Cement News tagged under: corporate
Kazakhstan: Steppe Cement 1H1626 September 2016, Published under Cement NewsSteppe Cement's 1H16 revenues fell 47 per cent YoY to US$24m, despite the company seeing a six per cent YoY increase in cement sales volumes. The decline in revenue was driven by the sharp depreciation in the tenge, while strong competition in the market resulted in further price falls. Steppe Cement's average ex-works price decreased nine per cent YoY to KZT8781/t in 1H16, while in US dollars terms the ex-works prices declined 51 per cent YoY to US$26/t. As a result, despite the s... |
Spain: Cementos Cosmos Oural plant to open next year23 September 2016, Published under Cement NewsFollowing the decision to reopen the Oural plant in Galicia, Spain, operated by Votorantim Cimentos-owned Cementos Cosmos, after a four-year stop and previously earmarked for closure, the works is scheduled to restart production next year. The reopening of the plant is expected to lead to 40 new jobs at the site in addition to 50 fixed subcontracts and 300 indirect jobs. Some 1800 job applications for the first 25 posts, which include electrical and electronic technicians, mechanical and c... |
Kenya: CDC Group appoints two directors to ARM's board of directors23 September 2016, Published under Cement NewsUK’s sovereign wealth fund CDC Group has appointed two directors to the board of Kenyan cement manufacturer ARM Cement Ltd in which it recently acquired a 40.6 per cent stake for KES14.1bn (US$139.4m). The fund appointed Pepe Meijer and Ketso Gordhan to the board of the Nairobi Securities Exchange-listed company. Investment banker John Ngumi was also simultaneously appointed as an independent director of the firm. The new directors will help drive the company’s strategy at a time when ... |
Nigeria: Lafarge Africa refinances with five-year bonds23 September 2016, Published under Cement NewsLafarge Africa (LafargeHolcim Group) has raised NGN60bn (US$184m) by issuing three and five-year bonds through book building. The cement producer issued a three-year bond at 14.25 per cent to raise NGN26.38bn and sold a five-year bond at 14.75 per cent to raise NGN33.62bn, it said in a statement. Previously, in April, Lafarge Africa reported that it would refinance some dollar-denominated debt at subsidiary United Company of Nigeria (UNICEM), which it bought a year ago. The refinancing wou... |
Sinoma sells Midong Tianshan and Fukang Tianshan stakes23 September 2016, Published under Cement NewsChina National Materials Company (Sinoma) said its subsidiary Xinjiang Tianshan Cement recently carried out an equity transfer framework agreement. A 64.56 per cent stake in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, both held by Tianshan Cement, as well as the 19.39 per cent stake in Midong Tianshan held by Xinjiang Tunhe Cement are to be under consideration for acquisition with Zhongtai Chemical. Sinoma added the equity transfer ... |
Uganda: Hima Cement to build grinding plant in Tororo22 September 2016, Published under Cement NewsHima Cement is to construct a new 0.9Mt grinding plant in Tororo in eastern Uganda, according to the country’s Observer newspaper. The plant, which is to cost US$40m, will be built close to that of rival firm Tororo Cement’s own factory. Hima’s move follows the announcement that it has signed a deal with Guangzhou Dongsong Energy Group to supply the latter with cement to build a steel plant and a phosphate plant in the Tororo region. Daniel Pettersson, Hima’s chief executive officer, s... |
China Resources Cement appoints Ji Youhong as new CEO22 September 2016, Published under Cement NewsJi Youhong has been appointed as new CEO, executive director and executive committee member of China Resources Cement following the resignation from these positions of Pan Yonghong to pursue other work within China Resources Group. Ji Youhong joined the Group in October 2003 and has served in various managerial positions of China Resources Cement. |
Vietnam: Xuan Thanh Cement Phase 2 enters main construction period21 September 2016, Published under Cement NewsThe 4.5Mta Phase 2 project of JSC Xuan Thanh Cement is entering its peak construction period, according to company reports. More than 60 per cent of the mechanical equipment, including a clinker kiln, raw and coal mills, ESPs, bag filters and cooler, has been delivered to the installation site. FLSmidth of Denmark was awarded the EUR100m equipment supply contract. Energy efficiency and state-of-the-art emission and process control systems were a key requirement in the design of the plant... |
Tanzania: Tanga Cement launches new all-purpose cement21 September 2016, Published under Cement NewsTanga Cement Plc (AfriSam Group) has set its eyes on capturing more of the residential and infrastructure construction market in Tanzania. Its new Mkombozi all-purpose 32.5N cement was launched in Dar es Salaam yesterday, reports the Citizen. "This is all-purpose cement meant for various construction activities," said Leslie Massawe, Tanga Cement's sales manager. "It is a step by the company to approach Tanzanians with an innovative product of high quality and affordable to the people."... |
Pakistan: positive outlook for Pioneer Cement21 September 2016, Published under Cement NewsThe outlook for 2017 for Pioneer Cement Ltd appears to be positive, with major projects related to the company’s growth and energy efficiency expected to make further progress. These projects are forecast to boost the company’s profit margins. They include the installation of a 12MW waste heat recovery system, due for commissioning in November-December 2016 and a new 2500tpd grinding mill, which will improve production by 25-30 per cent once completed in February-March 2017. Pioneer C... |