Cement News tagged: Corporate
LafargeHolcim’s fifth international design awards opens for entries
This week sees LafargeHolcim’s fifth international sustainable construction awards open for submissions. The awards, administered by the LafargeHolcim Foundation, will be accepting entrants until 21 March 2017. The competition’s main category is open to architects, planners, engineers, students of related disciplines, project owners, builders and construction firms that showcase sustainable...
India: UltraTech concludes Jaypee deal
UltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement opera...
Cyprus: Vassiliko Cement does not expect strategy change
Cyprus’s Vassiliko Cement Works Plc Ltd said HeidelbergCement AG is now in control of almost 26 per cent of the Cypriot cement company's voting rights after it acquired a controlling stake in two of its major shareholders. HeidelbergCement directly and indirectly owns 45.5 per cent of Italcementi, which in turn is the owner of of Compagnie Financière et de Participations and Italmed Cement ...
Pakistan: Pioneer approves new 7000tpd plant
Pioneer Cement (PIOC) informed Pakistan Stock Exchange (PSX) on 4 July that the company’s board of directors has approved a capacity expansion plan for a new 7000tpd cement plant. The present Chenki unit, Khusshab district, produces 2Mta of cement in the heart of Punjab province, 250km away from Lahore and 120km away from the M2 motorway. The board also directed company management to con...
Pakistan: Kohat Cement reappoints chief executive
Kohat Cement Company Ltd (KCCL) announced that it has re-appointed Aizaz Sheikh as chief executive and Nadeem Atta Sheikh as executive director for a term of three years commencing from 29 June 2016. The decision was made in the company's board meeting held on 2 July, in Lahore, says a notice sent to Pakistan Stock Exchange (PSX).
HeidelbergCement completes 45% shareholding in Italcementi
HeidelbergCement AG has completed the acquisition of a 45 per cent shareholding in Italcementi SpA from Italmobiliare SpA. All conditions for the closing of the transaction have been fulfilled following the approval by the relevant competition authorities. "Today’s closing is an important milestone in the history of HeidelbergCement," said Dr Bernd Scheifele, chairman of the Management Board,...
Vietnam: government to sell Vicem stakes
According to a local news source, the Ministry of Construction is set to divest its stakes in Vicem through an initial public offering in 4Q16. Cement producer Vicem currently control 34 per cent of the local market. At the end of last year the company announced on its website that the share sale would pare the state holding to a minimum of 51 per cent. Investors from Thailand and Indonesia...
Indonesia: SCG Indonesia's sales revenue up 18% YoY
SCG Indonesia, a subsidiary of the Thai cement conglomerate Siam Cement Group (SCG), saw its sales revenue increase 18 per cent YoY to IDR1.39trn (US$103m) in the first quarter, mainly from cement sales. SCG Thailand reported that revenue from SCG Indonesia's sales contributed 3.43 per cent of the company's profits in the first quarter, which was equivalent to US$3bn, according to a company s...
Deadline day reached for Lafarge India bids
Today (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirm...
India: Jaypee Group debts threaten cement unit sale
Creditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTec...
Pakistan: WHR for Askari Cement's Wah plant
Pakistani cement producer Askari Cement Ltd is planning to install a waste heat recovery (WHR) plant for its 3500tpd clinker line at its Wah works in Rawalpindi, Punjab.It is currently negotiating with leading international WHR suppliers. At present Askari Cement has two plants in operation: one is located in Wah and the other in Nizampur (Khyber Pakhtun Khwa), with a combined production ca...
Mongolia clinker line successfully carries out ignition
The 1Mta clinker line constructed by China Triumph International Engineering Co for China United Cement Co was ignited according to schedule on 10 June 2016. The step indicates that the project enters a stage of regular production despite challenge faced by the construction team. Extreme cold and blizzards hindered the building of the production line while labour shortages and restricted w...
LafargeHolcim appoints Alessandra Girolami as Head of Investor Relations
As of 1 September 2016, Alessandra Girolami will be LafargeHolcim's new Head of Investor Relations. She will report to Group CFO, Ron Wirahadiraksa, and succeeds Michel Gerber. She was previously employed by Carrefour Group as Head of Financial Communications and Investor Relations.
Cemex IPO values Philippines subsidiary at US$536m
Cemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering wa...
HeidelbergCement Georgia reports record sales
For the year 2015 HeidelbergCement Georgia experienced record sales, with 1.63Mt of cement and clinker sold. These sales figures were up 19 per cent on the previous year’s result. With this growth in sales the company holds a 60 per cent share in the Georgian cement market. Director of Construction Materials, David Jugashvili said, “The recent economic changes and devaluation of the nation...
Sagar Cements acquires grinding unit from Toshali Cements
Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the...