Cement News tagged under: corporate
Kenya: Savannah Cement resumes operations12 January 2017, Published under Cement NewsSavannah Cement has reopened operations after temporary closure over the Christmas season to undergo major renovation. “We have decided that going forward we will be doing annual maintenance of the plant during the festive season to enable us meet our customer needs more efficiently,” Savannah Managing Director, Ronald Ndegwa, said. The cement manufacturer replaced wear parts in the grinding mill with an aim of increasing production, boosting quality and enhancing efficiency. Speaki... |
India: Anjani Portland Cement commissions power plant12 January 2017, Published under Cement NewsAccording to reports in the Hindu, Anjani Portland Cement has commissioned a 16MW captive coal-fired power plant at its cement unit in Telangana. |
India: JSW Cement takes 37% stake in Shiva Cement12 January 2017, Published under Cement NewsJSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of publicly held shares in Shiva – a majority stake. Shree Cement had also been in the running to acqu... |
India: JSW Cement acquiring controlling stake in Shiva Cement11 January 2017, Published under Cement NewsJSW Cement Ltd is to buy the entire promoter holding in cement maker Shiva Cement Ltd and launch an open offer to acquire another 32 per cent from the company's public equity shareholders. Odisha-based Shiva Cement confirmed that it has agreed to sell its 35.6 per cent promoter holding to JSW Cement at INR14/share (US$0.20/share). In a separate BSE filing, JM Financial Institutional Securities Ltd, manager to the offer, said that JSW Cement, together with Sun Investments Pvt Ltd and Re... |
LafargeHolcim supplied 30 concrete types to Elbphilharmonie11 January 2017, Published under Cement NewsLafargeHolcim will see the completion of new Elbphilharmonie concert facilities in Hamburg, Germany, today. The cement producer delivered some 30 different types of concrete to meet the architects’ aesthetic and technical expectations in building a concert hall with outstanding acoustics and innovative design. A total of 63,000m3 of concrete were delivered by a consortium led by the company’s German subsidiary, Holcim Deutschland. Designed by Swiss architects Herzog & de Meuron, the plans... |
India: Burnpur Cement blames demonetisation for repayment failures10 January 2017, Published under Cement NewsBurnpur Cement has declared its inability to repay bank loans on Saturday due to demonetisation as its repayments had turned “irregular” with lenders because of “depressed” market conditions. Located in eastern India, Burnpur Cement is looking to raise its production capacity from 0.6Mta to 3Mta, split between two units, at a cost of INR5000m (US$73.3m). The company made a regulatory filing at the weekend and said it had fallen behind on repayments because its cash flow was impacted by dem... |
USA: Bessemer Cement partly under Argos ownership10 January 2017, Published under Cement NewsArgos USA purchased 13.92 acres of the 114 acre Bessemer Cement plant site from Essroc Cement Corp for US$1,226,026 in November 2016, according to a deed of transfer from the local recorders Office, reports New Castle News. Jeff Sieg of Lehigh Hanson Inc explained to New Castle News that the sale was part of a Federal Trade Commission required divesture of certain assets related to HeidelbegCement's acquisition of Italcementi. In a press release last August, HeidelbergCement announce... |
Semen Indonesia net profit down by 3% in 201610 January 2017, Published under Cement NewsPT Semen Indonesia Tbk made a net profit of IDR4.01trn (US$301.6m) in 2016, which was lower than the IDR4.52trn the previous year. "National cement growth in the year was down three per cent due to the presence of new industries and the projection of a negative 1.1 per cent growth in December," said Rizkan Chandra, president and director of the company. Mr Chandra went on to say how the company’s Tuban plant was performing well, with production at the plant reaching 1,381,907t, five pe... |
Cemex amends Trinidad Cement bid10 January 2017, Published under Cement NewsCemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra Trading holding up to 74.9 per cent of the equity share capital in TCL. Pursuant to the amended ... |
Semen Indonesia expects 5% sales growth in 201709 January 2017, Published under Cement NewsState-owned cement company PT Semen Indonesia (Persero) Tbk is targeting 4-5 per cent sales growth in 2017. Semen Indonesia Corporate Secretary Agung Wiharto said that new plants in Rembang in Central Java and Indarung VI in Padang, West Sumatra, will help it achieve higher sales. “If they go according to plan, we expect Semen Indonesia’s new plants in Rembang and Indarung can contribute [to push growth],” he said. He revealed that Semen Indonesia’s total cement capacity stands at 29Mta... |