Cement News tagged under: corporate
Holcim New Zealand posts full-year loss28 June 2017, Published under Cement NewsHolcim New Zealand, reported a loss of NZD12.3m (US$8.9m) for 2016 from a profit of NZD80m in the previous year, as it transitioned from ceasing cement production from its Westport facility to becoming an importer, thereby incurring higher distribution costs. "We had higher distribution costs due to the transition of our business away from manufacturing," a company spokeswoman said. "Our results for 2016 and YTD 2017 are in line with expectations given our focus last year was on bu... |
Ube Industries increases stake in Tokyo Cement28 June 2017, Published under Cement NewsJapan-based Ube Industries' Singapore subsidiary Ube Singapore Holdings has acquired a further 10.62m shares in Sri Lanka-based Tokyo Cement Company Lanka Plc, for LKR764.6m (US$5m), a stock exchange filling said. As at 31 March 2017, Ube Singapore Holdings held a share of over two per cent (4.4m shares) in Tokyo Cement. With this new acquisition its shareholding has increased to over 10 per cent. |
Martin Marietta Materials to acquire Bluegrass27 June 2017, Published under Cement NewsMartin Marietta Materials Inc and Bluegrass Materials Company announced that they have entered into a definitive agreement under which Martin Marietta will acquire aggregates company Bluegrass for US$1.625bn in cash. Bluegrass is the largest privately-held, pure-play aggregates company in the United States, with a portfolio of more than 125 years of high-quality reserves. Bluegrass operates 23 active sites across Georgia, South Carolina, Maryland, Kentucky and Tennessee, generating consolid... |
LafargeHolcim appoints new Group Head of R&D27 June 2017, Published under Cement NewsLafargeHolcim announces the appointment of Heike Faulhammer (50) as Group Head of Research & Development, effective July 1, 2017. Heike Faulhammer joins LafargeHolcim from Arkema, one of France’s leading chemicals producers, where she has spent 20 years in research, production, product innovation-related functions and sustainable development. In particular, she acted as a Director at Arkema’s global R&D center in Lacq, southwest France. Heike Faulhammer graduated from the University of Fr... |
Daehan acquired by South Korea's leading producer26 June 2017, Published under Cement NewsSsangyong Cement Industrial Co of South Korea has purchased Daehan Cement Co, the country’s largest blastfurnace slag cement producer at KRW265bn (US$232.8m). The acquisition will enable Ssangyong Cement to secure its leadership over Hanil Cement Co that recently acquired Hyundai Cement Co, a smaller rival. The deal entitles the cement manufacturer to take over Daehan Cement and Daehan Slag Co and will give the company a 24 per cent share in the domestic cement market. Daehan Cement post... |
Fauji Cement's damaged line will be operational in 1QFY1826 June 2017, Published under Cement NewsAccording to market sources, Fauji Cement's (FCCL) damaged 7500tpd Line II is expected to be operational in 1QFY18. Similarly, construction of FCCL's 7.68MW waste heat recovery power plant is under way and likely to start in early-FY19. Situated in Jhang Bahtar village, Attock district, FCCL's CF silo cement production Line II collapsed in May 2016. As a result, the line's coal mill, a substation of the coal-fired Line 1 (capacity of 3700tpd) and some equipment of the line's raw milling ... |
Lebanon: Chekka inaugurates new bag filter26 June 2017, Published under Cement NewsCimenterie Nationale has inaugurated the new bag filter at its Chekka plant. The new filter will reduce SOx and NOx emissions to 15mg/m3, well below the international norm of 50mg/m3. At the ceremony, which was attended by more than 200 distinguished guests, Cimenterie Nationale’s CEO, Pierre Doumet, said the new filter was testimony to “a permanent modernisation” of the works, a plan started two-and-a-half years ago by the company. However, the US$200m project is still awaiting the r... |
Cementos Molins President passes away26 June 2017, Published under Cement NewsPresident of Cementos Molins, Casimiro Molins Ribot, passed away aged 97 on 25 June in Barcelona, Spain. He had been member of the company board of Sant Vicenç dels Horts for 71 years. In 1945 Mr Molins Ribot was appointed Board member and Secretary to the cement company which his grandfather, Juan Molins Parera, founded and led the Board since 1972. He was appointed President in 1986. Under his leadership, Cementos Molins consolidated the diversification of its business and its inter... |
Taiwan plans to lower cement cap on exports21 June 2017, Published under Cement NewsThe government of Taiwan plans to lower the cap on Taiwan's cement exports from over 20 per cent of total output to 15 per cent to help protect the environment, Vice Minister of Economic Affairs Yang Wei-fuu has said. In response to concerns that the pursuit of aggressive cement export growth has come at the expense of environment, Yang said the ministry is devising an environmental impact assessment (EIA) policy for the development of the cement industry. The policy is scheduled to be co... |
S&P puts Cemex ratings on Watch Positive20 June 2017, Published under Cement NewsS&P Global Ratings has placed its 'BB-' global scale and 'mxA-/mxA-2' national scale ratings on Cemex on CreditWatch with positive implications. The recovery rating on all Cemex's rated senior debt remains at '3', which indicates that bondholders can expect a meaningful (50-70 per cent, in the higher band of the range) recovery in the event of a payment default. S&P writes: "Following our 30 January 2017 upgrade of Cemex, our base-case scenario assumed that the company would remain commit... |