Cement News tagged under: corporate
Alexandria Development seeks 100% acquisition of Alexandria Portland Cement09 December 2019, Published under Cement NewsEgypt’s Alexandria Development Ltd (Titan Cement International) has announced its intention to acquire the remaining 11.07 per cent stake in Alexandria Portland Cement. It already owns 88.93 per cent of the company and is expected to offer EGP6/share (US$0.37/share) in cash for the remaining stake. Once the deal completes, the company would delist Alexandria Portland Cement from the Egyptian Exchange, according to Reuters. |
Domicem surpasses 1Mt output mark09 December 2019, Published under Cement NewsDomicem, based in the Dominican Republic, has set a new production record. The company surpassed the 1Mt mark for the first time in its history. Adriano Brunetti, Domicem’s managing director said it was “a record consumed volume, which shows shows the growth and development of the country leading it from being a born importer of cement to a self-sufficient producer with export of 20 per cent of its production. ” He added that total industry sales in the country are expected to reach 5Mt t... |
Sagar Cements records 27% fall in production09 December 2019, Published under Cement NewsIndia’s Sagar Cements has seen the company's standalone cement production/purchase decline 27.4 per cent to 172,160t in November 2019, compared to 236,967t in the year-ago period. Consolidated cement production was down 23.1 per cent YoY to 244,291t from 317,796t. Standalone cement sales for the month also fell 29.4 per cent to 167,720t from 237,409t sold in November 2018. Consolidated cement sales dipped to 241,195t, a decline of 23.5 per cent compared to 315,106t in the previous year’s ... |
HeidelbergCement completed Bangladesh acquisition09 December 2019, Published under Cement NewsHeidelbergCement Bangladesh has informed Dhaka Stock Exchange that it completed the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd and Emirates Power Co Ltd from UltraTech Cement Middle East Investments Ltd. The company has further informed that on 5 December 2019, the transaction (as per conditions of share purchase agreement) has been completed and the Emirates Cement Bangladesh Ltd and Emirates Power Co Ltd are now wholly-owned subsidiaries of the compa... |
Natal Portland Cement cleared in price-fixing case06 December 2019, Published under Cement NewsSouth Africa's leading antitrust tribunal has dismissed a price-fixing and market division case against Cimpor-owned Natal Portland Cement (NPC) more than a decade after an investigation was launched. The competition investigation was originally launched in 2008 and included PPC, AfriSam and Lafarge. The tribunal has come to the conclusion that NPC had not engaged in a price war. "It [NPC] was operating at maximum capacity, which it could not increase, and operated mainly, almost exclusivel... |
Cementos Molins signs EUR180m green loan06 December 2019, Published under Cement NewsSpanish cement producer Cementos Molins has signed a EUR180m green loan to refinance all of its domestic debt and extend its maturity by five years. The agreement includes one EUR40m loan and a EUR140m revolving credit facility, of which EUR50m are already available with the balance to be used for future projects. Agent bank and coordinator of the loan is Caixabank while Sabadell, BBVA, Santander and HSBC also granted the loan. The refinancing was reportedly closed at an interest rate ... |
CIMERWA reports 20% sales increase06 December 2019, Published under Cement NewsRwanda-based CIMERWA posted a 20 per cent YoY increase in its sales volumes and a 28 per cent growth in revenues to RWF514m (US$560,342) in the 9M2019, attributed to the maintenance and upgrade of its 0.6Mta cement plant in Rusizi, Western Province, in 2018. CIMERWA currently produces 480,000t of cement, a significant advance when compared with an output of 364,864t of cement in 2018, less than 60 per cent of the country’s cement demand. Cement shortages saw domestic cement prices surge b... |
Shareholders approve CCNN-Obu merger06 December 2019, Published under Cement NewsShareholders of Cement Co of Northern Nigeria (CCNN) and Obu Cement Co have unanimously approved the merger of the two entities into Obu Cement plc. This implies that all the assets, liabilities, licences and undertakings of CCNN, including employees, real property and intellectual property right, have been transferred to Obu Cement. Also, the entire issued share capital of CCNN, comprising 13,143,500,966 ordinary shares of 50 kobo each be cancelled and CCNN be dissolved without being woun... |
Pakistan cement dispatches grow strongly in 5MFY19-2005 December 2019, Published under Cement NewsAll Pakistan Cement Manufacturer Association (APCMA) has released dispatch data for November and for the five months of July-November 2019. According to APCMA, Pakistani cement dispatches in July-November 2019 increased 2.9 per cent YoY to 16.854Mt, while exports were up 21.5 per cent YoY to 3.608Mt. Overall cement dispatches grew by 5.8 per cent to 20.462Mt. In November 2019 the country's cement industry dispatched 3.538Mt to the domestic market, representing a YoY expansion of 5.1 per ce... |
BASF in talks to sell construction materials business to Lone Star04 December 2019, Published under Cement NewsGermany’s BASF and private equity firm Lone Star are reportedly in exclusive negotiations for the sale of the former’s construction chemicals business, according to Bloomberg. Estimations have placed the unit at a value of around EUR3bn. In 2007 BASF acquired the business from Degussa, predecessor to Evonik, for EUR2.7bn but put the business up for sale last year. Following talks with LafargeHolcim, Cinven, which owns Chryso, and Bain Capital, owner of MKM, were both said to be in the run... |