Cement News tagged under: Namibia
Schwenk Zement terminates Namibian purchase agreement29 February 2024, Published under Cement NewsThe purchase agreement between Schwenk Zement International GmbH and RWCo GmbH regarding shares in Schwenk Namibia (PTY) Ltd has been cancelled. The agreement, which was signed on 6 April 2023, was for 100 per cent of the shares in Schwenk Namibia, which holds, inter alia, 69.83 per cent of Ohorongo Cement (PTY) Ltd and 100 per cent of Energy For Future (PTY) Ltd. The agreement was waiting on the approval of the Namibian Competition Commission (NaCC). According to RWCo, rather than a... |
Cheetah Cement ordered closure13 May 2022, Published under Cement NewsNamibia’s labour ministry has ordered Chinese-owned Cheetah Cement plant at Otjiwarongo to stop production due to health concerns. The ministry says a team of occupational safety, health and labour inspectors concluded after an inspection that the company's plant is an unsafe working environment. The ministry's acting executive director, Lydia Indombo, says the ministry identified shortfalls and contraventions in terms of health regulations, and that the company was instructed to make im... |
Namibia’s cement sales affected by COVID-1917 August 2020, Published under Cement NewsThe lack of economic activity due to the coronavirus pandemic has affected cement sales by Ohorongo Cement, said Frankleen Alberts, the company’s customer relations and public affairs manager. “Cement sales have been affected since the outbreak of the virus. We were able to continue supplying our Namibian market without major interruptions while adhering to the regulations under the state of emergency. However, due to the restrictions and quarantine rules by neighbouring countries, our exp... |
Ohorongo Cement sale blocked by competition commission05 August 2020, Published under Cement NewsThe Namibian Competition Commission has reportedly blocked the NAD1.5bn (US$86.67m) sale of Schwenk Namibia, which manages and owns 69.8 per cent of Ohorongo Cement, to West China Cement, according to The Namibian. "The Namibian Competition Commission [has] made a decision to prohibit the acquisition of Schwenk Namibia (Pty) Ltd by West China Ltd due to the fact that it would result in coordination between Ohorongo Cement (Pty) Ltd and Whale Rock Cement," said notes on the decision. The ... |
Competition Commission to hold public consultation on Ohorongo Cement sale10 July 2020, Published under Cement NewsThe Namibia Competition Commission has advised that members of the public can contribute their views on the proposed sale of Ohorongo to West China Cement. Members of the public will be invited to a conference on the matter as the acquisition is likely to create a monopoly in the cement industry in Namibia, as West China Cement also has a majority stake ion Cheetah Cement which is the sole competitor to Ohorongho Cement. The commissions is also concerned that Namibian employees at Ohorongo... |
Ohorongo Cement to be acquired by West China Cement06 January 2020, Published under Cement NewsNamibia's Ohorongo Cement is set to be acquired by West China Cement for US$104m, following an agreement made on 3 January. The takeover is expected to completed soon but is subject to Namibian regulatory approval. Negotiations reportedly began last year when the owners of Ohorongo Cement announced plans to sell its mine which has over 80 per cent of the site’s raw materials. The sale and purchase agreement is subject to certain conditions which must be satisfied by 31 March 2020 in or... |
Ohorongo Cement sees value in charcoal fines21 November 2019, Published under Cement NewsOhorongo Cement in Namibia has partnered with Carbo Namibia, a Namibian manufacturer and exporter of charcoal products, in an attempt to increase its energy saving initiatives and lower its carbon footprint. Ohorongo initially approached local charcoal producers within the Otjozondjupa region to procure charcoal fines to utilise as alternative fuel. Prior to Ohorongo procuring the fines, it was essentially a waste product, as it was not viable for export purposes. Through their supply agr... |
Ohorongo Cement plans to reduce bulk road transport02 October 2019, Published under Cement NewsNamibia-based Ohorongo Cement has extended its partnership with Transnamib to reduce its use of road transport in the moving of bulk materials around the country. Transnamib has seen the construction of a multi-faceted private siding with two independent sections designed for in- and outbound shipments at Ohorongo Cement’s plant near Otavi. Ohorongo Cement and Transnamib entered into a public-private partnership with the establishment of their Ondangwa depot, in which Ohorongo investe... |
International Cement cancels US$144m deal to buy Schwenk Namibia30 September 2019, Published under Cement NewsInternational Cement Group (ICG) has cancelled its proposed US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The extension came after the Singpore Exchange rejected the acquisition bid in June as Schwenk was not pr... |
Namibia cement demand remains weak02 May 2019, Published under Cement NewsCompetition between cement producers has brought down prices as domestic demand remains fairly low when compared with increasing supply, according to First Capital. In March 2019 domestic production capacity has more than doubled to 2.2Mta, when compared with 1Mta in March 2018 as Whale Rock entered the market. However, local demand remains at 0.6Mta. This has led to a fall in prices with First Capital highlighting a drop of 10.4 and 10.1 per cent for semi- and high-strength cement, respe... |