Cement News tagged under: Weekly Newsletter
Berbera under new management15 June 2017, Published under Cement NewsThe government of Somaliland, an autonomous region of Somalia, has passed over ownership of the Berbera cement plant to a Red Sea Cement, a new company jointly established by the Dahabshiil Group, Berbera Group and the Kuwaiti Kipco. Speaking on behalf of Red Sea Cement, Mohamed Said Duale, founder of the Dahabshiill Group, stated that the new joint venture will start plant rehabilitation activities very soon, Somaliland Press quoted him as saying. Minister of Industries, Shuaib Mohame... |
France to investigate LafargeHolcim Syrian activities14 June 2017, Published under Cement NewsFrance has launched a judicial inquiry into the Syrian activities of cement and construction group LafargeHolcim, a judicial source told Reuters on Tuesday, investigating "the financing of terrorist enterprise" and endangering lives. The appointment of three investigating magistrates, two financial specialists and one specialised in anti-terrorism, follows the opening of a preliminary inquiry last October, the news agency reported. The development does not necessarily mean any person or... |
Indonesian consumption continues to rise14 June 2017, Published under Cement NewsIndonesian cement consumption continued to rise last month, increasing by seven per cent YoY to 5.47Mt, according to latest data from the Indonesia Cement Association (ASI). The advance marks the second consecutive month of growth with demand being supported by a recovery in the property sector and infrastructure development projects. Cement sales grew by 4.1 per cent (YoY) to 25.26Mt over the January-May period. Exports also noted a significant increase, rising to 25,000t in May (+60 pe... |
CEMBUREAU welcomes new President & VP13 June 2017, Published under Cement NewsGonçalo Salazar Leite (Vice Chairman Secil), has been elected as President of CEMBUREAU for a two-year term at the Association's General Assembly held on 9 June in Paris (France) after having completed his mandate of Vice-President over the last two years. He takes over from Mr Daniel Gauthier, former CEO Western Europe-Africa and Member of the Managing Board of HeidelbergCement. In addition, Raoul de Parisot, advisor to Vicat’s Chairman and CEO, has been elected as Vice-President of CEMBU... |
Loma Negra board to consider equity offering13 June 2017, Published under Cement NewsCimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offering on the local and international capital markets. The move is among the initiatives undertaken by Cimpor “to reinforce its capital structure,” the parent company said in a statement. The EGM will be held on 3 July in Olavarría, Argentina. |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
Cemex Philippines sees 2H acceleration08 June 2017, Published under Cement NewsCemex Holdings Philippines Inc is optimistic that its sales volumes will recover from the subdued first quarter and grow by three per cent by the end of the year from the 5.1Mt of cement it sold in 2016, the Manila Bulletin reports. In an interview after the firm's annual stockholders' meeting, Cemex Vice President for Communications, Marketing and Investor Relations, Paul Vincent Arcenas, said they expect a rebound in sales volume in the second half of the year. "The second half is (e... |
Vietnam Jan-May sales up 6%07 June 2017, Published under Cement NewsVietnam sold 33.27Mt of cement in the first five months of this year, an increase of six per cent YoY, fulfilling 41.58 per cent of the whole-year target, the country's Ministry of Construction said. The volume included 24.76Mt of domestic sales, up one per cent YoY, and 8.5Mt of exports, the ministry added. However, local cement producers have encountered difficulties in promoting exports of their clinker and cement due to export duties. These have directly affected domestic cement p... |
Kohat Cement announces new line construction07 June 2017, Published under Cement NewsKohat Cement Co is to construct a new 7800tpd production line at its cement plant Khyber Pakhtunkhwa province, the company informed the Pakistan Stock Exchange on 6 June 2017. The new project will also include a waste heat recovery unit. The additional capacity is expected to boost the company’s market share by four per cent to 9.2 per cent. Kohat currently has grey clinker and cement capacities of 2.5Mta and 2.8Mta, respectively. Earlier, the company said the installation of a 105tph... |
S&P upgrades GCC rating06 June 2017, Published under Cement NewsS&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable. At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'. Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu... |