Cement News tagged: Corporate
South Africa 2Q volumes edge ahead
Domestic cement demand in South Africa increased by 1.5 per cent YoY to 3.08Mt in the second quarter of 2015, according to a volume update posted on PPC’s website yesterday. The 2Q growth follows a strong advance in the first quarter of this year, when volumes increased by 15.6 per cent compared to the same period of 2014.
Cementos Portland Valderrivas appoints new directors
Cementos Portland Valderrivas (CPV), part of Spain’s FCC, has appointed Carlos Manuel Jarque, current CEO of FCC, and Juan Rodriguez Torres, FCC adviser and newly-appointed non-executive chairman of the Realia real estate co, as directors of CPV. Both men are linked to Mexican magnate Carlos Slim, who acquired a 25.6 per cent majority stake in FCC last year. This places him ahead of Esther K...
China: BBMG to issue CNY1bn medium term notes
Cement producer and property developer BBMG Corporation announced that it will issue CNY1bn (US$157.6m) medium term notes on the interbank market on 14 October 2015 to be used to repay bank loans. The corporation said in a statement that the medium term notes will be issued at the face value, and the coupon rate determined in the process of bookbuilding. The issue may be redeemable on the fi...
Reliance Group to exit cement business?
The Reliance Group has decided to exit the cement business by putting privately-held Reliance Cements up for sale, the Economic Times of India reports. Reliance Group has recently mandated Morgan Stanley and SBI Caps to find potential buyers as the group has decided to focus on new growth areas like defence, according to the article published today. Reliance's foray into the cement industry...
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...