Cement News tagged under: corporate
Fossil to recapitalise Lafarge Zimbabwe15 June 2022, Published under Cement NewsFossil Mining, the new owner of Lafarge Zimbabwe, has said it plans to keep the company on the Zimbabwe Stock Exchange once its takeover of the cement producer is completed. According to the company, it intends to recapitalise Lafarge Zimbabwe, leading to an increase in cement output. “Currently 40 per cent of Zimbabwe’s cement requirements are imported, an opportunity that Fossil wants to capitalise on by providing the market with readily available cement,” the company said, as reported in ... |
Oyak releases its 2021 Integrated Report15 June 2022, Published under Cement NewsOYAK Cement has published its 2021 Integrated Report in which it announces its plans to be a "game-changer" in the cement industry by focussing on sustainability and digitalisation. The company will continue its activities in terms of improving its energy efficiency and pursue a sustainability strategy that will contribute to achieving Turkey's 2050 net zero target. Its OYAK Cement 4.0 Project, which was developed mainly in-house, includes many firsts for Turkey as well as the global ce... |
BekabadCement to launch customer services service15 June 2022, Published under Cement NewsIn the autumn of 2022, BekabadCement JSC , (united Cement Group) is going to launch own customer support service. This lab will be opened at the grinding station in the city of Yangiyo’l , Uzbekistan. The lab will focus on automatic sampling and express analysis of concrete mixtures and soils using the latest foreign technologies. Its services will help select and adjust the composition of the mixtures according to the actual needs of each customer. At the same time, the technic... |
Fitch Ratings upgrades Cemex to BB+14 June 2022, Published under Cement NewsFitch Ratings has upgraded the foreign and local currency Issuer Default Ratings (IDRs) of Cemex to 'BB+' from 'BB', its senior unsecured notes to 'BB+' from 'BB' and its subordinated hybrid issuance to 'BB-' from 'B+'. Cemex's national long-term rating is being upgraded to 'AA-(mex)' from 'A+(mex)', and its national short-term rating is affirmed at 'F1'. The rating outlook is stable. The upgrade reflects Cemex’s ongoing stronger operating performance which, along with asset sales, has ... |
Vassiliko Cement fire caused by shredder14 June 2022, Published under Cement NewsVassiliko Cement suffered a fire over the weekend beause a tyre shredder ignited at the Cypriot cement plant. The director of the environment department, Costas Hadjipanayiotou, who was at the scene on Saturday afternoon said it appeared the fire was caused by a malfunction in a tyre shredder that ignited the spark. The fire broke out on Saturday afternoon in an open area filled with old tyres between the villages of Kalavasos and Mari, and was brought under control before midnight. St... |
Adani Group in discussions to raise US$4.5bn13 June 2022, Published under Cement NewsFollowing its acquisition of Holcim’s business in India, the Adani Group is in discussions with more than a dozen foreign banks in a bid to raise US$4.5bn. According to The Economic Times, this marks one of the largest loan-based fundraisings in foreign currency by an Indian corporate entity. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months. The mezzanine financing may raise US$1bn, while the... |
Steppe Cement increases capex for 2022-2313 June 2022, Published under Cement NewsKazahstan’s Steppe Cement plans to invest US$7m in capex in 2022 and the first half of 2023. Among the projects outlined is the completion of the new separator for cement mill 1 to increase slag content and cement production, and reduce electricity consumption, as well as starting the new separator for cement mill 2. The raw mill 3 separator will be revamped to increase production on Line 6, along with modifications to the Line 6 preheater. Bag filters are to be updated, software for the con... |
Court ruling favours Arabian Cement in Emaar Economic City case13 June 2022, Published under Cement NewsArabian Cement Co reports that it has received a Jeddah commercial court order in its favour, ordering Emaar The Economic City to supply to the company 4.57Mt of limestone based on the agreement signed by the two parties on 28 April 2012. The ruling will be deemed final if no appeal is filed within 30 days. In September 2021 Arabian Cement filed a lawsuit before Jeddah Commercial Court against Emaar EC which is building King Abdullah Economic City, claiming the remaining quantities of l... |
Taiwan cement producers sees dent in revenues in May10 June 2022, Published under Cement NewsTaiwan’s cement producers reported mostly a decrease in revenues in May. Lucky Cement posted a 6.9 per cent YoY drop in May revenue to TWD332.258m (US$11.23m) from TWD357.039m in May 2021. In the first five months of 2022, revenue declined by 11.4 per cent to TWD1548.687m from TWD1748.555m in the January-May period. For Chia Hsin Cement Co the month proved more challenging as it saw revenue down 16.8 per cent YoY as the company posted a revenue of TWD163.521m in May 2022 from TWD196.43... |
Dalmia Bharat Ltd announced INR90,000m capex spending10 June 2022, Published under Cement NewsDalmia Bharat Ltd has said that the government's continued focus on the infrastructure and housing sectors builds ‘optimism’ for the cement industry and the company has committed to a capex of over INR90,000m to expand its manufacturing capacity over the next few years to meet the growing demand. "Aligned with the government's vision of building a stronger India, we committed a capex of INR90,000m over the next few years. We are eyeing greenfield units and the debottlenecking... |