Cement News tagged: Corporate
Ambuja and ACC cements gain GRIHA recognition
Ambuja Cements and ACC have achieved certification for their sustainable blended cement products and are now enlisted in GRIHA's Product Catalogue. According to the companies, this underscores their leading role in green cement production and commitment to achieving net zero emissions by 2050. GRIHA Council is an independent society developed for the promotion and adoption of sustainab...
National Cement secures finance facility
Kenya’s National Cement has secured a KES4.3bn (US$33.1m) facility from Stanbic Bank Kenya to finance a debt undertaken to construct a new clinker plant in West Pokot , reports The Star. According to the bank, the facility is designed to partially refinance National Cement’s foreign currency liabilities resulting from its recent expansion activities. “This transaction underscores our co...
Heidelberg Materials Hellas in partnership with Sympower
Greece-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 m...
Votorantim Cimentos opens new waste treatment unit in Itaperuçu
Brazil-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 ...
Fitch Ratings expects Taiwan Cement to maintain credit profile after earthquake
The 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 TWD20b...
CEMEX refinances credit agreement
CEMEX 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 ...
Competition Tribunal grants approval for Afrimat's acquisition of Lafarge South Africa
Afrimat 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 strateg...
RHI Magnesita to acquire Resco Group
RHI 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' pr...
Administrative changes at Fecto Cement and Fauji Cement
Fecto 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 th...
Refratechnik Asia joins WCA
Refratechnik 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 ceme...
China Tianrui Group Cement shares drop 99%
China Tianrui Group Cement Co Ltd shares fell 99 per cent to around HKD0.05 (US$0.006) on 9 April, pushing its market capitalisation to HKD141m. About 281m, a third of the company’s shares, changed hands during the sell-off. Of this total, more than 80m shares were traded in the last minutes of the closing auction. The Cayman Island-incorporated company said trading in its Hong Kong-listed sha...
Texas Lehigh Cement and Eagle Materials to launch slag cement facility
Heidelberg Materials North America has announced that its Texas Lehigh Cement Co LP subsidiary, a 50-50 joint venture with Eagle Materials Inc , will start production this summer at a new slag cement facility in Houston, Texas, USA. Construction of the new slag cement facility is nearlng completion and the new unit is expected to have a manufacturing capacity of approximately 0.5Mta. I...
SCG to develop biochar-infused cement
Siam Cement Group (SCG) is collaborating with Biochar Life, a pioneer in biochar technology for environmental sustainability, to develop biochar-infused cement and other sustainable building materials. The two companies have signed a Memorandum of Understanding (MoU) that targets four areas: innovative development, supply chain integration, research and sustainability, and smallholder impact...
Argos Honduras breaks clinker production record in 2023
Argos Honduras has set a new record in clinker production in 2023, increasing clinker output by three per cent. The company attributes the new record to the successful implementation of its US$1.1m hydrogen injection project. The process is carried out using renewable energy from its solar farm at the Piedras Azules plant in Comayagua, which enables the cement plant to replace up to 22 p...
City and Umm Al-Qura Cement agree to date extension of swap deal
City Cement Co last week announced an update at the Saudi Stock Exchange (Tadawul) regarding extending a non-binding Memorandum of Understanding (MoU) concerning a securities swap deal with Umm Al-Qura Cement Co. Accordingly, it has been agreed with Umm Al-Qura Cement Co to extend this memorandum with the same previous terms and conditions for an additional six months from the date of e...
West Pokot clinker plant finally launched
The much delayed KES45bn (US$346.6m) Devki Group West Pokot clinker plant was finally launched on Monday by Kenya's President William Ruth. The new plant will process up to 6000tpd of clinker or 2Mta, with clinker deliveries sent to finish grinding at Simba Cement’s Eldoret grinding plant, which is currently under construction. The West Pocket plant originally started construction in 201...