Cement News tagged: Corporate
Alfonso Conde new COO Cemex Aragon, Spain
Alfonso Conde has been appointed COO of Cemex in Aragon, Spain. His new responsibilities will include managing quarrying operations, the integrated cement works of Morata de Jalon, as well as the company’s Aragon mortar and concrete plants. Mr Conde hails from Madrid and has a degree in Chemical Engineering from the Alfonso X El Sabio University and an MBA in Management of People for the ID...
India: Amul Cement to build mini cement plant
Amul Cement is constructing a vertical shaft kiln in Patapar village, Junagadh, Gujarat, India. The mini plant will cost INR30m (US$484,587) and will have a capacity of 37,500tpa of cement and concrete products. Machinery will be procured locally. The project is waiting for environmental clearance. Civil work is nearing completion and the project is scheduled for completion in 2Q15.
Tanzania: Twiga Cement forms MOU with Boko prison
A Memorandum of Understanding (MoU) has been signed between Tanzania Portland Cement Company Ltd (Twiga Cement) and Tanzania Prison for the production of limestone at Boko Prison on the outskirts of the Dar es Salaam. Mbaraka Abdulwakil, the permanent secretary in the Ministry of Home Affairs, said the production of limestone from Boko prison mines will commence during the 1Q15 following the ...
Egypt: Arabian Cement Co’s consolidated 9M14 revenues up 17%
Arabian Cement Company has reported its consolidated results for the first nine months of 2014. Revenues in the period rose 17 per cent to EGP1788.5m (US$250m) as compared to EGP1532.1m in 9M13, on the back of the early signs of economic and security improvements in Egypt. Net profit dropped 35 per cent YoY to EGP200.4m, while net profit margin was down nine percentage points to 11 per cent ...
Nigeria: Lafarge develops 6th cement research centre
Nigeria will soon be joining France, China, Brazil, India and Algeria as host to Lafarge’s development laboratory, which is targeted at developing new solutions and business opportunities to consumers, disclosed Gilles Rochard, Lafarge's prospective research and development (R&D) director, during a media tour of the group’s facilities in Lyon, France. “There will be one in Nigeria,” Rochard s...
Baturaja to part-finance new plant with bank loan
Indonesia’s state-controlled cement producer PT Semen Baturaja plans to get IDR700-800bn (US$57.7-65.9m) in bank loans to finance its new IDR2.9tn plant in South Sumatra. The company intends to start construction of the 1.85Mta plant early next year with commissioning scheduled for 2018. In 9M14, Semen Baturaja posted sales of 853,089t and the company forecasts volumes of 1.31Mt for the ye...
PPC full-year cement sales rise 2%
South Africa's largest cement producer, PPC, reported a two per cent rise in cement sales for the full year to the end of September 2014, as growth in some of its sub-Saharan markets was offset by challenging operating conditions at home. Group revenue increased by nine per cent to ZAR9.04bn (US$818m), mainly attributable to the consolidation of Safika Cement and Pronto Readymix as well...
Holcim expects to select buyers for assets by end-Jan
Holcim said it expects to have found buyers for the cement plants and other operations linked to its tie-up with Lafarge by the end of January, and that the merger is on course to be completed by the middle of next year as planned. "We expect the final bids somewhere in January 2015," Bernard Fontana, chief executive of Holcim said at the company's investor day on Tuesday, adding that Holci...
Lafarge Malaysia's 3Q14 pretax down 54.2%
Lafarge Malaysia reported a 54.2 per cent drop in third-quarter pretax profit on lower revenue and higher operating cost arising from the increase in electricity and fuel prices. Pretax profit for the three months to the end of September 2014 plunged to MYR73.9m (US$21.98m) from MYR161.41m a year earlier, the country's largest producer said in a statement released yesterday. Revenues ove...
PCA appoints Toscas president and CEO
The Portland Cement Association (PCA) has named James G Toscas president and chief executive officer, effective 15 December 2014. For the past 11 years, Toscas served as president and CEO of the Precast/Prestressed Concrete Institute, and from 1998 to 2002, he was executive vice president and CEO at the American Concrete Institute (ACI). As a founder of the Concrete and Masonry-Related Associ...
Tangshan Jidong Cement Co to issue CNY1bn bills
Tangshan Jidong Cement Co, Ltd has announced that it will issue CNY1bn (US$16.3m) unsecured short-term bills with a maturity of 365 days on the interbank market on 21 November 2014. The company said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 24 November and the t...
Fitch assigns ‘BB+(EXP)’ to Elementia proposed notes, Outlook Stable
Fitch Ratings has assigned an expected rating of 'BB+(EXP)' to Elementia, SA de CV’s proposed US$400m notes with a maturity of up to 10 years. Proceeds from the notes issuance will be used for general corporate purposes, including the repayment of existing indebtedness and the purchase of joint venture minority interests. The new notes will rank pari passu with Elementias's existing unsecured...
Ashaka nine-month net profit up 3% YoY
Ashaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months results for the period ended 30 September, 2014 showed revenue growth of three per cent YoY to NGN17.3bn profit after tax rose 103 per cent YoY to NGN4.3bn. On a quarterly basis, pro...
Titan suffers in Egypt, but improves elsewhere
Titan’s turnover improved by 3.3 per cent to EUR879.7m in the first nine months of 2013, but EBITDA edged ahead by just 0.1 per cent to EUR146.7m. In the third quarter the EBITDA did decline by one per cent. The trading profit for the nine months was 0.7 per cent lower at EUR57.9m and, after a 6.9 per cent reduction in net financial charges and a positive contribution from associates of EUR...
Oyak Group eyeing Lafarge and Holcim assets
Oyak Group, Turkey’s largest cement producer, has US$2bn in cash for acquisitions and may spend some of it on assets Holcim and Lafarge are looking to shed ahead of their planned merger. The head of the Ankara-based company told Bloomberg in an emailed statement that the group is interested in Holcim and Lafarge businesses in the eastern European countries of Romania, Serbia and Hugary. “We...
Cementos Argos to fire Rioclaro kiln with tyres
Colombia’s Cementos Argos will be using tyres to fire its Rioclaro kiln with the option to extend the programme to its other plants. In Colombia, 110,000t, or 7m, of waste tyres are produced annually, of which 2.5m in Bogotá. The Argos project will be able to use around 75 per cent of this national volume.