Cement News tagged: Corporate
Chile's Briones family hikes Bío Bío stake
The Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. ...
Cemento Polpaico sees CLP-2.28bn loss in 9M17
Chile’s Cemento Polpaico has reported a loss of CLP-2.281bn (US$3.58m) in the January-September 2017 period. This compares with a profit of CLP4.1534bn in the year-ago period. In terms of revenues, the company reported a figure of CLP96.337bn, down 11.4 per cent when compared with CLP108.67bn in 9M16.
Cement plant accused of using journalists to improve image
A cement plant is alleged to have used images of visiting journalists in promotional material, apparently in an attempt to bolster its public image, according to the Myanmar Times. A billboard was placed outside Mawlamyine Cement Ltd's factory featuring an image of the journalists with the caption, ‘The local reporters are visiting our company as observers’. Although monthly environment...
Joey Ghose new CEO of Raysut Cement
Oman’s Raysut Cement Co has appointed Joey Ghose as new CEO of the company, effective 2017, reports the company in a filing to the Muscat Securities Market. It is expected Mr Ghose will bring his extensive experience in the cement industry to bear as he addresses the challenges faced by the company. Changes to the income tax law in Oman resulted in a 60 per cent fall in 9M17 profit for the ...
Al Jouf Cement Company to export 72,000tpa to Jordan
Al Jouf Cement Company signed a sales and marketing contract with the Saudi Industrial Export Company (SIEC) on Sunday, according to a statement released on Tadawul. This follows the signing of a memorandum of understanding back in October. The agreement will see 72,000tpa of cement exported to Jordan. The financial impact of this contract will be announced in 1Q18.
Paraguay's INC notes 9% rise in sales in October
Paraguay’s Industria Nacional del Cemento (INC) has sold 10,876,593 bags of cement in the first 10 months of 2017, a drop of 17.6 per cent YoY, according to the company’s sales department. In October, sales improved by nine per cent YoY from 982,868 bags in October 2016 to 1,075,196 bags in October 2017. Output is estimated to have increased by around 45 per cent and sufficient to cover...
Anhui Conch to resume Indonesian project with US$240m credit
Anhui Conch Cement has issued guarantees for loans likely to include US$90m facility provided by the company’s Indonesian branch, according to Anhui Conch investor relations. This is in addition to the 10-year US$151.5m loan applied for by its subsidiary Pabrik Semen China Conch from the Export-Import Bank of China (EIBC) in support of the planned resumption of the development of Pabrik Semen ...
Oman Cement seeks Brazilian investors for new plant
Oman Cement Co (OCC) visited Brazil to seek partners for a new cement plant in Duqm, an industrial and port free trade zone in Oman. The company’s Chairman, Abdullah Abbas Ahmed, visited the Arab Brazilian Chamber of Commerce on Friday. According to Mr Ahmed, the output capacity of the company’s current plant can be expanded, but the idea of the project in Duqm is to build a plant that would...
Kohat Cement receives credit for new 7800tpd line
Kohat Cement Co Ltd has informed Pakistan Stock Exchange Ltd that a letter of credit for setting up 7800tpd grey cement line has been established. On 6 June 2017 Kohat Cement Co had decided to set up a new 7800tpd cement production line at its existing Kohat plant in Punjab province, along with a waste heat recovery (WHR) power plant. The company currently has a capacity of 2.8Mta of gr...
Holcim Philippines uses cigarettes as fuel
Cigarettes seized due to excise tax liability will now be used as a fuel by Holcim Philippines. The 9496 cases of cigarettes worth PHP142.4m (US$2.8m) will be burnt over the course of 15 days, according to SunStar. The Department of Finance has allowed their use as an alternative fuel by Holcim Philippines Davao. "I would like emphasize that this is not the last incineration that will happe...
Cemex Go - a digital customer platform is launched
Cemex has launched a fully-digital customer integration platform called Cemex Go. The platform combines Cemex's industry leadership with cutting-edge digital innovation. Cemex Go is a multi-device providing real-time, detailed information for order placement, live tracking of shipments, and managing invoices and payments for Cemex's main products, including bagged and bulk cement, ready-mix co...
PPC board rejects Fairfax offer
The board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalle...
Lafarge Africa buys out shareholders of Ashaka Cement
Lafarge Africa has bought out the minority shareholders of Ashaka Cement and issued 85.26m shares as part of a share exchange agreement, reports The Nation. The Nigerian cement manufacturer will now become a wholly-owned subsidiary of Lafarge Africa. The voluntary delisting of Ashaka Cement from the Nigerian stock exchange and its subsequent consolidation by Lafarge Africa, will offer share...
PPC 1H17 earnings strong on robust Zimbabwe and Rwanda sales
South Africa’s PPC Ltd reported in its inaudited 1H17 accounts a 36 per cent YoY rise in first-half earnings, supported by a strong performance in Zimbabwe and Rwanda. Headline earnings per share increased from ZAR0.14 to ZAR0.19 per share. Group revenue edged up one per cent to ZAR5.188bn from ZAR156m in the comparable year-ago period, while EBITDA advanced four per cent to ZAR1.2bn. Volum...
Dangote Cement inaugurates plant in Rep of Congo
Dangote Cement will inaugurate its 1.5Mta cement plant in the Republic of Congo on Thursday. The plant is expected to create approximately 1000 jobs and will become Dangote's 10th fully-operational plant in Africa. The US$500m works produced its first bag of cement on 7 August. Unaudited 3Q results show that the new plant has almost doubled the size of the cement sector in Congo, according ...
Cimaf announces 0.5Mta plant in Bouaké, Côte d'Ivoire
Cimaf continues to expand its footprint in Côte d’Ivoire as it started its second production unit in the country in the port city of San Pedro on 20 November. Moreover, Cimaf announced the construction of a 0.5Mta cement plant in Bouaké, central Côte d’Ivoire. The XOF25bn (US$45.1m) works is expected to be operational in 2019. Cimaf expects to generate an additional 250 permanent jobs, acco...