Cement News tagged under: corporate
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Italy: Cementir receives court approval for Sacci Spa purchase09 June 2016, Published under Cement NewsThe Court of Rome has published the decree of approval of the composition with creditors of Sacci Spa, which includes the offer to purchase its business divisions submitted by the subsidiary Cementir Italia Spa. The Court verified the regularity of the procedure and the outcome of the creditors’ vote and approved the arrangement with a motivated decree. The closing of the transaction, subject to the satisfaction of all conditions to which it is subject, is expected by the end of July 2... |
South Africa: AfriSam to encourage enterprise development in Bafokeng08 June 2016, Published under Cement NewsAt a ceremony held at Phokeng, North West Province, AfriSam and New Business Consulting, a 100 per cent Broad-Based Black Economic Empowerment (B-BBEE) Bafokeng-owned company, signed a Memorandum of Understanding (MoU), cementing a partnership to facilitate enterprise development and creating job opportunities for the Royal Bafokeng Nation. As part of the MoU, a number of enterprise development opportunities within the Bafokeng area have been identified and are currently being investigated... |
India: Jaypee vice chairman and director resigns08 June 2016, Published under Cement NewsJaiprakash Associates Ltd (JAL) said its vice chairman, Sarat Kumar Jain, has resigned from the Group. Jain had been associated with the Jaypee Group for over 50 years. "He is presently 78 years old and is not keeping in good health. As such he has expressed his inability to continue as vice chairman/director of JAL," the firm said. Jain resigned from the office of the vice chairman and director of JAL yesterday with immediate effect, it added. In March, in one of the biggest deals i... |
Australia: competition body seeks higher Cement Australia fine07 June 2016, Published under Cement NewsThe Australian Competition and Consumer Commission (ACCC) has appealed against a court ruling imposing fines of AUD18.6m (US$14m) on Cement Australia, one fifth of the level the ACCC had asked for. In September 2013 Cement Australia was found guilty of conspiring to prevent competition in the concrete market when it entered into contracts with power stations in southeast Queensland to acquire fly ash. On 29 April 2016, Australia’s Federal Court levied a fine of AUD18.6m on the company ... |
Holcim Westport land for sale07 June 2016, Published under Cement NewsFollowing the closure of Holcim's Cape Foulwind cement plant in Westport, New Zealand, the plant site and its 400ha of land are for sale. The 60-year old Holcim plant is due to close 30 June 2016 as the company plans to import cement to two new terminals at Auckland and Timaru. The assets available as part of the sale include a quarry, packing plant site, water treatment plant, farm land, staff housing area and ground lease and wharf silos at the Westport harbour. Potential buyers are abl... |
USA: new plant manager for Ash Grove Midlothian07 June 2016, Published under Cement NewsMichael A Gonzales is the new Ash Grove Cement Company Midlothian plant manager, according to Stuart Tomlinson, vice president of manufacturing – Midwest, with Ash Grove Cement Company. Mr Gonzales begins work at the Midlothian plant effective 1 June 2016. “We are pleased to have Michael lead our modernised Midlothian plant. His experience and record of accomplishment in the cement manufacturing industry were important to us. These skills are valuable to us for the success of this plant,”... |
Morocco: Ciments du Maroc cancels Safi wind farm project07 June 2016, Published under Cement NewsCiments du Maroc, an Italcementi subsidiary, has abandoned plans to construct a wind farm at its Safi site on Morocco’s Atlantic coast, SeeNews Renewables reports. The company will instead explore the possibilities of buying in energy from local suppliers. Co mmenting on the decision, CEO, Mario Bracci, said: "Today, different opportunities exist and a number of supply contracts are being offered to us." Mr Bracci added that Ciments du Maroc was considering a deal with Nareva, an ener... |
India: Prism Cement acquires stake in BLA Power07 June 2016, Published under Cement NewsPrism Cement has agreed to acquire 15.23 per cent equity stake for approximately INR210m (US$3.14m) in BLA Power, which is in the sole business of generating thermal power. The company will enter into a power supply agreement with BLA Power for the purchase and consumption of 25MW of RTC (round the clock) power from BLA Power for its Unit I and II cement plants at Satna, Madhya Pradesh, under the Group Captive Arrangement of the Electricity Rules, 2005. This agreement is expected to reduce... |
India: Kanodia Cement plans Bihar grinding unit07 June 2016, Published under Cement NewsKanodia Cement plans to set up a cement grinding unit with a capacity of 1.2Mta in Kuradi village, Durgawati, in Bhabhua district of Bihar. The estimated cost of the project is INR2000m (US$29.9m). The project will be spread over 3.82ha of land. The company has received environmental clearance for the project and is awaiting other necessary clearances. |
Border closure costs Cementos Molins EUR25m06 June 2016, Published under Cement NewsThe closure of the border between Tunisia and Libya and the regional political tension has seen Cementos Molins’ assets depreciate by EUR25m as exports have fallen, according to sources close to the company. Cementos Molins, who owns two cement businesses in Tunisia, reported sales of EUR646m in 2015, representing an increase of 20 per cent YoY with profits at EUR50.8m, up 64 per cent. However, its subsidiary Sotacib, which produces white cement, reported losses of EUR7.2m and has been in ... |