Cement News tagged under: corporate
Semen Indonesia: unsuccessful Holcim (Lanka) bid will not deter from ASEAN expansion29 September 2016, Published under Cement NewsPT Semen Indonesia (Persero) Tbk's director, Rizkan Chandra, has claimed that Siam City's bid for Holcim (Lanka) Ltd was "an outrageous price". Siam City Cement won 99 per cent of the Holcim Lanka shares for US$400m. "We lost the tender in Sri Lanka because Siam City Cement bid an outrageous price," said Mr Chandra to CNN Indonesia. "The price Siam City paid was an anomaly. The lowest price by one of the seven other bidders was US$240m," he explained. The director disclosed that ... |
Mexico: Elementia considers price rise to help fund investment plan29 September 2016, Published under Cement NewsElementia is considering a potential rise in its cement price following the depreciation of the Mexican peso against the US dollar, according to the El Financiero newspaper. The price rise will help to maintain the viability of its US$250m investment programme that includes a capacity expansion at the company’s Hidalgo works as well as contributing to debt payments, of which a significant part are denominated in dollars. |
Azerbaijan: Akkord Concrete and Gazakh Cement merge28 September 2016, Published under Cement NewsThe Akkord Industry Construction Investment Corporation OJSC has merged two of its businesses. The Akkord Concrete LLC and Gazakh Cement plant LLC have been merged, according to a news report from the Azeri-Press Agency. The news agency says the merger between the two enterprises was made known by the Ministry of Taxes. Akkord Cement LLC operates the 1Mta Gazakh cement plant in Dash Salahli village. Akkord Concrete LLC operates 10 concrete plants in the country with a ready-mix product... |
Philippines: competition commission probes cement industry28 September 2016, Published under Cement NewsThe Philippine Competition Commission (PCC) has warned cement companies of the repercussions should it violate antitrust laws. PCC Commissioner, El Cid Butuyan, said, "We intend to exercise our enforcement powers in a way that is envisioned under the law, which is a muscular agency, not a paper-pushing, rubber-stamping agency." The agency has decided to investigate the country’s cement industry after a private citizen filed a case. Mr Butuyan said the person in question was a former publi... |
Pakistan: Pioneer Cement profits up slightly in FY201628 September 2016, Published under Cement NewsPakistan cement producer Pioneer Cement Ltd has reported post-tax profits of PKR2.51bn (US$24m) for the financial year ended June 2016, a rise of 0.9 per cent YoY. In a notice to Pakistan Stock Exchange (PSX), the company stated that its net sales increased by 11 per cent to PKR9.36bn over the same period. Pioneer incurred distribution costs of PKR60m and administrative expenses of PKR81.5m, both up slightly on last year. However, the financing cost fell to just PKR17.5m, around a third o... |
Chile's three largest cement producers sees 1H sales rise 3.7%27 September 2016, Published under Cement NewsChile's top three cement companies - Cemento Melon, Cementos Polpaico and Cementos Bio Bio - recorded a 3.7 per cent YoY rise in sales to CLP339.82bn (USD510.48m) in the first six months of 2016. This represents the lowest growth rate in three years. Cementos Bio Bio's sales increased 6.6 per cent to CLP151.9bn as it was affected by the economic slowdown. Cementos Polpaico posted sales of CLP75.92bn, an advance of two per cent when compared with 1H15, on the back of better pricing as volum... |
USA: public asked for their comments on Martinsburg plant's future27 September 2016, Published under Cement NewsFederal regulators are seeking public opinion on one aspect of the pending US$4.2bn merger between HeidelbergCement and Italcementi that will include a change in ownership for Essroc Cement Corp and the Martinsburg cement plant, West Virginia. The Federal Trade Commission (FTC) have raised concenrs about the likelihood that the sale of the Martinsburg cement plant to Argos USA LLC for US$660m would likely harm competition in five US markets - Indianapolis, Baltimore-Washington, DC, Syracus... |
Cemex: Jamie Muguiro to take over Cemex Latam CEO duties27 September 2016, Published under Cement NewsCemex Latam Holdings SA Chairman, Jaime Muguiro, will take over CEO duties in coming days after the unit said it found about US$20m in irregular payments in the construction of its new Colombian cement plant, prompting its chief executive officer to resign. Cemex SAB de CV is down more than one per cent on the stock exchange. The company terminated two senior officials and its CEO resigned to “facilitate investigations” after an internal probe found payments related to a cement plant be... |
UK: Hanson make management changes26 September 2016, Published under Cement NewsHanson Cement (HeildelbergCement Group) in the UK has made a number of new senior appointments within its packed products team. Andy Simpson becomes national commercial director, Chris Hall joins Hanson as national account manager and Jack Vincent is promoted to field sales manager, a new position within the company. Mr Simpson, previously responsible for all sales of Hanson's packed products, will focus on building strong trading relationships with merchant customers and with internal tea... |
India: Rain Cements brings WHR power plant online26 September 2016, Published under Cement NewsRain Cements Ltd has started its waste heat power generation (WHPG) plant at its cement unit at Boincheruvupalli Village, Peapully Mandal, Kurnool district in Andhra Pradesh, India. The new facility will generate up to 7MW from the waste heat and flue gases from the cement works. The power plant represents an investment INR0.7bn, finance entirely from internal funds. It will enable Rain Cements to reduce the use of fossil fuels and the cost of power generation. |