Cement News tagged: Corporate
McInnis Cement could be up for sale
A Canadian pension fund has hired advisers to explore the possible sale or partial sale of McInnis Cement, reports Bloomberg. Caisse de Depot et Placement du Québec and its partners have hired advisers to explore options to sell part or all of McInnis Cement. McInnis Cement project was the first new cement plant to serve eastern Canada and New England in more than 50 years when it opened l...
Sagar Cement sees 65% sales increase
Sagar Cement (SCL) saw a 65 per cent rise in sales in December 2017 as the India-based company reported sales of 254,348Mt, compared with the year-ago period. The advance in sales volumes was from a low base, formed in December 2016 on the back of demonetisation. In addition, a robust offtake in key markets such as Andhra Pradesh and Telangana, which account for 45 per cent of the company’s...
Cemex Colombia to pay SIC fine, object via litigation
Cemex Colombia announced that it proceeds to pay the value of the fine imposed by the country's Superintendency of Industry and Commerce (SIC) in September 2013, amounting to the sum of US$25.3m. The investigation is in line with Resolution 81391 of 11 December 2017 which saw the SIC fine Cemex Colombia, along with Cementos Argos and Holcim Colombia) and to six individuals for price fixing ...
Deadline for bidding on Binani Cement extended
The deadline for bidding on Binani Cement, which is currently undergoing the bankruptcy process, has been extended until 15 January 2018, reports DNA India. The Rajasthan-based company has attracted a large number of bids and is taking potential investors to visit its plant in Dubai. The company owes banks approximately INR40bn (US$631m) with the total amount owed to lenders reaching about...
Lafarge Africa to sell SA unit?
Lafarge Africa could put up its South African unit for sale, according to analysts at Exotix Capital. Proceeds of the sale could then be used to strategically shore up and stabilise the company’s Nigerian business, kickstarting the region’s merger and acquisition activity. The South African cement sector has become increasingly competitive while in the rest of Africa, PPC, Lafarge, Dangote,...
HeidelbergCement on path to consolidate Italian market
HeidelbergCement's acquisition of Cementir Italy via its Italcementi subsidiary will make HeidelbergCement the Italian leader with a combined market share of around 38 per cent, ahead of Buzzi Unicem with 22.5 per cent, according to CIM-CIC Market Solutions. The research house also reports that the antitrust authority analysed the combined positions of the two entities (Italcementi and Ce...
Summits appoint a new COO
Karl H Watson Jr has been appointed Executive Vice President and Chief Operating Officer of Summit Materials,Inc, succeeding Douglas C Rauh. Tom Hill, CEO of Summit, stated: "We are very pleased to have Karl join Summit. I have known him for years and his depth and breadth of experience in our industry will add impactful leadership to our already strong team. I am confident that Karl will m...
Lafarge Malaysia to step up cost and efficiency drive
Following its MYR135m net loss for 9MFY17, Lafarge Malaysia confirmed it will pursue ongoing strategic initiatives to achieve profitability in the near term, according to Focus Malaysia. The company expects to optimise its costs as it plans to source petcoke directly from the Middle East, which is forecast to lead to savings of 5-10 per cent. The current modernisation project at its Raw...
Domicem appoints new CEO
Colacem-owned Domicem has appointed Adriano Brunetti as its new CEO as part of the company’s drive to transform into a sustainable cement producer in the Dominican Republic. Mr Brunetti has worked for more than 25 years in Grupo Financo. Sergio Nin Maura, commercial director at Domicem, commented on the appointment: "The appointment of our new director represents a very important step for t...
Italcementi completes Cementir Italia acquisition
HeidelbergCement subsidiary Italcementi has completed the acquisition of Cementir Italia. All conditions for the closing of the transaction have been fulfilled following the approval by the Italian competition authority. "With the acquisition of Cementir Italia we significantly improve our nationwide presence in Italy," explains Dr Bernd Scheifele, chairman of the Managing Board of Heidelbe...
CRH completes US distribution operation divestment
CRH plc reached an agreement to divest its Americas Distribution business for a total cash consideration of US$2.63bn on 24 August 2017, and the company has announced today that this transaction is now complete. The company said the price achieved from the sale of its US distribution operation to Beacon Roofing Supply represents 16 times earnings before interest, tax, depreciation and amortis...
Timothy Kuebler becomes country manager of Giant
Timothy Kuebler has joined Elementia as the country manager of Giant, reporting to the cement division. Mr Kuebler has more than 30 years of experience in the cement industry. His previous position was as senior vice president for Titan (cement and aggregates). Additionally, Mr Kuebler has worked for Lehigh Cement Company as vice president of sales and marketing in the USA and Canada and he...
Jammu and Kashmir Cement's Samba plant still not fully operational
Jammu and Kashmir Cements Ltd's (JKCL) Samba grinding and packaging unit, which was commissioned in September 2015, is still not fully operational. Output was recorded at just five per cent of its performance guarantee during a recent test, claims the Daily Excelsior. Initial construction of the 300tpd factory, which was overseen by India-based Ashoka Gears on a turnkey basis, was completed...
Construction at Maple Leaf Cement Factory Ltd site put on hold
Maple Leaf Cement Factory Limited (MLCF) has announced that construction work on a 7300tpd capacity expansion has been put on hold, following an order issued by the Environmental Protection Agency (EPA), Government of Punjab. MLCF has stated that it met all statutory obligations before commencing construction, and has therefore filed a writ petition to Lahore High Court. The dry-process c...
Dangote Cement Nepal is denied mining licence
Dangote Cement Nepal Pvt Ltd has lost its attempt to win an open bid for a mining licence in Nepal. It has been technically disqualified for the detailed exploration of three limestone mines, after its proposal lacked details about the experienced hands needed for such work. However, Dangote group General Manager, Hikmat Thapa, said: “We are saddened by news that we are disqualified techni...
Richard Curtis retires as CMS Group MD
Richard Curtis has retired from his position as Group Managing Director of Malaysian cement producer, Cahya Mata Sarawak Bhd (CMS) as of 1 January 2018. He will remain on the Board of CMS as non-independent non-executive director. Y A M Tan Sri Dato' Seri Syed Anwar Jamalullail, CMSB’s Group Chairman, said: "On behalf of everyone at CMS, I would like to thank Dato' Richard for his stewardship...