Cement News tagged: Corporate

Schwenk Zement acquires 100% shares of Celitement GmbH

15 April 2020, Published under Cement News

Schwenk Zement KG has taken over all shares of the previous fellow shareholders (including the Karlsruhe Institute of Technology) in Celitement GmbH and this has been backdated to 1 January 2020. From having been a Schwenk-affiliated company, Celitement GmbH became a full subsidiary of the well-established building materials group from Ulm.

 Celitement GmbH was founded in February 2009 and...

Pakistan's goverment to recover foreign loan funds from Galadari Cement

14 April 2020, Published under Cement News

Pakistan's government on 8 April decided to recover a foreign funding loan from a local cement plant that has been under construction for a long time in Balochistan province. According to a government statement, Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, on the summary moved by the Economic Affairs Division (EAD) for the recovery of foreign currency loans f...

Société de Ciment de Bizerte halts cement sales

14 April 2020, Published under Cement News

Tunisia’s Société de Ciments de Bizerte announced a temporary stop to cement sales until 19 April. The company said it had not seen a single case of coronavirus in its employees but would halt sales as a precaution. Government-owned Société de Ciment de Bizerte operates a 1.5Mta plant on the northern Tunisian coast.

Shah Cement distributes food items to construction workers and families

14 April 2020, Published under Cement News

Shah Cement Industries Ltd of Bangladesh has taken an initiative to provide food items and handwash to construction workers and their families considering that many workers have become jobless during the coronavirus situation, says a press release. The cement company had selected 80 points across the country to distribute the items and since 30 March, a total of 10,000 construction workers ha...

Cemex asks employees to defer 10% of salary

Cemex asks employees to defer 10% of salary

10 April 2020, Published under Cement News

Cemex has asked employees to voluntarily defer payment of 10 per cent of their salaries for three months, according to Reuters. Members of its senior management team have also been requested to give up 15 per cent of their pay for the period starting 1 May. The chairman of the board, CEO and other top executives have already agreed to give up 25 per cent of their salaries and fees over 90 d...

Eagle Cement donates food packs to Bulacan residents

10 April 2020, Published under Cement News

Philippines-based Eagle Cement has donated food packs to the residents of Bulacan, amidst the quarantine period in place due to the COVID-19 pandemic. With the assistance of the armed forces, volunteers and the local government of San Ildefonso, the company distributed thousands of food packs containing rice and canned goods to 20 barangays in San Ildefonso and Dona Remedios Trinidad. Ap...

Dalmia Cement Bharat announces COVID-19 relief plans

Dalmia Cement Bharat announces COVID-19 relief plans

09 April 2020, Published under Cement News

India’s Dalmia Cement Bharat has contributed INR20m (US$262,742) to the Odisha relief fund to help support the state’s response to the COVID-19 pandemic. Elsewhere, the company has distributed dry food packets to over 900 families in villages near Biswali, Odisha. Seven days of grocery shopping has been supplied to 650 families in and around Rajgangpur, while the company has also provided a...

Moody's changes Boral's outlook to negative

08 April 2020, Published under Cement News

Moody’s Investor Service has changed its outlook on Australia’s Boral Ltd from stable to negative, while also affirming its Baa2 issue rating. "The change in outlook to negative reflects Moody’s expectation for weak earnings given a significant pull back in housing starts in both the US and Australia. In addition, Moody’s expects certain non-residential construction projects to be delayed o...

Shiva Cement scales down cement production in India

08 April 2020, Published under Cement News

India-based Shiva Cement Ltd has informed the Bombay Stock Exchange on 6 April that in the wake of the COVID-19 outbreak across the world, including India, the company has been taking various precautionary measures to ensure the safety and health of the employees and their families, at its offices and manufacturing location in Orissa, eastern coast of India. However, the company has scaled do...

Cemex resumes operations in Mexico

07 April 2020, Published under Cement News

Cemex is resuming its building material operations in Mexico in line with the technical guidelines published in the official Mexican gazette to support the development of the economy during the COVID-19 pandemic. Cemex will comply with all measures indicated by the Ministry of Health to operate in a safe and responsible environment. The health and safety of employees, contractors, suppliers, ...

Gulf Cement to delist from Boursa Kuwait

07 April 2020, Published under Cement News

At its ordinary general meeting, Gulf Cement Co has approved the board’s proposal to delist from Boursa Kuwait. In addition, the company will not to distribute dividends for 2019 due to the current circumstances, changes in international economics, and continuous competition in local and foreign markets, according to Mubasher. The company also reported that Kuwait’s cement sector has inc...

Siam Cement to buy Vietnamese packaging company

08 April 2020, Published under Cement News

Siam Cement is to acquire a Vietnamese packaging materials maker, Bien Hoa Packaging. The group will purchase Bien Hoa Packaging through a joint venture with top Japanese cardboard maker Rengo. Siam Cement said the size of the deal has yet to be determined, but estimated it would be less than 15 per cent of the Thai group's total assets as of the end of December, which came to THB634.7bn (US...

Pakistan announces the much-anticipated construction package

07 April 2020, Published under Cement News

Pakistan's Prime Minister, Imran Khan, last week announced the much-awaited Construction Package, which is mainly comprised of tax incentives for the construction industry. The sector has now been given the status of an industry. Economists and research houses called the package a boost for the construction and cement industries with little reservation and pointed out that while it looks ve...

Indian Saurashtra Cement resumes cement production in Gujarat

06 April 2020, Published under Cement News

As the impact of COVID-19 appears to be subsiding in India, the domestic cement industry is planning to resume cement production with the state government's permission under all possible precaution measures. Saurashtra Cement has informed Bombay Stock Exchange Ltd on 5 April that the company has received permission from the state government of Gujarat in accordance with the guidelines of the c...

Holcim Philippines closes Davao cement plant

08 April 2020, Published under Cement News

The Philippines' leading cement-maker Holcim Philippines has suspended the operation of its manufacturing plant in Davao as the city was locked down until 19 April to contain the COVID-19 pandemic. The suspension of operations in Davao is in compliance with Mayor Sara Duterte's order to impose an enhanced community quarantine (ECQ) within Davao City starting 4 April. "While our Lugait plant ...

Dangote Cement looks to raise NGN100bn from bonds

06 April 2020, Published under Cement News

Nigeria’s Dangote Cement is seeking to raise up to NGN100bn (US$257.23m) from the bond market, under its NGN300bn debt issuance programme. The funds from the company’s first offering in the bond market would be used to refinance existing short-term debt used for cement expansion projects, working capital and other corporate purposes, according to This Day.