Cement News tagged: Corporate
BK Birla Group's Kesoram Industries considers new grinding plants
BK Birla group's diversified Kesoram Industries already operates 7.5Mta of cement capacity with its wtwo cement plants near Sedam and Basantnagar, but it has the potential to acquire 700 acres of limestone reserves at Gulbarga, which could sustain new production plants. Kesoram will analyse whether to construct grinding units on the Gulbarga site, where it owns the mining rights, said Tridib...
Pablo Libreros appointed Aggregate Industries’ Growth and Innovation Director
As part of its ongoing commitment to being the foremost business in the construction products industry, Aggregate Industries has appointed Pablo Libreros as the new Growth and Innovation Director. With a considerable experience in the industry, Pablo has joined Aggregate Industries after having worked within LafargeHolcim Group, in South America for the past six years. Most recently, Pablo ...
Moody's upgrades Eagle to Investment Grade
Moody's Investors Service upgraded the senior unsecured debt ratings of US-based Eagle Materials Inc to Baa3 from Ba1. The rating outlook is stable. The upgrade reflects Moody's view that Eagle Materials has the willingness and ability to defend its investment grade rating in a downturn. The upgrade is also supported by strength in the company's financial ratios, "which are among the bes...
Holcim New Zealand posts full-year loss
Holcim New Zealand, reported a loss of NZD12.3m (US$8.9m) for 2016 from a profit of NZD80m in the previous year, as it transitioned from ceasing cement production from its Westport facility to becoming an importer, thereby incurring higher distribution costs. "We had higher distribution costs due to the transition of our business away from manufacturing," a company spokeswoman said. "Our...
Ube Industries increases stake in Tokyo Cement
Japan-based Ube Industries' Singapore subsidiary Ube Singapore Holdings has acquired a further 10.62m shares in Sri Lanka-based Tokyo Cement Company Lanka Plc, for LKR764.6m (US$5m), a stock exchange filling said. As at 31 March 2017, Ube Singapore Holdings held a share of over two per cent (4.4m shares) in Tokyo Cement. With this new acquisition its shareholding has increased to over 10 per...
Martin Marietta Materials to acquire Bluegrass
Martin Marietta Materials Inc and Bluegrass Materials Company announced that they have entered into a definitive agreement under which Martin Marietta will acquire aggregates company Bluegrass for US$1.625bn in cash. Bluegrass is the largest privately-held, pure-play aggregates company in the United States, with a portfolio of more than 125 years of high-quality reserves. Bluegrass operates 2...
LafargeHolcim appoints new Group Head of R&D
LafargeHolcim announces the appointment of Heike Faulhammer (50) as Group Head of Research & Development, effective July 1, 2017. Heike Faulhammer joins LafargeHolcim from Arkema, one of France’s leading chemicals producers, where she has spent 20 years in research, production, product innovation-related functions and sustainable development. In particular, she acted as a Director at Arkema...
Daehan acquired by South Korea's leading producer
Ssangyong Cement Industrial Co of South Korea has purchased Daehan Cement Co, the country’s largest blastfurnace slag cement producer at KRW265bn (US$232.8m). The acquisition will enable Ssangyong Cement to secure its leadership over Hanil Cement Co that recently acquired Hyundai Cement Co, a smaller rival. The deal entitles the cement manufacturer to take over Daehan Cement and Daehan Sla...
Fauji Cement's damaged line will be operational in 1QFY18
According to market sources, Fauji Cement's (FCCL) damaged 7500tpd Line II is expected to be operational in 1QFY18. Similarly, construction of FCCL's 7.68MW waste heat recovery power plant is under way and likely to start in early-FY19. Situated in Jhang Bahtar village, Attock district, FCCL's CF silo cement production Line II collapsed in May 2016. As a result, the line's coal mill, a sub...
Lebanon: Chekka inaugurates new bag filter
Cimenterie Nationale has inaugurated the new bag filter at its Chekka plant. The new filter will reduce SOx and NOx emissions to 15mg/m3, well below the international norm of 50mg/m3. At the ceremony, which was attended by more than 200 distinguished guests, Cimenterie Nationale’s CEO, Pierre Doumet, said the new filter was testimony to “a permanent modernisation” of the works, a plan start...
Cementos Molins President passes away
President of Cementos Molins, Casimiro Molins Ribot, passed away aged 97 on 25 June in Barcelona, Spain. He had been member of the company board of Sant Vicenç dels Horts for 71 years. In 1945 Mr Molins Ribot was appointed Board member and Secretary to the cement company which his grandfather, Juan Molins Parera, founded and led the Board since 1972. He was appointed President in 1986. ...
Taiwan plans to lower cement cap on exports
The government of Taiwan plans to lower the cap on Taiwan's cement exports from over 20 per cent of total output to 15 per cent to help protect the environment, Vice Minister of Economic Affairs Yang Wei-fuu has said. In response to concerns that the pursuit of aggressive cement export growth has come at the expense of environment, Yang said the ministry is devising an environmental impact a...
S&P puts Cemex ratings on Watch Positive
S&P Global Ratings has placed its 'BB-' global scale and 'mxA-/mxA-2' national scale ratings on Cemex on CreditWatch with positive implications. The recovery rating on all Cemex's rated senior debt remains at '3', which indicates that bondholders can expect a meaningful (50-70 per cent, in the higher band of the range) recovery in the event of a payment default. S&P writes: "Following our 3...
Yamama agrees raising credit facility limit
Yamama Cement announced that it has agreed with the National Commercial Bank (NCB) and Samba Financial Group to raise its sharia-compliant credit facility limit from SAR1bn to SAR3.6bn (US$266.6m to US$960m). The maturity date for the last instalments for these facilities is on 2 January 2025, the company said in a statement to the Saudi Stock Exchange. The new limits will be used to open n...
Trinetra minority shareholders challenge merger plan
Minority shareholders of Trinetra Cements, a subsidiary of India Cements, have approached India's National Company Law Appellate Tribunal (NCLAT), to challenge the planned merger of the two companies, Business Standard of India reports. Arvind Aggarwal and Ritu Aggarwal, who own around 2.4 per cent shares in Rajasthan-based Trinetra, have alleged there are various deficiencies in the merger s...
Buzzi Unicem strengthens position in Italy
Buzzi Unicem is expanding its position in northen Italy with the acquisition of Cementizillo SpA. A total of 47.9 per cent of Cementizillo’s share capital has just been acquired and the remaining 52.1 per cent will be purchased from Mr AG Zillo, the sole director, in early July. Some of the purchase price of EUR60m will be deferred, but only in respect of Mr Zillo, and an additional amount ...