Cement News tagged under: corporate
Kenya: Savannah Cement's Athi River plant upgrades11 April 2016, Published under Cement NewsSavannah Cement has announced the completion of work to upgrade its 1.5Mta Athi River plant with the addition of a new roller press grinding mill. Kenya's Capital FM quotes Managing Director, Ronald Ndegwa, as saying: “At Savannah Cement, we are excited at the timely and successful completion of the scheduled upgrade which has given our production plant enhanced reliability. “We wish to thank our customers for their support and recognise the role played by our local staff as core memb... |
Pakistan: amalgamation of Bestway Cement and Pakcem complete11 April 2016, Published under Cement NewsThe Board of Directors of Bestway Cement Ltd (BCL) and Pakcem Ltd (formerly Lafarge Pakistan Cement Ltd) in their meetings held on 7 April 2016 have approved the scheme of amalgamation of Pakcem Ltd with and into Bestway Cement Ltd and its placement before the shareholders in the extraordinary general meeting of the company as special business for their approval as per requirement of Companies Ordinance, 1984. In July 2014, BCL entered into a binding agreement to acquire Pakcem and on 22 ... |
Ukraine: Volyn Cement posts 2015 rise in net revenue, but loss deepens11 April 2016, Published under Cement NewsVolyn Cement, one of the top-three producers in Ukraine, posted a 23 per cent rise in net revenue from UAH754.892m (US$29.46m) in 2014 to UAH860.352 in 2015. However, the company reported a loss of UAH504.262m in 2015. In 2014 Volyn Cement reported a loss of UAH455.553m, having increased its net revenue by 12.06 per cent or UAH81.253m YoY to UAH754.892m. |
Malaysia: Cahya Mata Sarawak to raise MYR1bn for capex08 April 2016, Published under Cement NewsCahya Mata Sarawak Bhd (CMS) plans to raise MYR1bn (US$255.9m) in syariah-compliant fund for its capital expenditure (capex) requirements and working capital. According to Group Chairman, Tan Sri Syed Anwar Jamalullail, the Sarawak conglomerate expects to undertake a proposed sukuk programme of up to MYR1bn in nominal value for a period of up to 20 years. This proposed sukuk programme will help fund CMS' working capital and capital expenditure requirements as well as offset general corp... |
UltraTech is in a better position to control India's cement market08 April 2016, Published under Cement NewsUltraTech Cement has undertaken series of acquisitions and organic expansions over the past year. This will help the country's largest cement manufacturer in enhancing market share, getting greater control on setting prices and achieving higher sales and volumes growth, claims the Economic Times-Bangalore. UltraTech's capacity has increased to 92.3Mta from 63.2Mta in FY15. This includes the recent acquisition of 22.4Mta of cement capacity from JP Associates including access to the 40 year... |
Pakistan: Kohat Cement WHRP starts operation08 April 2016, Published under Cement NewsKohat Cement Company Ltd (KCCL) has informed Pakistan Stock Exchange (PSE) that its waste heat recovery project (WHRP) at Kohat, Khyber Pakhtunkhwa province, has been successfully set up and has started generating electricity since 1 April 2016. Khurram Shahzad, company secretary of Kohat Cement Co, stated that the new WHR plant was imported from China and its construction represents an estimated cost of PKR1.8bn (US$17.1m). As of March 2016, Kohat has a cement production capacity of 2.... |
USA: Ash Grove announces more award winners08 April 2016, Published under Cement NewsAsh Grove Cement Company’s Durkee plant in Oregon has won an internal award for excellence in safety. Commenting on the win, Steve Minshall, Ash Grove corporate health and safety director, said: “Earning the Safety Excellence Award takes focussed effort, teamwork, accountability and truly valuing the well-being of every person in the plant, and we congratulate the Durkee employees on their achievement”. The company’s plants in Durkee (OR), Leamington (UT), Midlothian (TX) as well as t... |
CNBM to issue CNY1.5bn 365-day bills08 April 2016, Published under Cement NewsChina National Building Material Co Ltd (CNBM) has announced that it will issue CNY1.50bn(US$232m) unsecured super-short-term bills with a maturity of 365 days on the interbank market on 11 April. The corporation said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 12 April, and the to-be-issued bills tradable on 13 April. China Lianhe Credit Rating Co Ltd has ... |
Ethiopia: Dangote keen on further expansion07 April 2016, Published under Cement NewsSpeaking to Ethiopian news portal, 2Merkato, Aliko Dangote, announced the Nigeria-based cement group would expand its investment in Ethiopia. Aliko Dangote, the Nigerian billionaire and chairman of Dangote Industries established a US$600m plant in Ethiopia in June 2015, but plans are on the table to expand the 2.5Mta factory. Commenting on the development, Mesfin Abera, the company’s sales and marketing head, said Dangote Industries has decided to expand the existing plant. The 2.5Mta exp... |
Cote d'Ivoire: Work starts on second CIMAF plant07 April 2016, Published under Cement NewsPlans to bring Société Ciment d'Afrique's (CIMAF) production capacity in Côte d'Ivoire to 2Mta by 2017 were outlined in a meeting yesterday between Moroccan investors and the country's president. StarAfrica reports that Anas Sefrioui, president of CIMAF’s parent Addoha Group, used his meeting with Ivoirian President, Alassane Ouattara, to announce that work would begin this week on the construction of a new 1Mta grinding plant at the port of San Pedro in the west of the country. This... |