Cement News tagged: Corporate
Fecto forms new subsidiary, reports fall in domestic sales
Fecto Cement Ltd has approved the formation of a wholly-owned subsidiary to implement the investment in a new cement plant. The Pakistani cement producer had earlier announced plants to build a 6000tpd greenfield plant and 9MW waste heat recovery power plant in Palai, Khyber Pakhtunkhwa. Completion of the project would be expected in 18 months’ time. Financial performance 1QFY19-20 In th...
Cemento Cienfuegos achieves 2019 planned production
Cuba’s Cemento Cienfuegos achieved its planned output for 2019 and will continue to produce cement to supply extra volumes to prioritised construction programmes in the country. The plant’s production reached more than 0.696Mt, a few days before the end of the year, despite damage to the plant during the year and reduced energy output due to the intensification of the USblockade, reported A...
Thatta Cement Co appoints Muhammad Aslam Shaikh CEO
Pakistani-based Thatta Cement Co Ltd (THCCL) has informed Pakistan Stock Exchange (PSX) that Muhammad Aslam Shaikh is the company’s new CEO with effect from 23 December 2019, replacing Muhammad Taha Hamdani. THCCL has a production capacity of 488,250tpa at its cement plant in Thatta, Sind Province.
Maple Leaf Cement to elect new directors
Maple Leaf Cement Factory Ltd (MLCF) will elect new directors for a three-year term at its Extraordinary General Meeting on 31 December 2019 in Lahore, Pakistan. Eight people have filed with the company as candidates for the directorships. They have been named as Tariq Sayeed Saigol, Taufique Sayeed Saigol, Waleed Tariq Saigol, Danial Taufique Saigol, Jahanara Saigol, Syed Mohsin Raza Naqvi,...
Cemex to build terminal in El Musel port
The Port Authority of Gijón granted Cemex a 30-year concession of 2477.72m 2 of land at the Olano Pier in the port of El Musel, Spain. The Mexico-headquartered cement producer plans to build and operate a port terminal to receive, store and distribute cement and derived products. Plans include the construction of several warehouses, a loading bay and a bagging facility in the next 10 months...
National Cement to invest US$250m in Ragland
Vicat-owned National Cement will be installing a new state-of-the-art kiln at its Ragland plant in Alabama, USA. The project represents an investment of US$250m and the project is expected to start the construction in the first quarter of 2020. "We are excited about our kiln project in Ragland. It will ensure that our employees and our Ragland facility can continue to be competitive for yea...
Devnya Cement to alter production strategy
Bulgaria's government has announced it will terminate the concession contract awarded to Devnya Cement for a quartz sand deposit in the Varna region, upon the company's request. The company has decided to alter its future production strategy due to market conditions and therefore no longer intends to use deposit, according to a government statement. Devnya Cement had won the concession in 2...
Dandot Cement continues to posts losses
Dandot Cement Company Ltd (DNCC) of Pakistan has announced its financial results for the first quarter ended September 2019, yesterday. It incurred a net loss of PKR220m (US$1.42m) as compared to loss of PKR49.4m reported in the same quarter last year. The major factor responsible for this declining trend in company’s profit, was a 63.7 per cent fall in sales to PKR144m from PKR397m in the ...
Huaxin Cement plans share buy-back scheme
China’s Huaxin Cement has announced its intention to buy back company shares worth around CNY100-125m (US$14.21-17.76m) within the next 12 months. The company also stated its plans to issue offshore bonds worth up to US$500m.
Tan Thang plant set to begin operations in 2020
Vietnam’s Tan Thang cement plant is expected to be put into operation in the central province of Nghe An next year, according to Vietnam News. The project represents a total investment of VND4.9trn (US$211.21m). The plant has been equipped with imported production lines from EU and G7 countries, and is expected to be able to produce 2Mta of cement upon commissioning. While no new cement ...
Semen Indonesia volumes surge 44% in November
Sales volumes of the Semen Indonesia Group, including Thang Long Cement Co (TLCC) and former Holcim subsidiary, PT Solusi Bangun Indonesia (SBI), surged 44.2 per cent in November 2019 to 4.399Mt from 3.05Mt (before the group’s acquisition of SBI and therefore, not included in the group’s consolidated numbers), according to a company statement. Semen Indonesia, excluding TLCC and SBI, improve...
Dongwu Cement to sell stake in wastewater treatment company
China’s Dongwu Cement has announced that its subsidiary, Xinhua Shanghai Investment Management Co, plans to divest its entire 62.26 per cent stake in Shanghai Biofit Environmental Technology Co. The total consideration for the divestment is estimated at CNY22m (US$3.14m). Shanghai Biofit and its subsidiaries are principally engaged in the treatment of organic wastewater and sludge, alongside...
Arabian Cement Co adjusts completion date for Rabigh plant
On the back of project delays, Arabian Cement Co announced earlier this year that its new grinding plant in Rabigh, Saudi Arabia, was due for completion in the 1Q20 with commercial operations expected to begin in the following quarter. The company says the cement mills in Rabigh are 99.4 per cent completed. However, this has now been pushed back further. Commercial operations have now been ...
Fauji Cement to diversify
Fauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange that the 135th Special Board Meeting of the company held at the Fauji Foundation's head office in Rawalpindi on 13 December 2019 decided to pool resources and diversify investment. The Board of Directors have discussed and resolved that in the interest of the company an Extra Ordinary General Meeting be convened soon to con...
Ultracem takes seven per cent of Honduran market
Honduras’ third cement producer Ultracem has gained seven per cent market share in its first year of operations, according to La Tribune. The Colombia-based producer has focussed its entry into Honduras on the north and central regions of the country. Ultracem Honduras manager, Ismael Ballestas, said that the company’s entry had a price-regulating effect on the market and that the company i...
FLSmidth announces new CFO
Denmark-based equipment supplier FLSmidth has appointed Roland M Andersen as chief financial officer and member of the group’s executive management. Roland M. Andersen joins FLSmidth from NKT and brings 25 years of experience and new competences through his time as CFO with public as well as private equity owned companies. He held prior CFO roles at AP Moller Maersk, Telenor/Cybercity, Torm ...