Cement News tagged under: corporate
Sagar Cements announces new investments in plant projects06 December 2018, Published under Cement NewsSagar Cements has approved significant investment in both Satguru Cements and Jajpur Cements, which will enable the company to expand its presence in central and eastern India. "The board has approved a proposal to invest a sum of INR1.5bn (US$21.1m) in Satguru Cement Pvt Ltd (SCPL), Indore, to set-up a greenfield cement manufacturing plant of 1Mta capacity along with a waste heat recovery power plant, at a total cost of INR4.26bn. SCL will be holding 65 per cent in the equity share capit... |
Mbeya Cement opens Building Materials Academy06 December 2018, Published under Cement NewsMbeya Cement (LafargeHolcim group) has opened its Building Materials Academy in Dar es Salaam, Tanzania to improve the client understanding of the use of the company's products in the construction sector. Isle Boshof, Mbeya Cement's Chief Executive said: "The state-of-ther-art centre is a good avenue for stakeholders to learn about their wide-range of products." The centre will bring together key players in the construction industry to understand all types of cement produced by Mbeya Cem... |
Long Son plant to enter second phase of expansion06 December 2018, Published under Cement NewsThe Vietnamese Prime Minister has issued guidelines on investment for the expansion of Long Son cement plant, Thanh Hoa, and has agreed to action the second phase with two additional production lines. Each line will add 2.3Mta of cement capacity and is expected to supply the construction of coastal and inland projects, in accordance with the country’s cement development plan for 2011-20. Line 3 is expected to enter operation in 2020, with Line 4 following in 2021. Vietnam’s Ministry of Co... |
GBL's Albert Frère dies at 9206 December 2018, Published under Cement NewsBelgian investor Albert Frère has died at the age of 92, according to his investment company Groupe Bruxelles Lambert (GBL). Mr Frère, who had a private fortune estimated at around EUR6bn, supported major mergers and acquisitions such as the merger of Lafarge and Holcim into LafargeHolcim in 2015. "For more than three decades, GBL has developed under his leadership into one of the largest holdings in Europe," says the GBL. "His professional and human qualities have had a strong impact on o... |
LafargeHolcim Bangladesh amalgamates subsidiary06 December 2018, Published under Cement NewsLafargeHolcim Bangladesh Ltd (LHBL) informed Dhaka Stock Exchange on 2 December that the Board of Directors has decided to amalgamate of the company with its subsidiary Holcim Cement (Bangladesh) Ltd (HCBL). The amalgamation is subject to requisite approval of the banks and other creditors to the company, approval of the shareholders and finally, sanction of the Honourable High Court Division of the Supreme Court of Bangladesh. LHBL has acquired 100 per cent shares of HCBL for a conside... |
ACC to restructure existing debt05 December 2018, Published under Cement NewsEgypt’s Arabian Cement Co plans to restructure its existing US$23m and EGP499.3m outstanding debts due to one of the country’s banks, through a syndicated loan from the European Bank for Reconstruction and Development (EBRD) and the Commercial International Bank of Egypt (CIB). The package will support the company’s long-term strategy to improve the energy efficiency and cost-effectiveness of its operations, according to a press release. As the new debt level is more comfortable, it is exp... |
India Cements to acquire Springway Mining05 December 2018, Published under Cement NewsIndia Cements has entered into a share purchase agreement to acquire the entire shareholding of Springway Mining in a phased manner. On 3 December 2018 the company purchased the controlling stake of 51 per cent in the paid-up equity share capital of Springway Mining. The acquisition will support India Cements’ plans to set up a cement plant in Madhya Pradesh. |
Hail Cement appoint new chairman and deputy chairman05 December 2018, Published under Cement NewsHail Cement Co's board of directors approved on 3 December the appointment of Ali Othman Al Zaid as the company's new chairman. Meanwhile, the Saudi Arabian cement producer has also appointed Qasem Saleh as the deputy chairman, the cement producer said in a bourse statement. |
Raysut Cement to acquire stakes in Indian cement producers in 1Q1904 December 2018, Published under Cement NewsRaysut Cement of Oman plans to invest US$700m in the Indian cement market by 2022. The cement producer intends for approximately US$200m of this total to be invested in acquiring majority stakes in two Indian cement producers in 1Q19. The investment is part of the cement producer's plans to expand its overall production capacity to 20Mta, while the Muscat Securities Market-listed firm is also scouting for acquisitions in Africa, according to the Hindu Business Line. "We are in discussion... |
Unacem shareholders to discuss merger with Inversiones Andino04 December 2018, Published under Cement NewsPeru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto. The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed and managed by the three societies that would be absorbed. It also seeks to extinguish the contract... |