Cement News tagged under: corporate
Dandot Cement Co announces 81% fall in net sales06 January 2021, Published under Cement NewsPakistan’s Dandot Cement Co has announced an 81.4 per cent YoY fall in net sales to PKR296m (US$1.84m) for the year ended 30 June 2020, compared to PKR1.59bn in the previous year. The company also reported a loss after tax of PKR695m against a PKR624.5m profit in the FY18-19. |
ACC Ltd starts brownfield expansion of Sindri cement plant06 January 2021, Published under Cement NewsACC Ltd (LafargeHolcim group) has started its new Sindri cement plant in Jharkhand, India. The new facility will add 1.4 Mta of cement capacity to its existing 3Mta unit at this site. The foundation stone of Sindri grinding unit Phase 2 was laid in December 2019 with the aim to contribute significantly to servicing the growing market, strengthen presence in the eastern region and add value to the business. The facility will manufacture low-CO 2 and environment-friendly cement ... |
Argos USA ready-mix to settle alleged price-fixing case06 January 2021, Published under Cement NewsArgos group's ready-mix concrete subsidiary, Argos USA, is to settle a US$20m payment over an alleged price-fixing cartel involving several members of staff in the state of Georgia, USA. According to the US Department of Justice, Argos USA "admitted to participating in the charged conspiracy, and agreed to cooperate fully with the Antitrust Division's ongoing criminal investigation and prosecution of others involved in this conspiracy." Argos USA's management stated that the alleged pric... |
Holcim (Belgium) NV takes over Givet quarry05 January 2021, Published under Cement NewsHolcim (Belgium) NV takes over the quarry of Givet in the Ardennes department, northeastern France. The Givet quarry has an exploitation licence of 1Mta. It is located on the banks of the River Meuse with a loading quay and direct entry to the production site. It also has good connections to the rail network. The acquisition will enable the company to strengthen its offer of aggregates for the production of concrete, develop its sales in northern France and drive its sustainability progra... |
Cooperativa Cruz Azul councils take control of Oaxaca plant05 January 2021, Published under Cement NewsThe administration and surveillance councils of Mexico’s Cooperativa Cruz Azul have reportedly taken back operational and administrative control of the company’s cement plant in Lagunas, Oaxaca, according to Reporte Indigo. The councils are headed by José Antonio Marín and Víctor Manuel Velásquez. However, other partners have indicated that the recent takeover of the plant will be legally fought. In October last year, an attempt was made to execute a judicial order to retake the facilitie... |
BUA Cement completes NGN115bn Series 1 corporate bond issuance05 January 2021, Published under Cement NewsBUA Cement Plc has successfully completed its NGN115bn (US$291bn) Series 1 corporate bond issue as part of its NGN200bn bond issuance programme. The development is the largest ever corporate bond issuance in the Nigerian Debt Capital Markets. BUA Cement's N100bn Series 1 issue is a seven-year issuance priced to a rate of 7.5 per cent and was oversubscribed by NGN137.82bn. Meanwhile, BUA Cement announced its intention to increase production capacity to 20Mta by 2022. Its newest 3Mta plant i... |
Star Cement looks east for expansion04 January 2021, Published under Cement NewsStar Cement, which has a strong presence in northeastern India, is looking to the east of the country to expand its business. The company is currently expanding its capacity at Siliguri, West Bengal. The company is present in the east with 0.6Mta leased grinding capacity and the new grinding unit at Siliguri is expected to replace this supply, accelerating volume growth. Analysts forecast a utilisation rate of 60-65 per cent of the expanded capacities in FY22. Even if the new unit genera... |
Holcim completes Yocsina closure04 January 2021, Published under Cement NewsLafargeHolcim has announced the definitive closure of the Yocsina plant in Córdoba’s Industrial Zone, Argentina, to focus its activity in Malagueño from 31 March 2021. In a note sent to the National Securities Commission, Holcim reported: “As of March 31, 2021, the company will unify all its cement grinding operations at the Córdoba industrial zone, located in the town of Malagueño, at the plant which bears the name of said town and is part of said industrial zone, discontinuing the grindi... |
Adani Cementation awarded new jetty clearance04 January 2021, Published under Cement NewsAdani Cementation has been authorised by the state environment ministry to build a captive jetty in Raigad district, India. The new jetty will supply the company’s planned cement plant, near Shahbaj village, in Alibag taluka. The proposed site consists of a berth head, conveyor line and mooring facilities. For the jetty, 2ha of land are to be prepared and a further 1.5ha for the conveyor corridor and approach road. The facility will be able to handle fly ash, slag and cement. The material... |
Southern Province Cement elects new board members04 January 2021, Published under Cement NewsSaudi Arabia's Southern Province Cement Co has elected new members to the board of directors for its new session, which began on 1 January 2021 for a period of three years. As such, Dr Hamad Bin Suliman Al-Bazai will serve as the new chairman of the board. Mohammed Bin Nasser Al-Nabit is vice-chairman and Saud Bin Safar Al-Bargan is secretary of the board. |