Cement News tagged under: corporate
Cargo Handlers acquires 30% stake in Jamaican cement importer21 December 2020, Published under Cement NewsCargo Handlers Ltd has acquired a 30 per cent stake in Buying House Cement Ltd, a cement importer based in Montego Bay that mostly supplies western Jamaica. Dominican Republic-based Domicem will continue to own 70 per cent of Buying House. According to CHL Chairman Mark Hart, the cement importer holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Co. Mr Hart said the deal for the Buying House stake was recently completed and will take effect on 1 Jan... |
Raysut Duqm Cement Factory financing announced21 December 2020, Published under Cement NewsTo support initiatives to scale up the industrial sector in Oman, ahlibank has announced the financing of OMR8.1m (US$21.1m) for Duqm Cement Factory's new cement grinding plant in Duqm Industrial Estate. A signing ceremony with Duqm Cement Factory, a wholly-owned subsidiary of Raysut Cement, took place on 10 December, the Times of Oman reported. Signing the agreement on behalf of ahlibank was Hanaa Al Kharusi, General Manager – Corporate Banking while Raysut Cement Company was represente... |
Unacem buys Cementos La Unión in Chile for US$23m18 December 2020, Published under Cement NewsPeru-based Unión Andina de Cementos (Unacem) has signed a contract with Cementos La Unión and Aridos Jativa, and the Chile’s Inversiones Mel 20 Ltda for the purchase of the full stake of shares of Cementos La Unión in Chile and 100 per cent of the social rights of Inversiones Mel 20. The contract was signed on December 11 and is subject to compliance with conditions such as approval by the Chilean National Economic Prosecutor's Office. Subject to approval, Unacem will own the 0.3Mta San An... |
AdBri given approval for AUD199m project17 December 2020, Published under Cement NewsAustralia’s Adbri Ltd has been given board approval for an AUD199m (US$151.7m) project that will consolidate two existing cement production sites into a single operation serving the western Australia market and increase production capacity to 1.5Mta from 1.1Mta. AdBri’s Cockburn Cement business has existing production capabilities to service this market at both Kwinana and Munster, located south of Perth. Clinker is currently transported by truck from its Kwinana bulk terminal (KBT) to ceme... |
Cemex España increases ownership in Cemex Latam Holdings17 December 2020, Published under Cement NewsCemex España SA is increasing its shareholdings in Cemex Latam Holdings SA (CLH), which is listed on the Colombian stock exchange, from 73.16 per cent to 92.6 per cent of CLH's paid and outstanding shares. This completes the tender offer made by Cemex España for all outstanding ordinary shares in CLH directed to all shareholders at a purchase price of COP3250 (US$0.95) per ordinary share. 108,337,613 ordinary shares were validated in the tender offer for an aggregate amount of COP352bn ... |
Loma Negra resumes production17 December 2020, Published under Cement NewsThe Argentine Miners Union (AOMA) and Loma Negra have reached an agreement after a 10-hour round of negotiations resulted in new basic and additional salaries for the employees of its limestone supplier Minerar as well as a voice in the Cement Agreement negotiations that start in February, according to BAE Negocios. As Loma Negra resumes production, it is expected that cement dispatches will normalise quickly. Ten days ago, the conflict paralysed two kilns at Loma Negra’s Olavarría plant,... |
Cimerwa reports revenue increase in FY19-2015 December 2020, Published under Cement NewsRwanda’s Cimerwa has seen its revenue increase one per cent YoY to RWF63bn (US$63.79m) in the financial year ended September 2020. Profit after tax reached RWF1.9bn, while EBITDA was at RWF1.95bn for the FY19-20. During the year, Cimerwa produced and sold 421,000t of cement, an improvement on the previous fiscal despite a 40-day shutdown on cement production due to the effects of COVID-19. "There has been an increased demand from a number of large infrastructure projects, such as the c... |
Caribbean Cement agrees three-year labour agreement14 December 2020, Published under Cement NewsThe Union of Clerical Administrative and Supervisory Employees (UCASE) and the management of Caribbean Cement Co Ltd have reached agreement on a three-year collective labour agreement, covering the company’s unionised production workers at its Rockfort cement plant in Kingston, Jamaica. The agreement was reached following several meetings between the company and the union at the local level and covers the period 1 July 2018 to 30 June 2021. The deal will provide an 18 per cent increase... |
Raysut Cement scoops Best Employer Brand awards14 December 2020, Published under Cement NewsRaysut Cement Company (RCC) has picked up seven awards and two Best Employer Brand Awards, one focussed on Oman companies and the other on GCC corporate entities. RCC’s CEO, Joey Ghose, won the ‘CEO of the Year’ honour at both the Oman Best Employer Awards 2020, held in October and GCC Best Employer Awards 2020 held in November. The awards RCC picked up at the Oman Best Employer Brand Awards included recognitions for Promoting Health in the Workplace, Best Use of Technology for Trai... |
Votorantim and McInnis to combine Canadian operations11 December 2020, Published under Cement NewsSt Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos, and McInnis Cement Inc announced that they will combine their assets to create a combined entity to manufacture, distribute and sell cement in Canada and the USA. The joint venture will be owned by Votorantim Cimentos International (VCI), the international investments platform and wholly-owned subsidiary of Votorantim Cimentos SA, the sixth-largest cement producer in the world, and Caisse de dépôt et placement du... |