Cement News tagged under: Weekly Newsletter
Argos Board approves sale 20% stake in Argos Panamá24 August 2016, Published under Cement NewsThe Board of Cementos Argos has approved the sale of 20 per cent of shares of Argos Panama for the sum of US$126m. Buyer is the Grupo Provivienda, controlled by Federico Salazar, a Colombian-Panamanian investor. The company is part of the Grupo Cusecar, which has 22 years of experience in the construction sector in Panama and Central America. The sale is part of Cementos Argos’ plan to raise funds for the financing of the Martinsburg plant in the US by a divestment of US$350m. |
Vietnam cement sales reach 45.02Mt in Jan-Jul 201623 August 2016, Published under Cement NewsInclement weather conditions resulted in Vietnam’s cement sales slipping to 5.15Mt in July, but prices remained stable, according to the country’s Ministry of Construction. Exports stood at 1.1Mt. In the first seven months of this year, Vietnam’s cement sales reached 45.02Mt. Around 35.52Mt was sold in the domestic market, up 14 per cent YoY, while 9.5Mt of cement and clinker were exported, 1.6 per cent less than in Jan-Jul 2015. At present, Vietnam has 76 cement production lines and a... |
Iran: exports reach 4.4Mt in first four months22 August 2016, Published under Cement NewsIran exported 2.57Mt of cement and 1.83Mt of clinker in the first four months of the current Iranian calendar (20 March-21 July 2016), according to the Secretary of the Cement Industry Employers Association, Abdolreza Sheikhan. Domestic output by the country’s 70 cement plants reached 18.75Mt during this period. In the past Iranian calendar year 1394 (ended on 19 March 2016), exports of cement and clinker stood at more than 15Mt, a 20 per cent decrease compared to the preceding year due t... |
Peru: Votorantim to buy assets of Cementos Orotongo22 August 2016, Published under Cement NewsVotorantim Cimentos has made an agreement with Concesur (Consorcio Cementero del Sur) to purchase the cement assets of Cementos Orotongo acquired by Votorantim in 2012 from Cimpor. The deal is worth US$4m and includes a project to set up a US$125m cement plant at La Joya with a capacity for 650,000tpa of cement and 1500tpd of clinker. This plant project was originally planned in 2011. Votorantim is also setting up a cement plant at Pachacamac, southern Lima, in alliance in Cementos Bio B... |
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal18 August 2016, Published under Cement NewsHeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man... |
Sagar Cement to invest US$22m in new capacity18 August 2016, Published under Cement NewsIndia-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha”. ... |
Cementos Argos 2Q16 US results remain strong17 August 2016, Published under Cement NewsFor the second quarter Cementos Argos' cement volumes decreased by 1.9 per cent, totalling 3.5Mt, as a result of a challenging market environment in Colombia. These results were compensated by the US regional division, where Cementos Argos grew 16.3 per cent. In the ready-mix segment the company sold 3Mm 3 , up 1.1 per cent from the previous year. Cementos Argos registered double-digit growth in revenues, EBITDA and net income, driven by the US, Caribbean and Central America operations an... |
Denmark: FLSmidth 2H16 revenues fall 19%16 August 2016, Published under Cement NewsFLSmidth's revenue decreased 19 per cent to DKK4135m (US$620.7m) in 2Q16 (2Q15: DKK5093m or US$764.5m). The revenue improved sequentially from 1Q16 but was nevertheless lower than expected in 2Q16. The gross profit in 2Q16 decreased to DKK1078m from DKK1327m in 2Q15, corresponding to a gross margin of 26.1 per cent (2Q15: 26.1 per cent). The gross margin is still holding up despite pricing pressure and under-absorption due to the lower than anticipated revenue, says FLSmidth. Forei... |
Germany: KHD suffers 1H16 revenue fall by 25.5%16 August 2016, Published under Cement NewsKHD's 1H16 revenue amounted to EUR66.6m, considerably lower than the figure for the previous year (EUR89.4m). Reasons for the decrease of 25.5 per cent are the relatively low order backlog at the beginning of the year, delays in project execution, reductions in order value and order intake that did not materialise in the 1H16. The gross profit for the first half-year was EUR-2.1m (previous year: EUR-10.5m). Cost of sales include EUR3.8m of idle capacity costs due to under-utilisation of ex... |
Kurdistan: new Inekon Group plant15 August 2016, Published under Cement NewsInekon Group has signed a contract for a new plant project in the Iraqi region of Kurdistan worth US$450m. Project Manager, Michal Obrucník, said that the end customer is a Kurdish joint stock company and that it is close to completing talks on project financing. Project implementation is expected to being in September 2016. Commencement of construction of the new plant is forecast for March-April 2017, with completion expected June 2019. |