Cement News tagged under: corporate
Ambuja Cements acquires 1.5Mta Tuticorin grinding unit16 April 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has signed a definitive agreement to acquire a 1.5Mta grinding unit from My Home Industries Group . The deal, which involves the Tuticorin facility in Tamil Nadu, India, has an estimated value of INR4137.5m (US$49.6m), which will reportedly be funded through internal accruals. The acquisition will take Adani Group’s total cement production capacity to 78.9Mta and will enhance the company’s coastal footprint across the southern markets of Tam... |
Belarusian cement plants post losses16 April 2024, Published under Cement NewsIn 2023 OAO Krichevcementnoshifer reported a loss of BYN120.65m (US$36.9m), a fourfold YoY increase despite a 9.3 per cent YoY revenue increase, according to Charter 97. OAO Krasnoselskstroymaterialy doubled its loss to BYN55.1m in 2023 when compared with 2022 while its revenue saw a 5.6 per cent YoY uptick. The OJSC Belarussian Cement Plant reduced its net loss by 16 per cent to BYN34.36m in 2023 while its revenue declined by 2.9 per cent over the same period. The Belarusian ce... |
American Society of Concrete Contractors joins WCA16 April 2024, Published under Cement NewsThe World Cement Association (WCA) has welcomed the American Society of Concrete Contractors (ASCC) as affiliate member. ASCC, a non-profit association, includes approximately 720 companies and serves as the only US-wide concrete contractors’ trade association. ASCC strives to provide its members with unparalleled resources, knowledge, and advocacy, fostering excellence, innovation, and professionalism within the concrete construction sector. Through collaboration, education, and advocacy ... |
Ambuja and ACC cements gain GRIHA recognition15 April 2024, Published under Cement NewsAmbuja Cements and ACC have achieved certification for their sustainable blended cement products and are now enlisted in GRIHA's Product Catalogue. According to the companies, this underscores their leading role in green cement production and commitment to achieving net zero emissions by 2050. GRIHA Council is an independent society developed for the promotion and adoption of sustainable habitats in the Indian subcontinent. It was established in 2007 with the combined efforts of the ... |
National Cement secures finance facility12 April 2024, Published under Cement NewsKenya’s National Cement has secured a KES4.3bn (US$33.1m) facility from Stanbic Bank Kenya to finance a debt undertaken to construct a new clinker plant in West Pokot , reports The Star. According to the bank, the facility is designed to partially refinance National Cement’s foreign currency liabilities resulting from its recent expansion activities. “This transaction underscores our commitment to fostering innovation and supporting the expansion efforts of leading corporates in Kenya... |
Heidelberg Materials Hellas in partnership with Sympower12 April 2024, Published under Cement NewsGreece-based Heidelberg Materials Hellas is working with energy specialist Sympower to “unlock and monetise” the cement producer’s energy-intensive equipment. According to Sympower, the partnership marks a significant step in accelerating Greece’s energy transition and strengthening its electricity grid. By utilising three of Heidelberg Materials Hellas’ cement mills and one of its raw mills, Sympower will optimise their energy flexibility and provide their capacity to Greece’s balanci... |
Votorantim Cimentos opens new waste treatment unit in Itaperuçu12 April 2024, Published under Cement NewsBrazil-based Votorantim Cimentos inaugurated its first Brazilian unit dedicated to the operations of Verdera, its sustainable waste management and disposal arms and Viter, an agricultural inputs business, in Itaperuçu. The waste treated at the Itaperuçu will be used at Votorantim Cimentos' Rio Branco do Sul plant. The BRL145m (US$28.6m) investment will house a new Verdera waste crushing plant an a new agricultural limestone production line. Verdera's new shredding plant has the capacit... |
Fitch Ratings expects Taiwan Cement to maintain credit profile after earthquake12 April 2024, Published under Cement NewsThe BBB-/Stable credit profile of Taiwan Cement Corp (TCC) is unlikely to be affected by the equipment damage and operational disruption caused by the 3 April 2024 earthquake in eastern Taiwan, according to Fitch Ratings. Repairment costs and lost revenue in relation to the earthquake should not damage TCC's financial profile, as the amounts are immaterial relative to TCC's EBITDA of TWD20bn (US$619.7m) and TWD126bn of cash on hand as of end-2023. The company's preliminary assessment esti... |
CEMEX refinances credit agreement12 April 2024, Published under Cement NewsCEMEX has successfully refinanced its euro-denominated sustainability-linked syndicated credit agreement, extending the final maturity to 2029. The refinanced credit agreement consists of a EUR450m five-year amortising term loan, and a new EUR300m four-year committed revolving credit facility. This represents a reduction of EUR50m in the term loan and an additional source of liquidity in the form of a revolver. According to the company, the signing of this agreement is an integral par... |
Competition Tribunal grants approval for Afrimat's acquisition of Lafarge South Africa11 April 2024, Published under Cement NewsAfrimat has notified its shareholders that the Competition Tribunal has granted approval for the Lafarge South Africa ( Holcim ) acquisition. All other regulatory authority approvals have been granted. In a Stock Exchange News Service announcement, the CEO of Afrimat, Andries van Heerden, indicated that this exciting deal forms part of the Afrimat Group's ongoing diversification strategy. “It will increase Afrimat’s offering in the construction materials space, by expanding the group'... |