Cement News tagged under: corporate
FLSmidth reduces workforce by 50021 January 2020, Published under Cement NewsAs part of business improvement initiatives announced at the end of last year, current industry caution and delays tied to large capital investments, Denmark-based FLSmidth is adjusting the number of its employees by approximately 500, said the company in a statement. It is expected that around 80 people from the Copenhagen headquarters will be dismissed along with around 420 staff in offices around the world. “Despite a healthy pipeline, this is an unfortunate yet necessary action giv... |
Semen Indonesia Group sees 29% rise in 2019 sales20 January 2020, Published under Cement NewsThe total sales volumes of the Semen Indonesia Group, including Thang Long Cement Co (TLCC) and former Holcim subsidiary, PT Solusi Bangun Indonesia (SBI), increased 36 per cent in December 2019 to 3.93Mt from 2.891Mt (before the group’s acquisition of SBI and therefore, not included in the group’s consolidated numbers), according to a company statement. Semen Indonesia saw sales edge up 4.4 per cent to 2.782Mt YoY, of which 2.564Mt in domestic sales (+8.2 per cent) and 218,678t in export ... |
Nuvoco Vistas is expected to acquire Emami Group20 January 2020, Published under Cement NewsNuvoco Vistas, the cement division of Nuvoco Group, is pole position to capture Emami Group, according to the Economic Times. The bid from Nurvoco is expected to beat the bids of UltraTech Cement and Star Cement to gain control of Emami Group's 9Mta of cement production in India. Nuvoco currently operates 11Mta of cement capacity, having acquired LafargeHolcim's India assets in July 2016. Binding bids for Emami Group were made on 10 January 2020. An announcement on the winning bidder is d... |
Fancesa to fall short of sales target20 January 2020, Published under Cement NewsBolivia-based Fábrica Nacional de Cementos SA (Fancesa) will miss its sales and profits targets for the current financial year. The shortfall has been attributed to civic unrest and blockades following the elections that were cancelled due to fraud. “During the 2019 financial year, which closes on 31 March 2020, production was projected at 1,030,000t and the stop will obviously affect production volumes; it will be a success if we produced 900,000t,” said the Government Director of Fance... |
Cementos Progreso acquires Cemento Interoceánico17 January 2020, Published under Cement NewsGuatemala’s Cementos Progreso has acquired a 100 per cent stake in Cemento Interoceanico SA, a Panama-based producer. Fabrega, Molino & Mulino acted as a legal adviser to Cementos Progreso, while Morgan & Morgan represented Cemento Interoceanico, according to Market Line. |
Cemenco completes plant upgrades worth US$14m17 January 2020, Published under Cement NewsLiberia's Cemenco (HeidelbergCement) has commissioned new upgrades worth US$14m at its grinding plant in Monrovia. Following the works, the company’s roller press can now produce 700,000tpa, representing a 30 per cent increase. A new silo with a capacity of 2000t and a bulk cement loading point has also been put into operation. Other additions include a shrink-wrap palletiser, a second bagging line and four Eco Hoppers for unloading at the port. |
Refratechnik Group acquires QMAG17 January 2020, Published under Cement NewsThe Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade electro-fused (FM), dead-burned (DBM), and caustic-calcined (CCM) magnesium oxide products. By the ... |
Mangalam Cement commissions WHR unit16 January 2020, Published under Cement NewsIndia's Mangalam Cement has commissioned new waste heat recovery capacity at its plant in Morak, Rajasthan. The company has initially put 5.15MW into operation. A further 5.85MW is expected to be commissioned during the current quarter (4QFY19-20). |
Pioneer Cement's new kiln line starts production16 January 2020, Published under Cement NewsPioneer Cement Ltd (PIOC) has informed Pakistan Stock Exchange (PSX) that the company successfully ignited its new 10,000tpd kiln line. Company Secretary, Abdul Wahab, said cement production and dispatch from the new line is expected to start soon. The 2.2Mta brownfield expansion is part of the company's Vision 2025 programme, which includes a 24MW coal-fired power plant and 12MW waste heat recovery power plant at Khushab, Punjab. Before this expansion, the company had 2.03Mta of cement ... |
Oman Cement sees net profit decline 45% in 201916 January 2020, Published under Cement NewsOman Cement has recorded a 45.3 per cent fall in its net profit to OMR4m (US$10.4m) for 2019, compared to OMR7.3m in the previous year. Total revenue also declined four per cent YoY to OMR50.12m from OMR52.19m. |