Cement News tagged: Corporate
Building collapses at Holcim Obourg
A collapse of a building near one of the kilns of Holcim’s 1.4Mta Obourg plant in Belgium on 23 May has resulted in the death of one worker and the closure of the plant as an investigation takes place into the causes of the collapse. Emergency services were promptly at the scene but the heavy damage to the structure of the building required further specialist help to locate the at first mis...
PT Semen Padang puts Indarung VI output at 2Mt
PT Semen Padang expects the output of its Indarung VI line to reach 2Mt this year as the 3Mta plant produced 0.5Mt of cement at the end of May, four months after its commissioning. Semen Padang saw domestic sales in the first four months of the year reach 1.8Mt, down 4.8 per cent YoY, according to the company’s President Director, Benny Wendry. However, exports more than quadrupled to 294,9...
Financier acquires 11% stake in Ecocem
Financier Dermot Desmond is reported to have acquired a stake in Ecocem Materials, the low-carbon cement producer founded by Irishman Donal O’Riain and backed by Saint-Gobain. Ecocem holds a 70 per cent stake in a EUR30m 2Mta plant venture with ArcelorMittal and has three cement plants at Ringsend (Ireland), Moerdijk (The Netherlands) and Fos-sur-Mer (France) Via his private equity company, ...
Paraguay: INC to increase distribution points
Paraguay’s Industria Nacional del Cemento (INC) expects to increase its number of distributors following the rise in producttion in the second half of this year, according to its Managing Director, Jorge Méndez. Commercial Director, Derlys Ortiz, said the company would add 113 distributors to its current 332. The selection process for the new distributors will start this week and is expected...
Pacific Cement expected to be shutdown until July
Pacific Cement Ltd (PCL) announced that it is unable to meet the domestic cement demand in Fiji, due to the age of its factory which is contantly out of action. Sowani Tuidrola, PCL's chief executive, says they stopped production two weeks ago due to a major breakdown at the factory. “The local demand here is big, more than what it was in the past and the second reason is that our factory...
India: Ramco appoints PR Venketrama Raja as new CMD
Ramco Cements has announced the appointment of P R Vektrama Raja as its new Chairman and Managing Director. The appointment is for a five-year term, starting 4 June 2017, said Ramco in a Bombay Stock Exchange filing. It follows the passing of Chaiman P R Ramasubrahaneya Rajha in March.
Major shareholder offers to sell stake in China Shanshui Cement
China Shanshui Cement Group Ltd said on Thursday that a major shareholder had offered to divest its 25 per cent stake in the company for around US$600m. China Shanshui Investment (CSI) has invited three other big shareholders to buy its holding for HKD5.50 (US$0.71)/share, the Hong Kong-listed cement maker said in a filing, although it added that there was no certainty that a deal would be don...
Orient Cement to acquire two Jaypee units
Orient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grin...
Lafarge reports higher sales from Czech operations
Lafarge Cement's sales increased by nearly two per cent YoY to CZK992m (EUR37.6m) in 2016. The company expects a moderate growth or stagnation of the Czech market for this year, according to company spokeswoman Milena Hucanova. The results benefitted from an increase in local consumption, Ms Hucanova told CTK Business News. Full-year net profit amounted to CZK206m, up by 23 per cent YoY...
Shanshui Cement shareholder plans to sell shares
Shanshui Cement announced that it received a letter from China Shanshui Investment Co Ltd, which holds a 25.09 per cent of shares, stating that it has invited Asia Cement, CNBM and Tianrui (International) to make an offer to acquire all its shareholdings in the company at US$5.50/share. If any of them makes the offer, it is expected that such party will be subject to the requirements under t...
Cemex Dominicana appoints Alejandro Ramírez as new local president
Alejandro Ramírez Cantú has been appointed has Cemex Dominicana’s new president for the company’s operations in the Caribbean country. He will also supervise operations in Haiti and the Bahamas.
Cementos Bío Bío sees 42% drop in 1Q profits
Chilean cement producer Cementos Bío Bío reported a 41.6 per cent reduction in first-quarter revenues to CLP67.93m (US$100,704) from CLP76.84m in 1Q16, according its report to the Superintendency of Securities and Insurance (SVS). EBITDA fell from CLP30.03m in the first three months of 2016 to CLP26.05m in Jan-Mar 2017. Net profit nearly halved from CLP4.43m to CLP2.59m.
Vulcan Materials to acquire Aggregates USA
Vulcan Materials Co has reached a definitive agreement with SPO Partners to acquire its aggregates business, Aggregates USA LLC for US$900m in cash. Aggregates USA LLC operates 31 facilities serving high growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia. "We are pleased to have reached agreement with SPO Partners for these strategic assets, which enhance our ability...
LafargeHolcim to start share buy-back programme
LafargeHolcim announces that it will start its share buy-back programme of up to CHF1bn (EUR916.9m) over 2017-18 on 1 June 2017. The programme that was initially announced at the Capital Markets Day on 18 November 2016 and authorised by the Board of Directors on 26 January 2017, will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the executio...
Sinai 1Q17 loss widens
Sinai Cement reported an increase in losses by 55 per cent YoY during the first quarter of 2017, due to the rise of financing and administrative costs. The company said in a statement to the Egyptian Exchange (EGX) on Monday that losses amounted to EGP57.98m (US$3.2m) in 1Q17 compared to EGP37.28m in 1Q16. During the three-month period that ended 31 March 2017, sales increased to EGP385.6...
Egyptian Cement Co seeks loan for Sohag plant
Egyptian Cement Co has entered into negotiations with a local banking alliance to obtain a loan of EGP4bn (US$221m) to partly finance the cost of its first plant and construction materials complex in Sohag province. The alliance is made up of the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, sources told Al Mal newspaper. The details of terms and condition...