Cement News tagged: Corporate
Sagar Cements announces new investments in plant projects
Sagar Cements has approved significant investment in both Satguru Cements and Jajpur Cements, which will enable the company to expand its presence in central and eastern India. "The board has approved a proposal to invest a sum of INR1.5bn (US$21.1m) in Satguru Cement Pvt Ltd (SCPL), Indore, to set-up a greenfield cement manufacturing plant of 1Mta capacity along with a waste heat recovery ...
Mbeya Cement opens Building Materials Academy
Mbeya Cement (LafargeHolcim group) has opened its Building Materials Academy in Dar es Salaam, Tanzania to improve the client understanding of the use of the company's products in the construction sector. Isle Boshof, Mbeya Cement's Chief Executive said: "The state-of-ther-art centre is a good avenue for stakeholders to learn about their wide-range of products." The centre will bring toget...
Long Son plant to enter second phase of expansion
The Vietnamese Prime Minister has issued guidelines on investment for the expansion of Long Son cement plant, Thanh Hoa, and has agreed to action the second phase with two additional production lines. Each line will add 2.3Mta of cement capacity and is expected to supply the construction of coastal and inland projects, in accordance with the country’s cement development plan for 2011-20. Lin...
GBL's Albert Frère dies at 92
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
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
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
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 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
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
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
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
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
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
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
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
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...