Cement News tagged under: corporate
HeidelbergCement Georgia reports record sales30 June 2016, Published under Cement NewsFor the year 2015 HeidelbergCement Georgia experienced record sales, with 1.63Mt of cement and clinker sold. These sales figures were up 19 per cent on the previous year’s result. With this growth in sales the company holds a 60 per cent share in the Georgian cement market. Director of Construction Materials, David Jugashvili said, “The recent economic changes and devaluation of the national currency have influenced the construction market in Georgia, causing certain risks for market pla... |
Sagar Cements acquires grinding unit from Toshali Cements30 June 2016, Published under Cement NewsSagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the company to save its logistic cost and to introduce slag cement to cater markets in Visakhapatnam, V... |
China: BBMG sells stakes to Jidong Cement30 June 2016, Published under Cement NewsChinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c... |
Pakistan: DG Khan Cement about to power up30 June 2016, Published under Cement NewsThe 30MW coal-fired captive power plant of DG Khan Cement Co (DGKCC) at its Dera Ghazi Khan is scheduled to start up in the next week, according to market sources. The power plant was supplied by China-based Sinoma Energy Conservation and will enable the cement producer to achieve cost savings in terms of power supply as well as reduce its dependency on the national grid. |
Russia: Verkhnebakanskiy Cement BoD appointments30 June 2016, Published under Cement NewsThe Board of Directors of Verkhnebakanskiy Cement Works held a meeting on 27 June 2016 to appoint new member to the board. Lev Kvetnoy has been appointed as Chairperson and Igor Veremiy as Secretary of the Board of Directors. |
West China Cement shares drop by one third in single day’s trading29 June 2016, Published under Cement NewsHong Kong-listed West China Cement (WCC) has seen its shares fall by 32.7 per cent in a single day, wiping US$350m off the value of the company, Bloomberg reports. At one point, the company’s shares were trading 46 per cent down on their opening value, before recovering slightly to close at HKD1.07 (US$0.14). In May West China Cement reached an agreement with Anhui Conch that would see the latter company acquire the former. However, the deal has yet to be finalised and requires officia... |
Indonesia: new plant for PT Semen Indonesia29 June 2016, Published under Cement NewsPT Semen Indonesia has plans to invest between IDR4trn (US$303m) and IDR5trn (US$380m)in a new plant in Aceh, according to Corporate Secretary, Agung Wiharto. The company established a new entity on 22 April in cooperation with local company PT Samana Citra Agung, forming PT Semen Indonesia Aceh. This new entity will become the operator of the plant. Samana Citra is the majority owner of Semen Indonesia Aceh as it owns the land on which the new plant was constructed. However, Semen Indone... |
New Zealand: Cape Foulwind closure29 June 2016, Published under Cement NewsHolcim has ceased operations at its Cape Foulwind cement plant in New Zealand following a three-year closure process. The company chose to start importing cement rather than manufacturing locally. National Director of Industries, Ged O’Connell said the plant closure is a worrying development for the West Coast, where many have lost jobs due to economic conditions. “In recent years we've seen energy, construction and manufacturing jobs disappearing from the community at an alarming rat... |
Georgia: construction on 1.5Mta Senaki works started28 June 2016, Published under Cement NewsConstruction on a 1.5Mta cement plant in Senaki, Shmegrelo region in western Georgia, has started. The project is an investment of US$120m by Black Sea Cement LLC, a partnership between Georgian businessman Cezar Chocheli and China’s Hualing Group. "This is a very good example of partnership between Georgia and China," Georgian Prime Minister Georgy Kvirokashvili said at the groundbreaking ceremony. The plant, located on a 20ha site, is expected to be commissioned at the end of 2017. A... |
South Africa: PPC lines up banks for rights issue28 June 2016, Published under Cement NewsSouth African’s largest producer, PPC, has announced that it has come to an agreement with four banks to underwrite its proposed ZAR4bn (US$260m) rights issue, Reuters Africa reports. The Standard Bank of South Africa Limited, Nedbank Limited, Absa Bank Limited and FirstRand Bank have been appointed to oversee the offer process, with Standard Bank also taking the role of global co-ordinator. An extraordinary general meeting is expected to be convened on or around 27 July 2016 to approv... |