Cement News tagged under: corporate
Kenya: Bamburi appoints three women to all-male board16 March 2017, Published under Cement NewsBamburi Cement has appointed three women as directors to its previously all-male board. Appointees include former Kenya Revenue Authority (KRA) Commissioner for Domestic Taxes, Alice Owuor, Rita Kavashe, chief executive of General Motors East Africa (GMEA) and Equity Group Foundation’s managing director, Dr Hellen Gichohi. The female directors now represent 30 per cent of the cement manufacturer’s board that previously comprised of just seven men after two female directors (deputy Cent... |
Cemex retains 9.5% of GCC16 March 2017, Published under Cement NewsCemex SAB de CV said that some of its underwriters did not exercise their over-allotment option to acquire shares in Mexico’s Grupo Cementos de Chihuahua SAB de CV. As a result, Cemex retains a direct stake of 9.47 per cent in GCC. Originally, Cemex aimed at offloading 23 per cent of GCC but only managed to sell a stake of 15.6 per cent, equivalent to 51.75m shares at MXN95 (US$4.83)/share. This shareholding also included a green shoe option and Mexico’s market leader was expected to ... |
UK: Hanson to develop Victoria Deep Water Terminal16 March 2017, Published under Cement NewsHanson (HeidelbergCement group) is planning to invest GBP12m at its Victoria Deep Water Terminal (VDWT) on the Thames at Greenwich, UK, to upgrade and improve the site. A planning application has been submitted to the Royal Borough of Greenwich along with a full environmental impact assessment. Hanson is proposing to replace two existing concrete batching plants with three new ones enclosed within a building. This new building will also house the raw materials for concrete production, prin... |
South Africa: rain dampens PPC Jan-Feb sales14 March 2017, Published under Cement NewsPPC announced that adverse weather had negatively affected its cement and concrete sales in South Africa during January and February 2017. Rainfall in excess of 200mm was experienced in many parts of the country during these two months. The cement manufacturer said it managed to reduce net debt to ZAR4.4bn (US$333.13m) as of December 2016 due to the conclusion of a component of the first empowerment transaction. PPC concluded Strategic Black Partners (SBPs) and Community Service Groups (C... |
Pakistan: Lucky Cement inaugurates WHR plant14 March 2017, Published under Cement NewsLucky Cement has inaugurated its 10MW fifth Waste Heat Recovery (WHR) power plant in Pezu, Khyber Pakhtunkhwa, Pakistan, on 15 February 2017. The fifth power plant, in collaboration with China-based Sinoma Energy Conservation Ltd became operational last month. Under this project, two 2400tpd cement production lines were used, which will provide sufficient heat for an installed power of 10MW. Speaking of the occasion, Mr Muhammad Ali Tabba, CEO Lucky Cement Ltd, said, "We, being one... |
Pakistan: Flying Cement to double capacity14 March 2017, Published under Cement NewsFlying Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that it has signed an agreement with a Chinese company for the procurement of plant and machinery to be installed at the cement producer's existing plant site in Mangowal, Khushab district, Punjab province. The new equipment will upgrade the works' current cement capacity of 2000tpd to 4000tpd. The financial results of the FCCL for the half year ended 31 December 2016 shows that the sales fell from PKR1223m (... |
HeidelbergCement Ukraine reduces loss by 56% in 201714 March 2017, Published under Cement NewsHeidelbergCement Ukraine reduced its loss by 55.6 per cent to -UAH289.17m (US$ 10.76m) from -UAH361.73m in 2016, according to a company statement. This follows a 62.7 per cent increase in losses in 2015 to -UAH650.9m. The company has operated in the Ukrainian market since 2001 with cement factories in Kryvyi Rih and Kamianske, Dnipropetovsk region and Novoamvrosiivske and Yenakieve, Donetsk region as well as premixed concrete and granite macadam. |
Zimbabwe: SZCC request title deeds from Gov14 March 2017, Published under Cement NewsSino Zimbabwe Cement Company (SZCC) has requested the title deeds for Indiva Farm, where the company is located, be transferred to them by the Government. Located 33km east of Gweru, Indiva Farm is regarded as State land and the absence of title deeds held by SZCC has resulted in the company failing to access lines of credit due to lack of collateral. Wang Yong, SZCC managing director, said that the company intended to set up an industrial park and wanted to attract more investors. Howeve... |
CRH's regional businesses push group sales up in 201613 March 2017, Published under Cement NewsCRH recorded sales of EUR27.1bn in 2016, 15 per cent up on 2015. Divestments and disposals generated total profits of EUR55m, boosting group revenues in several regions. The UK, Ireland and Spain delivered strong cement volumes for the group and white cement sales were up 18 per cent in Ireland, although domestic prices were constrained with overcapacity. While cement and ready-mix volumes were ahead in Spain, operating profits were lower than 2015. French cement deliveries were... |
Sri Lanka: new CEO for Siam City Cement Lanka13 March 2017, Published under Cement NewsNandana Ekanayake will assume duties as CEO of Siam City Cement Lanka Ltd as of 14 Match. Prior to joining Siam City Cement, Mr Ekanayake has held positions of Finance Director of Holcim (Vietnam) and Finance Vice President of Holcim Lanka Ltd. |