Cement News tagged under: corporate
Loma Negra to invest US$350m in new L'Amali line14 December 2017, Published under Cement NewsInterCement-owned Loma Negra will invest US$350m in a brownfield expansion of its L'Amali plant in Olavarría, Buenos Aires province, Argentina, the company announced in a meeting with the President of Argentina, Mauricio Macri. The investment will boost the company's domestic capacity by 40 per cent. The new production line, which will add 2.7Mta of annual capacity, will consist of a new state-of-the-art kiln, two vertical roller mills to grind raw materials and cement as well as a compl... |
Fauji Cement announce plans for greenfield project14 December 2017, Published under Cement NewsFauji Cement Company Ltd (FCCL) has announced plans to set up a greenfield project. The Pakistan-based company currently operates a 3.43Mta cement plant in Jhang Bahtar, Attock District. Fauji Cement achieved 85 per cent capacity utilisation in the first quarter of FY2017-18, an increase from 72 per cent recorded in the year-ago period. The company also reported a rise in local dispatches in the same period, to 642,166t from 556,710t of the corresponding quarter the previous year. Expor... |
Cementos Argos, Cemex and Holcim fined COP200bn13 December 2017, Published under Cement NewsColombia has fined Cementos Argos, Cemex and Holcim over COP200bn (US$66m) for fixing prices, according to Reuters. The fine has been applied to the companies and some of its managers. In total, the companies represent 96 per cent of Colombia’s cement market and allegedly agreed to set prices between January 2010 and December 2012. Cement prices in this period increased 29.9 per cent whilst inflation was just 9.3 per cent. Holcim released a statement protesting the fine applied by the ... |
LafargeHolcim Sagunto to return to full operation13 December 2017, Published under Cement NewsLafargeHolcim’s Sagunto works in Spain will return to full operation for the first time since 2007. Following a year of uncertainty about the future of the cement plant due to issues in renewing its quarry licence, the news is particularly welcome to the staff of the 2.3Mta facility. Reasons cited for the step are two-fold. The economic recovery and resurgence of construction in Valencia and Castellón will enable the company to recover domestic margins following three years of exports and... |
Fairfax drops plans to buy 23% of PPC12 December 2017, Published under Cement NewsCanada's Fairfax Africa Investments Proprietary Ltd has pulled out of its attempt to buy 23 per cent of South African cement producer PPC for ZAR2bn (US$146.34m), PPC said on Monday. "On 8 December 2017, the Independent Board received Fairfax's formal notification that it will not proceed with the partial offer and that, accordingly, the Fairfax partial offer circular will not be posted to PPC shareholders," PPC said in a statement. Fairfax offered to buy 23 per cent of PPC in September... |
Gansu Qilianshan to invest US$24m in Tibet cement JV12 December 2017, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd plans to invest CNY159.25m (US$24.08m) to set up a cement joint venture in Tibet with a registered capital of CNY450m. The new investment will be named Lhasa Cast Qilian Cement Co Ltd. |
PPC Zimbabwe files High Court application12 December 2017, Published under Cement NewsPPC Zimbabwe has filed a High Court chamber application for an interdict order to stop the Zimbabwe Revenue Authority (ZIMRA) from recovering a disputed US$3m interest and liability claim from its accounts, according to NewsDay. PPC Zimbabwe has stated in its application that ZIMRA was threatening to recover the money although the issue had yet to be resolved in court. ZIMRA’s interest and liability claim is based on the interest accrued on a tax liability claim of US$22m, which PPC Zimba... |
Tanga Cement wins awards from the NBAA12 December 2017, Published under Cement NewsTanga Cement has won an award for the ‘Best Presented Financial Statements’ from the National Board of Accountants and Auditors Board (NBAA), reports All Africa. This is the second year running that the company has received the award, which was presented at the NBAA gala dinner in Dar es Salaam. In addition, Tanga Cement won in the manufacturing category. "As a leading producer of cement, our most top priority is on quality. We put quality above the rest... and these awards can bear witness... |
Lafarge Malaysia Bhd expected to return to profitability in FY1811 December 2017, Published under Cement NewsExcess supply and price pressure due to escalating competition have negatively impacted Lafarge Malaysia Bhd’s earnings in the current financial year. The company has posted three consecutive quarterly losses, with the 3Q17 resulting in a loss of MYR42m (US$10.3m) according to The Star. In the first nine months of 2017 ended 30 September, Lafarge Malaysia reported a net loss of MYR135m, a decline from the MYR42.7m net profit of the year-ago period. Revenue also dropped 13 per cent YoY to ... |
UltraTech Cement to build new Rajasthan plant and new Satna limestone mine11 December 2017, Published under Cement NewsUltraTech Cement have announced a decision to construct a 3.5Mta integrated cement plant in Pali, Rajasthan. The cement plant represents an investment of INR18.5bn (US$287.4m) and is expected to begin commercial production by June 2020, according to The Hindu. UltraTech's new plant will supply the market in western Rajasthan and bring the company to a total of 50 plant locations across India. In addition, UltraTech Cement is planning a limestone project and crushing unit at Tehsil Ra... |