Cement News tagged under: GCC

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GCC acquires multiple Cemex operations

21 November 2016, Published under Cement News

GCC has announced the acquisition of multiple Cemex operations in the USA. The acquisition comprises a cement plant (Odessa, Texas), two cement terminals (El Paso and Amarillo, Texas) and one construction materials business located in El Paso, Texas, and Las Cruces, New Mexico, comprised of eight ready mix plants, six aggregate plants, five asphalt plants and five distribution centres. The acquisitions will see GCC’s workforce increase to nearly 3500 employees. No operational closures ...

Georgia: new cement plant in partnership with LafargeHolcim

04 October 2016, Published under Cement News

Georgian Cement Company (GCC) opened its new cement plant on the 4 October 2016 in Poti, with an initial annual capacity of 0.25Mta. GCC decided on the location of the plant after market research revealed that western Georgia was mainly supplied by cement imported from Turkey. To complete the project GCC entered a partnership with Lafarge, which has since merged with Holcim to become LafargeHolcim. Construction of the plant commenced in 2014. The new plant boasts a unique laboratory based...

Mexico: Cemex announces intention to sell its stake in GCC

03 October 2016, Published under Cement News

Cemex SAB de CV said on Friday that it is looking to sell the 23 per cent stake it directly owns in Mexican cement producer Grupo Cementos de Chihuahua SAB de CV through a secondary public offering. In its filing, Cemex disclosed that it had asked CNBV, Mexico's banking and securities regulator, to approve the planned transaction, under which the Mexican building materials company will offer the shares to domestic and foreign investors in a concurrent private placement. The sale would be...

USA: GCC Dacotah unveils US$90m investment

23 March 2016, Published under Cement News

GCC Dacotah has announced a US$90m investment to upgrade and restart Kiln Line 6 at its cement plant in Rapid City, South Dakota. Mayor Steve Allender welcomed the news. "Construction is a major industry in Rapid City and the region, and this cement plant has a long history of providing cement for the state and region. It's very good for Rapid City. We are a growing community; the business community is growing. I think that's positive for all of us. There's consumer confidence, there's busin...

Fujairah Cement profit hit by weaker prices

24 February 2014, Published under Cement News

UAE-based producer Fujairah Cement recorded a AED12m (US$3.3m) loss last year as a weaker pricing environment affected revenue despite higher sales. In a filing posted on the Abu Dhabi Securities Exchange yesterday, the company said revenues were AED588m last year, compared to revenues of AED569m and a gross profit of AED35m the year before. “The market has not increased in our favour,” said Murthy Veasi, the company’s finance manager. “Prices have come down by nearly AED10 [per tonne] ...

ACC to construct new kiln line, Saudi Arabia

22 February 2014, Published under Cement News

The managing board of Arabian Cement Co has agreed to boost production at the company’s Rabigh plant in Saudi Arabia by constructing a new kiln line. The new kiln will add capacity of 10,000tpd and is expected to start operations in mid-2017. (Source: SeeNews Middle East & Africa).

Cemtech Middle East & Africa underway

04 February 2014, Published under Cement News

Cemtech Middle East & Africa 2014, the leading international cement conference and exhibition series, has opened in Dubai in front of an audience of over 270 senior industry delegates from 35 countries, including Guest of Honour, His Excellency Sheikh Yaser Al Qasemi, General Manager of Union Cement Company, Ras Al Khaimah, and Chairman of the Cement Producers’ Association of the UAE. Thomas Armstrong, Cemtech organiser, welcomes over 270 industry delegates from across the Middle Eas...

Fitch Ratings raises GCC outlook

27 January 2014, Published under Cement News

Fitch Ratings has revised its outlook for Grupo Cementos de Chihuahua (GCC) from 'Stable' to 'Positive.' The upward revision reflects Fitch's view that GCC's operations could gain momentum resulting from US construction spending expanding in 2014 driven by continued strength in residential construction, and to a lesser extent in modest recovery in commercial and public construction spending. The outlook also incorporates an expectation of higher public spending in Mexico in 2014. In Fitch...

GCC: returning to form

18 October 2013, Published under Cement News

This year has marked a broad-based recovery in the construction markets of the Gulf Cooperation Council  (GCC) and the region appears to be returning to form, driven particularly by projects in Saudi Arabia and Qatar, as well as emerging signs of recovery in the UAE. A recent report by Global Investment House (GIH) states that the turnaround seen in 2012 is expected to maintain momentum as it sees consumption climbing from 4-5 per cent this year to 6-7 per cent next year due to se...

GCC's cement companies see a double-digit rise in 1Q13 turnover and profit

10 June 2013, Published under Cement News

Combined net profits of the GCC's listed cement companies grew to US$585.3m during the first three months of the year, according to analysis by Kuwait's Gulf Investment House. This is a 16.9 per cent increase on the US$500.9m achieved last year. Total sales increased by 13.8 per cent during the quarter to US$1.4bn. Prices fell slightly to US$66.10/t, compared with US$66.70 in the same period last year. This was due to a drop in prices in Saudi Arabia, although the increased volume of produ...