Cement News tagged under: ownership

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Vietnam Ministry proposes Quang Son cement transfer to Vicem

05 June 2018, Published under Cement News

The Vietnamese Ministry of Industry and Trade has proposed to the government to transfer the management of Quang Son cement plant from Vietnam Industrial Construction Corp (Vinaicon) to Vietnam Cement Industry Corp (Vicem), which are both government-run corporations, amid having huge losses and mounting loans, according to Viet Nam News. The loans have increased to 95 per cent of the total VND3.5trn (US$153m) of the project. Moreover, Vinaincon has no extra cash to fund the project, which...

Zambezi Portland Cement is returned to Ventriglia family

25 May 2018, Published under Cement News

Zambian multi-millionaire entrepreneur Rajan Mahtani has lost ownership of Zambezi Portland Cement after the High Court of Zambia awarded full ownership of the company to the Ventriglia family of Italy on Monday. The outcome follows a decade-long court battle between the Ventriglia family and Rajan Mahtani who had claimed that he owned a 58 per cent controlling stake in the business as payment for organising financing for the Ventriglia family years ago, but the Ventriglia family insisted...

Peru: Unacem sees sales slip 4.3% in 2016

21 March 2017, Published under Cement News

Unacem sales fell 4.3 per cent in 2016 to PEN1865m in 2016. In Ecuador, its subsidiary Unacem Ecuador sold 1.2Mt of cement at a value of US$153.2m. In the US Drake Cement in Arizona sold 546,000st or US$83m. The Peruvian cement company produced 3.4Mt of cement at its Atacongo works near Lima and 1.7Mt at the Condorcocha works in Junín. The company’s total output accounted for around 53 per cent of national demand. Shipments were mostly bagged cement, which accounted for 77 per cent of the...

Ibeto and Nigercem ownership dispute rages on

23 December 2014, Published under Cement News

The Ebonyi State Government in Nigeria has warned the Ibeto Cement Company over an alleged illegal entry into the premises of Nigercem cement premises located at Nkalagu. The entry has been perceived as an act of provocation by Governor Martin Elechi of Eb­onyi State, as Nigercem is still subject of an ownership dispute in the courts. He said: “We recall that the following dispute be­tween the state govern­ment and Ibeto Group on the ownership of Nigercem, Ebonyi State Government exercised...

Total cost of ownership

13 May 2014, Published under Cement News

Dr Clark returns to the saga of the fictional cement company, Ruritania Cement, where problems have been encountered during the operational phase of the cement manufacturing project. Counting the total cost of ownership Mr Entrepreneur, one of the richest people in Ruritania, and indeed the continent of Pangea, was not best pleased. It was now three years since he had looked on with pleasure as the first truck loaded with cement rolled out of the packing plant of his new cement ...

Lafarge Pakistan to issue 143m to Pakistan Cement Holdings

04 February 2014, Published under Cement News

Lafarge Pakistan Cement Ltd (LPCL) has received formal approval from the country's Securities and Exchange Commission to issue 143m shares to its holding company at par value (PKR10/share). This will increase the holding of Lafarge SA in Lafarge Pakistan from 73 to 76 per cent, according to a note to the Karachi Stock Exchange. The move, which reflects Lafarge SA's confidence in the Pakistani subsidiary, contradicts market newsflow that a potential sell-off or merger was on the cards. ...