Cement News tagged: Corporate
Lafarge may need to divest of more Indian assets due to mining regulations
Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mta of assets in India, Business Standard reports, citing an investment banker familiar with the development. This decision comes after Lafarge's plan to sell its 5.15Mta cement capacity in Chhattisgarh and Jharkhand to Birla Corp has hit a hurdle due to mining regulations. Invest...
Pakistan: Attock Cement selects Hefei for new plant
Attock Cement Pakistan Ltd has awarded a contract to Hefei Cement Research and Design Institute (China) for a new 4000tpd plant in Hub, Balochistan, the cement producer said. "The management of Attock Cement has concluded an agreement for setting up new 4000tpd cement manufacturing plant with all standard parts and accessories with Hefei Cement Research and Design Institute (China)," the com...
Algeria’s GICA plans to produce 23Mt in 2019
Algerian cement producer, Groupe Industriel des ciments d’Algerie (GICA) expects to increase its cement capacity in four plants and build a further two works. This will raise capacity from the current 11.5Mta to 23Mta in 2019. Expansion projects at the works of Aïn Kebira and Chlef are forecast to be completed in September this year, increasing capacity to 1.5Mta. As a result, GICA expects ...
China Shanshui Cement regains control of Shandong Shanshui Cement
China Shanshui Cement Group Ltd said Monday it has regained control of Shandong Shanshui Cement Group Co, but three former directors of Shandong Shanshui and a group of people continue to 'illegally occupy' the unit's head office and five factories. China Shanshui did not specify why Zhang Caikui, Zhang Bin and Huang Kehua have occupied the premises of Shandong Shanshui but said they have i...
Cimpor sells a minority stake in Paraguay producer
Cimpor has sold a 16 per cent stake in Ygauazu Cementos of Paraguay for a total of EUR32m, the company announced in a statement. The sale reflects a 14x EBITDA multiple. Cimpor retains a controlling stake with a 51 per cent participation, with the remaining share capital to be held by already existing Paraguayan partner Concret Mix. The sale of the minority stake is among many of the self-h...
ARM in talks with international institutional investor
Kenyan producer ARM Cement is in ongoing talks with a strategic investor to support its expansion plan. The investment will be in the form of preference shares which may be converted into an equity stake. “ARM Cement Ltd is currently in discussion with an international institutional investor who intends to make an investment of up to US$125m (KES12.7bn) equity investment in the company thr...
New Cameroon plant agreement signed
The Switzerland-based Mira company is reportedly looking to construct a new cement plant in Douala, Cameroon, under an agreement signed with the government, local press have reported citing sources at the Ministry of Industry, Mining and Technological Development. According to the article published by StarAfrica, the company should benefit from the provisions on incentives for private inves...
Hahn & Company to buy Ssangyong Cement
Hahn & Co, Korea’s leading private equity group, has been selected as the preferred bidder for a 46.14 per cent stake in Ssangyong Cement. Hahn & Company already owns part of the company's stake so its actual target will be 36.8 percent. Ssangyong Cement was put on sale in October 2015. Hahn & Company and Hanil Cement were the strongest contenders, but the private equity fund was known to out...
Cementir outbids Buzzi to buy Sacci
Shares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in Marc...
Cimpor sells quarries in Brazil
Polimix Concreto, Ltda., a Brazil-based producer of cement and concrete products, has acquired the Guarulhos and Barueri quarries in Sao Paulo, Brazil from Cimpor - Cimentos de Portugal SGPS SA for BRL100m (US$25.35m). The transaction will allow Cimpor to strengthen its capital structure, increase profitability, and to focus on its strategic development.
Shansui Cement management in turmoil
China Shanshui Cement Group, which last month defaulted on a CNY2bn bond and saw its entire board ousted early this month, says it has reported the loss of key documents, data and company stamps to Hong Kong Policy as management of the company was plunged into further turmoil. Meanwhile its Shandong unit warned it may default on another CNY1.8bn (US$277m) bond due to mature on January 21. Th...
Jaypee Group’s cement assets up for grabs
Jaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information me...
Spain: Matteo Rozzanigo appointed new president of AFCA
Matteo Rozzanigo, CEO of the Spanish arm of FYM-Italcementi, has been appointed as new president of the Andalusian cement producers’ association (AFCA). Mr Rozzanigo graduated from the Universidad Politécnica de Milán as industrial engineer and held posts mainly in Italcementi as Near East Director and also held directorships in International Development and Near East Development. He succeeds...
CRH meets with Sinoma Group
John Watkins, country director China of CRH met with Peng Jianxin, president of Sinoma Ltd, on 18 November 2015. During the meeting both sides exchanged views on the current situation of China's regional cement industry, the prospects for the international market in the building materials industry and the further strengthening of cooperation between the two sides, Sinoma stated on its website....
Anti-trust authority approves Buzzi deal
Italy's Antitrust Authority has approved Buzzi Unicem's offer to purchase the SACCI business unit and informed the Italian cement producer that it will not to open an investigation about the purchase transaction of SACCI SpA (SACCI). Buzzi Unicem is now clear to proceed further with the acquisition. The Buzzi Unicem offer remains under review by SACCI and the bodies of the composition proceed...
USA: Lehigh Hanson EPA hat-trick
Lehigh Hanson Inc announced that three of its cement plants have earned the US Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR certification for 2015. The company’s cement manufacturing plants in Leeds (AL), Union Bridge (MD) and Glens Falls (NY) perform within the top 25 per cent of cement plants nationwide for energy efficiency and meet the EPA's strict energy efficiency...