Cement News tagged: Corporate

Hoffmann Green launches IPO

02 October 2019, Published under Cement News

Hoffmann Green Cement Technologies (HGCT) is launching its initial public offering (IPO) 2 October. The company plans to raise around EUR50m on the Euronext Growth market. HGCT’s cement production process reduces CO 2 emissions by 80 per cent due to a modification of the composition of the cement that eliminates the need for clinker, according to the company. The France-based cement produ...

Illinois Cement prepares to expand quarry operations

03 October 2019, Published under Cement News

Illinois Cement (Eagle Materials Inc) will soon start work on a new road to bypass an area a quarter of a mile west of its current quarry location on East Third Road in La Salle, USA, where it intends to start blasting a new quarry. After five public meetings in a month at the end of last year, Illinois Cement was granted its requests by the city of La Salle for annexation, special use permit...

Ohorongo Cement plans to reduce bulk road transport

02 October 2019, Published under Cement News

Namibia-based Ohorongo Cement has extended its partnership with Transnamib to reduce its use of road transport in the moving of bulk materials around the country.  Transnamib has seen the construction of a multi-faceted private siding with two independent sections designed for in- and outbound shipments at Ohorongo Cement’s plant near Otavi. Ohorongo Cement and Transnamib entered into a ...

Lafarge Zambia Plc had to raise prices to stay afloat

02 October 2019, Published under Cement News

Lafarge Zambia's CEO, Jimmy Khan, has spoken out about the crippling overcapacity in Zambia's cement market. Mr Khan said Zambia's cement consumption stands at around 2.2Mt compared to a production of about 5Mt. Mr Khan told President Lungu at State House in Lusaka yesterday that his company recently hiked cement price by 25 per cent to stay in business. Mr Khan said his firm made losses of a...

Kant modernises packing department

Kant modernises packing department

01 October 2019, Published under Cement News

Kant Cement plant in the Chui region, Kyrgyz Republic, has modernised the packing department. The company installed a Turbo K8 filling machine from Russia-based Vselug for more accurate and convenient packing of cement. German BERG compressors to clean sleeves also entered service. Kant aims to ship at least 60 per cent of its products in 25kg and 50kg bags. The new equipment will enable the...

Kohat and Fecto Cement report fall in profit

01 October 2019, Published under Cement News

Kohat Cement and Fecto Cement have announced their financial results for the year ended 30 June 2019. Both companies' profits declined, mainly due to  increase in cost of sale and other factors. Kohat Cement Co Ltd (KOHC) declared a net profit of PKR2.4bn (US$15.27m), down by 17.2 per cent YoY, as compared to PKR2.9bn reported in the same period last year. However, sales increased by 16.5 pe...

UltraTech Cement outlines Century 'Scheme of Arrangement'

UltraTech Cement outlines Century 'Scheme of Arrangement'

01 October 2019, Published under Cement News

UltraTech Cement's Board of Directors has declared the Scheme of Arrangement between Century Textiles and Industries Ltd (Century), the company and their respective shareholders and creditors (the Scheme) to be effective from 1 October 2019. For the scheme, the company will issue one equity share of face value INR10 (US$0.14) each for every eight equity shares of face value INR10/each held by...

Raysut Cement signs Duqm plant deals

30 September 2019, Published under Cement News

Omani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our pres...

International Cement cancels US$144m deal to buy Schwenk Namibia

30 September 2019, Published under Cement News

International Cement Group (ICG) has cancelled its proposed  US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The e...

Belarusian Cement Co launches 15kg bags

30 September 2019, Published under Cement News

Belarusian Cement Co has introduced cement bags of 15kg. The new packaging option extends the product’s line, which previously was only available in 25kg bags.

Lehigh Hanson set to acquire Giant Cement's Keystone plant

27 September 2019, Published under Cement News

HeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisati...

ARM subsidiary is sold to Huaxin Cement

27 September 2019, Published under Cement News

Maweni Limestone Ltd, the Tanzanian subsidiary of ARM, has been sold to Huaxin Cement of China for US$116m. The acquisition is subject to regulatory approvals. "This transaction will permit Huaxin immediate entry into one of the leading markets in east Africa and is integral to Huaxin's broader strategy to expand its footprint across emerging markets," joint ARM administrators George Weru a...

Arabian Cement's Rabigh plant to begin operations in 2Q20

27 September 2019, Published under Cement News

Construction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the dela...

Hamma Bouziane achieves 95% production target

27 September 2019, Published under Cement News

GICA-owned Société des Ciments de Hamma Bouziane (SCHB) in Constantine, Algeria, has achieved “up to 95 per cent of its production target” for 2019. "The SCHB has not registered a decline in its activities and its production objectives are met 95 per cent and any delay recorded due to maintenance periods is caught up," said the SCHB President and CEO, Mustapha Kebbous.

Thatta Cement announces new chairman

27 September 2019, Published under Cement News

Pakistan’s Thatta Cement Co Ltd has announced that a new chairman has been appointed. Naheed Memon will succeed Khawaja Muhammad Salman Younis in the role, with effect from 23 September 2019. Elsewhere, the company recently announced a 40 per cent profit decline in the FY19 .

HeidelbergCement Trading appoints new COO

27 September 2019, Published under Cement News

Gulgun Dokuz, currently general director of trading, Asia-Pacific region, has been appointed as chief operations officer (COO) of HeidelbergCement Trading (HCT). Gulgun Dokuz is appointed as the new COO of HeidelbergCement Trading In her new role, effective as of 1 October 2019, Gulgun Dokuz will be responsible for the operational leadership for all trading and shipping activ...