Cement News tagged: Corporate
Bataan terminal to open before year-end
Phinma Corp subsidiary Philcement Corp has stated that its PHP800m (US$15.4m) cement terminal in Bataan will be opened before the end of the year. Phinma is using Philcement as its vehicle for its cement industry comeback in a move to contribute significantly to the growing demand for reliable and quality cement and construction materials in the Philippines. Philcement President and Chi...
Pakistan cement players profits tumble in FY19
The major cement firms reported fall in profit during FY19, says a report of Spectrum Securities Ltd. The research house report made on the review of eight top companies: DG Khan Cement, Fauji Cement, Cherat Cement, Maple Leaf Cement, Bestway Cement, Khoat Cement, Attock Cement and Fectc Cement. The report added that during FY19, net income of the cement sector posted a considerable decline ...
LafargeHolcim’s Bélier cement now available via Jumia
LafargeHolcim’s Bélier cement is now available in Côte d’Ivoire on Jumia, the Nigeria-based E-commerce company. LafargeHolcim opened its online shop on the platform three months ago in addition to more than 200 points of sale through its Binastore franchises. "Individuals can now proceed with their purchase by mobile money, credit card or cash on delivery," says the cement producer.
Hoffmann Green launches IPO
Hoffmann Green Cement Technologies (HGCT) is launching its initial public offering (IPO) 2 October. The company plans to raise around EUR50m on the Euronext Growth market. HGCT’s cement production process reduces CO 2 emissions by 80 per cent due to a modification of the composition of the cement that eliminates the need for clinker, according to the company. The France-based cement produ...
Illinois Cement prepares to expand quarry operations
Illinois Cement (Eagle Materials Inc) will soon start work on a new road to bypass an area a quarter of a mile west of its current quarry location on East Third Road in La Salle, USA, where it intends to start blasting a new quarry. After five public meetings in a month at the end of last year, Illinois Cement was granted its requests by the city of La Salle for annexation, special use permit...
Ohorongo Cement plans to reduce bulk road transport
Namibia-based Ohorongo Cement has extended its partnership with Transnamib to reduce its use of road transport in the moving of bulk materials around the country. Transnamib has seen the construction of a multi-faceted private siding with two independent sections designed for in- and outbound shipments at Ohorongo Cement’s plant near Otavi. Ohorongo Cement and Transnamib entered into a ...
Lafarge Zambia Plc had to raise prices to stay afloat
Lafarge Zambia's CEO, Jimmy Khan, has spoken out about the crippling overcapacity in Zambia's cement market. Mr Khan said Zambia's cement consumption stands at around 2.2Mt compared to a production of about 5Mt. Mr Khan told President Lungu at State House in Lusaka yesterday that his company recently hiked cement price by 25 per cent to stay in business. Mr Khan said his firm made losses of a...
Kant modernises packing department
Kant Cement plant in the Chui region, Kyrgyz Republic, has modernised the packing department. The company installed a Turbo K8 filling machine from Russia-based Vselug for more accurate and convenient packing of cement. German BERG compressors to clean sleeves also entered service. Kant aims to ship at least 60 per cent of its products in 25kg and 50kg bags. The new equipment will enable the...
Kohat and Fecto Cement report fall in profit
Kohat Cement and Fecto Cement have announced their financial results for the year ended 30 June 2019. Both companies' profits declined, mainly due to increase in cost of sale and other factors. Kohat Cement Co Ltd (KOHC) declared a net profit of PKR2.4bn (US$15.27m), down by 17.2 per cent YoY, as compared to PKR2.9bn reported in the same period last year. However, sales increased by 16.5 pe...
UltraTech Cement outlines Century 'Scheme of Arrangement'
UltraTech Cement's Board of Directors has declared the Scheme of Arrangement between Century Textiles and Industries Ltd (Century), the company and their respective shareholders and creditors (the Scheme) to be effective from 1 October 2019. For the scheme, the company will issue one equity share of face value INR10 (US$0.14) each for every eight equity shares of face value INR10/each held by...
Raysut Cement signs Duqm plant deals
Omani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our pres...
International Cement cancels US$144m deal to buy Schwenk Namibia
International Cement Group (ICG) has cancelled its proposed US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The e...
Belarusian Cement Co launches 15kg bags
Belarusian Cement Co has introduced cement bags of 15kg. The new packaging option extends the product’s line, which previously was only available in 25kg bags.
Lehigh Hanson set to acquire Giant Cement's Keystone plant
HeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisati...
ARM subsidiary is sold to Huaxin Cement
Maweni Limestone Ltd, the Tanzanian subsidiary of ARM, has been sold to Huaxin Cement of China for US$116m. The acquisition is subject to regulatory approvals. "This transaction will permit Huaxin immediate entry into one of the leading markets in east Africa and is integral to Huaxin's broader strategy to expand its footprint across emerging markets," joint ARM administrators George Weru a...
Arabian Cement's Rabigh plant to begin operations in 2Q20
Construction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the dela...