Cement News tagged: Corporate
Pakistan: Environment agency orders two plant closures
Pakistan’s Environmental Protection Agency (EPA) has ordered two cement plants to close for filing to install measures to control dust emissions, according to reports in the local press. The plants affected belong to Dewan Cement and Kohat Cement. A spokesperson for the EPA said that both companies had been told to act to curb dust pollution but not done so to date. Dewan Cement’s Hattar p...
Nepal: Hongshi-Shivam plant faces possible delays
Hongshi-Shivam Cement’s plans to build a 2Mta cement plant in Nawalparasi in southern Nepal have run into problems over the amount of land needed for the project, Xinhua reports. Under Nepali law, government ministers must approve land sales above eight hectares, while Hongshi-Shivam has said it requires 40ha to build the plant. A director at Hongshi-Shivam, Satish More, said: "The Land Ref...
Azerbaijan: EBRD 20% LafargeHolcim investment
The European Bank for Reconstruction and Development (EBRD) is considering the purchase of up to a 20 per cent stake in LafargeHolcim’s cement and clinker plant in Azerbaijan. If it decides to invest, EBRD will support LafargeHolcim in improving energy efficiency through the introduction of alternative fuels. EBRD previously supported the company’s Azerbaijani plant with a EUR170m structured c...
India: Shree Cement completes Aurangabad grinding unit upgrade
Shree Cement has announced the completion of the upgrade works to its Aurangabad grinding plant in Bihar, Business Standard reports. Capacity at the plan rose from 2Mta to 3.6Mta, effective from 22 June 2016. Shree’s shares rose by three per cent after it made the news public. Shree Cement is in the process of expanding clinker production at its Raipur works with that upgrade expected to be...
India: Kanodia Group launches BIFCEM brand
Kanodia group launched its new ‘BIGCEM’ cement brand initially targeting the markets of Uttarakhand and Western Uttar Pradesh. The company wishes to expand to Delhi and NCR in its coming expansion programme followed by Bihar in August 2016 The BIGCEm brand was revealed in the presence of Vishal Kanodia, managing director, Gautam Kanodia, director and Manoj Kamboj, CEO of Kanodia Group. Mr...
Adelaide Brighton sees potential in US$2bn acquisition
Adelaide Brighton Group says it has carried out detailed work on a potential US$2bn acquisition of the Australia and New Zealand operations of LafargeHolcim, including a plan to address competition issues. Martin Brydon, Adelaide Brighton's chief executive, confirmed that Adelaide Brighton had been working with its longstanding takeover defence adviser Credit Suisse and Blackpeak Capital....
Italmobilaire to acqure non-core assets
HeidelbergCement AG and Italcementi SpA have made an amendment to HeidelbergCement's acquisition of the entire participation held by Italmobiliare in Italcementi SpA. The new procedure will allow the parties to proceed with the closing of the transaction on 1 July 2016. Before the closing date, Italmobiliare will now acquire the “non-core assets” ie those participations currently held by It...
Algeria: GICA subsidiary starts work on Bechar plant
Work has begun on a new cement plat for Saoura-Ciment company, a GICA subsidiary. Situated 965km south of Algiers, the greenfield Bechar cement plant will cost DZD34bn to build and will have a cement capacity of 1Mta. This plant, which will be commissioned in 2019, will allow the strengthening of national production to raise it to 23Mta, said officials from the Public Industrial Group of C...
India: Jaypee Group still needs to reduce its debt level
For the promoters of Jaypee group, the aggressive expansion during the last decade has cost them dearly. The Delhi-based group had to sell profitable assets to remain afloat even as banks, alarmed by its defaults, are pressurising the group to put more assets on the block, writes the Business Standard. A senior banker with Mumbai-based public sector lender said the intent of Jaypee group to ...
USA: clearance for Italcementi acquisition
On 17 June 2016, the United States Federal Trade Commission reached an agreement with HeidelbergCement AG and Italcementi SpA allowing the merger between the two companies to proceed on schedule. The Federal Trade Commission accepted the proposed divestment of operations in the US, which primarily consists of Italcementi’s Martinsburg, West Virginia plant and up to 11 terminals. All competi...
Philippines: Cemex Holdings Philippines IPO will raise US$526m
Cemex Holdings Philippines (CHP), a subsidiary of Cemex, will on Tuesday launch an initial public offering to raise up to US$526m, reports Reuters. The offering would mark the Southeast Asian nation's second and biggest IPO so far this yea r. Cemex Holdings Philippines has secured US$125m from seven cornerstone investors for the IPO, IFR said. Cemex aims to invest US$300m to open additional...
New 1.8Mta cement plant for Cambodia
Battambang Conch Cement Co, a joint venture between Hong Kong-based Conch International Holding and local firm Battambang KT Cement Co, is expected to break ground next month in Rattanak Mondul district. The US$230m cement plant project is due for commissioning in December 2017 and bring an extra 1.8Mta of cement production capacity online in northwestern Cambodia. The company has applied f...
Germany: HeidelbergCement applies for new Vohenbronnen quarry permit
HeidelbergCement has applied for a new, long-term mining permit for the Vohenbronnen quarry. The current authorisation expires in 2020, the company announced. The Schelklingen cement plant extracts raw materials from the Vohenbronnen quarry, which is located just 3km away, situated in the districts of Schelklingen, Schmiechen, Pappelau and Ringingen. The raw material is then transported on a...
Thailand: Asia Cement wants mine issue resolved
Asia Cement Plc has set up talks with the Industry Ministry to try to resolve its revoked licence to operate a limestone mine, reports the Bangkok Post. Asia Cement was granted a licence to operate a limestone mine in Nakhon Si Thammarat province in 1997, expecting the mine would help increase its cement production to meet rising demand in the south. However, in 2015, the Ministry of Na...
Vietnam Construction Material Co launches Dong Nai plant
Vietnam Construction Material Company (VCM) has inaugurated a new cement plant in the northern province of Dong Nai, reports Vietnam News Brief. VCM also has a clinker production plant in Van Hoa commune in Tuyen Hoa district in the central province of Quang Binh, with a capacity of 5000tpd and five cement grinding stations in the southern region. VCM currently sell over 200,000t of clinke...
Market analysts upgrade outlook for Cemex shares
Cemex SAB de CV was upgraded by analysts at Scotiabank from a "sector perform" rating to an "outperform" rating in a note issued to investors on Thursday, The Fly reports. However, shares of Cemex SAB de CV traded down 2.12 per cent during trading on Thursday, hitting US$6.01. The stock had a trading volume of 1,815,899 shares. Cemex has a 52-week low of US$3.50 and a 52-week high of US$9.4...