Cement News tagged under: corporate
Caribbean: Cemex launch takeover bid for TCL05 December 2016, Published under Cement NewsCemex SAB de CV today announced that one of its indirect subsidiaries, Sierra Trading will present an offer and takeover bid for all shareholders of Trinidad Cement Ltd. "This Offer represents a clear sign of our commitment to TCL and the region. In addition, although we believe that our Offer is attractive given the premium to the current share price, as part of this commitment, it is also important to us that TCL remains a listed company, so that local investors can continue to benefi... |
India: Dalmia Bharat Group to expand Odisha plant05 December 2016, Published under Cement NewsDalmia Bharat Group has announced an investment of INR20bn (US$2.9m) to expand the capacity of its cement plant in Odisha. Group company Dalmia Cement Bharat Ltd has 74.6 stakes in OCL India, a leading cement maker with the largest market share in Odisha. Mahendra Singhi, Group CEO, Dalmia Bharat Group, said: "Odisha is a currently on a high economic growth trajectory and its GDP is expected to grow at around 12 per cent by 2020. The state government's commitment to industrial development ... |
Philippnes: DMCI Holdings wants new cement plant on Semirara island05 December 2016, Published under Cement NewsDMCI Holdings Inc is planning to build a cement plant on Semirara Island in the Visayas worth PHP18.3bn in an industry dominated by foreign manufacturers. The company hopes it can ride on the government’s infrastructure programme. Victor Limlingan, DMCI managing director, said the company is spending a total of US$380m (about PHP18.3bn) for the cement-manufacturing venture, building a cement plant and three separate grinding plants located in Batangas, Iloilo and Zamboanga, three areas tha... |
Argos becomes the fourth largest US cement producer05 December 2016, Published under Cement NewsCementos Argos is now the fourth largest cement plant in the United States after the Federal Trade Commission approved the acquisition of the 2.2Mta Martinsburg cement plant and the eight product dispatch and receipt terminals for US$660m. The assets acquired open the door to new markets in the states of Pennsylvania, Maryland, District of Columbia, New York, New Jersey and Ohio. Cementos Argos has expanded its presence in the United States, reaching 13 states and increasing its produ... |
Ghana: Diamond cement fears staff lay offs05 December 2016, Published under Cement NewsDiamond Cement is still considering its decision to lay off 50 per cent of the company’s staff over reports that it cannot sustain its operations, according to Citi Business News. Diamond cement has announced plans to reduce its staff strength by half by the end of November 2016. “We have not started laying off any of the real staff; we are now considering the situation. If nothing changes, then we will undertake the redundancy exercise,” the General Manager for Diamond Cement, Tati Ramara... |
Ghana: CIMAF plant opens for business02 December 2016, Published under Cement NewsGhanaian president John Dramani Mahama has officially opened his country’s newest cement plant, a 1Mta grinding facility owned by CIMAF, according to a report in Ghana Business News. The President – who is seeking to retain power in this month’s elections – called on the company to direct a substantial share of its profits to improving the socio-economic development of the country and the lives of its ordinary citizens. Anas Sefrioui, president of the CIMAF Group, said the Tema plant c... |
USA: Elementia acquires 55% stake in Giant Cement02 December 2016, Published under Cement NewsElementia, SAB de CV has announced that its Board of Directors has given its final approval for the completion of the acquisition of a 55 per cent stake and full control of Giant Cement Holding Inc, USA. Elementia will acquire the controlling stake from Cementos Portland Valderrivas SA for US$220m. Elementia used proceeds obtain from he capital increase through a Rights Offering to complete the US$220m deal, resulting in an implied equity value of US$400m. The company then granted Giant C... |
Russia: Kavkazcement upgrades packing and shipment facility02 December 2016, Published under Cement NewsEurocement Group has started operation of a cement palletisation and shipment facility at Kavkazcement in Karachay-Cherkessia, northern Caucasus. A new automated bulk cement shipment system and enhanced dust control system will help speed up the shipment of products more than five-fold, improve customer services and working conditions at the plant. |
Chile: Melon SA divests mortar unit to ParexGroup02 December 2016, Published under Cement NewsChilean cement and construction materials producer Melon SA has agreed to sell its local mortar company Melon Morteros SA to ParexGroup, a French provider of specialty dry-mix solutions for the construction industry. The mortar unit is being sold for CLP4bn (US$6m), according to a filing with Chile’s securities and insurance regulator (SVS). ParexGroup will implement the transaction through its local subsidiaries, Parex Klaukol. SA and Parex Chile Ltd. |
Malaysia: CMS Cement division sees 14% drop in 9M16 pretax profits01 December 2016, Published under Cement NewsMalaysia’s Cahya Mata Sarawak Bhd (CMS) reported a total revenue of MYR1.10bn and a pretax profit of MYR160.41m in the first nine months of 2016, down 14 and 40 per cent YoY, respectively. The group’s cement division recorded a pretax profit of MYR76.98m, a decrease of 14 per cent YoY when compared with the record MYR89.23m recorded in 9M15. The company attributes the fall in profits to lower sales volumes, expenditure linked to the new cement mill and an unscheduled shutdown of the clink... |