Cement News tagged: Corporate
Saint-Gobain acquires GCP Applied Technologies
Saint-Gobain has acquired all of the outstanding shares of GCP Applied Technologies for US$32/share, in cash, in a transaction valued at approximately US$2.3bn. GCP will delist from the New York stock exchange. The business combination has been unanimously approved by the Boards of Directors of Saint-Gobain and GCP Applied Technologies respectively. “Saint-Gobain is an ideal strategic part...
PT Semen Indonesia reports 2% drop in 1H revenues
PT Semen Indonesia saw a 2.1 per cent slip in total revenues to IDR15.876trn in the 1H22 when compared with the year-ago period. The company attributed the decrease mainly to lower sales volumes, which were down by 12 per cent YoY to 16.957Mt. Domestic sales volumes were down 2.6 per cent YoY to 13.972Mt as demand contracted due to the Lebaran holidays after a two-year gap during the pande...
Ciments de Bizerte reports TND12m loss in 1H22
Tunisia-based Ciments de Bizerte posted a loss of TND11.9m (US$3.6m) in the first half of 2022 when compared with a profit of TND1.3m in the 1H21. The company’s operating result is a loss of TND7.2m in the 1H22 when compared with a profit of TND6.8m in the 1H21. Revenues were down to TND57.8m in the 1H22 from TND72.3m in the year-ago period. The company has attributed the fall due to a d...
LafargeHolcim Morocco reports 27% drop in 1H net income
LafargeHolcim Maroc posted a 27 per cent YoY drop in net income to MAD759m (US$69.5m) at the end of June 2022. Consolidated turnover stood at MAD4004m, level with the year-ago period as the company faced unfavourable market conditions and a sharp rise in input prices. Operating income was down 17 per cent to MAD1464m as fossil energy prices surged and were only passed on to prices partly...
Semen Indonesia integrates Semen Baturaja
PT Semen Indonesia Tbk (SMGR) announced it will acquire 7.49bn shares, or a 75.51 per cent stake, of PT Semen Baturaja Tbk (SMBR). As a result, Semen Indonesia will become the owner of Semen Baturaja. The step is based on Indonesian Government Regulation No 33 of 2022, issued on 21 September, concerning the Addition of State Equity Participaton of the Republic of Indonesia into the Shar...
Cauldon plant celebrates its 65th year anniversary
It was a special occasion at Aggregate Industries ’ Cauldon Cement plant this month as the business held a jam-packed two-day event to mark 65 years of cement manufacturing. Founded in 1957, the Cauldon plant, Staffordshire, was the very first dry-process cement plant to be installed in Britain and played a key role in the modernisation of the UK cement industry, says Aggregate Indust...
Kohat Cement's profit increased by 44% in FY21-22
Kohat Cement Co Ltd (KOHC) has announced an increase of 43.7 per cent in its profit on a YoY basis during its financial results for the year ended 30 June 2022. It reported a profit after tax of PKR5.024bn (US$21.31m) compared to PKR3.497bn earned in the year's corresponding period. The major factor responsible for the increase in profit was growth in sales. IMS Research has added that KOHC...
Sagar Cements welcomes new chairman
India's Sagar Cements Ltd (SCL) has appointed Kalidindi Venkata Vishnu Raju as chairman, effective from 24 September 2022. He succeeds K Thanu Pillai. Mr Vishnu Raju is also on the board of Anjani Vishnu Allied Services as a whole-time director and was also previously on the board of Anjani Portland cement as chairman and managing director from 1999-2014. SCL currently has an installed pr...
Holcim appoints Carmen Díaz as MD LafargeHolcim España
Holcim has appointed Carmen Díaz as managing director of its subsidiary LafargeHolcim España . She will succeed Isidoro Miranda, who will continue to be linked to the group as senior advisor, a position he will combine with the presidency of CEMBUREAU. Carmen Díaz, a chemical engineer from the University of Oviedo and PDG (General Management Programme) from IESE, joined the company in 200...
Oman Cement commissions WTE plant
As part of efforts to reduce its reliance on natural gas, Oman Cement plans to commission a waste-to-energy (WTE) plant, using shredded scrap tyres. The plant is expected to be commissioned by the end of 2022. According to Oman Daily Observer, the plant is part of a fuel diversification strategy adopted by the cement company, which is 51 per cent owned by Oman Investment Authority (OIA), ...
Dangote revives plans to open Kenyan factories
While attending the inauguration of Kenya’s fifth President Dr William Ruto, Aliko Dangote revealed that he wants to revive plans for two new cement plants for Dangote Group in Kenya. The two cement plants would have a combined capacity of 1.5Mta. Earlier in 2017, Aliko Dangote registered two companies, Dangote Cement and Dangote Quarries Kenya Ltd, in Kenya with operations in Nairobi and...
East African Portland Cement Co restarts plant after kiln shell upgrade
East African Portland Cement Company (EAPCC), part of Holcim, has restarted its 1.4Mta Athi River cement plant after replacement of a faulty kiln shell. According to the company,16m of damaged kiln shell has been replaced with a new section, at a cost of KES500m (US$4.12m). Oliver Kirubai, managing director of EAPCC, said that the upgrade is in line with the company’s recently-launched fiv...
Qassim Cement signs MoU for proposed acquisition of Hail Cement
Qassim Cement Co (QCC) signed a non-binding memorandum of understanding (MoU) with Hail Cement Co (HCC) to commence discussions for QCC to acquire all issued shares of HCC. In a statement to Tadawul, QCC said both parties will proceed with the due diligence in relation to the proposed transaction. If the deal completes based on the exchange ratio, the total consideration to be paid by Q...
Holcim completes Cantillana acquisition
Holcim has completed the acquisition of Cantillana, a specialty building solutions market leader in Belgium with 2022 estimated net sales of EUR80m. Cantillana offers a broad range of façade construction and external thermal insulation systems. This further strengthens Holcim’s position in building renovation and energy efficiency solutions, building on the recent acquisitions of PRB Group ...
Empire Cement Factory under fire from local residents
The Empire Cement Factory (ECF) in Ghana is coming under pressure from local residents who claim the company is failing to adhere to the Environmental Protection Agency’s (EPA) directive to cease operations. According to The Ghanaian Times, instead of halting operations, the plant is believed to have started production of cement “at an alarming and accelerated speed,” said Eddie Quaynor...
Udaipur to raise funds through NCDs
India’s Udaipur Cement Works Ltd has announced that it will raise INR3500m (US$43.2m) in a private placement of non-convertible debentures (NCDs). The proposed date of allotment for 3500 NCDs with a face value of INR1m (US$12,356) each is 7 October 2022, with a maturity date of 16 March 2025. According to The Hindu Business Line, the initial coupon rate will be 7.45 per cent per annum. U...