Cement News tagged under: corporate
Cementir appoints Paolo Bossi CEO of Italian unit, Sacci and Betontir21 September 2016, Published under Cement NewsItalian cement producer Cementir has appointed Paolo Bossi as CEO of Cementir Italia, Cementir Sacci and Betontir. The arrival of Paolo Bossi, following the acquisition of the cement and concrete business of Sacci, currently Cementir starts the rationalisation process of the Cementir group in Italy, a company statement read. The new CEO's first challenges include returning the companies to profit while maintaining and improving product and service quality. |
Egypt: Wadi El Nile Cement to upgrade clinker output20 September 2016, Published under Cement NewsWadi El Nile Cement Company (WNCC) has given FLSmidth an order to upgrade its plant from 6000 to 7200tpd of clinker. The order is contained within a new five-year maintenance contract with WNCC for its cement plant located approximately 120km south of Cairo. The arrangement is an extension of the original 2010 contract. "The continuation of the contract is visible proof of the successful partnership we have with WNCC. We have now operated their 6000tpd plant for almost five years. The p... |
LafargeHolcim to consider pulling out of more markets19 September 2016, Published under Cement NewsLafargeHolcim is muling over the option to withdraw from several markets to make last year's merger a success, chairman Beat Hess told weekly Sonntagszeitung. "We will be present in less countries for sure," Hess was quoted as saying. The sale of operations in several countries was an option, he said. While the new company generates 80 per cent of its operational earnings before taxes, depreciation and amortisation in 25 countries, Mr Hess added that there was "much potential for impr... |
Italcementi sells its own shares to HeidelbergCement for EUR40.9m19 September 2016, Published under Cement NewsItalcementi tendered on 19 September 3,861,604 company shares, corresponding to all of its own shares held, for a total of EUR40.9m during the mandatory takeover bid launched by German HeidelbergCement on the shares it did not own in the Italian group. Italcementi shares were bought by HeidelbergCement France at a price of EUR10.6 per share, as provided in the tender documents on Italcementi shares, a joint statement of Italcementi and HeidelbergCement Group said. |
Rwanda: dealers and developers call for Cimerwa price drop19 September 2016, Published under Cement NewsCement dealers and property developers in Rwanda's capital, Kigali, have called on Cimerwa to cut its prices, Rwanda Focus reports. Current prices for a 50kg bag of Cimerwa cement are around RWF11,000 (US$13.68), compared to RWF8500-9000 for imported cement. Busisiwe Maria Legodi, Cimerwa's CEO, said in an interview with Rwanda Focus earlier this year: "People who think that imported cement is cheaper than the one made locally need to look at one thing: what is cheap is cheap because t... |
Uganda: Hima Cement signs supply deal with Guangzhou Dongsong19 September 2016, Published under Cement NewsUganda's Hima Cement and Guangzhou Dongsong Energy Group have signed a memorandum of understanding for the supply of over 40,000t of cement for the construction of the latter firm’s phosphate and steel projects, Kampala’s Observer newspaper reports. Daniel Pettersson, chief executive officer of Hima Cement, said: "The purpose of this MoU is to establish the relationship between Hima and Guangzhou Dongsong. This cooperation of both parties shall cover the project of construction of the pho... |
Pakistan: Dewan Cement denies Anhui Conch interest16 September 2016, Published under Cement NewsChina's Anhui Cement Co Ltd is reported by Pakistan's local media to have set its eyes on Dewan Cement Ltd (DCL) as it seeks business opportunities in Pakistan. While DCL shares have been trading heavily as a result in the past few months, DCL has denied rumours of a takeover. DCL Director, Haroon Iqbal, and Company Secretary, Muhammad Hanif German, said in response to a Pakistan Stock Exchange (PSE) query whether any Chinese company is buying a substantial stake in the company, "Chinese... |
Azerbaijan: EBRD increase stake in Holcim plant16 September 2016, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) has raised its stake in the equity capital of Holcim (Azerbaijan) OJSC in Azerbaijan (formerly Garadagh Cement Plant) to 20 per cent. A statement from the EBRD read, “The bank will continue to support a major company in Azerbaijan, demonstrating continued support for the country's non-oil sector. In addition, the company is committed to sustainability standards, and will pursue the use of alternative fuels in its operations.” ... |
India: Nirma raises US$598m to finance Lafarge acquisition16 September 2016, Published under Cement NewsNirma Group, which in July won the race to buy Lafarge India for a reported US$1.4bn, has raised INR40bn (US$598m) from a bond sale to finance the purchase, the Economic Times reports. Nirma has created a special purpose vehicle, Nirchem, which administered the bond sale and will be used in the acquisition process. The sale, the largest of its type, was oversubscribed, with investors attracted by the 8.68 per cent yield, seen a decent price given Nirma’s AA credit rating. |
India: Ramco increases sales by 15% in 1Q16-1716 September 2016, Published under Cement NewsRamco Cements Ltd has stated that it sold 2.076Mt of cement in domestic and export markets during the first quarter ending on 30 June 2016 compared to 1.813Mt in corresponding quarter last year, which translates to a growth of 14.5 per cent. The company has earned a net profit of INR1563.6m (US$23.4m) in 1Q16, an increase from INR992.50m in 1Q15. Cement sales improved by about 15 per cent during the first quarter of 2016-17 compared to 1Q15. Ramco operates eight integrated cement plants... |