Cement News tagged under: Weekly Newsletter
Pacific Cement expected to be shutdown until July05 June 2017, Published under Cement NewsPacific Cement Ltd (PCL) announced that it is unable to meet the domestic cement demand in Fiji, due to the age of its factory which is contantly out of action. Sowani Tuidrola, PCL's chief executive, says they stopped production two weeks ago due to a major breakdown at the factory. “The local demand here is big, more than what it was in the past and the second reason is that our factory at the moment is facing some mechanical problems. So one of those primary parts of the mill is actu... |
Orient Cement to acquire two Jaypee units01 June 2017, Published under Cement NewsOrient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grinding unit in Bhilai, Chhattisgarh. Another agreement was signed for the acquisition of the 2Mta Nig... |
Vulcan Materials to acquire Aggregates USA31 May 2017, Published under Cement NewsVulcan Materials Co has reached a definitive agreement with SPO Partners to acquire its aggregates business, Aggregates USA LLC for US$900m in cash. Aggregates USA LLC operates 31 facilities serving high growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia. "We are pleased to have reached agreement with SPO Partners for these strategic assets, which enhance our ability to serve high growth markets throughout the southeastern US," said Vulcan's Chairman and CEO, Tom H... |
LafargeHolcim to start share buy-back programme31 May 2017, Published under Cement NewsLafargeHolcim announces that it will start its share buy-back programme of up to CHF1bn (EUR916.9m) over 2017-18 on 1 June 2017. The programme that was initially announced at the Capital Markets Day on 18 November 2016 and authorised by the Board of Directors on 26 January 2017, will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent to make the share repurchases on behalf of LafargeHolcim. The second trading line is expecte... |
Egyptian Cement Co seeks loan for Sohag plant31 May 2017, Published under Cement NewsEgyptian Cement Co has entered into negotiations with a local banking alliance to obtain a loan of EGP4bn (US$221m) to partly finance the cost of its first plant and construction materials complex in Sohag province. The alliance is made up of the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, sources told Al Mal newspaper. The details of terms and conditions memorandum are being agreed upon in preparation for addressing other local banks to contribute to ... |
Colombian market contracts 15%30 May 2017, Published under Cement NewsIn April 2017 cement consumption in Colombia fell 14.9 per cent to 0.9Mt from 1.058Mt in April 2017, according to Colombia’s statistics office, Dane. Sales across all distribution channels slipped with construction companies and contractors requiring 19.1 per cent less, ready-mix companies 16.6 per cent lower volumes and a 12 per cent reduction at retail level. In terms of departments, the key regions of Bogotá noted a 15 per cent reduction in demand, Antioquia -9.8 per cent and Santa... |
AfDB provides loan to Diamond Cement Guinée30 May 2017, Published under Cement NewsThe African Development Bank has granted a US$22.5m loan to Diamond Cement Guinéa to finance a clinker production unit. The new 0.5Mta plant will be built in Souguéta, some 200km from Conakry. Clinker from the works will be sent to grinding units in the outskirts of Conakry. According to the agreement, the new unit will help to "reduce the cost of cement production on the one hand and make cement more accessible to the population, while on the other hand, reduce dependence of the Guinea... |
PCA sees 3.5% cement consumption growth annually in next two years25 May 2017, Published under Cement NewsThe Portland Cement Association (PCA) announced it expects US cement consumption to reach 3.5 per cent annual growth during the remainder of 2017 and 2018, based on analysis of data and policies likely to impact the industry in the years ahead. Speaking before the IEEE-IAS/PCA Cement Conference in Calgary, Alberta, Canada, PCA Senior Vice President and Chief Economist, Ed Sullivan, said that while details on specific federal US policies are not yet fully available, the association is ... |
Cimpor EBITDA recovers by 5%25 May 2017, Published under Cement NewsCimpor’s first quarter turnover eased by 0.3 per cent to EUR452.9m, while the EBITDA recovered by five per cent to EUR84.1m. The trading profit (EBIT) improved by 3.1 per cent to EUR36.7m. The net financial charge came down by 18.1 per cent to EUR62.1m to give a pre-tax loss of EUR25.4m, compared with EUR40.3m a year earlier. At the net attributable level there was a loss of EUR34.4m, compared with a loss of EUR40.7m a year earlier. The net debt was 10.7 per cent higher at EUR3,3509m and... |
Pakistan cement exports continue to disappoint25 May 2017, Published under Cement NewsPakistan exported 225,778t cement in April on revenues of US$13.49m, down 25.28 and 18.54 per cent, respectively compared to the previous month. Compared to April 2016, export volumes were down by 49.65 per cent from 507,958t and revenues fell by 49.65 per cent (US$26.31m) a year earlier, data from Pakistan's Federal Bureau of Statistics shows. In the first 10 months of FY16-17, the country exported 3.9Mt of cement at a total value of US$205m, considerably lower than the 5.06Mt at US$274.3... |