Cement News tagged under: corporate
Azerbaijan: EBRD 20% LafargeHolcim investment23 June 2016, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) is considering the purchase of up to a 20 per cent stake in LafargeHolcim’s cement and clinker plant in Azerbaijan. If it decides to invest, EBRD will support LafargeHolcim in improving energy efficiency through the introduction of alternative fuels. EBRD previously supported the company’s Azerbaijani plant with a EUR170m structured corporate loan in 2009, which sough to increase the plant’s production by 50 per cent. Whilst it w... |
India: Shree Cement completes Aurangabad grinding unit upgrade23 June 2016, Published under Cement NewsShree Cement has announced the completion of the upgrade works to its Aurangabad grinding plant in Bihar, Business Standard reports. Capacity at the plan rose from 2Mta to 3.6Mta, effective from 22 June 2016. Shree’s shares rose by three per cent after it made the news public. Shree Cement is in the process of expanding clinker production at its Raipur works with that upgrade expected to be completed by March 2018. |
India: Kanodia Group launches BIFCEM brand23 June 2016, Published under Cement NewsKanodia group launched its new ‘BIGCEM’ cement brand initially targeting the markets of Uttarakhand and Western Uttar Pradesh. The company wishes to expand to Delhi and NCR in its coming expansion programme followed by Bihar in August 2016 The BIGCEm brand was revealed in the presence of Vishal Kanodia, managing director, Gautam Kanodia, director and Manoj Kamboj, CEO of Kanodia Group. Mr Vishal Kanodia said, “With a fineness level of 4k, it is expected to be one of the finest cement av... |
Adelaide Brighton sees potential in US$2bn acquisition22 June 2016, Published under Cement NewsAdelaide Brighton Group says it has carried out detailed work on a potential US$2bn acquisition of the Australia and New Zealand operations of LafargeHolcim, including a plan to address competition issues. Martin Brydon, Adelaide Brighton's chief executive, confirmed that Adelaide Brighton had been working with its longstanding takeover defence adviser Credit Suisse and Blackpeak Capital. Mr Brydon said that while LafargeHolcim had still given no indication it was selling the Austral... |
Italmobilaire to acqure non-core assets22 June 2016, Published under Cement NewsHeidelbergCement AG and Italcementi SpA have made an amendment to HeidelbergCement's acquisition of the entire participation held by Italmobiliare in Italcementi SpA. The new procedure will allow the parties to proceed with the closing of the transaction on 1 July 2016. Before the closing date, Italmobiliare will now acquire the “non-core assets” ie those participations currently held by Italcementi in Italgen SpA and BravoSolution SpA, as well as certain real estate assets. Italmobili... |
Algeria: GICA subsidiary starts work on Bechar plant22 June 2016, Published under Cement NewsWork has begun on a new cement plat for Saoura-Ciment company, a GICA subsidiary. Situated 965km south of Algiers, the greenfield Bechar cement plant will cost DZD34bn to build and will have a cement capacity of 1Mta. This plant, which will be commissioned in 2019, will allow the strengthening of national production to raise it to 23Mta, said officials from the Public Industrial Group of Cement of Algeria (GICA). The industrial projects in Bechar are part of the new strategy of nationa... |
India: Jaypee Group still needs to reduce its debt level21 June 2016, Published under Cement NewsFor the promoters of Jaypee group, the aggressive expansion during the last decade has cost them dearly. The Delhi-based group had to sell profitable assets to remain afloat even as banks, alarmed by its defaults, are pressurising the group to put more assets on the block, writes the Business Standard. A senior banker with Mumbai-based public sector lender said the intent of Jaypee group to reduce debt level is genuine as evident from the sale of operating key operating assets like power p... |
USA: clearance for Italcementi acquisition20 June 2016, Published under Cement NewsOn 17 June 2016, the United States Federal Trade Commission reached an agreement with HeidelbergCement AG and Italcementi SpA allowing the merger between the two companies to proceed on schedule. The Federal Trade Commission accepted the proposed divestment of operations in the US, which primarily consists of Italcementi’s Martinsburg, West Virginia plant and up to 11 terminals. All competition approvals necessary for closing the Italcementi acquisition have now been obtained. The full... |
Philippines: Cemex Holdings Philippines IPO will raise US$526m20 June 2016, Published under Cement NewsCemex Holdings Philippines (CHP), a subsidiary of Cemex, will on Tuesday launch an initial public offering to raise up to US$526m, reports Reuters. The offering would mark the Southeast Asian nation's second and biggest IPO so far this yea r. Cemex Holdings Philippines has secured US$125m from seven cornerstone investors for the IPO, IFR said. Cemex aims to invest US$300m to open additional capacity in the Philippines in 2019. “The new capacity will become operational by the second hal... |
New 1.8Mta cement plant for Cambodia17 June 2016, Published under Cement NewsBattambang Conch Cement Co, a joint venture between Hong Kong-based Conch International Holding and local firm Battambang KT Cement Co, is expected to break ground next month in Rattanak Mondul district. The US$230m cement plant project is due for commissioning in December 2017 and bring an extra 1.8Mta of cement production capacity online in northwestern Cambodia. The company has applied for an industrial mining licence to use limestone from a nearby mountain for its production. "We ... |