Cement News tagged under: Italcementi

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Suez Cement completes coal trials at Katameya plant

29 December 2014, Published under Cement News

Suez Cement has completed the trial period of using coal to run its Katameya factory and it is now the main source of fuel at the Egypt-based factory, chairman Omar Mohanna announced. TheItalcementi group company is currently operating at 80 per cent of it 1.5Mta capacity compared to 50 per cent during times of natural gas supply shortages. Mr Mohanna told AlMal that the energy mix at the Katameya factory consists of coal (85 per cent), industrial waste (10 per cent) and ordinary energ...

Suez Cement to invest in conversion to coal

17 December 2014, Published under Cement News

Suez Cement, Italcementi’s Egyptian unit, said on Tuesday it planned to spend EGP600m (US$84m) in 2015 on equipping two factories to run on coal. CEO Bruno Carre said in a statement to the bourse the firm would develop its Helwan and Tora 2 factories "to use coal and residues to compensate for the lack of energy supplies." Suez Cement was one of the companies affected when the government cut natural gas supplies to factories in January and has had to import clinker at higher cost.   T...

Devnya wins “Building of the Year 2014” award

11 December 2014, Published under Cement News

Italcementi’s modernisation of the Devyna Cement plant, undertaken by CBMI Construction Co of China, has been awarded Bulgaria’s "Building of the Year 2014" award under the Industrial buildings – technological renovation and expansion category. Involving an investment of EUR160m, the Devnya cement plant project is one of the largest single industrial investments in Bulgaria in the last quarter of a century. CBMI (Sinoma Group) won the EPC contract for the project which combined Chinese...

Italy’s Competition & Market Authority awards three-star legality rating to Italcementi

08 December 2014, Published under Cement News

Italy’s competition and market authority, AGCM (Autorità Garante della Concorrenza e del Mercato), has awarded Italcementi a top three-star legality rating. The Legality Rating is an evaluation of a company’s legal compliance and the quality of its corporate governance and commitment to correct, sustainable business management. In this sense, it is also an enviable opportunity for firms to apply to the Authority for an authoritative independent assessment of their operations. "The rating a...

Italcementi obtains EBRD loan for plant revamp

04 December 2014, Published under Cement News

The Italcementi Group has signed an agreement with the European Bank for Reconstruction and Development (EBRD) granting it a loan for approximately EUR20m to fund the modernisation of the Shymkent cement plant in southern Kazakhstan. In addition to the loan, the EBRD will make an investment of approximately EUR4m in Shymkentcement, for an equity stake of around 21 per cent. The project, arranged under the EBRD policy to support energy efficiency initiatives in Kazakhstan, will replace the...

Egypt: Italcementi to build wind park

27 November 2014, Published under Cement News

Italcementi SpA has signed a memorandum of understanding (MoU) with the government of Egypt for the construction of a 120MW wind park in the coastal town of El-Zaafarana, where the government has agreed to allocate land. The company will invest some US$200m (EUR160.6m) in the plant, starting construction in the 2Q15, said Omar Mehanna, chairman of Italcementi’s Suez Cement Co, as cited by Ahram Online. Once the wind farm is completed at the end of 2015, Italcementi will consider the constr...

Italcementi reduces nine-month loss

10 November 2014, Published under Cement News

Italcementi's turnover declined by 3.1 per cent to €3,217.5m in the first nine months the year and the running EBITDA eased by 0.6 per cent to €469.3m. Very substantially lower re-organisation costs and a 12.1 per cent reduction in depreciation and impairment charges resulted in the trading profit staging a 48.1 per cent recovery to €160.9m.  The net interest charge rose by 15.7 per cent to €100.0m and a larger financial impairment charge, the pre-tax profit jumped from €10m to €40.3m.  Af...

Egypt: Suez Cement reports 18.3% rise in 3Q14 EBITDA

31 October 2014, Published under Cement News

Suez Cement Group of Companies (SCGC) reported a 48.2 per cent increase in revenues for the third quarter of this year. EBITDA during the three-month period rose by 18.3 per cent and net profit after non-controlling interest was up by 40 per cent. The Italcementi group company said that for the nine months to the end of September 2014, sales increased 30 per cent while recurring EBITDA was 7.8 per cent higher compared to the same period of 2013. However, higher corporate income taxes coupl...

Matteo Rozzanigo new FYM CEO

17 October 2014, Published under Cement News

Matteo Rozzanigo has been appointed as CEO of FYM, Italcementi’s Spanish subsidiary. He is tasked with positioning the company in a cement market, which is expected to stabilise and recover slowly after a prolonged crisis period. He replaces Mario Domenico Bracci, who held the post for the past three years and will now assume responsibilities for Ciments Maroc. Mr Rozzanigo hold an Industrial Engineering degree from the Polytechnic University of Milan, Italy, and has been with Italcement...

Asia Cement anticipates pick-up in Thai demand

10 October 2014, Published under Cement News

Thailand-based producer Asia Cement said it expects a pick-up in demand from late this year and into 2015 due to the government’s stimulus package and the launch of infrastructure projects. The Italcementi-group company forecasts Thai consumption for full-year 2014 to be on a par with last year’s figure of 34Mt. A five per cent increase is projected for next year. Managing director of Asia Cement, Roberto Callieri, told the Bangkok Post that while Asia Cement had faced challenging times s...