Cement News tagged under: corporate
Unacem acquires Hormigonera Quito20 July 2017, Published under Cement NewsPeru-based Unacem has bought a 100 per cent stake in concrete producer Hormigonera Quito of Ecuador. Hormigonera Quito operates two industrial plants - one north of Quito on a 16,000m 2 site and another one to the south on a 22,000m 2 plot. The concrete manufacturer was established in 1984 and is part of the American Concrete Institute, the Ecuadorian Chamber of Construction and Industry Chamber. |
UltraTech sees profit growth in 1QFY1819 July 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to INR65.35bn in the corresponding period of the previous year. Profit before interest, depreciation an... |
FTC approves divestment of Martinsburg plant and related assets19 July 2017, Published under Cement NewsFollowing a public comment period, the US' Federal Trade Commission (FTC) has approved an application from HeidelbergCement AG and Italcementi SpA to sell the Essroc cement plant in Martinsburg (WV), eight cement terminals in the mid-Atlantic and related assets to Argos USA LLC, a subsidiary of Cementos Argos SA. The divestiture is required by the FTC's August 2016 final order settling charges that the merger of Heidelberg and Italcementi would likely harm competition in five regional mar... |
Hanil completes acquisition of Hyundai Cement19 July 2017, Published under Cement NewsHanil Cement Co has completed the acquisition of Hyundai Cement Co in South Korea. The consortium of Hanil Cement and LK Investment Partners has paid US$552.2m for a controlling stake of 84.56 per cent stake (or 14.17m shares) of Hyundai Cement from 32 creditors, including the Korea Development Bank and Hana Financial Investment Co. The two companies formed HLK Holdings, a special purpose company, to acquire the shares. Hyundai Cement held a shareholders’ meeting on Tuesday, approving the ... |
ACC achieves sales growth of 18%18 July 2017, Published under Cement NewsIndia-based cement producer ACC Ltd has recorded a 32.6 per cent growth in consolidated net profit for the April-June quarter, helped by sales growth. The LafargeHolcim group company said net profit for the three months to the end of June 2017 totalled INR3.26bn (US$50.7m). Operating EBITDA improved by 38 per cent to INR6.37bn. Pretax profit was up by 19 per cent in the current quarter. The company achieved an 18 per cent YoY rise in turnover to INR33.29bn during the quarter, noting th... |
Nova Cimangola’s new clinker line enters service17 July 2017, Published under Cement NewsNova Cimangola has inaugurated its new 2Mta clinker line in Cacuaco, enabling the country to become self-sufficient in clinker production. The expansion raises the capacity of the plant, which sits on an 687ha site, to 3.8Mta. The project represents an investment of US$300m. Around 220 new jobs were created for the operation of the works with 85 per cent filled by local people. |
RINL and CCI to set up cement plant17 July 2017, Published under Cement NewsSteel producer Rashtriya Ispat Nigam Ltd (RINL) and the Cement Corporation of India (CCI) have signed a Memorandum of Understanding (MoU), to establish a 2Mta fly ash and blastfurnace slag-based cement plant in a joint venture in two phases of 1Mta capacity each. RINL is offering around 35 acres of land for the proposed plant on its premises. The project is proposed to be completed in 15 months from the date of placement of order. |
Sergio Martínez new plant manager at Holcim Carboneras17 July 2017, Published under Cement NewsLafargeHolcim España has appointed Sergio Martínez Hernández as new plant manager at the company’s Carboneras plant. With more than 24 years of experience in the company, Mr Martínez Hernández joined Holcim in 1993 after completing his industrial engineering degree at the ETSII in Madrid, Spain. Since the incorporation of Holcim into the LafargeHolcim Group, Martínez Hernández has been developing his professional career assuming different responsibilities as head of maintenance, head of pr... |
Caribbean Cement Co to refinance operating lease14 July 2017, Published under Cement NewsCaribbean Cement Co plans to refinance the operating lease for its Rockfort plant in Kingston, the Jamaica Gleaner reports. The company is to set up a dedicated advisory board to address its operating lease, payable to immediate parent company Trinidad Cement Ltd. "The structure of the lease is not the most efficient and might have made sense five years ago when Caribbean Cement had no possibility to finance its assets," said Caribbean Cement General Manager, Peter Donkersloot Ponce, at... |
Cemex Aggregates signs new lease agreement14 July 2017, Published under Cement NewsCemex Aggregates has signed a new 10 year-lease for an 8.2 acre marine terminal with the Port of Redwood City i n South San Francisco Bay, USA, with an option to extend the lease for another decade. Cemex Aggregates imports building materials from Canada, including sand and aggregated, used in Silicon Valley and Redwood City construction projects. Over the past three years Cemex has imported nearly 4Mt of building materials. Cemex also has the capability to use port docks for cement impo... |