Cement News tagged: Corporate
CRH said to be closing in on Suwanee America acquisition
CRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the va...
Cementos Avellaneda will raise capacity at its La Calera plant by 2019
Cementos Avellaneda will increase its production capacity at its La Calera (San Luis) cement plant by 0.7Mta from 0.3Mta to 1Mta with an investment of US$200m by 2019. In addition, the company is currently invest some US$30m at its Olavarría (Buenos Aires) plant where it has been increasing the cement production capacity by 0.3Mta with start-up expected before the end of 2017. Cementos Avell...
Qalaa Holdings announces 2Q17 net loss of US$158m
Qalaa Holdings, a leading energy and infrastructure investment company based in Egypt, announced its consolidated financial results for the quarter that ended in 30 June with a net loss worth EGP2.8bn (US$158m) in 2017, compared to EGP277.5m in 2016. The company announced its revenues reached EGP2.3bn during the second quarter 2Q17, with revenue growth of 25 per cent YoY. Chairperson and Fou...
Plycem vows to increase competitiveness in Costa Rican market
Plycem, a new company owned by Mexican billionaire Carlos Slim, will fight for a place in Costa Rica's cement market from the first quarter of 2018. The Mexco-based company will operate in Salinas Esparza, Puntarenas, with an investment of US$17m in an area of 50,000M². The project will create at least 200 jobs. Óscar Fonseca, Plycem Central America CEO, explained that the main objective of ...
Dangote Group implores Nigeria's federal government to back concrete roads
Devakumar Edwin, executive director, strategy, portfolio development and Projects, Dangote Industries Limited, has appealed to Nigeria's federal government to embrace concrete road and use cement for the construction of its roads in Nigeria for durability purpose. Aside from being very cheap, he said concrete roads are more durable and that its maintenance cost is near zero. According to him:...
Dalmia Baharat targets organic growth in east India
Dalmia Bharat is planning to strengthen its presence in the region to tap growth potential, reports the Expres Group. Dalmia Bharat, the second largest cement manufacturer in eastern India, is planning to strengthen its presence in the east of the country where housing and infrastructure development is driving cement demand. "The government is spending money to build road, ports and projec...
Summit Materials could be swept up in US consolidtion trend
As the cement sector continues to consolidate, the number of potential targets with values of more than US$1bn (EUR842m) will continue to fall and quite possibly, Summit Materials will see its position change from being an acquirer of companies - to being a target, reports the Sunday Independent. Follwing, CRH's recent move to acquire US company Ash Grove Cement for US$3.5bn and Martin Ma...
Gharibwal Cement's net profit falls 14.8%
Gharibwal Cement Ltd has reported that its net profit fell by 14.84 per cent to PKR2.283bn (US$21.6m) in FY17 on YoY basis. The company said sales increased by sales 6.7 per cent to PKR11.22bn in FY17 from PKR10.522m the previous year. However, a higher cost of sales saw gross profit fall from PKR4.172m to PKR3.854m and pretax profits from PKR3.695m to PKR3.045m. The company incur...
INSEE lay foundation stone for Galle grinding station
The foundation stone has een laid for INSEE Cement's new vertical mill that will be the main part of the company's US$14m grinding plant in the port of Galle, Sri Lanka. INSEE Cement CEO, Nandana Ekanayake, said: "The new plant will be the first vertical cement grinding plant in the southern province and also for the company. It is the company’s first big investment since the acquisition in...
Belarus government increases stake in three cement producers
The Council of Ministers in Belarus has issued a directive providing for an increase in the government’s stake in three cement producers. The government will raise its stakes in Belarussian Cement Plant in Kastsyukovichy and Krychawtsementnashyfer in Krychaw, which are both in the Mahilyow region, as well as Krasnaselskbudmateryyaly in the Vawkavysk district, Hrodna region, according to Bel...
PPC raises prices and volumes
South Africa-based cement producer PPC said it improved effective selling prices in its South African cement business and is steadily increasing output at its operations in the rest of Africa. The company saw a rise in volumes of 15 and 35 per cent in Zimbabwe and Rwanda, respectively in the five months to August, according to an investor presentation at the RMB Morgan Stanley Big Five Inve...
Paraguay: INC expects to close year with PYG25bn in cash
Paraguay’s Industria Nacional del Cemento (INC) expects to close this year with around PYG25bn (US$4.4m) in cash and a positive balance, according to its President, Jorge Méndez. He added that various projects undertaken at the plant – such as conversion from a fuel oil-based to a 100 per cent petcoke firing programme at Vallemí and the planned modern palletiser at Villeta – will enable the...
Pioneer Cement net income rises 16%
Pioneer Cement Ltd posted a net income of PKR2.91bn (US$27.6m) in the fiscal year ended on 30 June, up 16 per cent compared with PKR2.51bn in the previous year, according to a company notice to the Pakistan Stock Exchange (PSX). Revenues of the company surged by 13 per cent YoY mainly driven by clinker sales made to Fauji Cement during the year. Gross margins of the company remained above...
Cemex sells remaining direct GCC interest
Cemex annnounced it has sold 31,483,332 shares of common stock (the "Shares") of Grupo Cementos de Chihuahua, SAB de CV (GCC), which represents approximately 9.47 per cent of the equity capital of GCC. Proceeds from the sale were around US$168m, which will be used mainly for debt reduction and general corporate purposes. Cemex continues to have an approximate 20 per cent indirect interest i...
Votorantim Cimentos to sell stake in Suwannee American
Brazil-based Votorantim Cimentos is to sell its 50 per cent stake in Suwannee American Cement (SAC), located in northern Florida, USA. The sale is part of Votorantim’s strategy of prioritising assets and reducing its debt. SAC supplies cement to the construction markets of Florida and southern Georgia from its 1Mta Branford plant. Although the plant was in the path of Hurricane Irma, it...
Stephan Oehme new Global Sales Director FLSmidth subsidiaries
FLSmidth Pfister and FLSmidth Ventomatic have appointed Stephan Oehme to the new position of Global Sales Director. Mr Oehme holds a degree in mechanical engineering. Before joining FLSmidth, he spent over 14 years at Claudius Peters, most recently as Director of Sales and Technology. Part of his role will be the expansion of Pfister and Ventomatics business beyond the cement industry,...