Cement News tagged under: Corporate
ACC Ltd and Ambuja Cements shut two plants over transporter dispute16 December 2022, Published under Cement NewsThe management of Ambuja Cements and ACC Ltd ( Adani Group ) have shut the Darlaghat/Rauri and Gagal plants following a rise in transportation and raw material costs, and a dispute between the cement transporters and cement producers regarding the increase in freight charges. The dispute has adversely affected the market share of the company as cement transports have fallen considerably. All employees have been advised not to attend duties with immediate effect until further inst... |
Mondi opens Moroccan paper bagging factory15 December 2022, Published under Cement NewsMondi has started production at its EUR16m greenfield bagging plant in Tangier, Morocco, which can produce 100m paper bags each year. This brings Mondi’s total production capacity in West Africa to over 500m bags annually, helping to meet the growing customer demand for paper bags in the region. This plant is Mondi’s fourth site in West Africa (in addition to two other plants in Morocco and one in Ivory Coast). The sack kraft paper used by these locations is produced by Mondi, help... |
Buzzi Unicem modifies corporate structure15 December 2022, Published under Cement NewsBuzzi Unicem’s corporate revision project, which had already been approved by the Board of Directors and communicated on 3 August 2022 and 8 November 2022, has been implemented. The project provides for the contribution in kind of the business unit relating to the cement operations in Italy in favour of Buzzi Unicem Srl, whose share capital is held entirely and directly by Buzzi Unicem SpA. The project, within the scope of consolidation, aims to make the corporate structure of Buzzi Unice... |
Holcim divests business in Russia14 December 2022, Published under Cement NewsHolcim has signed an agreement to sell its business in Russia to the local management team. With the new owners, the business will operate independently under a different brand, said the company in a statement. Closing of the transaction will be subject to regulatory approvals. “This divestment completes Holcim’s market exit from Russia in line with the company’s values to operate in the most responsible manner,” added the company. The Russian business has been deconsolidated since March 2... |
Cementa gets go-ahead for Gotland quarry14 December 2022, Published under Cement NewsA Swedish court has given Cementa the green light to continue mining limestone at its quarry on the island of Gotland, heading off the risk of a shortage of cement in the building industry, reports Reuters. Cementa, which is part of Heidelberg Materials , has been clashing with local groups over plans to extend mining on Gotland, where the company produces about 75 per cent of the cement used in Sweden. The court said in a statement that it had decided that a nearby nature reserve, pro... |
UltraTech Cement commissions 1.9Mta grinding plant14 December 2022, Published under Cement NewsUltraTech Cement ( Aditya Birla Group ) has commissioned its 1.9Mta greenfield clinker backed grinding capacity at Pali Cement Works , Rajasthan India. This forms part of the first phase of capacity expansion announced in December 2020, as informed earlier by our letter dated 3 December 2020. The company along with its subsidiary now has 16.25Mta cement capacity in the state of Rajasthan spread over five separate plant locations. UltraTech Cement’s total cement manufacturing capacity i... |
Vicat increases stake in Sinai cement14 December 2022, Published under Cement NewsFrance-based Vicat SA has increased its stake in Egypt’s Sinai Cement from 51 per cent to 67 per cent. According to Reuters, Vicat bought additional shares worth US$5.65m from separate investors on 13 December 2022. Shareholder Arab Industrial Investment reportedly sold its 6.6 per cent share for US$2.29m. Vicat reported consolidated sales of EUR2697m in the 9M22, up 15.7 per cent YoY at constant scope and exchange rates. The growth came on the back of solid sales improvements in all r... |
Dalmia Bharat to acquire Jaiprakash Associates Ltd13 December 2022, Published under Cement NewsFollowing CemNet's Jaiprakash Associates Ltd news story on Monday , Dalmia Bharat Cement has announced the acquisition of the cement assets of Jaypee Group 's flagship company Jaiprakash Associates Ltd (JAL) and its associate company's at an enterprise value of INR56,660m (US$). In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement (Bharat) Ltd (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and po... |
Lafarge Cement Zimbabwe appoints new Acting CEO13 December 2022, Published under Cement NewsLafarge Cement Zimbabwe Ltd has appointed Innocent Zulu Chikwata as Acting Chief Executive, effective from 1 December 2022. Mr Chikwata has 16 years experience in the fast-moving consumer goods and construction materials industries and has worked for Colcom, Innscor Africa Group and LafargeHolcim. He has held various positions in sales, marketing and operations with PProfit & Loss oversight and has worked with start-ups and global branding organisations. Having joined Lafarge in Novemb... |
Yanbu Cement pays out US$31m in dividends12 December 2022, Published under Cement NewsYanbu Cement Company is to pay out cash dividends worth SAR118.12m (US$31.49m) to shareholders in the second half of 2022. This represents 7.5 per cent of capital. According to the bourse disclosure, the Saudi Arabia-based company will disburse SAR0.75 per share for 157.5m eligible shares. The cement producer reported a 4.38 per cent YoY advance in net profit after zakat and tax to SAR156.24m in the opening nine months of 2022. Revenues slipped 0.13 per cent to SAR741.9m, while earning... |