Cement News tagged under: corporate
India: Delhi real estate developers to boycott Shree Cement08 July 2016, Published under Cement NewsThe Confederation of Real Estate Developers' Associations of India’s (CREDAI’s) regional representatives in Delhi have announced that they will boycott Shree Cement, according to reports in the Times of India. CREDAI accuses the cement producer of pushing up prices and creating artificial scarcity. It intends to file a complaint with the Competition Commission of India (CCI). A CREDAI spokesperson said: "Shree Cement is arbitrarily increasing prices and stopping supply in between, dema... |
Greece: Heracles Cement plant modernisation07 July 2016, Published under Cement NewsHeracles Cement, a member of the LafargeHolcim Group, announced the completion of its first phase of an investment plan to modernise its Volos plant. The project, costing approximately EUR5m (US$5.5m), aims to boost the plant's export activity and competitiveness in the domestic market. In 2016, Heracles Group has modernised the plant's electrical installations, as part of its strategic priorities to ensure employees' Health and Safety, improve functionality and achieve sustainable dev... |
Egypt: Qalaa 1Q16 losses07 July 2016, Published under Cement NewsQalaa Holdings recorded a 1Q16 net loss of EGP242.7m (US$27.3m), greater than the losses of EGP112.2m (US$12.6m) seen in the same period last year, as reported by news organisation Zawya Ltd. Total revenues saw a 20 per cent increase YoY in 1Q16 compared to the adjusted EGP1.44bn reported for 1Q15. Comparative 1Q15 figures have been adjusted to reflect the divestment of ASEC Minya, ASEC Ready Mix, Ashreq, Misr Qena Cement, Rashidi El-Mizan and Tanmeya, eliminating the figures of divested ... |
India: Ramco given go ahead for power plant upgrade07 July 2016, Published under Cement NewsRamco Cements has received a boost to its share price after it was given environmental clearance to expand the power plant at one of its facilities. The company’s shares rose by 0.7 per cent after it announced that it had been allowed to proceed with its plans to expand the captive power plant at Alathiyur in Tamil Nadu . This project will raise generation capacity to 42MW at a cost of INR214m (US$3.2m). Fuel for the coal-fired plant will be sourced from Indonesia. |
TCC International Holdings forecasts 1H16 loss07 July 2016, Published under Cement NewsHong Kong-based TCC International Holdings Ltd issued a profit warning, expecting to record a loss for the six months ended 30 June 2016, as compared with the profit of US$10.5m in the year-ago period. The turnaround was mainly due to the decrease in the average unit selling price of cement, clinker and slag powder in China as compared with the year-ago period as well as an expected foreign exchange loss from US dollar-denominated bank borrowings as a result of the devaluation of CNY. ... |
India: two new projects announced06 July 2016, Published under Cement NewsBirla Group’s Mangalam Cement and Absolute Cement & Polymers have unveiled plans to increase capacity at existing plants in India. Mangalam’s project – the larger of the two – will see its Kota integrated plant upgraded from 6.1Mta to 9Mta. This includes expanding clinker capacity from 4.06Mta to 5.3Mta and increasing the size of its captive power plant to 52.5MW. The project is expected to cost INR6.4bn (US$95m). Part of the additional clinker production will be transported to a proposed... |
LafargeHolcim’s fifth international design awards opens for entries06 July 2016, Published under Cement NewsThis week sees LafargeHolcim’s fifth international sustainable construction awards open for submissions. The awards, administered by the LafargeHolcim Foundation, will be accepting entrants until 21 March 2017. The competition’s main category is open to architects, planners, engineers, students of related disciplines, project owners, builders and construction firms that showcase sustainable responses to technological, environmental, socioeconomic and cultural issues within contemporary bu... |
India: UltraTech concludes Jaypee deal05 July 2016, Published under Cement NewsUltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement operations, UltraTech will also acquire the 4Mta grinding unit that is currently being constructed in Utt... |
Cyprus: Vassiliko Cement does not expect strategy change05 July 2016, Published under Cement NewsCyprus’s Vassiliko Cement Works Plc Ltd said HeidelbergCement AG is now in control of almost 26 per cent of the Cypriot cement company's voting rights after it acquired a controlling stake in two of its major shareholders. HeidelbergCement directly and indirectly owns 45.5 per cent of Italcementi, which in turn is the owner of of Compagnie Financière et de Participations and Italmed Cement Co, which own 9.7 and 16.3 per cent of Vasiliko shares, respectively, reports Cyprus Business Mail.... |
Pakistan: Pioneer approves new 7000tpd plant05 July 2016, Published under Cement NewsPioneer Cement (PIOC) informed Pakistan Stock Exchange (PSX) on 4 July that the company’s board of directors has approved a capacity expansion plan for a new 7000tpd cement plant. The present Chenki unit, Khusshab district, produces 2Mta of cement in the heart of Punjab province, 250km away from Lahore and 120km away from the M2 motorway. The board also directed company management to consider the possibility of acquiring other cement manufacturer (though no name or structure has been d... |