Cement News tagged: Corporate
New Cameroon plant agreement signed
The Switzerland-based Mira company is reportedly looking to construct a new cement plant in Douala, Cameroon, under an agreement signed with the government, local press have reported citing sources at the Ministry of Industry, Mining and Technological Development. According to the article published by StarAfrica, the company should benefit from the provisions on incentives for private inves...
Hahn & Company to buy Ssangyong Cement
Hahn & Co, Korea’s leading private equity group, has been selected as the preferred bidder for a 46.14 per cent stake in Ssangyong Cement. Hahn & Company already owns part of the company's stake so its actual target will be 36.8 percent. Ssangyong Cement was put on sale in October 2015. Hahn & Company and Hanil Cement were the strongest contenders, but the private equity fund was known to out...
Cementir outbids Buzzi to buy Sacci
Shares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in Marc...
Cimpor sells quarries in Brazil
Polimix Concreto, Ltda., a Brazil-based producer of cement and concrete products, has acquired the Guarulhos and Barueri quarries in Sao Paulo, Brazil from Cimpor - Cimentos de Portugal SGPS SA for BRL100m (US$25.35m). The transaction will allow Cimpor to strengthen its capital structure, increase profitability, and to focus on its strategic development.
Shansui Cement management in turmoil
China Shanshui Cement Group, which last month defaulted on a CNY2bn bond and saw its entire board ousted early this month, says it has reported the loss of key documents, data and company stamps to Hong Kong Policy as management of the company was plunged into further turmoil. Meanwhile its Shandong unit warned it may default on another CNY1.8bn (US$277m) bond due to mature on January 21. Th...
Jaypee Group’s cement assets up for grabs
Jaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information me...
Spain: Matteo Rozzanigo appointed new president of AFCA
Matteo Rozzanigo, CEO of the Spanish arm of FYM-Italcementi, has been appointed as new president of the Andalusian cement producers’ association (AFCA). Mr Rozzanigo graduated from the Universidad Politécnica de Milán as industrial engineer and held posts mainly in Italcementi as Near East Director and also held directorships in International Development and Near East Development. He succeeds...
CRH meets with Sinoma Group
John Watkins, country director China of CRH met with Peng Jianxin, president of Sinoma Ltd, on 18 November 2015. During the meeting both sides exchanged views on the current situation of China's regional cement industry, the prospects for the international market in the building materials industry and the further strengthening of cooperation between the two sides, Sinoma stated on its website....
Anti-trust authority approves Buzzi deal
Italy's Antitrust Authority has approved Buzzi Unicem's offer to purchase the SACCI business unit and informed the Italian cement producer that it will not to open an investigation about the purchase transaction of SACCI SpA (SACCI). Buzzi Unicem is now clear to proceed further with the acquisition. The Buzzi Unicem offer remains under review by SACCI and the bodies of the composition proceed...
USA: Lehigh Hanson EPA hat-trick
Lehigh Hanson Inc announced that three of its cement plants have earned the US Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR certification for 2015. The company’s cement manufacturing plants in Leeds (AL), Union Bridge (MD) and Glens Falls (NY) perform within the top 25 per cent of cement plants nationwide for energy efficiency and meet the EPA's strict energy efficiency...
St Marys Cement modernises kiln
Votorantim-owned St Marys Cement is proposing a US$130m kiln modernisation project at its Charlevoix, Michigan, USA, plant. The project will lead to lower emissions, improved efficiency and increased production. The expansion will see capacity increase from 1.4Mta to 2Mta. At present the cement producer is working through the permitting process, but it expects the upgraded pyroprocessing se...
Ethiopia: Habesha’s new plant project shows steady progress
PPC recently announced that construction at the 1.4Mta works of Habesha Cement, Ethiopia, is well underway with overall project progress estimated at around 52 per cent. Civil construction at the plant, which will serve the Addis Ababa market, is 45 per cent complete and mechanical erection has started. Some 90 per cent of equipment has been manufactured to date and 70 per cent of this has ...
Cementos Cosmos celebrates three accident-free years
Spain’s Cementos Cosmos is celebrating three years without accidents among its workers. The Córdoba works has implemented several preventative measures over this period and its parent company, Votorantim Cimentos, has invested more than EUR1m in equipment and training to improve the company’s health and safety record. Occupational safety and health are a priority for the group, which has im...
Italcementi sells Italgen and BravoSolution to parent
In connection with the agreement between its parent Italmobiliare and HeidelbergCement announced by Italmobiliare on 28 July 2015, the Italcementi Board of Directors today approved the sale to Italmobiliare of a number of non-core assets.These include Italcementi's current equity investments in renewable energy (Italgen) and in e-procurement (BravoSolution), as well as a property located in ce...
Thailand’s SCG to invest US$200m in Cambodia building materials sector
Siam Cement Group (SCG) will invest US$200m to expand its operations in Cambodia between 2016-20. The company will focus on the cement and building materials sectors, which have strong potential to grow amid the Cambodian government's policy of ramping up infrastructure projects, said Kan Trakukhoon, president and CEO of SCG. "SCG sees Cambodia as one of the more interesting Asean members,...
UltraTech appoints K K Maheshwari as MD
UltraTech Cement appoints K K Maheshwari as Managing Director and Additional Director for a period of four with effect from 1 April 2016. Mr Maheshwari is a chartered accountant with over 38 years of experience. He will succeed O P Puranmalka who will step down as MD on 31 March 2016.