Cement News tagged under: corporate
HeidelbergCement Bangladesh calls EGM to approve amalgamation08 January 2020, Published under Cement NewsHeidelbergCement Bangladesh Ltd has further updated all concerned stakeholders and investors about its ongoing scheme of amalgamation though the Dhaka Stock Exchange (DSE). In a stock filing, the company says that furtther to their earlier news disseminated by the DSE on 26 December 2019 regarding seeking court approval for amalgamation with Meghna Energy Ltd, the Board of Directors has decided to hold an EGM to get approval of the scheme of amalgamation for merger of Meghna Energy Ltd wi... |
McInnis Cement appoints new CEO and COO08 January 2020, Published under Cement NewsCanada’s McInnis Cement has announced the appointment of Baudouin Nizet as president and CEO, effective immediately. Mr Nizet succeeds Jean Moreau, who has served as interim president and CEO since August 2018. "The McInnis Cement Board of Directors is convinced that Mr Nizet will be able to lead McInnis through its next growth stages, while enhancing our corporate vision of producing quality cements in a sustainable, profitable and responsible manner," said the company in a statement. Th... |
Fauji Cement Co announces Board of Directors members08 January 2020, Published under Cement NewsFauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Maj Gen Tahir Ashraf Khan, HI(M), (Retd), non-executive director, has resigned from the Board of Directors FCCL with effect from 1 January 2020. He is succeeded by Maj Gen Abid Rafique, HI(M), (Retd) who has joined the board with effect from 1 January 2020. Furthermore, with effect from 1 January 2020, Fauji's company board consists of following non-executive directors: Lt Gen Syed Tariq Nadeem Gilani, HI(M... |
Mario Bollo appointed as new Geocycle manager08 January 2020, Published under Cement NewsGeocycle has appointed Mariano Bollo as its new manager in Argentina. Mr Bollo is a chemical engineer with an MBA from the Universidad Católica de Salta. He started his career at Holcim Argentina in 2006, fulfilling different roles at the company’s cement plants in Jujuy, Mendoza, Córdoba and Buenos Aires. “I feel very fortunate to be able to lead the Geocycle team and in this way, strengthen the involvement of governments and society in general to improve the environmental conditions of... |
Ohorongo Cement to be acquired by West China Cement06 January 2020, Published under Cement NewsNamibia's Ohorongo Cement is set to be acquired by West China Cement for US$104m, following an agreement made on 3 January. The takeover is expected to completed soon but is subject to Namibian regulatory approval. Negotiations reportedly began last year when the owners of Ohorongo Cement announced plans to sell its mine which has over 80 per cent of the site’s raw materials. The sale and purchase agreement is subject to certain conditions which must be satisfied by 31 March 2020 in or... |
Pan-United signs MoU for AI development06 January 2020, Published under Cement NewsPan-United Corp of Singapore has signed a Memorandum of Understanding (MoU) with South Korea's largest ready-mix company, Eugene Corp, to explore the possible use of artificial intelligence (AI). The MoU will allow Eugene Corp to assess and evaluate the utility of Pan-United's AiR platform, before exploring further opportunities for the adoption of the software. |
East African Portland Cement defaults on KCB Bank loan03 January 2020, Published under Cement NewsEast African Portland Cement Company (EAPCC) has defaulted on a KES263m (US$2.6m) loan it took from KCB Bank, prompting the lender to recall the credit facilities, reports PricewaterhouseCoopers (PwC). PwC's report relates to an audit of the cement manufacturer’s accounts for the year ended June 2019. "In the year under review, the entity defaulted on the contractual loan repayments to KCB Bank, totalling KES263m, prompting the lender to issue a demand notice dated 8 April 2019 for all it... |
UltraTech Cement reduces cement price in Jammu and Kashmir03 January 2020, Published under Cement NewsIndia’s UltraTech Cement has reduced the price of cement in Jammu and Kashmir following the abolition of a toll tax in Lakhanpur, according to the region’s Department of Information and Public Relations. As a result, the price is reportedly decreasing to INR380/bag (US$5.29) from INR445/bag. The goods toll, previously being enforced under the Jammu and Kashmir Levy of Tolls Act 1995, has ceased to operate with effect from 1 January 2020. |
Director of Fauji Cement resigns03 January 2020, Published under Cement NewsPakistan’s Fauji Cement Co Ltd has announced that Tahir Ashraf Khan has resigned from his position as director of the company, with effect from 1 January 2020. The company has not yet named a successor for this position, but appointed a new non-executive director in October 2019 . |
Oman Cement Co announces new 5000tpd plant02 January 2020, Published under Cement NewsOman Cement Co has issued an EPC tender for a new integrated cement plant in Duqm with a clinker capacity of 5000tpd. The plant will be operated as Alsahawa Cement Co (ASCC). The project is expected to be implemented in a backward integration mode, where cement will be produced by ASCC after receiving clinker from its parent company. Through this process, cement is anticipated to be available by September 2021. Construction of the clinker line will begin in parallel with the grinding facil... |