Cement News tagged: Corporate
Breedon trading exceeds expectations
Breedon, a leading construction materials group in Great Britain and Ireland, today issued an update on recent trading. The Group’s recent trading update, published on 18 November 2020, noted continuation of positive trading into the fourth quarter. Since then, the company said performance has continued to exceed expectations across the group, with revenues in November ahead of the prior ye...
Cargo Handlers acquires 30% stake in Jamaican cement importer
Cargo Handlers Ltd has acquired a 30 per cent stake in Buying House Cement Ltd, a cement importer based in Montego Bay that mostly supplies western Jamaica. Dominican Republic-based Domicem will continue to own 70 per cent of Buying House. According to CHL Chairman Mark Hart, the cement importer holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Co. M...
Raysut Duqm Cement Factory financing announced
To support initiatives to scale up the industrial sector in Oman, ahlibank has announced the financing of OMR8.1m (US$21.1m) for Duqm Cement Factory's new cement grinding plant in Duqm Industrial Estate. A signing ceremony with Duqm Cement Factory, a wholly-owned subsidiary of Raysut Cement, took place on 10 December, the Times of Oman reported. Signing the agreement on behalf of ahlibank ...
Unacem buys Cementos La Unión in Chile for US$23m
Peru-based Unión Andina de Cementos (Unacem) has signed a contract with Cementos La Unión and Aridos Jativa, and the Chile’s Inversiones Mel 20 Ltda for the purchase of the full stake of shares of Cementos La Unión in Chile and 100 per cent of the social rights of Inversiones Mel 20. The contract was signed on December 11 and is subject to compliance with conditions such as approval by the C...
AdBri given approval for AUD199m project
Australia’s Adbri Ltd has been given board approval for an AUD199m (US$151.7m) project that will consolidate two existing cement production sites into a single operation serving the western Australia market and increase production capacity to 1.5Mta from 1.1Mta. AdBri’s Cockburn Cement business has existing production capabilities to service this market at both Kwinana and Munster, located so...
Cemex España increases ownership in Cemex Latam Holdings
Cemex España SA is increasing its shareholdings in Cemex Latam Holdings SA (CLH), which is listed on the Colombian stock exchange, from 73.16 per cent to 92.6 per cent of CLH's paid and outstanding shares. This completes the tender offer made by Cemex España for all outstanding ordinary shares in CLH directed to all shareholders at a purchase price of COP3250 (US$0.95) per ordinary share....
Loma Negra resumes production
The Argentine Miners Union (AOMA) and Loma Negra have reached an agreement after a 10-hour round of negotiations resulted in new basic and additional salaries for the employees of its limestone supplier Minerar as well as a voice in the Cement Agreement negotiations that start in February, according to BAE Negocios. As Loma Negra resumes production, it is expected that cement dispatches will n...
Cimerwa reports revenue increase in FY19-20
Rwanda’s Cimerwa has seen its revenue increase one per cent YoY to RWF63bn (US$63.79m) in the financial year ended September 2020. Profit after tax reached RWF1.9bn, while EBITDA was at RWF1.95bn for the FY19-20. During the year, Cimerwa produced and sold 421,000t of cement, an improvement on the previous fiscal despite a 40-day shutdown on cement production due to the effects of COVID-19. ...
Caribbean Cement agrees three-year labour agreement
The Union of Clerical Administrative and Supervisory Employees (UCASE) and the management of Caribbean Cement Co Ltd have reached agreement on a three-year collective labour agreement, covering the company’s unionised production workers at its Rockfort cement plant in Kingston, Jamaica. The agreement was reached following several meetings between the company and the union at the local le...
Raysut Cement scoops Best Employer Brand awards
Raysut Cement Company (RCC) has picked up seven awards and two Best Employer Brand Awards, one focussed on Oman companies and the other on GCC corporate entities. RCC’s CEO, Joey Ghose, won the ‘CEO of the Year’ honour at both the Oman Best Employer Awards 2020, held in October and GCC Best Employer Awards 2020 held in November. The awards RCC picked up at the Oman Best Employer Brand...
Votorantim and McInnis to combine Canadian operations
St Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos, and McInnis Cement Inc announced that they will combine their assets to create a combined entity to manufacture, distribute and sell cement in Canada and the USA. The joint venture will be owned by Votorantim Cimentos International (VCI), the international investments platform and wholly-owned subsidiary of Votoran...
Taiwan's producers see fall in November revenue
Taiwan Cement Corp has reported a 6.8 per cent YoY decline in revenue for November to TWD10.89bn (US$385.81m) from TWD11.68bn in the year-ago period. In the January-November period, revenue fell 6.4 per cent YoY to TWD103.4bn. Elsewhere in the country, Asia Cement Corp’s revenue was down one per cent to TWD7.92bn from TWD8bn in November 2019. In the first 11 months of the year, revenue fell...
CCI starts investigation into Ambuja and ACC
The Competition Commission of India (CCI) has initiated an investigation against ACC and Ambuja Cements and other cement companies in the country regarding alleged anti-competitive behaviour, according to regulatory filings. "ACC is of the firm view that it has acted and continues to act in compliance with competition laws and we are fully cooperating with the investigation and providing all...
Punjab government approves five cement plants
The Punjab Chief Minister Sardar Usman Buzdar has approved setting up five new cement plants by the private sector in Punjab province, Pakistan, at an estimated investment of PKR150bn-200bn (US$0.935bn-1.246bn). The winners' names are yet to be disclosed officially, but the market believes approval was given to Lucky Cement, DG Khan, PIOC, Kohat Cement and Fauji Cement Ltd. Earlier, the cem...
Veolia signs contract to co-process wind turbine blades
GE Renewable Energy has signed a multi-year agreement with Veolia North America (VNA) to recycle blades removed from its US-based onshore wind turbines during upgrades and repowering efforts. VNA is expected to process the blades for use as a raw material and fuel for cement production. Similar recycling processes in Europe have been proven to be effective at a commercial scale. As a part ...
Lucky Cement reports 16% rise in November revenue
Taiwan’s Lucky Cement has reported a 16.3 per cent YoY increase in revenue for November 2020, rising to TWD402.13m (US$14.24m) from TWD345.87m in November 2019. In the January-November 2020 period, revenue climbed 23.5 per cent YoY to TWD4.14bn from TWD3.35bn.