Cement News tagged under: corporate
Paraguay’s INC announces record sales in November05 December 2017, Published under Cement NewsIndustria Nacional del Cemento (INC) announced record sales of 1.2m bags in November 2017. Jorge Méndez, president of the Paraguayan cement producer, said the company sold 1,249,065 bags of Cemento Vallemi, a sign that the market is returning to growth. He added that the company successfully switched from fuel oil to petcoke to fire its kiln, which has enabled the company to generate significant cost savings. While the fuel oil has an average cost of US$750/t, petcoke is considerably ... |
JK Cement plans expansion spree05 December 2017, Published under Cement NewsJK Cement is planning to almost double its grey cement capacity to 18Mta in four years with brownfield and greenfield expansions. The company is embarking on a brownfield expansion of 3.5Mta at its Mangrol facility in Rajasthan. This involves capital expenditure of about INR15,000m (US$232.8m). Work at Mangrol is expected to start by end FY17-18 and commissioning is expected by end of 2019, Rajnish Kapur, head of grey cement business, told Economic Times. Separately, JK is also workin... |
Elementia restructures debt with new seven-year loan05 December 2017, Published under Cement NewsElementia, SAB de CV has announced that it obtained a loan from Citi Banamex for MXN925m (US$49.6m) over a seven-year term, with payments beginning in the first half of 2020, given its two-year grace period. The financial restructuring is part of its strategy to strengthen its balance sheet and maintain its profitable growth. The loan successfully concludes the company's commitment, as announced in 2016, of exchanging short-term for long-term debt during 2017. The proceeds will be used to... |
Taiwan Cement Corp increase shipment prices04 December 2017, Published under Cement NewsTaiwan Cement Corp are to raise product prices for shipments to Guangdong and Guangxi provinces by CNY20 (US$3)/t to CNY360, as reported by Taipei Times. The increase in price will be effective from Saturday. The price change is demonstrative of the strong demand in Southern China and subsequent shortage of cement. Beijing’s stricter environmental regulations have also led to some cement producers halting production, negatively impacting the quantity of cement available. Taiwan Cement coul... |
Cementos Bío Bío seeks improvement with innovation index04 December 2017, Published under Cement NewsCementos Bio Bío (CBB) of Chile has begin a collaborative project with Innspiral, the first accelerator of corporate innovation in Chile and Latin America. The aim is to engender innovation on a corporate level using an innovation intensity index. The cement company will formalise the measurement of its innovation performance, using an Innovation Intensity Index (i3), created by Innspiral. As a result, CBB will become the first of its industry in Latin America to measure the contribution... |
Dangote Cement to begin selling products on Jumia04 December 2017, Published under Cement NewsDangote Cement will begin selling its products on the e-commerce platform, Jumia. This is an attempt establish a secure platform for customers to purchase products, thereby avoiding fake vendors who claim to be selling Dangote products at a cheaper price, according to The Nation. "A bag of cement on the platform is only NGN2500 and it includes the cost of freighting and offloading to the warehouse of the customers. Convenience and reliability are assured. This will hopefully address onli... |
Fujian Cement to buy limestone mining rights04 December 2017, Published under Cement NewsChina-based Fujian Cement plans to buy mining rights of a 0.2Mta limestone mine and a 0.03Mta cement siliceous material ore mine from Shunchang Lugunshan Limestone Mine and Shunchang Wuli Ting, respectively. The transaction amount is CNY52.9m (US$8m) with an actual payment of CNY32.8m, according to Reuters. The limestone mine is understood to cover an area of 0.3605km2 with rights valid until 2032. The deposit holds 3.645Mt of reserves. The other mine, with reserves of 0.692Mt covers an ar... |
Lafarge Africa to cut debt by US$270m01 December 2017, Published under Cement NewsLafarge Africa will use some of the funds raised by a NGN131.6bn (US$415m) rights issue to cut debt by US$270m, as reported by Reuters. The company inherited US$507m in shareholder loans and US$88m of third-party foreign currency debt when it acquired UNICEM in 2015. This debt would expose Lafarge Africa to a foreign currency loss due to the sharp fall in value of the naira. However, the rights issue is expected to help reduce the debt by almost half. Lafarge Africa announced a pretax ... |
PPC plans Western Cape mega plant30 November 2017, Published under Cement NewsPPC is planning to build a new large-capacity plant in the Western Cape, South Africa. The company is expected to make a formal announcement about the new works next year, according to Business Report. Johan Claassen, interim CEO of PPC, said the company had decided to carry out a feasibility study on a larger-than-previously planned facility at its Riebeeck works. The environmental impact assessment (EIA) of the previous project had been approved, but the revised scope of the new pla... |
Cemento Melon sees 57% 3Q profit drop30 November 2017, Published under Cement NewsCemento Melon, Chile, reported a 56.8 per cent drop YoY in profits to CLP5bn in 3Q17. Sales have fallen 13.6 per cent to CLP136.5bn when compared with the year-ago period, when revenues reached CLP108.669m. The cement producer has attributed the decrease to a contraction in the construction market. The company, which is owned by the Peru-based Brescia Group, said the fall in sales has been partially offset by a greater focus on margins and the introduction of operational efficiency pl... |