Cement News tagged under: Weekly Newsletter
Groundbreaking ceremony for Ravena revamp14 April 2014, Published under Cement NewsLafarge North America Inc hosted a groundbreaking event on Friday for the multi-million dollar modernisation project at its Ravena cement plant in New York. The modernisation project entails the construction of new plant facilities and the installation of a preheater/precalciner kiln, with a wet scrubber and selective non-catalytic reduction technologies for major emissions reductions and continuous air quality monitoring. Completion is scheduled for 30 June 2016. When the new facilitie... |
Cemex completes financing for wind farm project11 April 2014, Published under Cement NewsCemex has successfully completed the financing of Ventika, a project comprising the construction of two 126MW wind farms each, for a total nominal capacity of 252MW, to be located in General Bravo, Nuevo Leon, Mexico. The investment for the project is approximately US$650m, of which 75 per cent corresponds to debt and 25 per cent to equity. The debt financiers are the North American Development Bank, Banobras, Nafin, Bancomext and Santander. The equity partners are Fisterra Energy, a compa... |
Argos acquires French Guiana assets10 April 2014, Published under Cement NewsColombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase includes a 200,000tpa clinker grinding plant and a port, both located in Degrad des Cannes, close to the capital Cayenne. Argos said the move forms part of the company’s objective to consolidate it operational and logistical cement network. The deal is also in keeping with Arg... |
Brazil: Votorantim Cimentos plans bond buyback10 April 2014, Published under Cement NewsVotorantim Cimentos yesterday unveiled plans to buy back up to US$1.03bn in overseas bonds due 2017, according to a banker close to the transaction. The bonds carried an annual coupon of 5.25 per cent and a yield of 5.32 per cent. The offer will expire 16 April. At the same time, Votorantim Cimentos hired a group of banks to coordinate a road show to promote a new debt sale, another person close to the talks said, making it the latest firm seeking to cash in on renewed appetite for emerg... |
DG Khan plans Balochistan plant, Pakistan08 April 2014, Published under Cement NewsDG Khan is expected to begin construction of a new 2.5Mta plant at Hub, located in the Lasbela district of Balochistan, next year, to lift its market share in the south of Pakistan and facilitate exports. A senior company official told The International News (Pakistan) that it is in the process of finalising vendors for the implementation of the project. In the next phase it will open a letter of credit, the official said, adding that construction work is expected to start in 2015. Balochi... |
Holcim Indonesia to integrate two subsidiaries08 April 2014, Published under Cement NewsHolcim Indonesia plans to integrate two subsidiaries as part of efforts to improve operational efficiency, the company said in a statement on Friday. The Indonesian division of the cement Swiss major plans to merge units Bintang Polindo Perkasa and Wahana Transtama. Holcim now controls 100 per cent of Bintang Polindo after it acquired the ownership from Cemex Asia in 2008. Bintan Polindo owns cement milling facilities with a capacity of 600,000t in Ciwadan, Banten. Meanwhile, Wahana Transta... |
French cement market advances 6.6% in 1Q1407 April 2014, Published under Cement NewsCement consumption in France increased 6.6 per cent to 4.386Mt in 1Q14 compared to 4.115Mt in the same period of last year, according provisional data released by French cement association SFIC. Domestic producers delivered 4.04Mt with the balance supplied by imports. During the quarter, exports rose by 21.8 per cent YoY to 313,000t comprising 269,000t of cement and 44,000t of clinker – a YoY rise of 24.5 and 7.3 per cent, respectively. Last year, French cement consumption fell by 3.8 per ... |
Cemex to appeal Spanish fine07 April 2014, Published under Cement NewsCemex said Spanish tax authorities have fined its Spanish subsidiary EUR455m (US$620m) following an audit of the unit's tax returns for the years 2006 through 2009. Cemex Espana plans to appeal the fines, the company said Friday in a filing with the Mexican Stock Exchange. If the appeals are not resolved in the company's favor, this matter "could have a material adverse impact on our operating results, liquidity and financial situation," Cemex added. The Spanish unit of Cemex h... |
Lafarge Pakistan net sales rise 7% YoY04 April 2014, Published under Cement NewsReleasing further details on its 2013 performance, Lafarge Pakistan Cement said it saw net sales grow by seven per cent to PKR10.302m (US$105m) from PKR9624m. The company increased the use of alternative fuels from 28 per cent in December 2012 to 32 per cent in 2013. Power shortage persisted in the country and to avoid a complete shutdown the company rented generator sets. While this proved to be an extensive alternative, it resulted in a net gain for the company. Gross profit increased to... |
Lucky Cement begins production at Iraq works04 April 2014, Published under Cement NewsPakistan producer Lucky Cement has started production at its 0.87Mta joint venture grinding plant in Basra, Iraq. Lucky Cement CEO, Muhammad Ali Tabba, told local press that production started in February. Mr Ali Tabba explained to Dawn News that the grinding plant is the first phase of development and "if we succeed in our projections, we may go for a full cement production line of 1.25Mt, which may cost around US$125m.” The US$40m project is a 50:50 investment with the Al-Shawy family of ... |