Cement News tagged under: corporate
Taiheiyo to increase Philippine capacity25 June 2018, Published under Cement NewsTaiheiyo has allocated PHP3.5bn for a new cement line in San Fernando, Cebu. At present the works produces 7350tpd and the project aims to raise output potential to 16,350tpd by the end of next year. Romeo Gebilaguin, Taiheiyo's environment and safety manager, said that as demand for cement grows, the plant has to double its production capacity. "We will be needing additional manpower by then, hire more workers. This will give job opportunities to Cebu with six per cent of them coming fro... |
Republic Cement contracts Aboitiz Construction for Bulacan and Cebu25 June 2018, Published under Cement NewsCRH subsidiary, Republic Cement and Building Materials, has called in local affiliate Aboitiz Construction to help realise its projects in Bulacan and Cebu, Philippines. Under the contract, Aboitiz Construction will have to complete within 11 months the structural and mechanical works in the Bulacan and Cebu sites. The cement producer is also looking into improving cement and clinker capacity for its plants in Teresa and Batangan as well as cement production in Iligan. "Our investme... |
Eagle Cement sees PHP350m in savings22 June 2018, Published under Cement NewsEagle Cement Corp expects to generate some PHP530m in savings from the three-year income tax holiday granted by the government for the company’s recently-completed third production line in Bulacan. The savings will be generated over a three-year period between 2018-20. "That doesn't count yet other incentives that we get in terms of tax savings from the importation of certain equipment, bringing in the required equipment machineries from abroad. So we also get some kind of savings on cost... |
Shivam Cement first cement producer to IPO in Nepal22 June 2018, Published under Cement NewsShivam Cement Ltd is set to issue 5,280,000 units in an initial public offering (IPO) at premium prices after the company received approval from the Securities Board of Nepal (Sebon). It is the first cement producer that is issuing primary shares for the general public. Shivam Cement will issue 880,000 units, or two per cent of the company’s share capital, at the rate of NPR300 (US$2.75)/unit. The company will also be allowed to issue 4,400,000 units of primary share, or 10 per cent of is... |
Power Cement completes Nooriabad expansion finance21 June 2018, Published under Cement NewsOne of the Pakistan’s leading cement producers, Power Cement Ltd has completed financing arrangements of PKR24.9bn (US$205m) for the 2.5Mta expansion of its cement plant Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh. On completion of this expansion, Power Cement will be the second-largest producer in the Southern Region by May 2019, with the total capacity of 3.4Mta, saidTahir Iqbal, the company's CFO. The breakdown of financing includes equity of PKR1.3bn by foreign in... |
CRH announces completion of Ash Grove acquisition21 June 2018, Published under Cement NewsCHR has now completed the acquisition of Ash Grove Cement Co. The Irish building materials producer announced on 21 September 2017 it reached an agreement to acquire the Kansas-based cement company for US$3.5bn. The US Federal Trade Commission issued its consent order for the deal on 15 June 2018. |
CNBM adds 18.7% stake in Southwest Cement21 June 2018, Published under Cement NewsChina National Building Material (CNBM) said it agreed to purchase a 18.7 per cent equity interest in Southwest Cement Co from Zhonghai Trust Co Ltd for CNY1918m (US$295.1m). The acquisition would increase CNBM’s stake from 70 per cent to 88.7 per cent. It would strengthen CNBM’s bottom line, quality asset management and improve return on investment as the southwestern China market continues to improve as a result of supply-side structural reforms. |
Bosnia’s Banovici plans 1.1Mta cement plant21 June 2018, Published under Cement NewsBosnian state-controlled brown coal mine Banovici and the Federation’s privatisation agency will shortly seek a strategic partner for the construction of a cement plant at the coal mine. The project represents an investment of EUR250m (US$290m). Banovici has already obtained the required documents and secured an environmental permit with works expected to start in 2019, according to local news service Ekapija. The cement plant is estimated to have an output of 1.1Mta with product to b... |
State Council confirms penalties issued by SIC to Cemex Colombia20 June 2018, Published under Cement NewsColombia’s State Council has confirmed the COP923m (US$315,784) and COP138m penalties issued by the Superintendence of Industry and Commerce (SIC) to Cemex Colombia SA, according to El Universal. "The ruling reveals the emergence of indications about the existence of market share agreements and the allocation of production quotas between the companies Cemex Colombia SA, Holcim Colombia SA and Argos, which affected the behaviour of prices, the effect of supply and the handling of grey cemen... |
Udayapur Cement suffers irregular supply of power20 June 2018, Published under Cement NewsNepal’s Udayapur Cement Industries Ltd (UCIL) is facing financial losses due to the irregular supply of electricity to its facility. Power supply was halted 27 times in the internal supply line and 93 times in the external line during the mid-May-mid-June period, according to Republica. "An hour of power cut in the factory causes losses of over NPR400,000," said Surendra Paudel, general manager. "When there is a sudden cut in power supply, it hampers the engine on one hand, and on the ot... |