Cement News tagged: Corporate

Nassef Sawiris reduces stake in LafargeHolcim

10 January 2019, Published under Cement News

One of LafargeHolcim’s biggest shareholders, Nassef Sawiris, reduced his stake in the company by nearly 1.6m shares in December 2018. The shares had a value of over CHF66m (US$67.5m), according to a report by Handelszeitung. Mr Sawiris now holds just under 21m shares in the company, representing just over three per cent. He was once the third-largest shareholder behind Thomas Schmidheiny and...

BBMG to sell 7 cement companies to Jidong Cement

10 January 2019, Published under Cement News

BBMG Corp has announced that it will sell the entire equity interests in seven cement companies to China’s Jidong Cement for a total consideration of CNY1.54bn (US$227.06m). BBMG and Jidong have also agreed to contribute CNY1bn to the registered capital of their joint venture, BBMG Jidong Cement (Tangshan) Co Ltd. According to a statement, the agreements are to resolve issues of competition b...

FLSmidth sells bulk material handling business

10 January 2019, Published under Cement News

FLSmidth has reached an agreement to sell its bulk material handling business to Rainbow Heavy Machineries. The transaction has been structured as a sale of certain assets. As a result of the transaction, FLSmidth will exit the non-mining bulk material handling business.                                          The main part of FLSmidth's non-mining related bulk material handling business is ...

FLSmidth wins equipment order in Paraguay

09 January 2019, Published under Cement News

FLSmidth has won a contract worth over DKK350m (US$53.59m) to deliver equipment for a greenfield cement plant in Paraguay.   The facility will have a capacity of 2500tpd and mainly supply cement to its local market. The contract involves designing and engineering the production line, alongside the delivery of energy-efficient equipment for the entire line, from crushing to packing. Meanwhile, ...

Chhatak Cement plans modernisation project

Chhatak Cement plans modernisation project

09 January 2019, Published under Cement News

Bangladesh's Chhatak Cement Co Ltd has announced plans to modernise its facility and convert it from wet process to dry process. The company has begun to prepare a development project proposal, with a schedule to implement the upgrades by 2021. According to company officials, Chhatak Cement has incurred an accumulated loss of over BDT3.63bn (US$43.25m) between FY13-14 and FY17-18 mainly due ...

Udayapur Cement's general manager moves to oil sector

09 January 2019, Published under Cement News

Surendra Prasad Paudel, resigned his post of general manager of Udayapur Cement on Monday to become the head of the government's Nepal Oil Corporation (NOC), the country's sole petroleum supplier. Mr Paudel had become Udayapur Cement's general manager in February 2018 and the state-owned cement factory earned a profit of NPR250m (US$2.2m) in the last fiscal year. Apart from increasing the pro...

Tabuk Cement appoints new general manager

Tabuk Cement appoints new general manager

09 January 2019, Published under Cement News

Saudi cement producer Tabuk Cement has appointed a new general manager as of 6 January 2019. Ali Al-Qahtani will succeed Ali Mohmiha Al Asmari, according to a statement to the Tadawul, the Saudi stock exchange. In January-September 2018, the company reported net losses of SAR66.49m, compared with January-September 2017 when net losses reached SAR2.23m.

Thatta Cement Co director resigns

09 January 2019, Published under Cement News

Thatta Cement Co Ltd has informed the Pakistani stock exchange that Shahzad Sabir resigned as Director from the Board of Directors with effect from 7 January 2019.

VICEM targets further growth in 2019

10 January 2019, Published under Cement News

Vietnam Cement industry Corp (VICEM) has reported a 10 per cent YoY increase in revenue to VND37trn (US$1.59bn) for 2018. The company also saw an 11 per cent rise in pretax profit to VND2.8trn. VICEM expects to push this even further by reaching a revenue of VND40trn in 2019. According to Bùi Hồng Minh, general director of VICEM, pretax profit is expected to hit VND3.2trn in the year ahead. ...

Star Cement announces plant expansion

08 January 2019, Published under Cement News

India’s Star Cement has announced a brownfield expansion at its grinding unit in Jalpaiguri district, West Bengal. Already the largest manufacturer in the northeast of the country, this project will expand the plant’s capacity from 1.6Mta to 2Mta. Once the company receives environmental clearance, work on the INR4.43bn (US$63.26m) plans is expected to begin by June 2019.

Iraqi Cement signs contract for new 6000tpd line

10 January 2019, Published under Cement News

Chengdu Design & Research Institute of Building Materials Industry, wholly-owned subsidiary of Sinoma International Engineering, has signed an EPC contract to deliver a clinker production line for Iraqi Cement. The new line will be constructed in Samawah in Iraq's southern Al Muthanna province at an estimated cost of US$246m. The agreement will see the company take charge of mine design, su...

Semen Baturaja records 24% sales increase

07 January 2019, Published under Cement News

Indonesia’s PT Semen Baturaja (SMBR) has recorded a 24 per cent YoY increase in sales to 2.17Mt in 2018, compared to 1.76Mt of the previous year. Jobi Triananda Hasjim, company president, noted that it surpassed the average growth of the country’s industry by five per cent in 2018. "The growth of SMBR sales volume this year is one of the highest in the industry sector," said Mr Hasjim. In D...

Rostsement reports RUB20,000 net profit for 2018

07 January 2019, Published under Cement News

Rostsement saw its revenues increase by 25.6 per cent to RUB49.79m (US$738,982) in 2017 when compared with 2016, when the company reported revenues of RUB39.63m. The Russia-based cement producer turned a net loss of RUB2.26m in 2016 to a profit of RUB20,000 by the end of 2018, according to Info-RL. Cost of goods sold increased by 18.51 per cent to RUB49.09m from RUB41.42m in 2016. Gross prof...

New 3Mta line planned for BUA's Kalambaina Cement

10 January 2019, Published under Cement News

Nigeria’s BUA Group has signed another contract with CBMI for the construction of a new 3Mta line at Kalambaina Cement in Sokoto State. The announcement comes soon after a merger between Kalambaina Cement and the Cement Company of Northern Nigeria (CCNN) was given approval last month. Furthermore, the project arrives on the back of the completion of BUA’s 3Mta Obu Cement Line 2 around 90 day...

NCL Industries reports 13% growth in output in 3QFY18-19

07 January 2019, Published under Cement News

India-based NCL Industries has reported a 13 per cent YoY increase in cement production to 552,000t in the third quarter of FY18-19, up from 490,000t in the year-ago period. Cement deliveries advanced by 18 per cent to 555,000t in the 3QFY18-19 from 471,000t in the 3QFY17-18, according to Accord Fintech. In addition, the company’s cement boards production and dispatches increased by three an...

Sanghi Industries signs MoU for plant expansion

04 January 2019, Published under Cement News

India’s Sanghi Industries Ltd has announced plans to expand its existing cement plant in Sanghipuram, Kutch, to 8.6Mta from 4Mta. The project is expected to be completed at an investment of INR15bn (US$214.78m) and generate employment for around 350 people. The company's Chairman and Managing Director, Ravi Sanghi, has signed a Memorandum of Understanding with the Principal Secretary of Ind...