Cement News tagged under: corporate
Dangote pull out of potential PPC acqusition deal09 October 2017, Published under Cement NewsDangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital. Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained... |
Arabian Cement in merger talks with Al Safwa Cement09 October 2017, Published under Cement NewsArabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation for Social Insurance (GOSI). Arabian Cement has been attracted by the locational advantage of the plants of both companies and source of raw materials, besides the cost savings in selling, general and administrative expenses and relatively lean inventories, according to Al-Rajhi Capital Research. In addition, both... |
Duqm to receive new cement plant in 202009 October 2017, Published under Cement NewsThe SEZ Authority in Duqm (Sezad) and Al Wusta Cement Company, a partnership of Oman Cement Company and Raysut Cement Company, have signed a land use deal to build Oman’s third cement plant at the Duqm Special Economic Zone (SEZ), reports Trade Arabia. Under the terms of the agreement, the Al Wusta Cement Company will acquire a 500,000m 2 plot within the heavy industrial zone on lease for 50 years, renewable for a further period, reported Oman Observer. Al Wusta Cement said that the co... |
Ash Grove Cement receives US$3.8bn takeover proposal06 October 2017, Published under Cement NewsCRH noted that an announcement by Ash Grove yesterday that the period for obtaining shareholder approval has been extended for its proposed acqusition. US cement maker Ash Grove Cement Co said on Thursday it received a larger takeover proposal valued at up to US$3.8bn, surpassing an earlier offer from Irish building materials firm CRH Plc. CRH said last month it agreed to buy Ash Grove for a total consideration of US$3.5bn. Ash Grove said the new bid valued at US$3.7-US$3.8bn was expected t... |
Xuan Thanh cement plant opens 12,500tpd line06 October 2017, Published under Cement NewsThaiGroup JSC, formerly known as Xuan Thanh Group JSC, has inaugurated the second production line of the Xuan Thanh cement plant in the northern province of Ha Nam, Vietnam. The production line has a total investment of VND10.8trn (US$475.25m) and a clinker capacity of 12,500tpd, the Dau Tu newspaper reported. After inaugurating the second production line, the company plans to invest in a third one with a cement capacity of 4.5Mta, raising the plant’s output to 10Mta. In early 2016... |
Pioneer Cement to acquire Galadari Cement06 October 2017, Published under Cement NewsPioneer Cement Company Ltd (PIOC) in a stock filing informed that it has signed a Memorandum of Understanding with sponsors of Galadari Cement (GULF) Ltd (GCGL) to acquire 100 per cent stake of the company. GCGL was incorporated in 1980 with acquisition of land at District Hub, in Baluchistan province of Pakistan, while formal construction of plant had begun during 1998. The plant's main equipment was procured from European manufacturers. However, due to legal and inheritance issues the ... |
Bamburi Cement appoints new interim CEO06 October 2017, Published under Cement NewsBamburi Cement of Kenya has appointed chief financial officer Eric Kironde as its interim CEO following the departure of Bruno Pescheux. Pescheux stepped down from the role at the end of last month after a three-year stint in charge of Bamburi, opting to retire according to Chairman John Simba. "We would like to recognise the contribution of Bruno Pescheux and thank him for his leadership. We wish him a long and happy retirement," he said. The company will now look to Eric Kironde to ma... |
Cement Australia to pay an extra US$16.1m over fly ash competition case05 October 2017, Published under Cement NewsThe Australian Competition and Consumer Commission (ACCC) has failed to win a substantial increase in the penalty awarded against Cement Australia for breaching the competition rules over the purchase of fly ash in Queensland. However, the competition regulator did win a technical argument over who is liable for payment of the fine in the case of jointly-owned companies. Cement Australia is owned by global giants Hanson and Holcim and the case centred on contracts to buy fly-ash from th... |
Ohorongo Cement awards staff land for houses05 October 2017, Published under Cement NewsOhorongo Cement staff received deeds of sale for land allocated to them by the Otavi Town Council in Namibia, on Tuesday. The cement producer made N$9m (US$661,619) available which is going towards the purchasing of land, as well as cement contributions for the construction of employee houses. " This is certainly the biggest highlight in the history of our company. Today, we created the first of many real and lasting legacies for the welfare of our colleagues. What we did today will hopefu... |
Lehigh Inland Cement plant in Winnipeg catches fire05 October 2017, Published under Cement NewsWinnipeg fire crews have been battling flames at the Lehigh Inland Cement plant on Kenaston. A ladder was extended towards the top of the structure just before noon Sunday, reports MyToba. Winnipeg police have blocked off the road leading to the factory. There is no word on how big the fire is, what sparked it, or how much damage has been caused. |