Cement News tagged under: corporate
Ash Grove Cement Board to come under investigation04 October 2017, Published under Cement NewsWeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ash Grove Cement Co in connection with the proposed acquisition of the Company by CRH, Plc. On 20 September 2017, the Ash Grove Cement announced the signing of a definitive agreement under which terms CRH will acquire all outstanding shares of Ash Grove Cement in a transaction valued at approximately US$3.5bn. However, WeissLaw is investigating whether Ash Grove Cem... |
PT Siam Cement Group will seek growth in packaging sector04 October 2017, Published under Cement NewsThai owned PT Siam Cement Group (SCG) Indonesia plans to acquire more packaging companies in Indonesia to achieve higher growth amid tighter competition in the cement industry. PT SCG Indonesia business support director Vikorn Phongsatorn said his company would target local companies. "We will target some particular companies but it is hard to say how many because merger and acquisition opportunities come and go," Vikorn said in Jakarta. PT SCG Indonesia has three main businesses, cement ... |
Dalmia Cement to support FIFA U-17 World Cup India04 October 2017, Published under Cement NewsDalmia Cement Bharat Ltd has signed up as a National Supporter of the FIFA U-17 World Cup India 2017, which kicks off on 6 October 2017. Chairman of the Local Organising Committee and President of the All India Football Federation Praful Patel said: "Dalmia has shown its commitment to the future of Indian youth with its partnership with the FIFA U-17 World Cup. We welcome them and salute their commitment." Dalmia Cement Bharat Ltd CEO Mahendra Singhi said: "Dalmia is extremely delighted to... |
Dangote Cement's Bouasnsa plant is almost complete03 October 2017, Published under Cement NewsThe US$300m Dangote cement grinding plant situated at Bouansa, Congo will start-up this month, Dangote Cement Plc has announced. Dangote cement's CEO, Onne van der Weijde, said: "The Congo Cement plant is now 99 per cent complete and set to commence operations." Dangote cement plant at Bouansa, Congo, expected to contribute at least 1.5Mta capacity, is a positive step steering the company towards the total yearly manufacturing capacity of about 32Mta across Africa. Dangote Cement Congo ... |
Prudential Investment Managers advise against AfriSam merger with PPC03 October 2017, Published under Cement NewsPrudential Investment Managers, one of the top three shareholders in PPC, says it opposes a proposed merger between South Africa's largest cement group and its unlisted South African rival AfriSam. Prudential, which holds 13-14 per cent of PPC, said it wanted "other shareholders to think twice" about such a transaction. It said AfriSam’s recent revised offer, which had the backing of Canada’s Fairfax Africa Investments, undervalued the group. It believed PPC’s share price would double in th... |
CRH said to be closing in on Suwanee America acquisition03 October 2017, Published under Cement NewsCRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the valuation could change. The planned acquisition follows a string of deals for CRH, which last month a... |
Cementos Avellaneda will raise capacity at its La Calera plant by 201903 October 2017, Published under Cement NewsCementos Avellaneda will increase its production capacity at its La Calera (San Luis) cement plant by 0.7Mta from 0.3Mta to 1Mta with an investment of US$200m by 2019. In addition, the company is currently invest some US$30m at its Olavarría (Buenos Aires) plant where it has been increasing the cement production capacity by 0.3Mta with start-up expected before the end of 2017. Cementos Avellaneda also plans to make other investments aimed at improving productive infrastructure, its logisti... |
Qalaa Holdings announces 2Q17 net loss of US$158m02 October 2017, Published under Cement NewsQalaa Holdings, a leading energy and infrastructure investment company based in Egypt, announced its consolidated financial results for the quarter that ended in 30 June with a net loss worth EGP2.8bn (US$158m) in 2017, compared to EGP277.5m in 2016. The company announced its revenues reached EGP2.3bn during the second quarter 2Q17, with revenue growth of 25 per cent YoY. Chairperson and Founder of Qalaa Holdings, Ahmed Heikal said, Qalaa achieved a 76 per cent EBITDA growth YoY to reach E... |
Plycem vows to increase competitiveness in Costa Rican market02 October 2017, Published under Cement NewsPlycem, a new company owned by Mexican billionaire Carlos Slim, will fight for a place in Costa Rica's cement market from the first quarter of 2018. The Mexco-based company will operate in Salinas Esparza, Puntarenas, with an investment of US$17m in an area of 50,000M². The project will create at least 200 jobs. Óscar Fonseca, Plycem Central America CEO, explained that the main objective of the company is to produce cement for self-consumption and, secondly, for marketing. The directors sa... |
Dangote Group implores Nigeria's federal government to back concrete roads02 October 2017, Published under Cement NewsDevakumar Edwin, executive director, strategy, portfolio development and Projects, Dangote Industries Limited, has appealed to Nigeria's federal government to embrace concrete road and use cement for the construction of its roads in Nigeria for durability purpose. Aside from being very cheap, he said concrete roads are more durable and that its maintenance cost is near zero. According to him: "We are pushing for Nigeria to do a concrete road. It is cheaper to do a concrete road that will la... |