Cement News tagged under: Weekly Newsletter
Corporate restructuring at FLSmidth14 August 2014, Published under Cement NewsFLSmidth has announced a number of organisational structure changes, as well as adjustments to the Group Executive Management. The new organisation will consist of the four divisions. The Material Handling and Mineral Processing divisions will be merged into a Minerals division. Cement and Customer Services will be maintained as separate divisions. A new Product Companies division will be created to foster globalisation and growth of FLSmidth's unique product brands. FLSmidth said the new... |
Aganang works to launch clinker production14 August 2014, Published under Cement NewsSephaku Cement has completed the commissioning of the clinker production facility at Aganang, South Africa, and is ready to commence production, the company said in a statement. The first consignment of clinker will be delivered to the Sephaku’s Delmas grinding plant by the end of the month. Dr Lelau Mohuba, CEO of Sephaku Holdings, said: “The production of its own clinker is an important step for SepCem, enabling it to become a fully-integrated producer of cement. We are confident that it... |
Sagar in talks to buy BMM Cements, India14 August 2014, Published under Cement NewsSagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1Mta integrated cement works along with a 25MW captive power plant near the Tadipatri in Anantapur district of Andhra Pradesh. Sources told the Economic Times of India that a team of Sagar Cements has already inspected BMM’s manufacturing and limestone assets and the legal and t... |
CRH to sell Turkish joint venture14 August 2014, Published under Cement NewsCRH and its Turkish partner, Eren Holding AS, have hired JPMorgan Chase & Co to help sell their cement joint venture in Turkey, according to reports in the Irish Times. Sources familiar with the matter say that three potential bidders are among those shortlisted and the sale process for Denizli Cimento Sanayaii TAS could be finalised as early as October. Companies including Sabanci Holdings, Limak Holding AS and Oyak are reportedly interested in the unit in which CRH holds a 50 per cent sta... |
Oman: Raysut Cement first-half net profit ahead12 August 2014, Published under Cement NewsOman’s Raysut Cement reported a 5.9 per cent rise in net profit in the six months to the end of June 2014 while cement volumes held firm despite heightened competition. The company reported a net profit of OMR15.58m in the first-half of 2014, an increase of 5.9 per cent from the corresponding period last year. Group revenue inched down to OMR49.49m from OMR49.52m. Company chairman Sheikh Ahmed al Ibrahim said the group was able to maintain cement sales volumes at 2013 levels in spite o... |
Pakistan sales decline in first month of new fiscal12 August 2014, Published under Cement NewsPakistan cement dispatches during the first month of the new fiscal (FY14-15) proved disappointing with both domestic and export sales registering YoY declines. Total sales during July 2014 fell 14.12 per cent to 2.23Mt compared to 2.6Mt, latest data from the Pakistan Cement Manufacturers Association (APCMA) shows. Domestic dispatches during July 2014 were down by 6.5 per cent YoY to 1.73Mt. Meanwhile, exports were 503,000t versus 749,000t during July 2013, representing a YoY decline o... |
Fitch affirms HeidelbergCement’s ratings07 August 2014, Published under Cement NewsFitch Ratings has affirmed HeidelbergCement’s Long-term Issuer Default Rating (IDR) at 'BB+' and Short-term IDR at 'B'. The Outlook on the Long-term IDR is 'Stable'. The agency has also affirmed the senior unsecured rating of debt issued by HC's related entities, HeidelbergCement Finance BV, HeidelbergCement Finance Luxembourg SA and Hanson Ltd at 'BB+'. “The affirmation reflects HC's investment grade business profile as the world leader in aggregates and a top three cement producer. Th... |
Asia Cement (China) first-half profit rises07 August 2014, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the six months ended 30 June 2014 rose 49.7 per cent YoY to CNY383m (US$62m). Revenue increased by 23 per cent YoY to CNY3.91bn. The gross profit margin on revenue rose to 24 per cent from 18 per cent. The growth in net profit was mainly attributable to the increase in sales volume and average selling price of Asia Cement's products versus the comparative period of last year. Cement and clinker sales rose 14 per cent YoY to ... |
Limak Cimento in Côte d'Ivoire joint venture06 August 2014, Published under Cement NewsLimak Cimento, part of the Turkish conglomerate Limak Holding, is to enter the Côte d'Ivoire market through a new grinding and packaging plant venture with local partner Afrikbat. The two parties held a signing ceremony in Ankara, Turkey, to establish the joint venture companies named Limak Afrika SA, news agency Anadolu Ajansi reported. Limak will hold a 51 per cent stake. Construction of the 1Mta plant, to be built in Abidjan, will start this year and is expected to launch in the thi... |
Lafarge & Holcim propose Brazilian divestments05 August 2014, Published under Cement NewsLafarge and Holcim have published a list of proposed asset disposals to Brazilian Competition authority CADE, as part of efforts to help win regulatory approval for their planned merger. The joint Divestment Committee has agreed to propose a package of assets from both Holcim and Lafarge which include three integrated cement plants and two grinding units (with a total cement capacity of 3.6Mta) as well as one ready-mix plant, all located in the southeastern region of Brazil. The proposed... |