Cement News tagged under: corporate
CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger16 January 2018, Published under Cement NewsCRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation. In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not been notified and authorised according to current rules, which prohibits mergers without notification a... |
Paraguay: INC Vallemi sales up 19% in 201716 January 2018, Published under Cement NewsParaguayan cement producer Industria Nacional del Cemento (INC) sold 20.06m bags of cement in Vallemi in 2017, representing an 18.5 per cent rise YoY. The increase continues the positive trend experienced in the last few years by the cement company. Sales increased to 1.36m in 2015 from 890,363 bags in 2014. |
Dalmia Bharat begins using national waterways for exports16 January 2018, Published under Cement NewsDalmia Bharat Cement exported its first cement shipment of 200Mt from Pandu port to Dhubri on Friday, reports The Telegraph. The occasion marked Dalmia’s fifth brand anniversary in the northeast region of India, with the shipment being released by Mahendra Singhi, Group CEO, Dalmia Cement. The company is using national waterways, such as the Brahmaputra, to transport cement in the hope that it will reduce the cost of logistics. |
JSW Cement to bid on Binani Cement15 January 2018, Published under Cement NewsJSW Cement Ltd will partner with a global equity firm to bid for Binani Cement, according to The Hindu BusinessLine. It is expected that as many as 11 industry players, including Ultratech and Dalmia, will submit a bid for the company which is currently undergoing the bankruptcy process. "There are a lot of bidders and this is going to get aggressive because nobody wants to leave these assets; we would not want to leave these assets," said Sajjan Jindal, managing director, JSW Group. ... |
Raysut reports 67% profit after tax fall15 January 2018, Published under Cement NewsRaysut Cement Co of Oman has reported a 22.4 per cent drop in initial unaudited consolidated revenues in 2017 to OMR71.895m from OMR92.588 in 2016. The company’s operational profit fell by 65 per cent to OMR7.862m from OMR22.408m in the previous year. Profit before tax also saw a significant decrease at 60 per cent to OMR9.167m from OMR22.896m. Profit after tax decline by 66.6 per cent to OMR6.916m from OMR20.71m. |
Vallemi cement distributors concerned about shortages15 January 2018, Published under Cement NewsThe association of cement distributors in Vallemi, Paraguay, has expressed its concern over the limited output at Industria Nacional del Cemento (INC)’s plant in Vallemi. Despite an US$67m the plant is reported to be unable to guarantee clinker production and Portland cement deliveries. Operation of the kiln has been intermittent and the company is waiting for foreign specialists to carry out the repairs. INC has said that parts are expected on 12 January with ABB employees to start work ... |
Pacific Cement Ltd completes upgrades to mill15 January 2018, Published under Cement NewsFiji's longest-running cement manufacturer, Pacific Cement Ltd, has completed major upgrades to its cement mill, according the Fiji Sun. The renovation of the mill means that it can now produce 25tph, an increase compared to the 20-22tph rate seen previously. Sowani Tuidrola, chief executive officer, Pacific Cement Limited, has said that he is confident that the company will be able to meet all local demand. The demand for cement in Fiji has started to increase after the conclusion of the ... |
Arabian Cement plans expansion into Africa and Asia15 January 2018, Published under Cement NewsArabian Cement is planning to expand into regional markets in Africa and Asia to boost its profitability amid strong competition in the Egyptian market, according to reports in the Daily News Egypt. To date the company, which has a output of around 5Mta, has exported to Libya, Kenya, Madagascar, Somalia and Yemen. Arabian Cement is a joint venture between Spain-based Grupo Cementos La Unión and a group of Egyptian investors. The company recently reached an agreement with the Natio... |
ASEC, Taiheiyo Engineering and Promac to team up15 January 2018, Published under Cement NewsArab Swiss Engineering Co (ASEC), Egypt, joins forces with Taiheiyo Engineering Corporation (TEC), Japan, and its joint venture partner Promac, India, to roll out end-to-end solutions for the optimisation of cement manufacturing process and energy conservation. The three cement industry suppliers hosted a signing ceremony of a memorandum of understanding on 19 November 2017 to set the framework for their collaboration. The aim is to join forces to provide cement manufacturers in Egypt and... |
Shree Cement to acquire 93% stake in Union Cement12 January 2018, Published under Cement NewsShree Cement Ltd announced on Thursday that it had agreed to acquire a 92.83 per cent stake in Union Cement Co PSC, for an enterprise value of US$305.24m, according to the Hindustan Times. The deal will increase Shree Cement’s capacity to 33.3Mta from 29.3Mta, and is expected to be concluded within nine months. Shree Cement has the option to take full control of the company’s shares, said Subhash Jajoo, CFO, Shree Cement. Union Cement is based in the UAE and has a total capacity of 4... |