Cement News tagged: Corporate
Gebr Pfeiffer appoints new management in USA and Malaysia
Germany-based grinding specialist Gebr Pfeiffer has appointed Timothy Burden as president of its US subsidiary Gebr Pfeiffer Inc in Florida, effective 1 January 2020. Since joining Gebr Pfeiffer in 2017, Tim Burden has been successful as managing director Malaysia, overseeing sales and operations in the company's Asian subsidiary. Prior to joining Gebr Pfeiffer, he had over 10 years of sales...
Deccan Cements plans plant expansion
India’s Deccan Cements has announced plans to expand its integrated cement plant in Suryapet, Telangana, at an investment of INR6bn (US$84.5m). The project will involve the addition of a new 15MW waste heat recovery plant at the existing 18MW coal-based captive power facility. Statutory clearances for the project are being awaited, with work on the project planned for completion within 24 mo...
Cemex Holdings Philippines plans new share sale
The Philippine Stock Exchange has approved Cemex Holdings Philippines’ plan to raise as much as PHP12.6bn (US$250m) from the sale of new shares to existing investors. The company is expected to price its rights offering on 6 January 2020 and launch the offer from 20-24 January next year. Listing of the new shares is tentatively set for 4 March 2020. The new shares will come from an incre...
Loma Negra plans to refinance US$40m debt
Argentina-based Loma Negra is looking to refinance the US$40m debt that requires repaying in January 2020. The loan was taken out at under seven per cent interest. The refinancing targets a maturation in 2022 at 10 per cent interest rate to enable the company to proceed with its US$350m investment project. If it is successful, it will have US$100m in cash reserves to complete the investment ...
CRH reportedly in talks to sell stake in Indian joint venture
CRH is reportedly in talks to exit its joint venture with India’s My Home Group, according to VC Circle. In 2008, CRH acquired the 50 per cent stake in My Home Industries for around US$450m and the deal would see this returned to the Indian group. My Home Industries operates across four locations in Andhra Pradesh, Tamil Nadu and Telangana, with a total cement capacity of 9.6Mta. The company...
Pakistan's Popular Group acquires Dadabhoy Cement
Popular Group of Pakistan has officially announced the purchase of a private-sector cement manufacturing facility in Sindh province of Pakistan. The announcement says, "It is hereby notified for the information of general public that Dadabhoy Cement Factory has been purchased by Popular Group, and now its name has been changed to Popular Cement Industries (Pvt) Ltd." Popular Cement Indust...
Maple Leaf to elect new directors
Maple Leaf Cement Factory Ltd has announced that an Extraordinary General Meeting of the members of will be held on Tuesday, 31 December 2019 in Lahore, to elect eight directors of the company, as fixed by the Board of Directors, in accordance with the provisions of Section 159 of the 2017 Companies Act for a term of three years commencing 31 December 2019 in place of the retiring directors. ...
Ghacem to raise cement prices
Ghacem has announced that the price of its bagged products will increase from Wednesday, 11 December, on the back of an increased cost of production. "Management wishes to inform customers that our cost of production has increased significantly due to the depreciation of the Ghana cedi against the major international currencies, increased utility tariffs, and fuel and port duties among others...
Power Cement starts new production lines
Power Cement Ltd (PCL) has informed Pakistan Stock Exchange (PSX) that its new 7700tpd clinker production plant has started producing clinker from 10 December, says a notification sent by Company Secretary, Tahir Iqbal. PCL has been in process of installation of its two plants, namely a 7700tpd 'clinker production plant' and an 8800tpd 'cement production and dispatch plant' – increasing its ...
Universal Cement Corp sees 17% rise in revenue
Taiwan’s Universal Cement Corp has seen a 17 per cent YoY surge in November revenue to TWD493.4m (US$16.19m) from TWD421.8m in the same period of 2018. In the first 11 months of 2019, revenue increased 5.4 per cent YoY to TWD4.55bn against TWD4.32bn of January-November 2018.
Taiwan Cement Corp records modest decline in revenue
Taiwan Cement Corp has posted a revenue of TWD11.678bn (US$383m) for November 2019, a modest decline of 0.9 per cent from TWD11.784bn from the corresponding period of last year. Between January-November this year, the company has seen revenue decrease 2.4 per cent YoY to TWD110.45bn from TWD113.2bn of the 11M18.
ENCI announces shutdown in 2020
The Board of HeidelbergCement-owned ENCI in Maastricht, The Netherlands, has informed its employees regarding the closure of the factory next year, according to Het Belang Van Limburg. A precise date of closure has not been disclosed, but as a result, 50 employees will be dismissed. In recent years, the plant has been gradually shutting down its operations. In July 2018 quarrying activities...
Asia Cement Corp records 5% YoY revenue increase
Taiwan’s Asia Cement Corp has recorded a 4.9 per cent increase in November 2019 revenue to TWD8bn (US$262.5m), compared with TWD7.626bn in the year-ago period. In the first 11 months of the year, revenue climbed 6.6 per cent YoY to TWD81.23bn from TWD76.2bn.
SOTACIB reopens after labour dispute
Tunisian white cement producer SOTACIB will restart its activities on 10 December, following three months of shutdown, confirmed the Governor of Kairouan, Mohamed Bourguiba. The suspension of activities was due to protests and disputes between the administrative and trade union parties. An agreement was signed between the Regional Labour Union, the Regional Union of Industry and Commerce, th...
Holcim Argentina appoints Christian Dedeu as CEO
Holcim Argentina will have a new CEO from January 2020. The company named Christian Dedeu, the first Argentinian to be appointed in the top job. Christian holds an economics degree from Universidad del Salvador as well as an MBA from the Universidad Austral. He has been employed by LafargeHolcim since 2007 and has served in various commercial, marketing and retail roles in Argentina and Cost...
Alexandria Development seeks 100% acquisition of Alexandria Portland Cement
Egypt’s Alexandria Development Ltd (Titan Cement International) has announced its intention to acquire the remaining 11.07 per cent stake in Alexandria Portland Cement. It already owns 88.93 per cent of the company and is expected to offer EGP6/share (US$0.37/share) in cash for the remaining stake. Once the deal completes, the company would delist Alexandria Portland Cement from the Egyptia...