Cement News tagged: Corporate
Cruz Azul to invest US$300m in plants
As part of its plant modernisation programme, Mexico’s Cruz Azul plans to spend US$300m in upgrading its four plants in the next four years. Cooperativa La Cruz Azul President, Guillermo Álvarez, said half of the sum would be spent in the next two years with the remainder earmarked for 2019-20. “We will make the investment in a gradual manner in each two-year period to prevent decapitalisat...
Lafarge Surma Cement acquires Holcim Bangladesh
The Board of Lafarge Surma Cement Ltd has approved the acquisition of 100 per cent shares of Holcim Bangladesh from LafargeHolcim Group. The transaction is subject to approval by the shareholders of Lafarge Surma as well as other regulatory and customary approvals in Bangladesh, according to a company statement. Following the completion of the transaction, the company will own the only clin...
Beat Werder new Head of Media Relations of LafargeHolcim
LafargeHolcim has appointed Beat Werder as new Head of Media Relations. He will assume his new role from March 2017 onwards and report directly to Caroline Hempstead, Group Head Communications, Public Affairs & Sustainable Development. Mr Werder previously held the position of Head of the State Secretariat for International Financial Questions (SIF) in Berne. Prior to that, he had been the ...
Oman: Raysut Cement CEO quits
Raysut Cement Company announced yesterday that its CEO, Salem bin Alawi Mohammed Baabood, has resigned. The Board of Directors accepted Mr Baabood’s resignation at a meeting on Tuesday. Mohammed Ahmed Aideed is to assume the functions and duties of group CEO until a new CEO is appointed.
Eric Olsen to chair Cement Sustainability Initiative in 2017
LafargeHolcim Chief Executive Eric Olsen has been appointed as chairman of the Cement Sustainability Initiative (CSI) for 2017. Mr Olsen’s appointment was confirmed at the CSI’s annual CEOs meeting this week. The CSI is part of the World Business Council for Sustainable Development and is made up of nine core members and 15 other participating members, drawn from the world’s largest cement ...
Pakistan: Fecto Cement joins race for Dewan assets
Fecto Cement has announced that it intends to enter a bid for Dewan Cement’s North plant, a 1.134Mta facility located in Hattar. Earlier this month, Lucky Cement indicated that it would put in a bid for the Hattar plant, while The News reports that a Chinese firm is also in the process of carrying out a due diligence investigation. In a trading update released to the Pakistan Stock Exchange...
Bahrain: APICorp acquires 30% Falcon Cement stake
Multilateral development bank Arab Petroleum Investments Corp (APICorp) announced it acquired a 30 per cent stake in Bahrain’s Falcon Cement Co (FCC), one of the largest cement producers in Bahrain. FCC has a current capacity of 1000tpd and is well on its way to more than double its production capacity to 2400tpd by 2017. The cement company is expected to capitalise on a series of major ...
Medcem Cameroon to officially open 16 Dec
Medcem Cameroon, owned by the Turkey-based Eren Holdings, will officially open its Douala plant on Friday, 16 December. With a production capacity of 0.6Mta, the cement plant represents an investment of XAF13bn (US$21m). The first cement was produced in October 2015. Medcem Cameroon is the third cement company to have launched on the domestic market in three years and the fourth cement ...
Tanzania: workshop looks to attract more women to the cement sector
Tanga Cement PLC Communications and External Affairs Manager, Mtanga Noor, said women can be industry leaders in the cement sector. She was speaking in regard to the Tanzania Women Chamber of Commerce (TWCC) workshop on the role of women in the fifth-phase government industrialisation drive campaign that was held recently in Dar es Salaam. Ms Mtanga said that they spent TZS8m (US$3666) to...
Camargo Correa in talks to sell stake in Argentinian cement assets
Reuters reports that an anonymous source has disclosed that Brazilian engineering firm Camargo Correa has opened talks with a view to selling a 40 per cent stake in its Argentinian cement firm, Loma Negra Cia Industrial. Camargo Correa has raised US$2.5bn this year from asset sales, and has been examining the feasibility of selling all or part of its stake in Loma Negra and Brazil’s InterCe...
South Korea: Hyundai Cement auction set to raise KRW600bn
The auction of Hyundai Cement, preliminary bidding of which is scheduled for 16 December, is set to attract bids from multiple prospective buyers, with the assets expected to fetch up to KRW600bn (US$515m), reports Korea’s Pulse. Hyundai Cement currently supplies seven per cent of the domestic market, and the company’s location in the country’s interior makes it particularly attractive to K...
Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq
Lucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News. Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamaba...
Cemex targets TCL acquisition
This week Cemex launched a bid to acquire Trinidad Cement Co Ltd (TCL) via its subsidiary Sierra Trading, which would consolidate the strength of Cemex in the region, while providing investment for the Caribbean cement sector. The interest in TCL by Cemex is long held and the Mexican multinational already has 39.5 per cent of the shareholding in TCL group via Sierra Trading. Cemex now aims...
Taiwan Cement plans to increase exports to China
The Taiwan Cement Corporation has said that it expects to ship 1.1Mt of cement to China in the first quarter of 2017, an increase of two per cent on its performance in 1Q16, the Taipei Times reports. In an earnings statement covering the first nine months of 2016, Taiwan Cement saw its profit increase by 13.7 per cent to TWD4.5bn (US$141m), driven by rising prices and a fall in the cost of ...
India: panel discusses Khrew cement plant modernisation
The Committee on Public Undertakings of the Legislative Assembly met to discuss a modernisation project for the upgrade of Jammu and Kashmir Cements Ltd's Khrew cement plant. The committee held discussions regarding the finances and working results, non-finalisation of annual accounts, manufacturing process and operational performance, production performance of the Khrew cement factory...
Philippines: Cement firms win environmental and mining safety awards
Apo Cement Corporation has won awards for safety and environmental standards at the Presidential Mine Safety and Environment Conference organised by the Philippine Mine Safety and Environment Association, the Manila Bulletin reports. The Cemex Philippines subsidiary received the Presidential Mineral Industry Environment Award (Platinum) for Mineral Processing and was declared winner for the...