Cement News tagged: Corporate
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...
Eagle Cement breaks ground on Cebu Line 4
Eagle Cement Corp has broken ground on the fourth production line at its Cebu plant. The Cebu Line 4 is set for completion in 2020 and will include a 2Mta integrated cement plant, port facilities and cement terminals to serve the islands of Visayas and Mindanao. Currently, the company has two lines producing about 5.1Mta of cement and serves the greater Luzon markets. Eagle is also aiming t...
Vietnam's Vicem sells 20.93Mt of cement and clinker in 10M17
State-owned Vietnam Cement Industry Corp (Vicem), the country’s leading cement producer, sold 20.93Mt of cement in the first 10 months of 2017. The volume reflects a drop of 1.1 per cent YoY. Vicem cement production also declined 3.6 per cent YoY in 10M17 to 17.75Mt with output in October at 1.86Mt, down 8.6 per cent when compared with October 2016. However, clinker output advanced 3.8 per ...
Cement sector helps thyssenkrupp to its highest order intake in five years
ThyssenKrupp has reported double-digit gains order intakes for 2016/17. The cement sector helped the Industrial Solutions segment achieved a turnaround in order intake with the business area recording its highest figure in five years. With adjusted EBIT of EUR1910m for the group and EUR1722m for the continuing operations (excluding Steel Americas), the group exceeded its earnings targets, rep...
Insee Cement launches competition
Insee Cement has launched a competition for customers who buy Sanstha Cement. The ‘Jumbo’s weight of cement’ competition offers the chance to win LKR50,000 (US$325) worth of Sanstha Cement in a daily draw. The grand prize is an ‘elephant’s weight of cement’, worth LKR1m according to the Daily Mirror. The daily draw will be open for 45 days. "People from lower and middle income families of th...
Sanghi Industries sees fall in fuel cost
Sanghi Industries Ltd has seen a fall in fuel and power cost in the September quarter, contradicting the trend of rising fuel prices across India. Sanghi Industries has benefitted from its close position to limestone mines and the increased use of lignite for fuel and power, according to Mint. The Indian government recently reduced the Goods Sales Tax (GST) on lignite to five per cent from e...
Dandot Cement loss increases in 1QFY17
Pakistan's Dandot Cement Co Ltd (DCCL) reported a loss after tax of PKR-110m in the first quarter ended 30 September 2017,compared to a loss of PKR-64m in 1QFY16. Net sales declined 43.6 per cent to PKR289m in 1QFY2017 from PKR512m in the year-ago period. Distribution costs advanced from PKR0.8m to PKR1m YoY while administrative expenses increased from PKR4m to PKR5.6m.
Saudi Cement Group joins WCA
Saudi Cement Group has joined the World Cement Association. The cement producer, which is one of the largest in Saudi Arabia, commands a capacity of around 11.5Mta. In addition, the company runs its own port terminal in the country, enabling it to load around 2Mta of cement and clinker onto ships.
CRH sees a 3% revenue increase in 3Q17
CRH has reported a three per cent increase in revenue for the third quarter of 2017. The group's EBITDA has also risen two per cent YoY for the 3Q. The company’s trading performance has particularly benefitted from underlying growth in the Americas throughout the period. Elsewhere, the 3Q results from Europe have remained positively consistent with the rest of the year while performance in As...
Binani Cement sale attracts multinationals and local producer interest
Binani Cement has attracted interest of as many as 15 bidders, say senior officials at the comapny, including CRH, Lafarge and Heidelberg Cement as well as local players India Cement, Orient Cement, Ramco Cement, Shree Cement, UltraTech and Piramals. The Bank of Baroda referred the Binani Cement, a subsidiary of Binani Industries, to the National Company Law Tribunal in July after it faile...
Cementos Argos launch Soluble Smart Pack Cement
Cementos Argos SA along with its local partners and distributor National Hardware (Guyana) Ltd launched its latest innovation, Soluble Smart Pack Cement, on Friday. A demonstration of the product was carried out at National Hardware, showing how the cement bag becomes mortar. The aim is to provide more environmentally-friendly ways of disposing of the cement bags. Argos said that: "innova...
Italy's Antitrust Authority approves Cementir Italia sale
The Italian Antitrust Authority (AGCM) has approved the sale of Cementir Italia and its subsidiaries Cementir Sacci SpA and Betontir SpA to Italcementi. Following the closing of the transaction, which is expected in the first days of January 2018, Italcementi will be required to adopt certain structural remedies, including the divestiture of some plants and behavioural measures. Italcementi...
Karsdorf Cement plant sale to be abandoned
Schwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of ...
Than Taw Myat Cement adds second kiln line
Than Taw Myat Company has doubled its production capacity to at its cement plant in Kyaukse township, Mandalay, Myanmar, to 10,000tpd with a second 5000tpd kiln line. The factory, which produces Double Rhinos cement, is now the largest cement production factory in Myanmar. The new production line, which was constructed by China's Sinoma International Engineering, was completed across 15,00...
Steppe Cement repays bonds
Kazakh cement producer Steppe Cement has repaid bonds issued in November 2012, according to StockMarketWire. The bonds totalled KZT1.49bn (US$4.48m) and were paid out of the cash flow of the company. The repayment of the bonds reduced the net debt of Steppe Cement to US$16m.