Cement News tagged under: corporate
United Kingdom: fire at Cemex’s South Ferriby plant19 July 2016, Published under Cement NewsCemex’s South Ferriby works in Lincolnshire was hit by fire on Sunday, according to reports in the local press. The fire, which began due to a fuel leak, spread to cables, pipework and a disused control room within the kiln room. In addition to damaging these areas, the remainder of the building suffered smoke damage. This is not the first disruption suffered by the 0.75Mta plant. In December 2013 the facility was put out of action by flood water from the Humber river. |
CCPC seeks Supreme Court decision on Irish Cement18 July 2016, Published under Cement NewsThe Competition and Consumer Protection Commission (CCPC) will directly appeal to the Supreme Court a High Court decision r estraining it from using certain material seized during a dawn raid of CRH subsidiary Irish Cement. Mr Justice Max Barrett ruled in April that the CCPC was not entitled to access, review or use material in a crh.com email account of CRH executive Seamus Lynch that was unrelated to Irish Cement. The CCPC has been granted leave by the Court of Appeal to take the... |
Pakistan: Lucky Cement highlights its social impact18 July 2016, Published under Cement NewsThe largest Pakistani cement manufacturer, Lucky Cement, has highlighted the contribution its operations have made to their locality and the country’s economy reports the Daily Times. Lucky Cement has pointed out that in 2014-15 it paid the government more than PKR7bn (US$67m) in sales and income taxes and generated PKR14bn (US$134m) in foreign exchange. In addition, the company has undertaken a programme to provide clean water supplies to residents of Pezu, its base of operations, whi... |
Cemex amortises US$353m debt15 July 2016, Published under Cement NewsMexican cement maker Cemex has amortised a US$352.95m debt that was due to expire in 2022, as part of its refinancing strategy to lower costs, reports Reuters. Cemex, which has been selling assets to cut debt, announced an offer to buy back up to US$400m in debt in April but said it would not buy back more than US$150m of the 2022 debt. However, on Thursday Cemex said debtholders agreed to an early tender of the 9.375 per cent notes falling due in 2022, with the company agreeing to pa... |
Kazakhstan: Steppe Cement sees 6% rise in 1H16 sales14 July 2016, Published under Cement NewsSteppe Cement Ltd sold 761,771t of cement for KZT8190m (US$23,970.4) during the first half of the year, a rose six per cent compared with 717,654t of cement for KZT8277m a year earlier. Average price for the current period for delivered cement was KZT10,751/t (ex VAT), compared with KZT11,533/t in the corresponding period of 2015 as companies defended their market shares, the company said. Steppe Cement's local market share increased to 18 per cent in the 1H16 from 16 per cent in the same ... |
UK: Hope Cement launches bagged product range14 July 2016, Published under Cement NewsHope Construction Materials have officially unveiled its new high-performance bagged cement products, which, for the first time, are all available in the company’s own packaging, as ICR reported in its March 2016 issue. Hope say customers can expect to benefit from advanced packaging technology and unparalleled delivery service, which aims to provide a consistent lead-time commitment of 1-3 days, reports Agg-Net. The full product range consists of 12 key products, which are produced at the... |
Spain: FCC refinances Portland Valderrivas debt14 July 2016, Published under Cement NewsIn the restructuring of the group, Spain’s FCC plans to refinance the syndicated debt of Cementos Portland Valderrivas (CPV), in which it owns a 77.9 per cent stake. Funds from FCC’s capital increase will be used to write of EUR325m of EUR823m of the total amount. CPV will then refinance the outstanding EUR500m over a period of five years. The refinancing will also enable the Spanish cement producer to obtain a reduction in interest rate from 4.5 per cent (Euribor) to 3.5 per cent. Key cr... |
Oman: Raysut Cement 2Q16 profits fall 2%14 July 2016, Published under Cement NewsRaysut Cement Company (RCC) reported a decline by two per cent in its second-quarter profits, according to a bourse statement. Profits reached OMR4.8m in 2Q16, compared to OMR4.9m (US$12.72m) in 2Q15. Moreover, net profits stood at OMR12.9m |(US$33.5m) in the first half of 2016, an increase of 17.8 per cent from OMR10.96m in the first half of 2015. |
Oman Cement’s 1H16 profits up 25%13 July 2016, Published under Cement NewsOman Cement has announced its profits are up by a quarter YoY for the 1H2016. In the first six months of the year, the company made a profit of OMR6.8m (US$17.7m), Muscat Daily reports. Total revenue was up by 15 per cent, at OMR31.5m (US$81.7m). The performance marks a recovery for Oman Cement after a poor trading year in 2015, but profits are still below their levels in the first six months of 2014. |
Ghana: Dangote creates 5000 jobs13 July 2016, Published under Cement NewsTo improve the access and availability of cement across the country, Dangote Cement Ghana has acquired 1000 new trucks for the distribution of cement into all parts of Ghana. These new trucks have opened up opportunities for drivers, loaders and truck driver assistants. Media Relations Manager for the company, Etornam Komla, said that the cement producers has started the recruitment process and that all new drivers will be on board by the end of July. As well as investing in distribution,... |