Cement News tagged: Corporate
Cemex secures green financing
Cemex SA de CV has closed the amendment process under its facilities agreement, dated 19 July 2017. Cemex is extending US$1.1bn of term loan maturities by three years from 2022-25 and approximately US$1.1bn of commitments under the revolving credit agreement by one year from 2022 to 2023. Cemex is also prepaying US$530m corresponding to the July 2021 amortisation under the facilities agree...
Buzzi Unicem proposes mandatory conversion of saving shares into ordinary shares
Buzzi Unicem has announced its intention to convert savings shares into ordinary shares to streamline and simplifying the capital structure of Buzzi Unicem SpA, as well as at reducing corporate obligations and costs associated with the existence of different categories of shares. The Board of Directors of Buzzi Unicem SpA resolved to submit the proposal to shareholders for the mandatory con...
Taiwanese manufacturers report 9M20 results
Taiwan Cement Corp has seen a 3.7 per cent YoY fall in September revenue to TWD9.75bn (US$340.96m) from TWD10.12bn in the same month last year. In the first nine months of 2020, revenue declined 6.1 per cent to TWD82.25bn from TWD87.56bn. Elsewhere, Lucky Cement saw its September revenue advance 21.9 per cent YoY to TWD380.77m from TWD312.44m in the year-ago period. In the 9M20, revenue clim...
Hoffmann Green Cement signs supply contract with Cemex
Hoffmann Green Cement Technologies has signed a three-year contract with Cemex France to supply low-carbon and clinker-free cements on the ready-mix market. For the Ile-de-France and Aquitaine regions, Hoffmann Green will supply Cemex with the low-carbon cement resulting from its H-UKR and H-EVA technologies, enabling CO 2 emissions to be divided by five compared with the use of traditiona...
MI Cement Factory postpones expansion plan
The MI Cement Factory Ld (MICFL) in Bangladesh informed the Dhaka Stock Exchange (DSE) on 11 October that the Board of Directors of the company, have approved the postponement of setting up the sixth cement unit in central Bangladesh. They cited as reason the severe negative impact of COVID-19 on the Bangladeshi cement industry. Earlier in January 2019, the company announced its plan to...
Gebr Pfeiffer's Indian subsidiary celebrates 20th anniversary
On 26 September 2020, the oldest of Gebr Pfeiffer's seven international subsidiaries celebrated its 20th anniversary. Employees of Gebr Pfeiffer (India) Private Ltd, based in Noida, near New Delhi, met at 11 am local time in a virtual meeting to celebrate the foundation. The ceremony started with some video speeches. First of all, Mathias Dülfer, Chairman of the Gebr Pfeiffer parent compa...
Nuvoco celebrates 'International Day of the Girl Child'
Nuvoco Cement celebrated 'International Day Of Girl Child' on 11 October 2020. Nuvoco's commitment towards women empowerment and contribution to the life of adolescent girls was reaffirmed by Mr Joydeep Chatterjee, Nuvoco Vistas Corp’s Chief Projects & Corporate Affairs Officer. Mr Joydeep Chatterjee said: "Guided by one of its core values, care, Nuvoco has worked at making a responsibl...
Two applications for new capacity at Dera Ghazi Khan
Two of Pakistan's leading cement manufacturers are seeking environmental approval from the Environment Protection Department (EPD), Government of Punjab, for setting up a cement plant in Dera Ghazi Khan. According to official communications of the government department, DG Khan Cement Ltd and Pioneer Cement Ltd have both applied to set up new capacity in the same region. The approval is neces...
Ramco Cements inaugurates new grinding unit
India’s Ramco Cements has commissioned its new 0.9Mta grinding unit in Odisha. The plant represents an investment of INR7.1bn (US$97m). The company had been marketing around 1Mt of cement each year in Odisha, with the product being delivered from its manufacturing facilities in Andhra Pradesh. The unit uses German machinery and is equipped with energy-efficient motors and automatic packin...
JK Cement commissions 0.7Mta Gujarat unit
India’s JK Cement has commissioned and begun commercial dispatches from its new Gujarat unit. "The company has successfully commissioned 0.7Mta of grey cement grinding capacity at JK Cement works, Balasinor, Gujrat, unit of JK Cement and also commenced commercial dispatches today, ie 8 October 2020," said the company. The company has now completed its planned 4.2Mta grey cement capacity ...
Steppe Cement sees 5% revenue increase for the 3Q20
Kazakhstan’s Steppe Cement saw a 5.2 per cent YoY increase in revenue to KZT11.11bn (US$26m) for the 3Q20, up from KZT10.56bn a year earlier. However, its sales volume declined four per cent to 556,162t. Average prices for delivered cement advanced to KZT18,841/t from KZT18,157/t. Kazakhstan’s cement market is expected to expand two per cent YoY in 2020.
Universal Cement Corp sees 9% rise in revenue in 9M20
Taiwan’s Universal Cement Corp saw a 15.3 per cent YoY rise in revenue in September 2020 to TWD450.89m (US$15.73m) from TWD391.2m in the same month last year. In the first nine months of 2020, revenue increased 9.4 per cent to TWD3.89bn from TWD3.55bn.
INSEE Sri Lanka appoints new CEO
Gustavo Navarro has been appointed as the new CEO of INSEE Cement Sri Lanka. Mr Navarro took up the position on 1 September after Nanndana Ekanayake relinquished the CEO duties after three-and-a-half years in the position. Mr Navarro was previously CEO for Holcim in Serbia and Russia as well as CEO for CRH's Romanian subsidiary.
Supacem opens doors to Ghana's armed forces
Ghana's armed forces have been given a special a tour of the Supacem cement factory in Tema, Ghana. The army was visiting the facility after the cement company donated 850 bags of cement to the armed forced earlier this year. Supacem (LafargeHolcim) has donated 2400 bags of cement to security institutions in the country as part of its corporate social responsibility. The institutions include ...
Philcement responds to CeMAP statement
Philcement Corp (Phinma Group) has released a statement folllowing yesterday's revelation that the Cement Manufacturer's Association of the Philippines (CeMAP) had requested that the Department of Trade and Industry (DTI) investigate a possible case of non-compliance regarding a cement brand sold by Philcement. "Philcement asserts firmly that the company is compliant with the provisions of ...
Breedon announce Group CEO change
Pat Ward has informed the Board at Breedon Group of his intention to retire as group CEO and a director of the company in 2021. It is anticipated that he will be succeeded by Rob Wood, Breedon’s group finance director. Rob Wood has served as group finance director of Breedon since early 2014 and has been instrumental in its success. A search for a new group finance director is now underway. ...