Cement News tagged under: Corporate
Italcementi obtains EBRD loan for plant revamp04 December 2014, Published under Cement NewsThe Italcementi Group has signed an agreement with the European Bank for Reconstruction and Development (EBRD) granting it a loan for approximately EUR20m to fund the modernisation of the Shymkent cement plant in southern Kazakhstan. In addition to the loan, the EBRD will make an investment of approximately EUR4m in Shymkentcement, for an equity stake of around 21 per cent. The project, arranged under the EBRD policy to support energy efficiency initiatives in Kazakhstan, will replace the... |
South Africa: PPC to reshuffle board03 December 2014, Published under Cement NewsPPC and its investors have agreed to reshuffle the company's board, calling off a special shareholder meeting scheduled for next Monday. “Shareholders are hereby notified that following discussions initiated by [Executive Chairman] Bheki Sibiya with a number of shareholders, the board of directors of PPC has decided to embark on a process that is much more likely to achieve the best outcome for the company and all of its shareholders,” PPC said. The compromise comes as a blow to former... |
US$125m CAF loan signed for Guayaquil project03 December 2014, Published under Cement NewsHolcim Ecuador SA has signed a loan contract for US$125m with the Latin American development bank, CAF. The funds will finance the modernisation of Holcim’s Guayaquil plant. The upgrade programme will see clinker production capacity rise to 3.4Mta, enabling to replace current clinker imports by domestic production and reduce the country’s currency outflow. In addition, some 20 per cent of the investment will be directed to environmental technology to improve the plant’s environmental re... |
UNACEM completes Ecuador acquisition03 December 2014, Published under Cement NewsPeruvian cement producer Union Andina de Cementos SAA (UNACEM) confirmed that it has completed the purchase of Lafarge’s cement operations in Ecuador. "We are pleased with the closing of the transaction, which represents an important step in our growth strategy,” Carlos Ugás, managing director of Unacem. The company closed the acquisition, initially announced in May this year, for approximately US$517m, according to local press reports. The deal involves the purchase of a 1.4Mta cement w... |
Buzzi Unicem finalises Uralcement acquisition02 December 2014, Published under Cement NewsBuzzi Unicem, through its wholly-owned subsidiary Dyckerhoff GmbH, has completed the acquisition of a 100 per cent interest in Uralcement, Russia, from Lafarge. Uralcement is located near the town of Korkino, about 40km south of Chelyabinks. The wet-process plant has a capacity of 1.1Mta. The acquisition lifts Buzzi Unicem's production capacity in Russia to approximately 4.5Mta. |
Eagle Materials announces appointment of COO02 December 2014, Published under Cement NewsEagle Materials Inc has appointed Michael Haack as Chief Operating Officer (COO), reporting to Steve Rowley, president and CEO. “The COO position is a newly-created one in response to the company's significant growth and continued strategic expansion in construction and energy-related markets,” Eagle Materials said in a statement. Mr Haack joins Eagle from Halliburton Energy Services, where he enjoyed a 17-year career, most recently working with the management of Global Operations for Sp... |
China: joint venture formed to restructure Zhongxia Cement02 December 2014, Published under Cement NewsGezhouba Group Cement Co Ltd and Hubei Zhongxia Cement Company Ltd have signed an agreement to form a joint venture to restructure the assets and businesses of Zhongxia Cement. Gezhouba Group Cement is a China-based company that engaged in the research, development, manufacture and marketing of cement. Under the terms of the agreement, the JV, with a registered capital of US$190m, will be engaged in production and sales of cement, clinker and fine slag powder and opencast mining of lime... |
Venezuela: Holcim receives final installment01 December 2014, Published under Cement NewsHolcim today announced that the group has received the last compensation installment in connection with the nationalisation of Holcim Venezuela in 2008. Corporación Socialista Del Cemento SA, which is now operating the former Holcim plant, has transferred the remaining compensation amount of US$97.5m intially due on 10 September 2014, the Swiss cement producer said in a statement. Holcim reported back in October that it was still awaiting the final installment and was in contact with rel... |
Dalmia Cement acquires full control of Bokaro Jaypee Cement01 December 2014, Published under Cement NewsDalmia Cement (Bharat) Ltd has acquired full control of Bokaro Jaypee Cement Ltd (BoJCL), following the purchase of the 26 per cent stake in the company it did not already own. BOJCL was initially set up in 2008 up as a 74:26 per cent joint venture between Jaiprakash Associates Ltd (JAL) and the Steel Authority of India’s (SAIL). In June this year, JAL sold its entire majority shareholding in BoJCL to Dalmia Cement. Shri Rangam Securities & Holdings Ltd, a subsidiary of Dalmia, has now pu... |
Cimpor African results improve 9M1428 November 2014, Published under Cement NewsCimpor's nine-month turnover declined by 1.6 per cent to EUR1952.2m and the EBITDA was off by 4.2 per cent to EUR461.1m as the Brazilian, Argentine and South African currencies declined by 10 per cent, 36 per cent and 14 per cent, respectively. South America generated 69.1 per cent of the EBITDA in the nine months compared with 79.5 per cent a year earlier. The trading profit (EBIT) came down by 2.6 per cent to EUR321.5m and the net financial charges declined by 1.2 per cent to EUR287.1m, to... |