Cement News tagged: Corporate
PhilCement obtains loan to build terminal
Philippines-based Phinma Corp has announced that its cement trading unit secured a PHP875m (US$16.69m) loan to construct a new cement terminal. "The loan will be used for the construction of the cement terminal that will be located in Mariveles, Bataan," said Phinma in a statement. PhilCement Corp signed the five-year fixed-term loan agreement with Security Bank on 1 June, according to B...
Vietnam Ministry proposes Quang Son cement transfer to Vicem
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 ...
NovaAlgoma Cement Carriers acquires 25% of JT Cement
Algoma Central Corporation (ACC) has announced that NovaAlgoma Cement Carriers Ltd (NACC) has acquired a 25 per cent ownership interest in JT Cement, which operates a fleet of seven smaller pneumatic cement carriers, which also include Norway-based KGJ Cement Holdings and Erik Thun of Sweden as stakeholders. "This investment will allow us to each apply our experience and knowledge in the pneu...
LafargeHolcim starts Martres-Tolosane modernisation
On Monday, LafargeHolcim announced the start of the modernisation works at its Martres-Tolosane plant in France. The project represents an investment of more than EUR100m. The first phase of civil engineering was awarded to Toulouse-based Eiffage Génie Civil. The next 12 months will see the construction of the foundations of the new preheater tower and kiln line. The allocation of the n...
PT Semen Indonesia to invest in e-commerce platform
PT Semen Indonesia plans to expand its market across the country through an e-commerce platform. The company aims to increase sales through the project, reports Antara. Domestic sales of the company fell 4.5 per cent in the first quarter of 2018, decreasing to 2.27Mt from 2.38Mt. The producer is currently facing competition from new companies joining the market, according to Sigit Wahono, c...
INSEE Cement strengthens its supply chain management
Cement supply to Sri Lanka's domestic market is heavily dependent on imports of clinker and bulk cement. Therefore, supply chain management plays a vital role, which has forced INSEE Cement (Siam City group) to invest in palletisers, shipunloading equipment and a larger warehouse distribution network. Thusith Gunawarnasuriya, director of Procurement and Logistics at Siam City Cement (Lanka), ...
CDC changes leadership at ARM to halt the decline
British development financiers CDC have brought in Sophia Bianchi and Rohit Anand as new directors at ARM Cement, to replace replaced Ketso Gordhan and Pepe Meijer, after seeing its investment in Kenya’s Athi River Mining (ARM) plummet buy more than 90 per cent in just three years. CDC reported a KES6.9bn (US$68m) loss for the 2017 financial year on declining sales. The UK-based investment ...
Bestway Cement's Farooqia plant completes 6000tpd expansion project
Bestway Cement Ltd has completed the installation of its Farooqia plant brownfield expansion project, in Khyber Pakhtunkhwa province. The expansion also includes a 9MW waste heat recovery power plant. According to Bestway Cement's Company Secretary and General Counsel, Sehar Husain, the project has completed in a record time of 14 months. The Farooqia Line II commenced production on 31 May 2...
Battambang Conch Cement inaugurates plant in Cambodia
The Battambang Conch Cement Co Ltd inaugurated its US$230m plant in Battambang province, Cambodia, on Thursday. The facility was constructed within 18 months and is expected to have a total production capacity of 5000tpd, according to the Phnom Penh Post. "Our cement factory, together with others in the industry, can supply the market’s needs and compete with imported cement on quality and...
Tokyo Cement suffers LKR285m loss
Sri Lanka's Tokyo Cement Co (Lanka) Plc has reported a LKR285m (US$1.79m) loss in the March 2018 quarter compared with a profit of LKR911m a year ago. Group sales fell two per cent to LKR8.8bn over the period, according to interim accounts filed with the stock exchange. In the year to 31 March 2018, Tokyo Cement made a net profit of LKR2.27bn although sales were down one per cent to LKR36bn.
Caribbean Cement signs two loan agreements with Cemex España
Caribbean Cement Co Ltd has signed two loan agreements valued at US$102m with Cemex España, which will be used for the repurchase of assets at its Rockfort facility. The loans will be mainly used to acquire kiln five and mill five, according to The Gleaner. The assets will be acquired from the company’s immediate parent, Trinidad Cement Ltd. "The remainder, if any, will be used for general c...
Attock Cement seeks gypsum/laterite supplier
Attock Cement Pakistan Ltd (ACPL) has invited a tender for the bulk supply of gypsum and laterite in 2018-19. According to the company announcement, offers are invited for the supply of approximately 120,000t of gypsum and 120,000t of laterite between July 2018-June 2019 at its cement plant located at Hub Chowki, Lasbela, Balochistan. Bids are due on 21 June 2018. Sales review 9MFY18 In ...
Lafarge Czech Republic plans to invest CZK100m in upgrades
Lafarge Czech Republic has announced that it plans to invest CZK100m (US$4.54m) in plant upgrades. Half of the total amount has already been used in the reconstruction of the chimney flue gas filter into a more modern version which is 20 times more efficient, according to the press release. The company also plans to invest CZK40m in technology for storing, handling and dispensing alternative...
National Cement Co makes net loss of EGP744m before tax
National Cement Co of Egypt recorded a net loss of EGP744m (US$41.5m) before taxes during the first nine months of fiscal year 2017-18, compared to a loss of EGP615.6m in fiscal year 2016-17. The company's financial indicators showed a total loss of EGP486.1m during the same period of the current fiscal year, compared to EGP422.9m in the nine months of the previous year. The company att...
Dangote Cement begins new Management Trainee Programme
Dangote Cement Plc has begun the training of its newly-hired managers, who were inaugurated at the weekend at the Dangote Academy Ikeja, Lagos. They are being trained under a new scheme, the Management Trainees Programme (MTP). The Group Managing Director of Dangote Cement Plc, Joseph Makoju, said the management scheme was "to sustain our exponential growth, competitiveness and market leaders...
Orient Cement terminates agreement with Jaypee Group firms
India’s Orient Cement has terminated the agreement to acquire two assets, Bhilai Jaypee Cement Ltd and the Nigrie cement grinding unit, from Jaypee Group firms for a total investment of INR19.46bn (US$288.23m), according to the Hindu Business Line. Orient Cement had signed a share purchase agreement (SPA) with Jaiprakash Associates Ltd (JAL) for 74 per cent equity shares of Bhilai Jaypee Cem...