Cement News tagged: Corporate

Tourah Cement halts production due to oversupply

18 June 2019, Published under Cement News

Egyptian cement producer Tourah Cement, owned by Heidelberg Cement, has stopped production has suspended production as a result of oversupply in its domestic market. The company is considering liquidation. “Estimated cement consumption during 2019 will end at around 50Mt while total capacity of all competitors stands above 85Mt,” Tourah Managing Director, Jose Maria Magrina, said in a letter...

Dangote eyes US$700m in foreign exchange

18 June 2019, Published under Cement News

Dangote Cement Plc announced plans to attract US$700m in foreign exchange from cement exports to boost Nigeria’s economy, according to AllAfrica. While addresssing shareholders at the AGM in Lagos, he company’s Chairman, Aliko Dangote, said: We have a lot of on-going projects aimed at increasing capacity, and by next year, we will not only export one million tonnes as we normally do now, we ...

UltraTech Cement appoints Sujeet Jain as chief legal officer

18 June 2019, Published under Cement News

Sujeet Jain, group general counsel and company secretary of Viacom18, has joined UltraTech Cement as chief legal officer in Mumbai. A graduate of GLC Mumbai, he began his career at Thakkar and Thakkar Advocates before moving to Hutchison Telecom. In 2005 he joined People Group and three years later, Viacom 2008.

Cembureau elects new president and vice-president

17 June 2019, Published under Cement News

The European cement association, Cembureau, has appointed its new president and vice-president at its general assembly in Helsinki, Finland, on 14 June 2019. Raoul de Parisot, advisor to the chairman and CEO of Vicat, will take over as president from Gonçalo Salazar Leite, vice-president of SECIL. Isidoro Miranda Fernandez, CEO of LafargeHolcim Spain, is Cembureau’s new vice-president. Spea...

Grupo Argos interested in Summit Materials merger

Grupo Argos interested in Summit Materials merger

14 June 2019, Published under Cement News

Grupo Argos has approached US aggregates and cement producer Summit Materials Inc about a merger, according to people familiar with the matter. The deal would expand Grupo Argos’ footprint, but it remains uncertain whether Summit Materials would be prepared to negotiate a deal with Argos, said Reuters. The news saw shares of Summit increase by 14 per cent to US$15.51, resulting in a US$1.8...

CSN Cimentos plans new 3Mta plant in Brazil

14 June 2019, Published under Cement News

Brazil’s CSN Cimentos has announced plans to invest BRL1.5bn (US$387.84m) for a new 3Mta cement facility in Paraná. Eduardo Bekin, president of the Paraná State Development Agency, has confirmed that the company already has the authorisation to conduct economic viability studies and should confirm the plant by late August. The company considered constructing the plant in Sergipe State, where ...

Chinese plan 0.5Mta plant in Mozambique

Chinese plan 0.5Mta plant in Mozambique

14 June 2019, Published under Cement News

Chinese investors are behind a greenfield 0.5Mta cement plant to be built in Mozambique by 2021. The US$700m cement plant will be located in Muxúnguè, Chibabava district in the southern province of Sofala. Work will begin on the construction of Cimentos de Sofala's plant in 3Q19, reported daily newspaper Correiro da Menhã. Zheng Peng, a company representative, said the investors plan to suppl...

Baticim puts Batisoke stake of up to 75% for sale

14 June 2019, Published under Cement News

Baticim, part of the Turkey-based Bati Anadolu Group, is looking to sell a stake of up to 75 per cent in Batisoke, according to a Reuters report citing a source close to the process. Unlu & Co financial services group has been appointed to handle the sale, for which interested parties should complete due diligence for binding and non-binding offers in July to September. Batisoke is reporte...

Pioneer Cement backtracks on Galadari Cement acquisition

14 June 2019, Published under Cement News

Pioneer Cement Ltd (PCL) has withdrawn its interest to buy a local cement production facility that is under construction. Abid Wahab, company secretary of PCL in a written communication to Pakistan Stock Exchange (PSX) communicated that the Memorandum of Understanding (MoU) that signed with Galadari Cement (Gulf) Ltd (GCGL) in Oct 2017 to acquire later has been terminated. No reason was disc...

Loma Negra to close Barker plant

14 June 2019, Published under Cement News

Argentina’s Loma Negra has announced that it will close its facility in Barker, Buenos Aires. The news follows a month of negotiations with the Ministry of Labor and previously confirmed job losses . As of Thursday, 13 June the plant will operate a single shift with 24 employees, while the procedures for a final closure will begin simultaneously. Loma Negra’s parent company, Carmargo Correa...

Ecebol to start cement sales in August

13 June 2019, Published under Cement News

Bolivian state-owned producer Empresa Pública Productiva de Cementos de Bolivia (Ecebol) will start selling cement from its new Oruro works in August. According to the manager of the Development Service of Public Productive Enterprises (SEDEM), Patricia Ballivián, the current cost of the cement is the most expensive in the region and the company will serve to increase competition in the dome...

HeidelbergCement appoints new Head of Group Communication and Investor Relations

13 June 2019, Published under Cement News

HeidelbergCement has appointed Christoph Beumelburg as new Director Group Communication and Investor Relations. He reports to Dr Bernd Scheifele, chairman of the company’s managing board. He succeeds Andreas Schaller. “We are delighted to welcome Mr. Beumelburg to HeidelbergCement and are confident that he will successfully further develop the communication and investor relations activities o...

Tajik Cement plans new 1.2Mta plant

12 June 2019, Published under Cement News

Tajikistan’s Tajik Cement has signed an investment agreement for the construction and commissioning of a new 1.2Mta plant. The state-run producer is reportedly seeking US$100m in foreign direct investments for the project. The country produced 1.2Mt of cement in the Jan-Apr period of this year, rising 75,000t from the year-ago period.

Tanzania Portland Cement reports increased profits for 2018

12 June 2019, Published under Cement News

Tanzania Portland Cement (TPC PLC), also known as Twiga Cement, recorded a 28 per cent YoY increase in operating profit for 2018, rising to TZS80.06bn (US$34.8m) from TZS62.67bn. The growth in profit has been attributed to a 28 per cent increase in revenue and higher clinker production, despite that selling and administrative expenses were also up nine per cent YoY. "2018 was also critical t...

Dangote Cement clocks in with iris technology

11 June 2019, Published under Cement News

Dangote Cement is keeping an eye on staff arrival and attendance with an iris recognition system to keep tabs on its 30,000 employees located in five countries in Africa. Dangote's operations in Nigeria, Ethiopia, Senegal, Sierra Leone and Republic of Congo will use the iris-ID system. The software is contactless and simply uses the coloured part of the eye surrounding the pupil to ident...

UltraTech Cement receives approval for 6Mta plant project

12 June 2019, Published under Cement News

India’s UltraTech Cement has received environmental approval to set up a INR25bn (US$360.37m) project in Petnikota village, Andhra Pradesh. The integrated facility is expected to have a clinker capacity of 4Mta and 6Mta of cement. Alongside the cement works, the company also plans to install a 60MW captive power plant and 15MW waste heat recovery unit. It has already acquired 431.92ha of lan...