Cement News tagged: Corporate
Italy: Cementir receives court approval for Sacci Spa purchase
The Court of Rome has published the decree of approval of the composition with creditors of Sacci Spa, which includes the offer to purchase its business divisions submitted by the subsidiary Cementir Italia Spa. The Court verified the regularity of the procedure and the outcome of the creditors’ vote and approved the arrangement with a motivated decree. The closing of the transaction, su...
South Africa: AfriSam to encourage enterprise development in Bafokeng
At a ceremony held at Phokeng, North West Province, AfriSam and New Business Consulting, a 100 per cent Broad-Based Black Economic Empowerment (B-BBEE) Bafokeng-owned company, signed a Memorandum of Understanding (MoU), cementing a partnership to facilitate enterprise development and creating job opportunities for the Royal Bafokeng Nation. As part of the MoU, a number of enterprise developm...
India: Jaypee vice chairman and director resigns
Jaiprakash Associates Ltd (JAL) said its vice chairman, Sarat Kumar Jain, has resigned from the Group. Jain had been associated with the Jaypee Group for over 50 years. "He is presently 78 years old and is not keeping in good health. As such he has expressed his inability to continue as vice chairman/director of JAL," the firm said. Jain resigned from the office of the vice chairman and d...
Australia: competition body seeks higher Cement Australia fine
The Australian Competition and Consumer Commission (ACCC) has appealed against a court ruling imposing fines of AUD18.6m (US$14m) on Cement Australia, one fifth of the level the ACCC had asked for. In September 2013 Cement Australia was found guilty of conspiring to prevent competition in the concrete market when it entered into contracts with power stations in southeast Queensland to acqui...
Holcim Westport land for sale
Following the closure of Holcim's Cape Foulwind cement plant in Westport, New Zealand, the plant site and its 400ha of land are for sale. The 60-year old Holcim plant is due to close 30 June 2016 as the company plans to import cement to two new terminals at Auckland and Timaru. The assets available as part of the sale include a quarry, packing plant site, water treatment plant, farm land, s...
USA: new plant manager for Ash Grove Midlothian
Michael A Gonzales is the new Ash Grove Cement Company Midlothian plant manager, according to Stuart Tomlinson, vice president of manufacturing – Midwest, with Ash Grove Cement Company. Mr Gonzales begins work at the Midlothian plant effective 1 June 2016. “We are pleased to have Michael lead our modernised Midlothian plant. His experience and record of accomplishment in the cement manufact...
Morocco: Ciments du Maroc cancels Safi wind farm project
Ciments du Maroc, an Italcementi subsidiary, has abandoned plans to construct a wind farm at its Safi site on Morocco’s Atlantic coast, SeeNews Renewables reports. The company will instead explore the possibilities of buying in energy from local suppliers. Co mmenting on the decision, CEO, Mario Bracci, said: "Today, different opportunities exist and a number of supply contracts are being o...
India: Prism Cement acquires stake in BLA Power
Prism Cement has agreed to acquire 15.23 per cent equity stake for approximately INR210m (US$3.14m) in BLA Power, which is in the sole business of generating thermal power. The company will enter into a power supply agreement with BLA Power for the purchase and consumption of 25MW of RTC (round the clock) power from BLA Power for its Unit I and II cement plants at Satna, Madhya Pradesh, unde...
India: Kanodia Cement plans Bihar grinding unit
Kanodia Cement plans to set up a cement grinding unit with a capacity of 1.2Mta in Kuradi village, Durgawati, in Bhabhua district of Bihar. The estimated cost of the project is INR2000m (US$29.9m). The project will be spread over 3.82ha of land. The company has received environmental clearance for the project and is awaiting other necessary clearances.
Border closure costs Cementos Molins EUR25m
The closure of the border between Tunisia and Libya and the regional political tension has seen Cementos Molins’ assets depreciate by EUR25m as exports have fallen, according to sources close to the company. Cementos Molins, who owns two cement businesses in Tunisia, reported sales of EUR646m in 2015, representing an increase of 20 per cent YoY with profits at EUR50.8m, up 64 per cent. Howev...
India: UltraTech commissions Pataliputra plant
UltraTech Cement has commissioned its 15th cement grinding unit at Pataliputra cement works, Maksudpur Pargana, dist. Patna, Bihar in 1Q16. The unit will cater to the markets of Eastern India. After commissioning of this unit, the company’s cement capacity stands at 69.3Mta, including the overseas operations. The completion of this project and others during the year ended March 2016 has see...
Nigeria: Dangote begins construction of Itori-Ibese road
Dangote has begun construction of a network of concrete roads in Nigeria, beginning with a 24km stretch linking Itori and Ibese in Ogun state, Leadership reports. Speaking at the inauguration of the first road, Aliko Dangote said that concrete roads offered a means to address the infrastructural challenges faced by African nations. Dangote said: “We have also recently been finally awarde...
India: Ambuja Cement to expand Rupnagar grinding plant
Ambuja Cement has announced that it plans to upgrade the capacity of its grinding plant in Rupnagar in Punjab by 0.9Mta, taking its output to 3.4Mta. The project, which is estimated to cost just INR10.5m (US$156,071), is to be achieved through process optimisation and it is not anticipated that the upgrade plant will require more power than the 15.8MW it currently has access to. In March...
India: Talavadi Cement plans new plant
Talavadi Cements, a subsidiary of Birla Corporation, is planning an integrated cement plant at Bari village, district, Satna, Madhya Pradesh. The plant will manufacture 2Mta of clinker and 3Mta of cement and will have a 35MW captive power plant and an 8MW waste heat recovery system. JM Environet is the environmental consultant. The project is waiting for environmental clearance, but land a...
Cemex Holdings Philippines set for record IPO
Cemex Holdings Philippines Inc has obtained regulatory approval to launch an initial public offering (IPO) worth PHP39.74bn (US$854.3m), which could be the largest stock market debut in the country. Cemex intends to use proceeds for repayment of up to US$504m of short-term loan from a related party. The debt was incurred in connection with the acquisition of operating subsidiaries—Apo C...
Sri Lanka: LafargeHolcim to exit market
LafargeHolcim is to sell its operations in Sri Lanka - a bagging plant, a grinding plant and the island's only integrated facility - as part of its wider divestment strategy, EconomyNext reports. At least three local firms are though to be interested in bidding for Holcim Lanka, which generated 1.7Mt of sales in 2015 with revenues of LKR23.4bn (US$158m).