Cement News tagged under: corporate
Surkhoncementinvest commissions first stage of plant18 October 2019, Published under Cement NewsUzbekistan’s Surkhoncementinvest has commissioned the first stage of its cement plant in Jarkurgan district, Surkhandarya. When the facility reaches its full capacity, it is expected to produce 1.1Mta of cement and export 0.75Mta of this product. "Surkhandarya region has enormous economic opportunities. There are many underground wealth, there are almost all the elements of the periodic table. We must effectively use this for the benefit of our people", said Shavkat Mirziyoyev, president o... |
Divestment talk of LafargeHolcim's Australian and New Zealand divisions resurface18 October 2019, Published under Cement NewsLafargeHolcim is reported to be considering exiting Australia and New Zealand, according to The Australian. The AUS$2-3bn (US$1.37-1bn) division has been identified as a means for the group to potentially drive down its debt levels. LafargeHolcim was created through a US$50bn merger of Lafarge and Holcim in 2014 and considered an exit from Australia and New Zealand the following year to cut debt. Lafarge sold its Australian gypsum operations in 2011 for EUR120m to Knauf, but Holcim has rem... |
Bestway Cement’s profits sharply eroded in 1QFY1918 October 2019, Published under Cement NewsBestway Cement Ltd (BWCL) of Pakistan has announced its financial results for the 1QFY19, ended 30 September 2019. It declared a net profit of PKR300m (US$1.97m) against PKR2.257bn earned in the same period last year. It shows 1Q profit plummeted by 86.7 per cent YoY. The fall in profit is reportedly due to a dip in the company's sales and a modest increase in finance costs as shown in the financial results sent to the Pakistan Stock Exchange. BWCL's sales stood at PKR15.47bn in July-Septem... |
Jalabiyeh plant in Syria set on fire18 October 2019, Published under Cement NewsThe international coalition has set fire to LafargeHolcim’s Jalabiyeh plant, just north of Aleppo near the Turkish border, Syria, to prevent the Syrian Arab army taking possession of the plant, according to Réseau Voltaire. "On Oct. 16, after all Coalition personnel and essential tactical equipment departed, two Coalition F-15Es successfully conducted a pre-planned precision airstrike at the Lafarge Cement Factory to destroy an ammunition cache, and reduce the facility's military usefulnes... |
Catatumbo Cements faces disruption from road blockage18 October 2019, Published under Cement NewsThe distribution of cement and other products, including clinker, has been disrupted in the Venezuelan municipalities of Rosario de Perijá and Machiques de Perijá due to the blocking of the main road that connects to the plant of Catatumbo Cements. According to local media reports, a group of cooperatives in the area have closed the La Luna road. The transport cooperatives reportedly wish to obtain 100 per cent control of the transfer and supply of materials (cement, clinker, stone and gra... |
China Tianrui Group Cement enters into new clinker supply agreement17 October 2019, Published under Cement NewsChina Tianrui Group Cement has entered into a new clinker supply framework agreement with Ruiping Shilong, which will remain active until 31 December 2021. While an existing clinker supply agreement for the same term has been active since 1 April 2019, the company has stated that the actual transaction amount may exceed the proposed annual cap. Therefore, the new agreement will supersede the previous arrangement. |
Loma Negra to hire 120 workers for L'Amali II17 October 2019, Published under Cement NewsArgentine cement producer Loma Negra announced it will hire 120 workers for the new line at its US$350m L'Amalí II plant in Bonaerense de Olavarría, Argentina. Of the 120 new positions, 80 will be operators and the rest managers and analysts, according to a company statement. The selection of staff will be carried out both internally and externally and the company will be in charge of carrying out the search. Loma Negra highlighted that the external search will focus on Olavarría and sur... |
Villagers complain about Alpha Cement's use of local road17 October 2019, Published under Cement NewsAlpha Cement has met with further protests about the use of a road leading finished good away from the cement plant in Aung Tha Pyay, Myanmar. The residents maintain that the coal-fired cement factory’s proximity to the Aung Tha Pyay village and Dahat Taw village tract could have serious adverse impact on the environment and the health of the people in the area. Local villagers have complained that the trucks are an environmental problem and that the local roads are only 5.5m wide and not ... |
ACC shows 45% increase in profit for the 3Q1916 October 2019, Published under Cement NewsIndia’s ACC (LafargeHolcim) saw its consolidated net profit rise 44.7 per cent YoY to INR3.03bn (US$42.25m) in the 3Q19, on the back of a three per cent climb in net sales to INR34.64bn. Operating EBITDA was up 26 per cent YoY to INR5.57bn from INR4.44bn. However, consolidated cement sales volumes fell two per cent to 6.44Mt from 6.54Mt in the 3Q18. In the 9M19 net profit increased 40 per cent YoY to INR11.04bn, compared with INR7.88bn in the year-ago period. Net sales advanced six per cen... |
Blackstone enters race for Emami Cement16 October 2019, Published under Cement NewsBlackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about US$1bn. The company operates three cement manufacturing plants in India and is setting up another one... |