Cement News tagged under: corporate
CMA announces president and VP appointments04 December 2019, Published under Cement NewsIndia’s Cement Manufacturers' Association (CMA) has elected Mahendra Singhi as its president for the second year running. "I'm extremely proud to be associated with CMA during this year of rapid and profound positive environmental impact. I'm looking forward as CMA President to making 2020 an even more prolific year. Indian cement is working on a low carbon technology map and remaining fully sustainable. The cement industry is consciously working on achieving and aligning itself with the S... |
Head of Savannah Cement named CEO of the year03 December 2019, Published under Cement NewsSavannah Cement’s Chief Executive Officer, Ronald Ndegwa, has been named CEO of the year by the Kenya Institute of Management. Mr Ndegwa dedicated the award to the company’s management, staff and customers, describing it as a tribute to their continued co-operation. "Sound management is a sum result of all the stakeholders who relate with Savannah Cement including the management team, staff and loyal customers," said Mr Ndegwa. "The award serves to rededicate our commitment to deliver to ... |
HeidelbergCement reduces its shareholding in Ciments du Maroc to 51%02 December 2019, Published under Cement NewsHeidelbergCement has announced the sale of around 0.5 million shares representing 3.6 per cent of Ciments du Maroc's share capital for an aggregate amount of approximately EUR73m. The shares were sold to certain Moroccan institutional investors through a block trade. Following this transaction, HeidelbergCement will retain a controlling stake of 51 per cent in Ciments du Maroc and continue to fully consolidate the company. "HeidelbergCement is fully committed to remain the long-term majo... |
Ciments du Maroc reports 4% rise in 9M turnover29 November 2019, Published under Cement NewsCiments du Maroc, the Moroccan subsidiary of HeidelbergCement, has posted a 9M19 turnover of MAD2.67bn, up 3.8 per cent YoY. For the third quarter of 2019, the company reported revenues of MAD831m, representing a three per cent fall when compared with the 3Q18. The fall is due lower cement sales volumes as construction sites wound down activity in August. However, turnover is expected to increase by two per cent for the full year of 2019. |
Lafarge Zimbabwe sees cement demand drop 19%29 November 2019, Published under Cement NewsLafarge Zimbabwe has seen a 19 per cent decline in cement consumption. Flora Chinhaire, Lafarge Zimbabwe Company Secrtary reported that hyper-inflation in the country had impacted demand. The Zimbabwe National Statistics Agency's inflation rates for September 2019 saw a 350 per cent rise YoY. “The operating environment in the second half of the year continues to be challenging for the business as the effects of hyperinflation become more evident due to cost inflation caused by devaluation... |
JSW Cement expects UAE unit to be completed by January 202029 November 2019, Published under Cement NewsJSW Cement’s clinker production unit Fujairah, UAE, is expected to be completed by the end of January 2020, according to an interview with the Hindu Business Line. Parth Jindal, managing director of JSW Cement, noted that Ultratech and Ambuja send clinker from Gujarat to be ground near Mumbai. However, the freight from Gujarat and Fujairah to Mumbai is the same because they send it in small vessels and JSW plans to deliver it in big barges. The US$110m project will be the main source of... |
Hima Cement introduces RapidSet cement29 November 2019, Published under Cement NewsUganda’s Hima Cement has introduced a new type of cement, RapidSet, to leverage its position in a competitive market, according to The Observer. The product has been designed exclusively for the precast concrete market due to its rapid hardening attributes. The new cement (42.5R strength) is already available on the domestic market in 30kg bags. “The construction and real estate market continue to grow tremendously, and this drives our commitment to innovate and provide solutions that enha... |
JSW Cement revises IPO and capacity expansion plans28 November 2019, Published under Cement NewsIndia’s JSW Cement has deferred its plan for an initial public offering (IPO) by a year as the slowdown in construction activity continues, according to the Financial Express. It had planned to go public by 2020 once it hit 20Mta of capacity, however, the company has revised this target to December 2021. The company expects to go public with a valuation of around INR250bn (US$3.49bn). "We want to first get to 20Mta before we do an IPO, because that is the critical level at which we will ... |
Eagle Cement acquires Cemex's shares in Kosmos Cement27 November 2019, Published under Cement NewsKosmos Cement Co in Kentucky, USA, a joint venture between Cemex and Buzzi Unicem, has signed an agreement for the sale of certain assets to Eagle Materials. The US$665m transaction is expected to close in the 1Q20 following regulatory approvals. The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves. The net proceeds obtained from this transaction will be distributed to Cemex and Buzzi Unicem in line w... |
CMSB 3Q profit drops 7%27 November 2019, Published under Cement NewsCahya Mata Sarawak Bhd (CMSB)’s net profit declined seven per cent to MYR72.83m (US$17.451m) in the 3Q19, ended 30 September 2019 from MYR78.02m in the 3Q18. The company’s revenue remained stable at MYR467.18m (3Q18: MYR465.17m). The fall was attributed to rising sales costs and a decrease in other income. Cost of sales advanced three per cent to MYR371.29m in the 3Q19 from MYR362.13m in the year-ago period. Other income decreased 63 per cent to MYR3.67m from MYR10.02m over the same period... |