Cement News tagged under: corporate
Kant modernises packing department01 October 2019, Published under Cement NewsKant Cement plant in the Chui region, Kyrgyz Republic, has modernised the packing department. The company installed a Turbo K8 filling machine from Russia-based Vselug for more accurate and convenient packing of cement. German BERG compressors to clean sleeves also entered service. Kant aims to ship at least 60 per cent of its products in 25kg and 50kg bags. The new equipment will enable the cement plant to provide 24/7 product delivery. |
Kohat and Fecto Cement report fall in profit01 October 2019, Published under Cement NewsKohat Cement and Fecto Cement have announced their financial results for the year ended 30 June 2019. Both companies' profits declined, mainly due to increase in cost of sale and other factors. Kohat Cement Co Ltd (KOHC) declared a net profit of PKR2.4bn (US$15.27m), down by 17.2 per cent YoY, as compared to PKR2.9bn reported in the same period last year. However, sales increased by 16.5 per cent to PKR15.64bn YoY, as compared to PKR13.43bn in the same period last year. KOHC incurred h... |
UltraTech Cement outlines Century 'Scheme of Arrangement'01 October 2019, Published under Cement NewsUltraTech Cement's Board of Directors has declared the Scheme of Arrangement between Century Textiles and Industries Ltd (Century), the company and their respective shareholders and creditors (the Scheme) to be effective from 1 October 2019. For the scheme, the company will issue one equity share of face value INR10 (US$0.14) each for every eight equity shares of face value INR10/each held by the shareholders of Century, as on the record date to be decided by Century. This acquisition furt... |
Raysut Cement signs Duqm plant deals30 September 2019, Published under Cement NewsOmani cement producer Raysut Cement Co, has signed a land lease and Port of Terminal services agreements with Port of Duqm Co for the construction of its US$30m grinding unit. Commenting on the programme, Raysut Cement’s chief executive officer, Joey Ghose, said: "The Duqm unit, which comes after our recent acquisition of Sohar Cements in Oman will help us consolidate and strengthen our presence in Oman and the neighbouring Gulf markets. Our goal is to raise our capacity to 20 million tonn... |
International Cement cancels US$144m deal to buy Schwenk Namibia30 September 2019, Published under Cement NewsInternational Cement Group (ICG) has cancelled its proposed US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The extension came after the Singpore Exchange rejected the acquisition bid in June as Schwenk was not pr... |
Belarusian Cement Co launches 15kg bags30 September 2019, Published under Cement NewsBelarusian Cement Co has introduced cement bags of 15kg. The new packaging option extends the product’s line, which previously was only available in 25kg bags. |
Lehigh Hanson set to acquire Giant Cement's Keystone plant27 September 2019, Published under Cement NewsHeidelbergCement has announced that its north American subsidiary, Lehigh Hanson Inc, has entered into an agreement to acquire Giant Cement’s (Elementia SAB de CV) Keystone facility in Bath, Pennsylvania. The agreed purchase price for the unit is US$151m cash free and debt free, equivalent to US$137/t of capacity. The plant operates 1.1Mta of cement capacity following a kiln line modernisation in 2009. It supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged Portl... |
ARM subsidiary is sold to Huaxin Cement27 September 2019, Published under Cement NewsMaweni Limestone Ltd, the Tanzanian subsidiary of ARM, has been sold to Huaxin Cement of China for US$116m. The acquisition is subject to regulatory approvals. "This transaction will permit Huaxin immediate entry into one of the leading markets in east Africa and is integral to Huaxin's broader strategy to expand its footprint across emerging markets," joint ARM administrators George Weru and Muniu Thoithi of PricewaterhouseCoopers (PwC) Kenya said. The sale follows the sale of the asset... |
Arabian Cement's Rabigh plant to begin operations in 2Q2027 September 2019, Published under Cement NewsConstruction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the delay in construction work has not affected the costs associated with the project and is not expected to... |
Hamma Bouziane achieves 95% production target27 September 2019, Published under Cement NewsGICA-owned Société des Ciments de Hamma Bouziane (SCHB) in Constantine, Algeria, has achieved “up to 95 per cent of its production target” for 2019. "The SCHB has not registered a decline in its activities and its production objectives are met 95 per cent and any delay recorded due to maintenance periods is caught up," said the SCHB President and CEO, Mustapha Kebbous. |