Cement News tagged under: Weekly Newsletter
Buzzi completes acquisition of the Zillo Group05 July 2017, Published under Cement NewsBuzzi Unicem has completed the acquisition of the Zillo Group with the purchase of the remaining 52.1 per cent of the share capital of Cementizillo, the Italian cement major confirmed in a statement earlier this week. Following completion of the deal, Buzzi Unicem owns 100 per cent of the company. The acquisition includes two integrated cement plants at Moncelice and at Fanna and will make Buzzi the clear leader in the northeast of the country. Not only does mean Buzzi closes the gap on It... |
New Country President for Cemex UK04 July 2017, Published under Cement NewsMichel Andre has been appointed as the Country President for Cemex UK, with immediate effect. Andre joins the UK business following seven years as Country President for Cemex France. Mr Andre has worked for Cemex France for a total of 12 years with senior roles in Strategic Planning and the Readymix business. Prior to joining Cemex, he worked for Lafarge in the US and France and five years at Pricewaterhouse Coopers. Besides his role as Country President of Cemex France Mr Andre was a boar... |
Votorantim Cimentos to inaugurate Sivas plant03 July 2017, Published under Cement NewsVotorantim Cimentos is to inaugurate its cement works in Sivas, Turkey, as part of its drive for geographic diversification. International operations account for 40 per cent of its revenues, a share that is expected to grow next year as the expansion of the Charlevoix (MI), USA, works comes online. ‘Geographic diversification works as a "hedge," which compensates for the situation we're going through in Brazil,’ said company president, Walter Dissinger. Therefore, it is expected that ... |
Colombian sales dip under 1Mt mark28 June 2017, Published under Cement NewsColombian grey cement deliveries slipped 0.6 per cent YoY to 0.999Mt in May 2017, according to DANE, the country’s statistics office. This compares favourably with a 5.3 per cent market contraction reported in May 2016. Rains in several parts of the country have affected sales, according to local sources. The market of Casanare saw sales drop by nearly a third while Norte de Santander and Cesar reported decreases of around 15 per cent. The regions of Valle del Cauca and Atlántico reported ... |
Moody's upgrades Eagle to Investment Grade28 June 2017, Published under Cement NewsMoody's Investors Service upgraded the senior unsecured debt ratings of US-based Eagle Materials Inc to Baa3 from Ba1. The rating outlook is stable. The upgrade reflects Moody's view that Eagle Materials has the willingness and ability to defend its investment grade rating in a downturn. The upgrade is also supported by strength in the company's financial ratios, "which are among the best in the building materials rated universe," Moody's notes. Eagle Material's adjusted debt-to-EBITDA... |
Holcim New Zealand posts full-year loss28 June 2017, Published under Cement NewsHolcim New Zealand, reported a loss of NZD12.3m (US$8.9m) for 2016 from a profit of NZD80m in the previous year, as it transitioned from ceasing cement production from its Westport facility to becoming an importer, thereby incurring higher distribution costs. "We had higher distribution costs due to the transition of our business away from manufacturing," a company spokeswoman said. "Our results for 2016 and YTD 2017 are in line with expectations given our focus last year was on bu... |
4M17 sales retreat 5.3% in Morocco28 June 2017, Published under Cement NewsCement sales in Morocco have fallen 5.3 per cent in the first four months of 2017 YoY following a 3.5 per cent rise the previous year, according to the Moroccan Economics and Finance Ministry. The fall has been attributed to the drop in sales in Marrakech-Safi (-11.7 per cent), Casablanca-Setta (-6.7 per cent), Tanger-Tétouan-Al Hoceima (-9.7 per cent) and Oriental (-10.4 per cent). Growth in Souss-Massa (+6.9 per cent), Guelmim-Oued Noun (+51.1 per cent, Fès-Meknès (+4.4 per cent), Dakhl... |
Peru cement market contracts 2% in May27 June 2017, Published under Cement NewsPeru’s cement demand reached 774,000t in May, reflecting a two per cent drop YoY, according to Asocem, the country’s cement association. Total deliveries, including exports, decreased 2.8 per cent to 797,000t. Domestic production in May fell 6.4 per cent YoY to 781,000t. Going forward, cement demand is expected to pick up by the implementation of reconstruction works following the Niño Costero damage and infrastructure megaprojects. As a result, 2H17 consumption is forecast to rise five pe... |
Daehan acquired by South Korea's leading producer26 June 2017, Published under Cement NewsSsangyong Cement Industrial Co of South Korea has purchased Daehan Cement Co, the country’s largest blastfurnace slag cement producer at KRW265bn (US$232.8m). The acquisition will enable Ssangyong Cement to secure its leadership over Hanil Cement Co that recently acquired Hyundai Cement Co, a smaller rival. The deal entitles the cement manufacturer to take over Daehan Cement and Daehan Slag Co and will give the company a 24 per cent share in the domestic cement market. Daehan Cement post... |
Gharibwal WHR plant starts operations22 June 2017, Published under Cement NewsGharibwal Cement Ltd has started operations from its 20MW waste heat recovery (WHR) system as well as a conveyor belt at its plant located in Chakwal district, Punjab Province, Pakistan. Earlier, the company informed the Pakistan Stock Exchange that it has finalised a contract with CITIC of China for the supply of an 8000tpd line together with a waste heat recovery system. Furthermore, the first shipment of equipment relating to Gharibwal's new 250tph grinding mill has arrived and erec... |