Cement News tagged under: corporate
Medcem Cameroon increases share capital to XAF17.5bn25 July 2019, Published under Cement NewsMedcem Cameroon (Eren Holdings) has increased its capital from XAF400m to XAF17.5bn (US$679,000 to US$29.7m).The increase has created 1.759m new shares with a nominal value of XAF10,000. The Turkish company is the smallest cement producer in Cameroon with a cement capacity of 0.2Mta. It is competing against CIMAF (0.5Mta), Dangote Cement (1.5Mta) and Cimencam (2Mta). Based on production capacity projected by operators, Minister of Economy, Louis-Paul Motaze, ranked Dangote Cement as mark... |
Giampiero Pesenti passes away25 July 2019, Published under Cement NewsGiampiero Pesenti, honorary chairman of Italmobiliare, passed away aged 88 on 22 July at his home in San Vigilio, Italy. He joined the Board of Directors in 1967, becoming chairman and CEO on the death of his father, Carlo Pesenti, in 1984. From 2014-17 he served as president and later as Honorary President. In 1992 he expanded Italcementi, Italy’s largest cement producer, by acquiring Ciments Français, a company twice the size of the group. Italcementi was later acquired by HeidelbergCe... |
Dangote Cement launches Nigerian promotion to boost cement sales25 July 2019, Published under Cement NewsDangote Cement Plc has launched its 'Bag of Goodies Promo' in Nigeria to increase cement sales. The cement producer is offering scratch cards with every cement bag to give away prizes to its customers and the company is already reporting an upsurge in demand. The first big prize winner emerged in Ibadan, Oyo state, this week and was rewarded with a saloon car for his cement purchase. Dangote Cement seeks greater market share from its rivals and is looking to build brand loyalty from the exe... |
Tabuk Cement records 48% sales surge in 2Q1924 July 2019, Published under Cement NewsSaudi Arabia’s Tabuk Cement has reported a SAR9m (US$2.4m) net profit for the second quarter of 2019, against a loss of SAR36.1m in the 2Q18. The company’s sales saw a 48.2 per cent YoY surge to SAR61.2m from SAR41.3m. The average selling price across the quarter also improved. |
TCK announces 42% fall in net profit24 July 2019, Published under Cement NewsBosnia's Tvornica Cementa Kakanj (TCK) has announced that its net profit fell 42 per cent YoY to BAM5.3m (US$3m) for the 1H19, compared with BAM9.1m in the year-ago period. Operating revenue decreased 9.7 per cent to BAM32.2m in the first six months of the year, while operating costs rose 0.8 per cent to BAM26.8m. |
UAE cement producers sign cooperation agreement24 July 2019, Published under Cement NewsAl Ain Cement Factory (Arkan Cement Group) and National Cement Factory, owned by Lttihad International Investments, will collaborate on as 'partners of choice' under a new agreement signed by both. The agreement will see opportunities for better clinker supply, and reduced production and logistical costs. Abdulaziz Asad, Arkan Cement's chief operating officer, said the "new agreement is a cooperation of the two largest cement and steel slag producers in Abu Dhabi." "With this collabora... |
Titan Cement International makes debut on Brussels, Paris and Athens stock markets24 July 2019, Published under Cement NewsTitan Cement International SA, the new parent company of Titan Group, made its official debut in the stock markets of Euronext Brussels, Athens Stock Exchange and Euronext Paris on Tuesday. A total of 78,668,627 common nominal shares began trading in the Euronext markets under the tick name (TITC) at 09.00 Brussels time, while trading in the Athens Stock Exchange began at 10.30h local time. "The listing in the Euronext markets is a significant landmark in the group's 117-year history ... |
Shui On Cement to be compensated for plant closure23 July 2019, Published under Cement NewsHong Kong-based Socam Development said the Kaili government in Guizhou, China, is expected to compensate its subsidiary Shui On Cement with CNY171m (US$24.85m). The funds are to reimburse the costs and expenses related to the closure of its plant, which resulted from the central government's policy of phasing out of backward and energy-inefficient capacity, according to The Standard. The cement plant site will be redesignated for commercial and residential purposes. The Kaili government p... |
Sigus Cement to start national distribution23 July 2019, Published under Cement NewsSigus Cement’s plant in d’OUm El Bouaghi, Algeria, has launched its grey cement onto the national market, according to its Managing Director, Fawzi Bachiri. The cement company started production at the 2.2Mta works in the first quarter of 2019, following a DZD51bn (US$426.8m) investment and 31 months to project completion. The new supply of cement will accelerate the completion of construction projects as well as provide jobs for 450 permanent and 2000 temporary workers. |
MLMC rebrands to NuCycle Energy23 July 2019, Published under Cement NewsUS-based Materials Lifecycle Management Co (MLMC) is now NuCycle Energy. The company’s rebranding is reflecting its mission to be the “indispensable supply chain link between end-of-use materials generated by commercial and industrial businesses and the responsible avoidance of fossil fuel use by energy intensive industries,” according to Todd Wenner, president and CEO of NuCycle. “NuCycle is the path to zero disposal and the reduction of fossil fuel usage with a proven record for buildi... |