Cement News tagged: Corporate

RHI Magnesita set for Indian consolidation

18 September 2019, Published under Cement News

RHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times. The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of con...

DG Khan Cement profit falls in FY19

17 September 2019, Published under Cement News

DG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn a...

Fancesa’s new plant 85% complete

17 September 2019, Published under Cement News

The construction of the new cement plant of Fábrica Nacional de Cemento Sucre SA (Fancesa) in Cal Orck’o, Bolivia, is 85 per cent complete, according to the company’s President, Armin Cortez. "The new production line of the National Cement Factory Sucre, to date is at 85 per cent of physical execution and 81 per cent of financial execution, and it was possible to meet the goals planned within...

Lucky Cement updates progress on overseas and local projects

16 September 2019, Published under Cement News

Lucky Cement is currently implementing two cement projects:  the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place ...

Asian Fine Cements launches new packaging

Asian Fine Cements launches new packaging

16 September 2019, Published under Cement News

India’s Asian Fine Cements Pvt Ltd has introduced the country’s first vacuum-tight packaging to the market for its Duraton7X cement. The packaging is expected to reduce water seepage and dust emissions, alongside increasing shelf-life. "We set up a big cement manufacturing facility at Rajpura in Punjab about one-and-a-half years ago with installed capacity of 1.5Mta. As of now we have launch...

Oman Cement Co appoints consultancy for Duqm plant

16 September 2019, Published under Cement News

Oman Cement Co has appointed “a leading consultant company” to work on its upcoming Duqm cement plant as a project consultant, reports New Vision. While it did not name the consultancy, it confirmed that its Duqm integrated plant would have a capacity of 5000tpd. The project, which was approved by the company’s board of directors in December 2018, represents an investment of around US$212m.

Cemex invests in building materials delivery start-up

Cemex invests in building materials delivery start-up

16 September 2019, Published under Cement News

Cemex Ventures, the venture capital business of Cemex, has announced it has invested in GoFor Industries, a logistics marketplace for on-demand delivery of building materials and equipment for the DIY and construction industries. GoFor Industries is a start-up company founded in 2016 with operations in the USA and Canada. By 2020 GoFor is expected to expand to 20 major market areas in the US...

Cherat Cement becomes sixth-largest producer in Pakistan

13 September 2019, Published under Cement News

Cherat Cement Co Ltd (CHCC) has become the sixth-largest cement producer with eight per cent market share in Pakistan following the successful installation and commissioning of Cement Line III at the Lakrai plant, Nowshera district, Khyber Pakhtunkhwa. The new line has a clinker capacity of  more than 6700tpd and features a waste heat recovery plant.   With this expansion, the company has in...

Alexandria Portland Cement sells plot of land

13 September 2019, Published under Cement News

Egypt’s Alexandria Portland Cement has sold an unexploited plot of land in Ad Dakhilah, according to a statement to the stock exchange. Situated on 15,852m 2 , the plot was sold for a consideration of EGP31.7m (US$1.9m). The company saw its losses widen 29.5 per cent YoY to EGP168.99m during the first half of 2019.

Dalmia Cement reportedly considers acquiring Emami Cement assets

12 September 2019, Published under Cement News

India’s Dalmia Cement (Bharat) has reportedly submitted an expression of interest in acquiring the cement assets of Emami Group, which have been valued at INR60bn (US$841.9m), according to The Economic Times. "Dalmia Bharat is currently studying the financials provided by the bankers of Emami Cement. The strategy will be decided once we conclude our assessment and firm up our intent to proce...

West Pokot cement plant faces further construction delays

12 September 2019, Published under Cement News

Simba Cement has come up against logistical difficulties in the construction of its West Pokot cement plant in Kenya. The project has been in planning for a decade and Simba Cement (National Cement - Devki Group) took over the project when it acquired the Indian company Cemtech Ltd earlier this year. The completion of the factory in Ortum is expected to be delayed by one year and Simba Cement...

Oficemen names Víctor García Brosa as new president

12 September 2019, Published under Cement News

Spain’s cement association, Oficemen, has appointed Víctor García Brosa as its new president. Mr García Brosa is currently deputy general director of Cementos Portland’s managing board. A chemical engineer by training, he entered the cement industry in 2005, when he took up a post in Portland Valderrivas’ strategic planning unit. In 2015 he was appointed director general of the FCC subsidiary....

Premiere-Slag International to receive investment for plant project

11 September 2019, Published under Cement News

Philippine-based AbaCore Capital Holdings Inc has announced a plan to invest up to PHP102m (US$1.9m) in Premiere-Slag International Inc to build and operate a cement plant. In a disclosure on Monday, the holding company said the investment translated to a maximum of a 10 per cent stake in Premiere-Slag, which "will operate a production facility to process and sell cement, or cement mixed with...

LafargeHolcim Bangladesh meets top brass of State of Meghalaya

11 September 2019, Published under Cement News

LafargeHolcim Bangladesh held talks over the continued cross-border transfer of limestone between the state of Meghalaya in India and Chhatak in Banglaesh. The meeting was arranged on the sidelines of LafargeHolcim Bangladesh's Board of Directors meeting held recently in Shillong, Meghalaya. The company brings in limestone from its own mines in Meghalaya to produce clinker and cement a...

RAK Cement cancels cement plant acquisition plans

11 September 2019, Published under Cement News

UAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pu...

Hsing Ta Cement records 22% revenue increase for August

10 September 2019, Published under Cement News

Taiwan’s Hsing Ta Cement has seen a 21.6 per cent YoY increase in revenue to TWD727.86m (US$23.3m) for August 2019, compared with TWD598.65m in the year-ago period. In the first eight months of the year, the company recorded a 21.7 per cent YoY advance in revenue to TWD4.89bn from TWD4.02bn.