Cement News tagged: Corporate
Domicem surpasses 1Mt output mark
Domicem, based in the Dominican Republic, has set a new production record. The company surpassed the 1Mt mark for the first time in its history. Adriano Brunetti, Domicem’s managing director said it was “a record consumed volume, which shows shows the growth and development of the country leading it from being a born importer of cement to a self-sufficient producer with export of 20 per cent...
Sagar Cements records 27% fall in production
India’s Sagar Cements has seen the company's standalone cement production/purchase decline 27.4 per cent to 172,160t in November 2019, compared to 236,967t in the year-ago period. Consolidated cement production was down 23.1 per cent YoY to 244,291t from 317,796t. Standalone cement sales for the month also fell 29.4 per cent to 167,720t from 237,409t sold in November 2018. Consolidated ceme...
HeidelbergCement completed Bangladesh acquisition
HeidelbergCement Bangladesh has informed Dhaka Stock Exchange that it completed the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd and Emirates Power Co Ltd from UltraTech Cement Middle East Investments Ltd. The company has further informed that on 5 December 2019, the transaction (as per conditions of share purchase agreement) has been completed and the Emi...
Natal Portland Cement cleared in price-fixing case
South Africa's leading antitrust tribunal has dismissed a price-fixing and market division case against Cimpor-owned Natal Portland Cement (NPC) more than a decade after an investigation was launched. The competition investigation was originally launched in 2008 and included PPC, AfriSam and Lafarge. The tribunal has come to the conclusion that NPC had not engaged in a price war. "It [NPC] wa...
Cementos Molins signs EUR180m green loan
Spanish cement producer Cementos Molins has signed a EUR180m green loan to refinance all of its domestic debt and extend its maturity by five years. The agreement includes one EUR40m loan and a EUR140m revolving credit facility, of which EUR50m are already available with the balance to be used for future projects. Agent bank and coordinator of the loan is Caixabank while Sabadell, BBVA, ...
CIMERWA reports 20% sales increase
Rwanda-based CIMERWA posted a 20 per cent YoY increase in its sales volumes and a 28 per cent growth in revenues to RWF514m (US$560,342) in the 9M2019, attributed to the maintenance and upgrade of its 0.6Mta cement plant in Rusizi, Western Province, in 2018. CIMERWA currently produces 480,000t of cement, a significant advance when compared with an output of 364,864t of cement in 2018, less ...
Shareholders approve CCNN-Obu merger
Shareholders of Cement Co of Northern Nigeria (CCNN) and Obu Cement Co have unanimously approved the merger of the two entities into Obu Cement plc. This implies that all the assets, liabilities, licences and undertakings of CCNN, including employees, real property and intellectual property right, have been transferred to Obu Cement. Also, the entire issued share capital of CCNN, comprising ...
Pakistan cement dispatches grow strongly in 5MFY19-20
All Pakistan Cement Manufacturer Association (APCMA) has released dispatch data for November and for the five months of July-November 2019. According to APCMA, Pakistani cement dispatches in July-November 2019 increased 2.9 per cent YoY to 16.854Mt, while exports were up 21.5 per cent YoY to 3.608Mt. Overall cement dispatches grew by 5.8 per cent to 20.462Mt. In November 2019 the country's c...
BASF in talks to sell construction materials business to Lone Star
Germany’s BASF and private equity firm Lone Star are reportedly in exclusive negotiations for the sale of the former’s construction chemicals business, according to Bloomberg. Estimations have placed the unit at a value of around EUR3bn. In 2007 BASF acquired the business from Degussa, predecessor to Evonik, for EUR2.7bn but put the business up for sale last year. Following talks with Lafar...
CMA announces president and VP appointments
India’s Cement Manufacturers' Association (CMA) has elected Mahendra Singhi as its president for the second year running. "I'm extremely proud to be associated with CMA during this year of rapid and profound positive environmental impact. I'm looking forward as CMA President to making 2020 an even more prolific year. Indian cement is working on a low carbon technology map and remaining fully...
Head of Savannah Cement named CEO of the year
Savannah Cement’s Chief Executive Officer, Ronald Ndegwa, has been named CEO of the year by the Kenya Institute of Management. Mr Ndegwa dedicated the award to the company’s management, staff and customers, describing it as a tribute to their continued co-operation. "Sound management is a sum result of all the stakeholders who relate with Savannah Cement including the management team, staff...
HeidelbergCement reduces its shareholding in Ciments du Maroc to 51%
HeidelbergCement has announced the sale of around 0.5 million shares representing 3.6 per cent of Ciments du Maroc's share capital for an aggregate amount of approximately EUR73m. The shares were sold to certain Moroccan institutional investors through a block trade. Following this transaction, HeidelbergCement will retain a controlling stake of 51 per cent in Ciments du Maroc and continue t...
Ciments du Maroc reports 4% rise in 9M turnover
Ciments du Maroc, the Moroccan subsidiary of HeidelbergCement, has posted a 9M19 turnover of MAD2.67bn, up 3.8 per cent YoY. For the third quarter of 2019, the company reported revenues of MAD831m, representing a three per cent fall when compared with the 3Q18. The fall is due lower cement sales volumes as construction sites wound down activity in August. However, turnover is expected to i...
Lafarge Zimbabwe sees cement demand drop 19%
Lafarge Zimbabwe has seen a 19 per cent decline in cement consumption. Flora Chinhaire, Lafarge Zimbabwe Company Secrtary reported that hyper-inflation in the country had impacted demand. The Zimbabwe National Statistics Agency's inflation rates for September 2019 saw a 350 per cent rise YoY. “The operating environment in the second half of the year continues to be challenging for the busin...
JSW Cement expects UAE unit to be completed by January 2020
JSW Cement’s clinker production unit Fujairah, UAE, is expected to be completed by the end of January 2020, according to an interview with the Hindu Business Line. Parth Jindal, managing director of JSW Cement, noted that Ultratech and Ambuja send clinker from Gujarat to be ground near Mumbai. However, the freight from Gujarat and Fujairah to Mumbai is the same because they send it in small...
Hima Cement introduces RapidSet cement
Uganda’s Hima Cement has introduced a new type of cement, RapidSet, to leverage its position in a competitive market, according to The Observer. The product has been designed exclusively for the precast concrete market due to its rapid hardening attributes. The new cement (42.5R strength) is already available on the domestic market in 30kg bags. “The construction and real estate market conti...