Cement News tagged under: corporate
Bulgaria’s Zlatna Panega swings to BGN2.7m net profit20 June 2019, Published under Cement NewsTitan-owned Zlatna Panega Cement reported a non-consolidated net profit of BGN2.7m (US$1.6m) in 2018, a significantly-improved result when compared with the non-consolidated net loss of BGN-6.8m the previous year. The Bulgaria-based cement producer saw its sales revenue increase 8.6 per cent to BGN90.5m from BGN83.3m in 2017 on the back of a 17.1 per cent YoY rise in cement sales from BGN63.3m to BGN74.1m. Cost of goods decreased by 3.6 per cent to BGN77.4m in 2018 from BGN80.3m in 2017 ... |
New US$400m cement plant in Jizzakh, Uzbekistan20 June 2019, Published under Cement NewsUTD Cement, a joint venture of two Germany-based companies and a private investor, will build a US$400m cement plant in Farishky district, Jizzakh, Uzbekistan. Construction of the new 4Mta works will take place in 2019-21 on a 74ha plot. The plant will provide employment for 1500 people. In terms of output, plans are for the production of 0.98Mt of M500 cement, 1.22Mt of M600 cement, 0.94Mt of M900 product and 0.86Mt of white cement. According to a resolution of the country’s Cabinet o... |
Cimburkina inaugurates second mill at Kossodo20 June 2019, Published under Cement NewsCimburkina, part of HeidelbergCement, inaugurated its second grinding unit on 18 June at its Kossodo plant in Ouagadougou, under the patronage of Prime Minister Christophe Joseph Marie Dabiré and Burkina Faso’s Head of State, Mogho Naba Baongo. The ceremony took place in the presence of the country’s Minister of Commerce, Industry and Handicrafts, harouna Kaboré. The project includes a 150tph mill, a new 2000t limestone silo and a new bagging unit with a capacity of 120tph. T he first ston... |
Vicem Hoang Mai to build 3Mta plant in Nghe An19 June 2019, Published under Cement NewsVicem Hoang Mai Cement JSC plans to build a 3Mta cement plant in Vietnam’s central province of Nghe An. Covering 60ha in the Hoang Mai 2 Industrial Zone, the project represents an investment of VND6.67trn (US$286m) and is expected to create 500 local jobs. During a meeting in May, the chairman of the provincial People's Committee, Thai Thanh Quy, granted approval in principle for the investor to develop the plant, which is part of the development strategy for the cement industry to 2030,... |
Eagle Cement faces Malabuyoc plant delay19 June 2019, Published under Cement NewsEagle Cement Corp said the opening of its cement plant in Malabuyoc in Cebu, Philippines, will be delayed following issues in receiving the required permits for its construction. Eagle Cement President and CEO, John Paul L Ang, said the opening of its fourth cement line will be postponed by more than six months from its original end-2020 commissioning date. "Despite the setback, we are still targeting to sell cement in the Visayas region by end-2020 as promised," Mr Ang added. The company... |
Tourah Cement halts production due to oversupply18 June 2019, Published under Cement NewsEgyptian cement producer Tourah Cement, owned by Heidelberg Cement, has suspended production as a result of oversupply in its domestic market. The company is considering liquidation. “Estimated cement consumption during 2019 will end at around 50Mt while total capacity of all competitors stands above 85Mt,” Tourah Managing Director, Jose Maria Magrina, said in a letter to employees last week and seen by Reuters. “This extra capacity is more than the total consumption in one year of countri... |
Dangote eyes US$700m in foreign exchange18 June 2019, Published under Cement NewsDangote Cement Plc announced plans to attract US$700m in foreign exchange from cement exports to boost Nigeria’s economy, according to AllAfrica. While addresssing shareholders at the AGM in Lagos, he company’s Chairman, Aliko Dangote, said: We have a lot of on-going projects aimed at increasing capacity, and by next year, we will not only export one million tonnes as we normally do now, we will be servicing both the domestic and other African countries from Nigeria. "We will have a cap... |
UltraTech Cement appoints Sujeet Jain as chief legal officer18 June 2019, Published under Cement NewsSujeet Jain, group general counsel and company secretary of Viacom18, has joined UltraTech Cement as chief legal officer in Mumbai. A graduate of GLC Mumbai, he began his career at Thakkar and Thakkar Advocates before moving to Hutchison Telecom. In 2005 he joined People Group and three years later, Viacom 2008. |
Cembureau elects new president and vice-president17 June 2019, Published under Cement NewsThe European cement association, Cembureau, has appointed its new president and vice-president at its general assembly in Helsinki, Finland, on 14 June 2019. Raoul de Parisot, advisor to the chairman and CEO of Vicat, will take over as president from Gonçalo Salazar Leite, vice-president of SECIL. Isidoro Miranda Fernandez, CEO of LafargeHolcim Spain, is Cembureau’s new vice-president. Speaking following his election as president, Raoul de Parisot said he was delighted to be taking up the... |
Grupo Argos interested in Summit Materials merger14 June 2019, Published under Cement NewsGrupo Argos has approached US aggregates and cement producer Summit Materials Inc about a merger, according to people familiar with the matter. The deal would expand Grupo Argos’ footprint, but it remains uncertain whether Summit Materials would be prepared to negotiate a deal with Argos, said Reuters. The news saw shares of Summit increase by 14 per cent to US$15.51, resulting in a US$1.8bn market capitalisation for the US company. However, as at the end of March, it had accumulated US$... |