Cement News tagged under: corporate
Peru's Gloria Group acquires control of Soboce, Bolivia18 December 2014, Published under Cement NewsPeruvian conglomerate Gloria Group has acquired an outstanding 51.35 per cent stake in Bolivia's largest cement producer Sociedad Boliviana de Cemento (Soboce) for US$300m. Gloria previously held a 47 per cent stake in Soboce, once the flagship of magnate and former presidential candidate Doria Medina, with US$280mn in annual sales. Mr Medina, who lost to President Evo Morales in the October presidential elections, opposed Mr Morales' move to nationalise Soboce's 30 per cent stake in cemen... |
Dangote expects first cement from new Cameroon works in January17 December 2014, Published under Cement NewsThe first bagged output from Dangote Cement’s Douala plant in Cameroon is expected to reach the market in the first week of January 2015, according project director Baba Abdullahi. “We will start production next week and our cement will be available in all the towns of the country. We are working to that effect,” he said. “Various tests start on 20 December 2014 and 10 days later, we will start actual production.” During a visit to the site on 8 November 2014, Aliko Dangote explained t... |
Sibirsky unit receives clearance to increase Iskitimtsement stake17 December 2014, Published under Cement NewsRussia’s Federal Antimonopoly Service has allowed Sibirsky Cement unit Topkinsky Cement to increase its stake in Iskitimtsement to 49.9 per cent from 24.97 per cent, Sibirsky Cement said in a statement on Tuesday. In April 2012, Sibirsky Cement acquired a 10 per cent stake in Iskitimsement. It then approached the Russian competition watchdog for permission to buy the remaining 90 per cent stake which was denied. In December the holding raised its stake in Iskitimsement to 24.87 per cent. |
EU clears Lafarge and Holcim merger, subject to asset disposals16 December 2014, Published under Cement NewsLafarge and Holcim have received clearance from the European Commission (EC) for their proposed tie-up, marking a key milestone in the merger process. The decision is conditional upon the divestment of select Lafarge and Holcim operations in Europe which were largely in line with previous company guidance with the exception of a slight change in France. "We are very pleased with the positive decision of the European Commission. It also reflects the quality of the preparatory work perform... |
South Valley Cement 9M14 net profit up 10.5% YoY16 December 2014, Published under Cement NewsGiza-based South Valley Cement Co's net profit for the first nine months of 2014 rose by 10.5 per cent YoY to EGP100.58m (US$14m). Net profit for the corresponding period of 2013 stood at EGP91m, the company said in a filing to the Cairo stock exchange. Last month, South Valley Cement approved a capital increase of more than EGP602.8m and ratified a long-term loan of EGP1.27bn from five Arab banks. The company is planning to use the cash to finance expansion in cement milling and storag... |
Graymont to acquire lime assets from Holcim New Zealand16 December 2014, Published under Cement NewsGraymont, the Canadian lime business, has agreed to buy McDonalds Lime from Holcim New Zealand and New Zealand Steel for an undisclosed sum. An agreement has also been reached for Graymont to acquire Taylor's Lime assets from Holcim. McDonalds Lime is 72 per cent owned by Holcim NZ, with the remainder owned by NZ Steel, and has the country’s largest lime quarry at Oparure, north of Te Kuiti. Holcim has been trying to sell its lime business, which it no longer considers a core business... |
Hope Construction Materials introduces TomTom Telematic to fleet16 December 2014, Published under Cement NewsHope Construction Materials, the UK’s leading independent supplier of construction materials, is introducing TomTom Telematics technology to their 400-strong fleet to improve sustainability and customer service. Installation of the integrated telematics system in cement tankers, tipper trucks and concrete mixers is well underway with the entire fleet set to be connected by the start of 2015. The move will see more efficient route planning and provide a wealth of data on vehicle movements... |
LSR to sell Slantsy cement plant to Eurocement15 December 2014, Published under Cement NewsLSR Group is selling its Slantsy plant in the Leningrad region of Russia to the country’s leading cement producer, Eurocement Group. The parties have signed preliminary sales agreement with Eurocement having obtained approval from Federal Antimonopoly Service of the Russian Federation (FAS). Control of plant operations is expected to be transferred later this month. LSR said in a statement on Friday that the deal is part of its strategy to “focus on projects with highest returns on inves... |
CRH announces clay and concrete disposals15 December 2014, Published under Cement NewsCRH has said that it has reached agreement to dispose of its clay and concrete businesses in the UK and its clay business in the US to funds managed by Bain Capital Europe LLP for an enterprise value of GBP414m (EUR522m). This amount excludes real estate assets with an estimated market value of GBP£30m that are being retained by CRH for future disposal. The transaction is subject to regulatory approvals and is expected to close in 1H15. The business being divested comprises clay compan... |
Cementos Cosmos increases Toral clinker output 6%15 December 2014, Published under Cement NewsCementos Cosmos’ Toral de los Vados cement works in Spain increased clinker production by six per cent this year to 670,000t. Some 185,000t of the plant’s output has been exported, including 35,000t to Brazil, 44,000t to Ghana and 53,300t to Haiti and 52,700t to the Canary Islands. In addition, Toral has also shipped 35,300t of bulk cement to Madeira via the port of Marín, Pontevedra. In December, Cementos Cosmos will be investing EUR2.5m in improving the efficiency of its kiln and re... |