Cement News tagged: Corporate

GBL's Albert Frère dies at 92

06 December 2018, Published under Cement News

Belgian investor Albert Frère has died at the age of 92, according to his investment company Groupe Bruxelles Lambert (GBL). Mr Frère, who had a private fortune estimated at around EUR6bn, supported major mergers and acquisitions such as the merger of Lafarge and Holcim into LafargeHolcim in 2015. "For more than three decades, GBL has developed under his leadership into one of the largest ho...

LafargeHolcim Bangladesh amalgamates subsidiary

06 December 2018, Published under Cement News

LafargeHolcim Bangladesh Ltd (LHBL) informed Dhaka Stock Exchange on 2 December that the Board of Directors has decided to amalgamate of the company with its subsidiary Holcim Cement (Bangladesh) Ltd (HCBL). The amalgamation is subject to requisite approval of the banks and other creditors to the company, approval of the shareholders and finally, sanction of the Honourable High Court Divisio...

ACC to restructure existing debt

05 December 2018, Published under Cement News

Egypt’s Arabian Cement Co plans to restructure its existing US$23m and EGP499.3m outstanding debts due to one of the country’s banks, through a syndicated loan from the European Bank for Reconstruction and Development (EBRD) and the Commercial International Bank of Egypt (CIB). The package will support the company’s long-term strategy to improve the energy efficiency and cost-effectiveness o...

India Cements to acquire Springway Mining

05 December 2018, Published under Cement News

India Cements has entered into a share purchase agreement to acquire the entire shareholding of Springway Mining in a phased manner. On 3 December 2018 the company purchased the controlling stake of 51 per cent in the paid-up equity share capital of Springway Mining. The acquisition will support India Cements’ plans to set up a cement plant in Madhya Pradesh.

Hail Cement appoint new chairman and deputy chairman

Hail Cement appoint new chairman and deputy chairman

05 December 2018, Published under Cement News

Hail Cement Co's board of directors approved on 3 December the appointment of Ali Othman Al Zaid as the company's new chairman. Meanwhile, the Saudi Arabian cement producer has also appointed Qasem Saleh as the deputy chairman, the cement producer said in a bourse statement.

Raysut Cement to acquire stakes in Indian cement producers in 1Q19

04 December 2018, Published under Cement News

Raysut Cement of Oman plans to invest US$700m in the Indian cement market by 2022. The cement producer intends for approximately US$200m of this total to be invested in acquiring majority stakes in two Indian cement producers in 1Q19. The investment is part of the cement producer's plans to expand its overall production capacity to 20Mta, while the Muscat Securities Market-listed firm is al...

Unacem shareholders to discuss merger with Inversiones Andino

Unacem shareholders to discuss merger with Inversiones Andino

06 December 2018, Published under Cement News

Peru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto. The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed...

Metso acquires Kiln Flame Systems Ltd

04 December 2018, Published under Cement News

Metso has acquired UK-based combustion solutions and technology provider Kiln Flame Systems Ltd (KFS) to extend its pyroprocessing portfolio and capabilities. KFS specialises in rotary kiln and calcining processes, combustion optimisation and burner technologies with patented designs. It provides solutions to a wide range of industries including minerals processing. KFS has 14 employees based...

Votorantim appoints new global CEO

04 December 2018, Published under Cement News

Marcelo Castelli has been appointed Votorantim Cimentos' new global CEO starting on 1 February 2019. He succeeds Walter Dissinger, who led the company for more than five years and will take on new challenges. Mr Castelli is an executive with a career of over 31 years. In 1997 he started working at VCP (Votorantim Celulose e Papel), since then, he has held several executive positions and coor...

Qatar National Cement to produce white cement

04 December 2018, Published under Cement News

Qatar National Cement Co (QNCC) has announced it will produce white cement following its acquisition of the necessary licences for the product. QNCC white cement will be available in 50kg bags priced at QAR25 (US$6.87) and in bulk, at a price of QAR500/t.

François Petry new director of LafargeHolcim Belgium & France

04 December 2018, Published under Cement News

François Petry was appointed by LafargeHolcim as the new director for France and Belgium, succeeding Bénédicte de Bonnechose. Mr Petry joined Holcim France in 2008, when he was appointed general manager of the company’s aggregates business. In 2013 he left to head Holcim Group’s subsidiary in Romania and this was followed by a position in the UK where he served as general manager of Aggregat...

Holcim Philippines to raise capacity to 13Mta by 2020

06 December 2018, Published under Cement News

Holcim Philippines (LafargeHolcim group) is investing US$300m to raise its cement capacity in the country by 30 per cent to 13Mta by 2020. Holcim Philippines informed the Philippine stock exchange that will upgrade its facilities in Bulacan and Misamis Oriental with the installation of new and efficient kilns and mills and waste heat recovery systems as part of its cost focus. "Our company ...

Semen Indonesia mandates 5 banks for US$1.3bn bridge loan

03 December 2018, Published under Cement News

Semen Indonesia has mandated five banks for a US$1.282bn bridge loan to support its acquisition of the local unit of LafargeHolcim. BNP Paribas, Deutsche Bank’s Singapore branch, Maybank, MUFG Bank and Standard Chartered are the lead arrangers and bookrunners for the two-year loan, which will be launched into syndication in 2-3 weeks, according to a company announcement. The borrower agree...

Huaxin Cement seeks funding for US$140m project

03 December 2018, Published under Cement News

Huaxin Cement Co Ltd is seeking the assistance of international banks to close funding on its US$140m plant in Nepal, after it secured a US$30m loan from the Export-Import Bank of China (EIBC), according to Inside International Industrials. Nanjing Golden Cement Technology Engineering Co has been confirmed as the project design firm. The design of the 3500tpd facility is expected to be compl...

Emami Cement improves power supply

03 December 2018, Published under Cement News

Emami Cement Ltd at Kalinga Nagar Industrial Area in the Indian state of Odisha has improved its power supply following its connection to the inter-state 400/220kV New Duburi grid of Odisha Power Transmission Corp Ltd. Emami was permitted to receive 15MVA power in 132kV from the power transmission company. However, taking its future expansion into account, the cement producer applied for 1...

Illinois Cement Co one step closer to new limestone quarry

06 December 2018, Published under Cement News

La Salle City Council, Illinois, USA, will consider petitions by Illinois Cement Co for rezoning and special use permits to mine limestone on 12 parcels in Dimmick Township following a recommendation by La Salle Planning Commission. The cement producer wants to close its quarry and begin mining new land in the one-square section, moving west for 10-20 years and then north for another 20 yea...