Cement News tagged under: corporate
Dalmia Cement reportedly considers acquiring Emami Cement assets12 September 2019, Published under Cement NewsIndia’s Dalmia Cement (Bharat) has reportedly submitted an expression of interest in acquiring the cement assets of Emami Group, which have been valued at INR60bn (US$841.9m), according to The Economic Times. "Dalmia Bharat is currently studying the financials provided by the bankers of Emami Cement. The strategy will be decided once we conclude our assessment and firm up our intent to proceed. Moreover, we have a healthy leverage but would always keep all options open," said the company i... |
West Pokot cement plant faces further construction delays12 September 2019, Published under Cement NewsSimba Cement has come up against logistical difficulties in the construction of its West Pokot cement plant in Kenya. The project has been in planning for a decade and Simba Cement (National Cement - Devki Group) took over the project when it acquired the Indian company Cemtech Ltd earlier this year. The completion of the factory in Ortum is expected to be delayed by one year and Simba Cement intends to hold public consulations and forums with local residents about the process having receiv... |
Oficemen names Víctor García Brosa as new president12 September 2019, Published under Cement NewsSpain’s cement association, Oficemen, has appointed Víctor García Brosa as its new president. Mr García Brosa is currently deputy general director of Cementos Portland’s managing board. A chemical engineer by training, he entered the cement industry in 2005, when he took up a post in Portland Valderrivas’ strategic planning unit. In 2015 he was appointed director general of the FCC subsidiary. He will succeed Jesús Ortiz, who will step down after a two-year tenure at the helm of Oficemen. ... |
Premiere-Slag International to receive investment for plant project11 September 2019, Published under Cement NewsPhilippine-based AbaCore Capital Holdings Inc has announced a plan to invest up to PHP102m (US$1.9m) in Premiere-Slag International Inc to build and operate a cement plant. In a disclosure on Monday, the holding company said the investment translated to a maximum of a 10 per cent stake in Premiere-Slag, which "will operate a production facility to process and sell cement, or cement mixed with components." The unit is expected to be constructed on a 30,117m 2 site in Mabini town, Batanga... |
LafargeHolcim Bangladesh meets top brass of State of Meghalaya11 September 2019, Published under Cement NewsLafargeHolcim Bangladesh held talks over the continued cross-border transfer of limestone between the state of Meghalaya in India and Chhatak in Banglaesh. The meeting was arranged on the sidelines of LafargeHolcim Bangladesh's Board of Directors meeting held recently in Shillong, Meghalaya. The company brings in limestone from its own mines in Meghalaya to produce clinker and cement at its plant at Chhatak in northeast Bangladesh. Lafarge Umium Mining Ltd is the subsidiary of Laf... |
RAK Cement cancels cement plant acquisition plans11 September 2019, Published under Cement NewsUAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pushed back to the 2Q19 due to incomplete financing procedures. |
Hsing Ta Cement records 22% revenue increase for August10 September 2019, Published under Cement NewsTaiwan’s Hsing Ta Cement has seen a 21.6 per cent YoY increase in revenue to TWD727.86m (US$23.3m) for August 2019, compared with TWD598.65m in the year-ago period. In the first eight months of the year, the company recorded a 21.7 per cent YoY advance in revenue to TWD4.89bn from TWD4.02bn. |
UltraTech MD to step down in December10 September 2019, Published under Cement NewsKrishna Kishore Maheshwari will be appointed as UltraTech's first non-executive vice chairman as he retires from his managing director role on 31 December this year. Kailash Chandra Jhanwar, currently deputy managing director and chief manufacturing officer, will succeed Mr Maheshwari as MD after this date. Before serving three years as MD at UltraTech, Mr Maheshwari was the managing director at Grasim. He is also a director for Aditya Birla Management Corp, a corporate body which provide... |
Emirates Cement to be sold to HeidelbergCement Bangladesh Ltd09 September 2019, Published under Cement NewsUltraTech Cement Ltd (Aditya Birla group) is in the final stages of selling its stake in Emirates Cement Bangladesh to HeidelbergCement Bangladesh Ltd. Emirates Cement operates a 0.5Mta grinding plant in Mukterpur, Bangladesh. UltraTech has proposed selling its share holding in Emirates Cement at BDT17.09 (US$0.20)/share setting the total sales value stake in Emirates Cement at BDT2710m (US$32.1m). HeidelbergCement Bangladesh Ltd currently operates two grinding plants in the country at ... |
San Miguel's acquisition of Holcim Philippines undergoes further review09 September 2019, Published under Cement NewsThe Philippine Competition Commission (PCC) is conducting a further review of the US$2.15bn acquisition of Holcim Philippines by San Miguel Corp. As the initial 30-day review of the deal ended on 22 August, the PPC will now proceed to the 60-day Phase Two review. “Cement is a commodity with low product differentiation where brands undergo the same quality standards. While the transaction is national in scope, the initial review shows that geographic markets by region affect retailers and ... |