Cement News tagged under: Weekly Newsletter
PPC is a new target for CRH13 October 2017, Published under Cement NewsCRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest... |
Dominican Republic cement production tops 2.6Mt in 1H1712 October 2017, Published under Cement NewsIn the first half of 2017 cement production in the Dominican Republic reached 2,612,099t, according to data released by the Dominican Central Bank. From January to June of this year, domestic sales volumes increased by 5.5 per cent compared to the same period in 2016 while cement exports accounted for nearly 18 per cent of production, exceeding US$654.8m, more than US$58.6m, in the 1H16. Sales of cement exported to Haiti amounted to US$543,108m from January to July 2017. In 2015 th... |
Arabian Cement postpones Rabigh grinding operation12 October 2017, Published under Cement NewsArabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17. Construction on the project is still ongoing and according to a statement to the Saudi Stock Exchange, the delay is attributed to the contractor who does not commit to the scheduled deadline. The financial impact of the new facility is difficult to determine as it depends on supply and demand in the cement market, said the ... |
Steppe Cement 2Q17 revenues rise 27%11 October 2017, Published under Cement NewsSteppe Cement announced that its 2Q17 revenue of KZT9312m (US$27.7m) was 27 per cent higher than the KZT7316m achieved in the corresponding quarter in 2016. Sales volumes reached 685,745t during the third quarter, a 12 per cent increase from the 3Q16 due to good clinker output and stock availability. For the nine months ended 30 September 2017, Steppe Cement Ltd recorded a revenue of KZT17,865m compared with KZT15,506m in the corresponding nine-month period in 2016, representing a ... |
Benghazi Cement takes initial steps to reopen10 October 2017, Published under Cement NewsBenghazi’s Hawari cement factories, in Libya, is being helped to reopen. British consultants met with the city's Mayor Abdelrahman Al-Abaar last week in talks on restarting the stalled factories, reports Libya Herald. Work is to start on demining work on the premises and its surroundings together with an assessment of the huge damage caused by the extensive fighting that took place in and around the factory. Plans to rebuild and reopen the two cement factories in Benghazi’s Hawari distr... |
Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement09 October 2017, Published under Cement NewsUS cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board... |
Arabian Cement in merger talks with Al Safwa Cement09 October 2017, Published under Cement NewsArabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Social Insurance (GOSI). Arabian Cement has been attracted by the locational advantage of the plants of both companies and source of raw materials, besides the cost savings in selling, general and administrative expenses and relatively lean inventories, according to Al-Rajhi Capital Research. In addition, both... |
PCA updates US annual cement consumption forecast06 October 2017, Published under Cement NewsPortland Cement Association's (PCA) Market Intelligence Group has forecast annual cement consumption to climb in the USA by 2.6 per cent during 2017 and 2.8 per cent in 2018. The updated forecast adjusts downward PCA projections released earlier this year. Bad weather and lower than anticipated budgets for the public construction sector are among the factors that have prompted the adoption of a more modest growth outlook. "Once infrastructure and tax reform initiatives take hold and aff... |
Xuan Thanh cement plant opens 12,500tpd line06 October 2017, Published under Cement NewsThaiGroup JSC, formerly known as Xuan Thanh Group JSC, has inaugurated the second production line of the Xuan Thanh cement plant in the northern province of Ha Nam, Vietnam. The production line has a total investment of VND10.8trn (US$475.25m) and a clinker capacity of 12,500tpd, the Dau Tu newspaper reported. After inaugurating the second production line, the company plans to invest in a third one with a cement capacity of 4.5Mta, raising the plant’s output to 10Mta. In early 2016... |
China will impose new environmental tax from 1 January 201804 October 2017, Published under Cement NewsBusinesses in China are being urged to prepare themselves for a new environmental tax for the start of next year. China will abandon its current system under which polluters are charged locally in favour of the nationwide environmental protection levy to reduce air, soil and water contamination, reports South China Morning Post. The new regime will see firms that cause pollution taxed under a uniform set of national rules rather than the fees being collected at the local level. For instance... |