Cement News tagged: Corporate
SCIC plans to divest in Sai Son Cement holding
State Capital Investment Corporation (SCIC), the Vietnamese government’s investment arm, plans to sell its entire 3.2 million shares, equal to 16.44 per cent stake of Sai Son Cement JSC (SCJ). The initial price is set at VND14,300 ($0.67) each, 40.2 per cent higher than its market price of VND10,200/share on Monday, but below SCJ’s book value of VND14,650 as of 30 September. SCIC has dive...
KHD appoints Daniel Uttelbach to the Management Board
Daniel Uttelbach has been appointed to the Management Board of KHD Humboldt Wedag International AG effective 1 January 2015. As executive vice president he will be in charge of Sales & Technology for the Group. Prior to his appointment to the Management Board, Mr Uttelbach worked as Vice President Sales & Technology. Previously, he was Vice President Account Management and has thus been leadi...
UltraTech reportedly in talks to buy further Jaiprakash units
UltraTech Cement is in talks to acquire Jaiprakash Associates Ltd's cement plants in central and southern India, people with knowledge of the matter have told local press. The company is discussing the purchase of cement plants in the Indian states of Uttar Pradesh, Madhya Pradesh and Andhra Pradesh, the sources told Mint News. Last year, UltraTech purchased Jaiprakash’s cement plant in Guj...
CRH increases investment war chest
CRH’s recent disposal announced this week is being viewed as positive for further development as it keeps in line with the company's efforts to streamline its portfolio and provides additional financial flexibility for acquisitions. On Tuesday CRH announced it had reached an agreement to dispose of its clay and concrete businesses in the UK and its clay business in the US. The move had be...
Peru's Gloria Group acquires control of Soboce, Bolivia
Peruvian conglomerate Gloria Group has acquired an outstanding 51.35 per cent stake in Bolivia's largest cement producer Sociedad Boliviana de Cemento (Soboce) for US$300m. Gloria previously held a 47 per cent stake in Soboce, once the flagship of magnate and former presidential candidate Doria Medina, with US$280mn in annual sales. Mr Medina, who lost to President Evo Morales in the October...
Dangote expects first cement from new Cameroon works in January
The first bagged output from Dangote Cement’s Douala plant in Cameroon is expected to reach the market in the first week of January 2015, according project director Baba Abdullahi. “We will start production next week and our cement will be available in all the towns of the country. We are working to that effect,” he said. “Various tests start on 20 December 2014 and 10 days later, we will s...
Sibirsky unit receives clearance to increase Iskitimtsement stake
Russia’s Federal Antimonopoly Service has allowed Sibirsky Cement unit Topkinsky Cement to increase its stake in Iskitimtsement to 49.9 per cent from 24.97 per cent, Sibirsky Cement said in a statement on Tuesday. In April 2012, Sibirsky Cement acquired a 10 per cent stake in Iskitimsement. It then approached the Russian competition watchdog for permission to buy the remaining 90 per cent sta...
EU clears Lafarge and Holcim merger, subject to asset disposals
Lafarge and Holcim have received clearance from the European Commission (EC) for their proposed tie-up, marking a key milestone in the merger process. The decision is conditional upon the divestment of select Lafarge and Holcim operations in Europe which were largely in line with previous company guidance with the exception of a slight change in France. "We are very pleased with the positive...
South Valley Cement 9M14 net profit up 10.5% YoY
Giza-based South Valley Cement Co's net profit for the first nine months of 2014 rose by 10.5 per cent YoY to EGP100.58m (US$14m). Net profit for the corresponding period of 2013 stood at EGP91m, the company said in a filing to the Cairo stock exchange. Last month, South Valley Cement approved a capital increase of more than EGP602.8m and ratified a long-term loan of EGP1.27bn from five A...
Graymont to acquire lime assets from Holcim New Zealand
Graymont, the Canadian lime business, has agreed to buy McDonalds Lime from Holcim New Zealand and New Zealand Steel for an undisclosed sum. An agreement has also been reached for Graymont to acquire Taylor's Lime assets from Holcim. McDonalds Lime is 72 per cent owned by Holcim NZ, with the remainder owned by NZ Steel, and has the country’s largest lime quarry at Oparure, north of Te Kuiti...
Hope Construction Materials introduces TomTom Telematic to fleet
Hope Construction Materials, the UK’s leading independent supplier of construction materials, is introducing TomTom Telematics technology to their 400-strong fleet to improve sustainability and customer service. Installation of the integrated telematics system in cement tankers, tipper trucks and concrete mixers is well underway with the entire fleet set to be connected by the start of 2015....
LSR to sell Slantsy cement plant to Eurocement
LSR Group is selling its Slantsy plant in the Leningrad region of Russia to the country’s leading cement producer, Eurocement Group. The parties have signed preliminary sales agreement with Eurocement having obtained approval from Federal Antimonopoly Service of the Russian Federation (FAS). Control of plant operations is expected to be transferred later this month. LSR said in a statement...
CRH announces clay and concrete disposals
CRH has said that it has reached agreement to dispose of its clay and concrete businesses in the UK and its clay business in the US to funds managed by Bain Capital Europe LLP for an enterprise value of GBP414m (EUR522m). This amount excludes real estate assets with an estimated market value of GBP£30m that are being retained by CRH for future disposal. The transaction is subject to regulat...
Cementos Cosmos increases Toral clinker output 6%
Cementos Cosmos’ Toral de los Vados cement works in Spain increased clinker production by six per cent this year to 670,000t. Some 185,000t of the plant’s output has been exported, including 35,000t to Brazil, 44,000t to Ghana and 53,300t to Haiti and 52,700t to the Canary Islands. In addition, Toral has also shipped 35,300t of bulk cement to Madeira via the port of Marín, Pontevedra. I...
PPC receives 17 nominations for non-executive director positions
PPC has received a total of 17 nominations for non-executive director positions on the reconstituted and expanded board by the 8 December 2014 closing date for nominations, Kevin Odendaal, PPC's international business development executive, confirmed with local press on Friday. "The company does not want to pre-empt the circular that will be sent to shareholders most probably this week. The ...
Peru: Pacasmayo Piura to come online in July 2015
Cementos Pacasmayo has invested US$190m in its new Piura plant, Peru, and civil works have been almost completed. “The new plant is a project that we have started more than two-and-a-half years ago. The works, which is built with latest-generation German technology, has a production capacity of 1.6Mta of cement and 1Mta of clinker,” said Humberto Nadal, CEO of Cementos Pacasmayo. The plant ...