Cement News tagged under: corporate
UltraTech Cement26 June 2014, Published under Cement NewsThe Bombay and Ahmedabad High Courts have given their approval of UltraTech’s acquisition of Jaypee Cement Corporation’s unit in Gujarat, India. The deal includes a 4.8Mta cement plant at Sewagram, a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty also at Sewagram. The transaction has a total enterprise value of INR38,000m (US$637.8m). As part of the deal, UltraTech will absorb INR36,500m (US$614m) of debt from Jaypee Cement Corporation and ... |
Dangote Cement26 June 2014, Published under Cement NewsThree contractors, including Sinoma Engineering, have been fined ZMW18,000 (US$2965) each for failing to register with the National Council for Construction (NCC) before starting work on Dangote’s new US$450m cement plant in Masaiti, Zambia. Failure to register or to pay the penalty fees led the NCC to suspend construction at the new plant on 6 June. The 1.5Mta plant is due to start production in August this year. However, following an emergency meeting held on 7 June, the three contract... |
PT Semen Indonesia26 June 2014, Published under Cement NewsSemen Indonesia, which includes subsidiaries Semen Gresik, Semen Padang and Semen Tonasa, saw sales rise 4.5 per cent to 10.5Mt in January to May this year. The company, which is the largest cement producer in Indonesia, currently has a 44 per cent share of the country’s cement market and is planning to increase its total cement capacity to 40Mta over the next three years. Along with investments in Singapore, Cambodia, Laos and Myanmar, the cement producer has also announced plans to buil... |
Cementos Argos26 June 2014, Published under Cement NewsCementos Argos will be hoping to cash in on Colombia’s surging economy that has been named as the fastest-growing economy in the world in 1Q14, apart from China. Far exceeding analyst predictions, Colombia’s economy expanded by 6.4 per cent in the first quarter of this year, compared to the same period last year, representing its strongest first-quarter result since 2007. It has been just over a year since the government announced its stimulus package designed to boost the economy and sup... |
Anhui Conch Cement Co26 June 2014, Published under Cement NewsAnhui Conch will welcome news from HSBC that China’s economy is finally showing signs of expansion. According to the bank, its purchasing managers’ index, which measures activity at smaller factories, has reached a reading above 50 for the first time since December last year. Analysts are confident that the government’s stimulus measures implemented over recent months are having a positive impact. There is good news for the construction sector with the government announcing plans to build... |
PT Indocement26 June 2014, Published under Cement NewsWith Indonesia due to hold its presidential elections on 9 July, the country’s cement producers will be bracing themselves for a drop in cement demand if April was anything to go by. According to the Indonesian Cement Association (ASI), cement sales fell 0.4 per cent in April due to the legislative elections, which prompted many companies to put construction projects on hold. Sales picked up again in May, rising 7.7 per cent to 5.2Mt, and the ASI remains confident that sales will see an expa... |
China National Building Materials (CNBM)26 June 2014, Published under Cement NewsCNBM will be encouraged by recent reports of an upturn in manufacturing activity in China, suggesting a stabilising of the economy. Robust consumption, a recovery in external demand and new growth support measures including infrastructure investments are reportedly driving the recent acceleration in manufacturing, which saw HSBC’s purchasing manager’s index rise about 50 points for the first time since December last year. However, the World Bank remains cautious, predicting economic grow... |
Lafarge Pakistan to go under hammer26 June 2014, Published under Cement NewsThree leading Pakistan cement producers are gearing up to acquire a majority holding in Lafarge Pakistan, with the bidding process expected to be concluded in the coming weeks. Bestway Cement, DG Khan and Kohat Cement, have received approval from their respective board of directors to separately bid for the acquisition of acquisition of 1.1bn ordinary shares of PKR10 each of Lafarge Pakistan, representing 75.86 per cent of the total issued and paid-up share capital of Lafarge Pakistan. ... |
Bamburi Cement names new CEO26 June 2014, Published under Cement NewsBamburi Cement, part of the Lafarge group, has announced the appointment of Bruno Pescheux as chief executive officer and a member of the Board of Directors, effective 21 July 2014. Mr Pescheux previously held the position of CEO of Lafarge Syria. He takes over from Hussein Mansi who has been Bamburi Cement’s CEO over the past five years. |
Journey of Hope23 June 2014, Published under Cement NewsLast year, Hope Construction Materials (HCM) became the first major new name in the British building materials sector for more than a decade following the purchase by Mittal Investments of former Tarmac and Lafarge assets, including the largest cement plant in the UK at Hope. As the British cement market continues to show signs of strengthening, Chris Plant, chief executive officer of HCM, talks to ICR about Mittal’s timely entry into the cement industry, the company’s performance to-date an... |