Cement News tagged under: corporate
Heidelberg Materials Hellas in partnership with Sympower12 April 2024, Published under Cement NewsGreece-based Heidelberg Materials Hellas is working with energy specialist Sympower to “unlock and monetise” the cement producer’s energy-intensive equipment. According to Sympower, the partnership marks a significant step in accelerating Greece’s energy transition and strengthening its electricity grid. By utilising three of Heidelberg Materials Hellas’ cement mills and one of its raw mills, Sympower will optimise their energy flexibility and provide their capacity to Greece’s balanci... |
Votorantim Cimentos opens new waste treatment unit in Itaperuçu12 April 2024, Published under Cement NewsBrazil-based Votorantim Cimentos inaugurated its first Brazilian unit dedicated to the operations of Verdera, its sustainable waste management and disposal arms and Viter, an agricultural inputs business, in Itaperuçu. The waste treated at the Itaperuçu will be used at Votorantim Cimentos' Rio Branco do Sul plant. The BRL145m (US$28.6m) investment will house a new Verdera waste crushing plant an a new agricultural limestone production line. Verdera's new shredding plant has the capacit... |
Fitch Ratings expects Taiwan Cement to maintain credit profile after earthquake12 April 2024, Published under Cement NewsThe BBB-/Stable credit profile of Taiwan Cement Corp (TCC) is unlikely to be affected by the equipment damage and operational disruption caused by the 3 April 2024 earthquake in eastern Taiwan, according to Fitch Ratings. Repairment costs and lost revenue in relation to the earthquake should not damage TCC's financial profile, as the amounts are immaterial relative to TCC's EBITDA of TWD20bn (US$619.7m) and TWD126bn of cash on hand as of end-2023. The company's preliminary assessment esti... |
CEMEX refinances credit agreement12 April 2024, Published under Cement NewsCEMEX has successfully refinanced its euro-denominated sustainability-linked syndicated credit agreement, extending the final maturity to 2029. The refinanced credit agreement consists of a EUR450m five-year amortising term loan, and a new EUR300m four-year committed revolving credit facility. This represents a reduction of EUR50m in the term loan and an additional source of liquidity in the form of a revolver. According to the company, the signing of this agreement is an integral par... |
Competition Tribunal grants approval for Afrimat's acquisition of Lafarge South Africa11 April 2024, Published under Cement NewsAfrimat has notified its shareholders that the Competition Tribunal has granted approval for the Lafarge South Africa ( Holcim ) acquisition. All other regulatory authority approvals have been granted. In a Stock Exchange News Service announcement, the CEO of Afrimat, Andries van Heerden, indicated that this exciting deal forms part of the Afrimat Group's ongoing diversification strategy. “It will increase Afrimat’s offering in the construction materials space, by expanding the group'... |
RHI Magnesita to acquire Resco Group11 April 2024, Published under Cement NewsRHI Magnesita has announced plans to acquire US-based Resco Group, a manufacturer of alumina and refractories. The deal is reported to be worth up to US$430m, says Reuters. According to RHI Magnesita, the move will accelerate its growth in alumina-based refractories and enable it to offer its US customer base an improved range of products. “The acquisition advances our 'local for local' production strategy and will shorten supply chains, improve our speed of reaction, and increase the se... |
Administrative changes at Fecto Cement and Fauji Cement11 April 2024, Published under Cement NewsFecto Cement Ltd's Company Secretary, Abdul Wahab, informed Pakistan Stock Exchange Ltd (PSX) on 8 April that Hanif Idress has been appointed as the Chief Financial Officer (CFO) of Fecto Cement Ltd in place of Abdul Samad with effect from 1 April 2024. The information is also meant for PSX TRE Certificate Holders accordingly. Meawnhile, on 8 April Fauji Cement Co Ltd (FCCL) informed the Pakistan Stock Exchange Ltd (PSX) that Lt Gen Anwar Ali Hyder, HI (M), (Retired) had been appointe... |
Refratechnik Asia joins WCA11 April 2024, Published under Cement NewsRefratechnik Asia has become an associate corporate member of the World Cement Association (WCA). Refratechnik Asia supplies high-quality refractory materials to the cement and lime industries in China, southeast Asia and Oceania. Operating across five sites and plants in China and Hong Kong, the firm manufactures approximately 120,000tpa of refractory materials. With more than 3000 cement kilns worldwide equipped with Refratechnik products, totalling 350,000tpa of material, the Refrat... |
Navigating sustainable trade10 April 2024, Published under Cement NewsICR interviews José Maria Magrina, CEO of Heidelberg Materials Trading, the world’s largest trader of cement and clinker. He discusses the company’s global operations, the growing trade in low-carbon materials, and the latest trends in the shipping sector. ICR: Your background is from the manufacturing side, rather than trade, with a long time spent in Egypt, before you took the position of CEO of Heidelberg Materials Trading. José Maria Magrina, CEO of Heidelberg Materials ... |
Electric kilns power revolution10 April 2024, Published under Cement NewsWith the global cement industry on the road to net zero cement production, new technologies for a decarbonised pyroprocessing line have been developed. These include electric kilns, which offer a fossil fuel-free alternative to the traditional kiln fired with carbon-rich fuels. Coolbrook explains the benefits of this new technology. By Dr Thomas Ouni, Coolbrook, Finland Coolbrook's RotoDynamic Heater has the potential of generating temperatures of up to 1700°C solely usin... |