Cement News tagged: Corporate

Dangote Cement receives approval for share buyback

23 January 2020, Published under Cement News

Nigeria’s Dangote Cement has received shareholder approval to complete a share buyback scheme within 12 months. Under the plans, 1.7bn out of a total of 17.04bn ordinary shares will be repurchased.  Aliko Dangote, Dangote's chairman, has confirmed the scheme will be funded out of the profits of the company. He also noted that a number of shares under the programme are required to be cancell...

Attock Cement reports 41% growth in profit during 1HY19-20

23 January 2020, Published under Cement News

On 21 January 2020, Attock Cement Pakistan Ltd (ACPL) announced its 1HFY19-20 financial results (for the period ended 31 December 2019). According to a notification by Attock Cement to the Pakistan Stock Exchange (PSX), the company's consolidated profits after tax increased to PKR1.15bn (US$7.44m) during this period, from PKR816m earned in corresponding period of FY18. This translates an inc...

MPA makes management appointments

23 January 2020, Published under Cement News

As part of the Mineral Products Association (MPA)’s 10th year anniversary in 2019 and in support of its vision for 2025, the association has been strengthening its team and is pleased to announce the following appointments.   • Chris Leese, former vice president at Cemex UK, joins as Director of UK Concrete and Special Adviser Health & Safety. UK Concrete is a new campaigning vehicle that will...

LafargeHolcim Bangladesh Ltd targets becoming a complete building material solutions provider

22 January 2020, Published under Cement News

As LafargeHolcim Bangladesh has successfully completed its amalgamation with Holcim Cement (Bangladesh) Ltd last year, Rajesh Surana, CEO of LafargeHolcim Bangladesh Ltd, said the company is now working to transform the integrated company as a building material solutions provider from a cement company. "The integration of two most premium and globally-reputed companies has lots of synergies a...

Hoffmann Green meets targets and reaffirms future

Hoffmann Green meets targets and reaffirms future

23 January 2020, Published under Cement News

France-based Hoffmann Green has announced that it met its low-carbon cement production and sales target of 1000t during 2019, following the opening of its first production site in Vendée.   "These 1000t of low-carbon cement represent a first major milestone in our industrial and commercial development. This marks the beginning of a real paradigm shift in the construction sector for building to...

Dewan Cement of Pakistan to elect seven directors

22 January 2020, Published under Cement News

Dewan Cement Ltd (DCL) has informed Pakistan Stock Exchange (PSX) on 20 January about the election of seven directors of the company for a three-year period.   Company Secretary, Mohammad Hanif German, stated in a notification to PSX that the election will be carried out in the forthcoming Extra Ordinary General Meeting of the company, scheduled to be held on 27 January 2020.   The new direct...

Cemex UK agrees bulk distribution contract with Turners

Cemex UK agrees bulk distribution contract with Turners

21 January 2020, Published under Cement News

Cemex UK has agreed to see Turners operating 20 bulk tankers in the UK to help the cement producer better meet demand and add flexibility to its haulage operation. David Hart, Cemex's supply chain director for UK & France, commented: "We are always looking for ways to improve our logistics operation, and this partnership with Turners will create new flexibility in our service, thanks to their...

Jiangxi Wannianqing Cement projects profit increase for 2019

21 January 2020, Published under Cement News

China’s Jiangxi Wannianqing Cement has projected its net profit to rise from CNY1.1bn (US$160.26m) to between CNY1.28-1.5bn for 2019. The company has attributed the profit increase to the structural reforms of the cement industry and steady growth in demand for the region where it is based. This has resulted in the advancement of the company’s cement sales and product prices.

Baudouin Nizet appointed head of McInnis

21 January 2020, Published under Cement News

The Board of McInnis Cement has appointed Baudouin Nizet as president and CEO of McInnis Cement, succeeding Jean Moreau, who held the post in an interim capacity since 2018. Mr Nizet was senior vice-president at Stuart Olson Building Group but previously served as senior vice-president, Québec and Atlantic region at Holcim (Canada) in Montréal and in Toronto as president and CEO, spanning th...

FLSmidth reduces workforce by 500

23 January 2020, Published under Cement News

As part of business improvement initiatives announced at the end of last year, current industry caution and delays tied to large capital investments, Denmark-based FLSmidth is adjusting the number of its employees by approximately 500, said the company in a statement. It is expected that around 80 people from the Copenhagen headquarters will be dismissed along with around 420 staff in offic...

Semen Indonesia Group sees 29% rise in 2019 sales

23 January 2020, Published under Cement News

The total sales volumes of the Semen Indonesia Group, including Thang Long Cement Co (TLCC) and former Holcim subsidiary, PT Solusi Bangun Indonesia (SBI), increased 36 per cent in December 2019 to 3.93Mt from 2.891Mt (before the group’s acquisition of SBI and therefore, not included in the group’s consolidated numbers), according to a company statement. Semen Indonesia saw sales edge up 4.4...

Nuvoco Vistas is expected to acquire Emami Group

20 January 2020, Published under Cement News

Nuvoco Vistas, the cement division of Nuvoco Group, is pole position to capture Emami Group, according to the Economic Times. The bid from Nurvoco is expected to beat the bids of UltraTech Cement and Star Cement to gain control of Emami Group's 9Mta of cement production in India. Nuvoco currently operates 11Mta of cement capacity, having acquired LafargeHolcim's India assets in July 2016. B...

Fancesa to fall short of sales target

20 January 2020, Published under Cement News

Bolivia-based Fábrica Nacional de Cementos SA (Fancesa) will miss its sales and profits targets for the current financial year. The shortfall has been attributed to civic unrest and blockades following the elections that were cancelled due to fraud. “During the 2019 financial year, which closes on 31 March 2020, production was projected at 1,030,000t and the stop will obviously affect prod...

Cementos Progreso acquires Cemento Interoceánico

17 January 2020, Published under Cement News

Guatemala’s Cementos Progreso has acquired a 100 per cent stake in Cemento Interoceanico SA, a Panama-based producer. Fabrega, Molino & Mulino acted as a legal adviser to Cementos Progreso, while Morgan & Morgan represented Cemento Interoceanico, according to Market Line.

Cemenco completes plant upgrades worth US$14m

17 January 2020, Published under Cement News

Liberia's Cemenco (HeidelbergCement) has commissioned new upgrades worth US$14m at its grinding plant in Monrovia. Following the works, the company’s roller press can now produce 700,000tpa, representing a 30 per cent increase. A new silo with a capacity of 2000t and a bulk cement loading point has also been put into operation. Other additions include a shrink-wrap palletiser, a second baggin...

Refratechnik Group acquires QMAG

17 January 2020, Published under Cement News

The Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade ...