. The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI. The composition plan will be subject to the vote of the creditors in the ...
ThyssenKrupp merges plant technology businesses in France
ThyssenKrupp is strengthening its plant technology capabilities in France by merging the formerly-separate entities Polysius and KH Mineral to become ThyssenKrupp Industrial Solutions (France), the company said in a statement yesterday. The step came into effect as of 1 October 2015. As of today, ThyssenKrupp Industrial Solutions (France) employs around 300 employees at two locations in Aix-...
Cementos Molins to enter Colombian market
Cementos Molins has signed an agreement to enter the Colombian cement market with local home and construction specialist Corona. The Spanish cement producer plans to build a EUR335m cement works in Antioquia. The plant will have a capacity of 1.35Mta and is scheduled to come online in mid-2018. The production facility will provide 220 direct and 250 indirect jobs during operation and ...
Dangote Cement appoints two regional CEOs
Dangote Cement has appointed two new Regional Chief Executive Officers (RCEOs) to lead its Nigeria and West and Central Africa divisions. Arvind Pathak has been named the new RCEO of Nigeria while Vivek Chawla is the new RCEO for West and Central Africa. Mr Chawla has over 30 years of experience in the cement industry working across functions including management, operations, sales & market...
American Starlinger-Sahm hosts grand opening of US HQ
American Starlinger-Sahm Inc celebrated the official opening of the new US headquarters in Fountain Inn, in the Greenville Metropolitan area, South Carolina, with a two-day Open House. The inauguration ceremony of the new 23,000ft 2 facility was held on the evening of 23 September 2015 and attended by the mayor of Fountain Inn, Gary Long, as well as the Director of Fountain Inn Administratio...
DR Congo: new plant online in December 2016
Dangote’s new plant in the Republic of Congo is expected to enter production in December 2016. The new 1.5Mta plant in Bouenza, Yamba district represents an investment of XOF139.725bn. However, the succesful completion of this project is subject to the construction of a new bridge over the Niari river on the Buiansa-Mouyondzi axis. The old bridge, which has a carrying capacity of 25t, does not...
Pakistan cement industry records revenue growth of 3.4% in FY15
Pakistan's domestic dispatches grew by 7.9 per cent YoY in FY15 to 28.2Mt, while exports fell 11.6 per cent YoY to 7.2Mt. The drop in exports limited revenue growth in the Pakistan cement sector to 3.4 per cent YoY. Overall profitability increased by 20 per cent YoY in the last fiscal to PKR35.6bn compared with PKR29.7bn in FY14. The outlook on local dispatches remain strong due to t...
Venezuela: Trujillo's line 2 construction makes steady progress
The construction of the second line at the Trujillo plant of Venezuela’s Cemento Andino has progressed to 35.1 per cent, according to the president of Corporación Socialista del Cemento. "The growth we are experiencing today will have a major impact on the development not only of Trujillo, but of Venezuela. With this new line, the cement production capacity of this subsidiary will triple, t...
Cemex USA announces divestment in the southeastern United States
Cemex USA announced Friday that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM. The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes. The transaction is expected to be completed by end-2015. Bank of Americ...
Guatemala: Fitch affirms Cementos Progreso IDRs, Outlook Stable
Fitch Ratings has affirmed Cementos Progreso SA's (Cempro) Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlook is Stable. Cempro's 'BB+' ratings reflect the company's leading position in Guatemala's cement industry. Its solid market position is viewed as sustainable considering the country's limited infrastructure and challenging logistics, which limit imports and significantly incre...