Cement News tagged: Corporate
Confidence Cement plans expansion, Bangladesh
Bangladesh-based Confidence Cement Ltd is planning to double capacity from the existing 2000tpd to 4000tpd. The new project is scheduled for completion in 2016. During the first half of 2015, the company's revenue climbed 15.3 per cent YoY to BDT2.143bn (US$27.5m). Net profit dipped slightly to BDT152.3m versus BDT157.3m in the comparative period of the previous year. Confidence is the firs...
EPA announces a settlement with Lehigh Southwest, USA
The US Environmental Protection Agency (EPA) announced a settlement with Lehigh Southwest Cement Co for failing to properly report releases of toxic chemicals at its Cupertino, California, USA. The company is required to pay a US$47,600 penalty and spend US$144,250 to fund projects that support local emergency response and limit future releases from the plant. The EPA said in a statement that...
Alkhalij to double its cement capacity
Part of Qatari Investors Group, Alkhalij Cement Company will invest around US$800m in its second production line, which is scheduled to come on-stream in 1Q16. The new capacity will be built to maintain market share and meet the expected rise in cement demand, which has been boosted by major construction and infrastructure projects. Firas Tayssir Ibrahim, chief administration officer of Q...
DG Khan Cement has strong FY15
DG Khan Cement, part of the Nishat Group, has posted net earnings of PKR7.63bn (US$73.1m) in the year ending 30 June, up 28 per cent compared to full-year earnings of PKR5.97bn in the same period of last year. The company runs a total of 4.2Mta of production capacity in three cement plants with two located in Dera Ghazi Khan and one in Khairpur district, Chakwal. The key reasons behind the e...
Sri Lanka: Holcim village inaugurated by President
Sri Lanka's President Maitripala Sirisena inaugurated Holcim Village in Akmeemana, Galle, this week. The initiative was constructed and conceived by Holcim under its Sustainable Development Project and following its pledge for Livable Communities. Akmeemana Holcim village consists of 14 households and is the fourth settlement of its kind. The project cost the firm LKR14m (US$99,971). The Ga...
Italcementi disposes of WCC stake
Italcementi Group, via its affiliate CimFra (China) Ltd SAS, has disposed of its 5.24 per cent stake in West China Cement (WCC) for an upfront consideration of HKD341m, equivalent to approximately EUR38.5m, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at group level, Ital...
Lafarge Malaysia Bhd to acquire Holcim Malaysia
Lafarge Malaysia Bhd plans to acquire Holcim (Malaysia) Sdn Bhd, for MYR330m (US$77.4m) cash, as part of parent company LafargeHolcim Ltd’s plans to consolidate operations in the southeast Asian country. In a filing with Bursa Malaysia today, Lafarge Malaysia said it has entered into a conditional share purchase agreement with Holcim Indonesia for the proposed acquisition. Lafarge Malaysia s...
San Miguel Corp to up investment spend
Philippine conglomerate San Miguel Corp said on Monday it is raising planned investment in cement manufacturing to almost US$1bn with the addition of three new cement plants to two previously announced facilities. President Ramon Ang outlined the investment at a briefing following the listing of San Miguel's PHP33.5bn (US$720m) worth of newly issued preferred shares. Ang said in July San Mi...
Tanzania: Tanga six-months hit by devaluation of shilling
Tanga Cement Company has registered a net loss of TZS6.94bn- for the six months to June 2015, compared to a profit of TZS8.60bn in the corresponding period of year. Management partly attributed the decline to the devaluation of the Tanzanian shilling during most of the period. "The devaluation of the shilling resulted in a TZS7.9bn/- unrealised foreign exchange loss...The devaluation made t...
New director general appointed at Kavkazcement
Igor Nikolenko has been appointed the new General Director of CJSC Kavkazcement, part of Eurocement. A Eurocement statement stated that the new appointment was highly qualified with a 'deep knowledge of Eurocement group's business processes and long experience in the field of construction materials.' Mr Nikolenko was born in Belgorod in 1965. Having graduated from Belgorod Technological Insti...
Lafarge Zambia reports first-half increase
Lafarge Zambia plc has posted a four per cent profit after tax from ZMW180.7m ((US$18.4m) in 1H14 to ZMW187.1m in the same period of 2015 despite the country's economic challenges and political uncertainties in Democratic Republic of Congo (DRC), which constitutes the company’s major export market. The company also recorded a 14 per cent turnover of ZMW699.1m in 2015 from ZMW614.3m in 2014. ...
GICA’s Ain El Kebira to launch on stock exchange
Groupe Industrial des Ciments d’Algérie (GICA) plans to place 35 per cent of the capital of Ain El Kebira cement plant on the Algerian stock exchange in 2016, according to its CEO, Laid Khaber. The stake will be made available to institutional investors such as banks, financial and insurance companies. However, he emphasised that the cement company’s entry to the bourse does not mean it will...
Myanmar: Arr Thit Man plans to double capacity
Myanmar producer Arr Thit Man plans to double its cement output from 5000tpd to 10,000tpd by 2016, according to a report in the Myanmar Times citing senior officials. The company's plant is based in Kyaukse, Mandalay and it sells cement under the Double Rhinos brand. "We are a new brand, but we are focused on the quality of cement and fulfilling market demand," said the company's managing d...
Pakistan: Bestway Cement and Pakcem results update
Bestway Cement and group company Pakcem have posted a positive bottom line. Net turnover increased by 5.4 per cent from PKR28.9bn (US$277m) to PKR30.5bn for Bestway and Pakcem saw a 9.4 per cent increase from PKR5.11bn from the corresponding period to PKR5.58bn to June 2015. “We are happy to share our annual results for 2014-15 for Bestway Cement and six-month period for Pakcem, with growth i...
St-Gobain gets green light to acquire control of Sika
The Swiss competition commission (Comco) has authorised the control of Sika by construction materials giant St-Gobain, the French company announced in a press release on Tuesday. This decision follows the favourable ruling handed down by the European Commission on 22 July 2015 as well as the decisions already received from other competition authorities, notably in the United States and China.
LafargeHolcim offers €60 a share in squeeze-out
LafargeHolcim has decided to implement a squeeze-out procedure for the Lafarge shares not tendered between May and July 2015 (representing 3.56 per cent of the share capital). LafargeHolcim is offering to indemnify in cash the shareholders of Lafarge at a price of €60 per share. As an alternative to the cash indemnification proposed, an exchange option of 9.45 LafargeHolcim shares for 10 La...