Cement News tagged: Corporate
UAE: Arkan cutting energy usage in response to price rises
Emirati building materials firm Arkan, which operates the Al Ain and Emirates cement factories, has announced a series of energy saving measures in response to rising prices for electricity, water and natural gas, Trade Arabia reports. The initiatives include the installation of a waste heat recovery unit on the clinker cooler at the Al Ain cement factory. Arkan is also conducting a feasibi...
Trinidad Cement directors recommend rejection of Cemex bid
The board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in...
Nigeria: BUA Group to offer incentives to cement distributors
BUA Group, the conglomerate which owns the Cement Company of Northern Nigeria, is to offer incentives of NGN100m (US$0.3m) to cement distributors who exceed their sales targets, the Nation reports. “We have embarked on an expansion drive and this will be completed in 2018. Cement business is a very challenging one, because it is a capital intensive business; but I want to assure you that ou...
Pakistan: Kohat Cement interest in Dewan Cement
Kohat Cement Company Ltd has joined the race to acquire Dewan Cement’s North plant, a 1.134Mta facility located at Hattar industrial estate in northern Pakistan. The company has informed the Security & Exchange Commission of Pakistan and Pakistan Stock Exchange on 16 December that its Board of Directors has decided to participate in the bidding process for the purchase of North cement plant ...
India: Prism Cement sees losses shrink for 1HFY17
Prism Cement has released its financial results for the first half of its trading year, which began on 1 April, revealing a loss of INR50.62m (US$0.75m) over the six-month period. This compares favourably with the same period in FY16, when the company booked a loss of INR522.8m. Prism’s cement business saw revenues rise by 0.7 per cent and was the most profitable of the company’s three divi...
The Addoha Group's expansion continues
Ciments de l’Atlas (CIMAT) announced the recent opening of the new 0.5Mta Diago grinding plant in Mali, which will increase domestic cement production in the country by around 25 per cent . Mali has had to rely on cement imports from Senegal in the main to meet its domestic demand. It is expected that clinker imports will gradually start to replace bagged cement imports. Addoha Group-owned ...
France: Addoha Group's plant draws right-wing opposition
The CEO of Addoha Group, Anas Sefrioui, could see his Fos-sur-Mer cement plant project permanently held up due to local political contingencies. in 2012 Groupe Sefrioui, through its subsidiary Sudvrac, started a project to build a cement plant, near the port of Fos-Sur-Mer, some 50km from Marseille. The EUR50m project is expected to produce 0.4Mta of cement and create more than 100 job...
Uruguay: Cimsa to work with Ancap on Cementos Charrúa project
Company Industrializadora de Minerales SA (CIMSA) wants to form an association with Ancap of Uruguay to receive clinker for its subsidiary Cementos Charrúa, to produce cement at the grinding unit being built in Montevideo. The product is mainly earmarked for export to Brazil. Ancap operates a kiln line in Treinta y Tres, via its subsidiary Cementos de Plata, and will supply clinker to t...
France: Cemex highlights involvement in Grand Paris project
Cemex has released details of its work on the Grand Paris infrastructure project, the largest such programme in France. The company has supplied over 55,000m 3 of concrete for the extension of the Paris Metro, participated in the construction of the ZAC Clichy Batignolles Development Area and provided logistical support for the whole development. “We are proud to participate in monumental ...
China Resources Cement and BBMG sign strategic co-operation agreement
China Resources Cement said it has entered into a strategic co-operation agreement with BBMG Corporation. The parties will jointly explore the Chinese and overseas markets and further promote the advancement of the technology as well as the transformation and upgrade of the cement industry. Both companies will establish a market communications mechanism to strengthen the sharing of marke...
Nigeria: Ashaka Cement to be delisted from NSE
The Board of Directors of Ashaka Cement Plc have opted for a voluntarily delisting of the company from the Nigerian Stock Exchange (NSE) in violation of the exchange’s Free Float Deficiency provision of 20 per cent. According to the directors, Lafarge Africa Plc currently holds 84.97 per cent of Ashaka Cement, bringing the free float that is tradable on the NSE to 15.03 per cent as agai...
Indonesia: Bosowa Corp opens new 1.8Mta grinding plant
The Bosowa Corporation has started operation of two new facilities in Banyuwangi, East Java, built with a IDR1.59trn (US$118.2m) investment as part of its expansion strategy this year. The company has completed a cement grinding plant worth INR800bn and a liquefied petroleum gas (LPG) terminal worth INR787bn, are set to tighten Bosowa's grip on both the cement and energy industries in the sur...
Vietnam: Can Tho Mineral and Cement opens new plant in Phu Huu
Can Tho Mineral and Cement JSC (CCM) has announced that it has opened a new 0.5Mta cement plant on the Phu Huu industrial park near the border with Cambodia. The plant was built at a cost of VND180bn (US$8m). According to VietNam Finance, CCM believe that their investment is justified giving growing domestic demand for cement. According to estimates from the Vietnam's Cement Association, co...
China: Shandong Shanshui returns to profitability
Shandong Shanshui Cement has managed to turn its losses into profit following a year of defaulting on debts after a battle for control of the company. Deputy Chairman, Mi Jingtian, said that solutions to the CNY4.6bn (US$661.1m) of defaulted debt are now in place and the company has paid in full all outstanding interest. It has since regained a “normal working relationship” with commercial ...
Cemex closes sale of Ventika stake
Cemex announced that the company closed the divestment of its interest in the Ventika wind farm project. The Mexico-based cement producer sold its minority interest for around US$35m, with the proceeds of the transaction used mainly for debt reduction and general corporate purposes. Ventika’s entire equity is now owned by IEnova, part of Sempra Energy. Cemex Energia will remain as the manag...
Medcem adds more grinding capacity to Cameroon
Medcem Cameroon (Eren Holdings Group) announced this week that it will officially open its 0.6Mta Douala grinding plant today, Friday, 16 December 2016. It is just one of a number of new capacity projects that have been scheduled to boost Cameroon’s cement market in the next few years and yet the cement price remains high for this African nation. Cement prices might have been expected to s...