Cement News tagged under: corporate
Kalambaina Cement to merge with CCNN30 November 2018, Published under Cement NewsBUA Group’s Kalambaina Cement Co has announced it received shareholder approval for a merger with the Cement Company of Northern Nigeria (CCNN). Abdul Samad Rabiu, chairman of the company, has stated that the deal would involve a high technical and complex infusion of the two companies. "This deal signposts shareholder confidence in the value proposition of the CCNN-Kalambaina merger and we are certain that the new entity can compete effectively in the cement industry in Nigeria whilst main... |
Fauji Cement of Pakistan to build new cement plant30 November 2018, Published under Cement NewsAt the 10th Extraordinary General Meeting of Fauji Cement Co (FCCL)'s Board of Directors, held on 29 November, the company secretary was authorised and empowered for the execution of a new cement plant in Pakistan. FCCL also elected executive, non-executive and independent directors for a term of three years commencing from 13 December 2018 to 12 December 2021. First-quarter FY18-19 results During first quarter of FY18-19, FCCL earned a net profit of PKR801m (US$5.97m) as compared to... |
LafargeHolcim's Capital Markets Day 201829 November 2018, Published under Cement NewsLafargeHolcim presented a full overview of its 'Strategy 2022 – Building for Growth' programme at its Capital Markets Day held at the Belfry Hotel and Resort, Birmingham, UK, yesterday. Jan Jenisch, LafargeHolcim CEO, said, "Our performance in 2018 shows that execution of 'Strategy 2022 – Building for Growth' is at full speed. We have simplified the organisation and are ahead of target with our SG&A savings programme. With the recent divestment of our Indonesia operations we reached a major... |
NCN’s Malbaza plant to start production in December29 November 2018, Published under Cement NewsAfter addressing some challenges, Nouvelle Cimenterie de Niger is expected to start operations at its Malbaza cement plant in Niger’s Tahoua region in December, according to the company’s officials. The 2000tpd integrated cement works is forecast to cover 80 per cent of Niger’s cement demand, allowing the country to significantly reduce cement imports. The facility provides employment for 347 people, including 276 Nigeriens. |
Cemex begins share repurchase programme29 November 2018, Published under Cement NewsCemex has begun its share repurchase programme, approved at its ordinary shareholders’ meeting for up to US$500m. "We are pleased to initiate our share buyback programme, which is one of the capital allocation options we have to create value for our shareholders," said Fernando A González, CEO. The company repurchased 7m CPOs on 27 November. The total amount of the repurchase, including commissions and VAT, was MXN65.9m (US$3.2m). |
Former vice president of Cemex Colombia to appear before authorities in US29 November 2018, Published under Cement NewsThe former vice president of planning for Cemex Colombia, Édgar Ramírez, is due to appear before the FBI and a senior official of the Colombian Prosecutor's office in the USA, in relation to alleged acts of corruption by some members of the company’s leadership, according to El Tiempo. Cemex Colombia had previously released a statement noting that it had "voluntarily published the delinking of some of its executives, including Édgar Ramírez, the company's former vice president of planning,... |
Cementarnica Usje reports 10% fall in net profit28 November 2018, Published under Cement NewsMacedonia’s Cementarnica Usje has reported a 10 per cent YoY fall in its consolidated net profit to MKD777.7m (US$14.3m) for the 9M18, while operating revenue dropped three per cent to MKD3.35bn. The decline in operating revenue has been attributed to lower revenue from foreign markets in the first nine months of the year, which decreased six per cent to MKD1.1bn. Domestic sales revenue remained flat at MKD2.15bn. |
Nesher dismisses one-third of Haifa workforce28 November 2018, Published under Cement NewsNesher Israel Cement Enterprises laid of 20 workers at its Haifa cement plant – around a third of the site’s workforce, due to a decline in output. Israel’s largest cement producers is reportedly undergoing further downsizing with further steps expected at its Ramla works. The dismissals come in the wake of the entry of cheap cement from Turkey and Greece, which has seen Hartuv Cement come under considerable pressure. "From a market share of 75 per cent we have fallen to 65 per cent. I... |
DG Khan Cement of Pakistan plans WHR plants in Punjab28 November 2018, Published under Cement NewsA new waste heat recovery (WHR) plant is being planned by DG Khan Cement to reduce water consumption at its 2.11Mta Chakwal plant in Punjab, according to a report of Intermarket Securities Ltd. T he new plant would include improved technology that requires only marginal water consumption. This would avoid the technical and financial challenges of sourcing water, said the company's management. The step follows a PKR100m (US$0.74m) fine imposed by the Supreme Court of Pakistan on ... |
Ramco Cements to spend INR8.5bn on plant expansion27 November 2018, Published under Cement NewsIndia’s Ramco Cements is investing INR8.5bn (US$120m) to increase capacity at its facility in Jayanthipuram, Andhra Pradesh, by 1.5Mta and construct a 27MW WHR system. The project is part of an overall expansion plan for the company. "Currently, we have cement grinding capacity of 16.5Mta, which we plan to take to 20Mta by March 2020," said A V Dharmakrishnan, CEO of Ramco Cements. The plan would see its Kolaghat, Visakhapatnam and Odisha grinding units each expanded by nearly 1Mta, accord... |