Cement News tagged under: corporate
Pakistan: Bestway Cement shelves plans to acquire Dewan Cement10 April 2017, Published under Cement NewsBestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Ltd located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the company said in a notice issued to the Pakistan Stock Exchange. Bestway did not cite the reason for its... |
IFC considering equity injection in Myanmar cement plant expansion project10 April 2017, Published under Cement NewsThe International Finance Corp (IFC) is considering an equity injection into the brownfield expansion of Shwe Taung Cement Co's cement plant at Pyi Nyaung village, Myanmar . Shwe Taung Cement is part of a local conglomerate, Shwe Taung Group (STG) The total project cost is estimated at US$110m. The proposed IFC investment in STC comprises an investment in common equity for up to US$15m and providing an A Loan of up to US$20m. The IFC is also looking to mobilise up to US$20m through the s... |
China Shanshui Cement says some properties of unit "illegally occupied" by Jingtian10 April 2017, Published under Cement NewsChina Shanshui Cement today informed its shareholders that some properties of its Shandong Shanshui Cement Group unit were "illegally occupied" by Mi Jingtian, the former deputy general manager of Shandong Shanshui and his associates. The company said that on 8 April the directors of the company entered and tried to repossess the properties of Shandong Shanshui in Jinan city. It said the directors were held against their will by an unidentified crowd "commanded and organised by Mi Jingtian... |
Croatia: EC prevents Cemex Croatian sale07 April 2017, Published under Cement NewsCemex SAB de CV has announced that the European Commission has refused Cemex permission to sell its Croation operations to Duna-Drava Cement Kft, a joint venture owned by HeidelbergCement and Schenk Zement AG. Therefore, Cemex will maintain its three cement plants, seven concrete plants and two aggregate quarries in Croatia, as well as its network of maritime and land-based terminals in Croatia, Bosnia-Herzegovina and Montenegro. |
Brazil: Votorantim set to complete key investments abroad in 201707 April 2017, Published under Cement NewsVotorantim SA will complete key investment projects this year to return return to profit amid a challenging outlook, said Votorantim's CEO, João Miranda. Capital spending needs should ease as several investments in Turkey, Bolivia and the United States as well as a Brazilian wind farm project are slated to turn operational next year. Votorantim's loss came in the wake of a nine per cent drop in net revenue to BRL26.7bn (US$8.4bn) amid lacklustre cement and aluminium results and lower in... |
Vietnamese PM invites SCG to widen its investment in the country07 April 2017, Published under Cement NewsThe Prime Minister of Vietnam, Nguyen Xuan Phuc, has used a meeting with the head of Siam Cement Group to urge the company to expand its activities within the country. The Prime Minister met SCG President and CEO, Roongrote Rangsiyopash, in Hanoi on 5 April and used the occasion to underline the benefits of further investment in Vietnam. In March 2017 SCG announced that it was taking a 100 per cent stake in Vietnam Construction Materials, giving the Thai firm 3.1Mta of cement capacity in ... |
Uruguay: Ancap to reduce staff by a third07 April 2017, Published under Cement NewsAncap will reduce its number of employees by a third, according to the Uruguayan cement producer’s President, Marta Jara. While the step is part of a cost-reduction programme, the company said it will keep its three cement plants operational. Ms Jara stressed the need to "reorganise work, including automation, improving working conditions, avoiding overtime and overlapping of work." |
UK: small fire at Cemex Rugby plant07 April 2017, Published under Cement NewsA small fire broke out in the dust filtration system at Cemex's plant in Rugby, according to reports in the local press. Firefighters successfully extinguished the blaze, which occurred on Tuesday, 4 April. "No one was injured, everyone was safe, that’s the main thing. The emergency services attended which is standard procedure and the fire was brought under control," said Martin Casey, Cemex director of public affairs and communications. |
Philippines: Eagle Cement Corp eyes third Bulacan line06 April 2017, Published under Cement NewsEagle Cement Corp plans to open the third line of its Bulacan cement plant by 2018. The new line will add 2Mta of production capacity to the 5.1Mta integrated works in San Ildefonso, bringing its total cement capacity to 7.1Mta. Full funding for the new line has already been secured. In addition, the company is also looking to build a cement plant in Cebu by 4Q17 with completion of the 2Mta facility scheduled for 1Q20. The Cebu plant will be financed through the funds raised from the E... |
Dominican Republic: Cemex inaugurates San Pedro de Macorís packaging line06 April 2017, Published under Cement NewsCemex has inaugurated a new packaging and palletising line at its San Pedro de Macorís plant in the Dominican Republic. The new Italian-built facility represents an investment of DOP400m (US$8.5m) will enable the company to increase its capacity by 30 per cent, bringing the plant’s capacity to over 3Mta. "This is the first of several major investments to be made by CEMEX in the Dominican Republic. In the next two years we will be expanding our photovoltaic power generation plant, modi... |