Cement News tagged under: corporate
Lafarge inaugurates new solid waste grinding unit in France31 March 2016, Published under Cement NewsLafarge has inaugurated a new solid waste grinding facility at its Saint-Pierre-la-Cour cement works in Mayenne, France. The new unit will help the French cement producer to increase its thermal substitution rate to over 80 per cent. The company sources around 60 per cent of its waste from the Loire and Bretagne area. |
PPC appoint Peter Nelson as new chairman31 March 2016, Published under Cement NewsSouth African-based PPC has appointed Peter Nelson as interim chairman of the listed cement and lime producer, following the retirement of former chairman, Bheki Sibiya, at the end of January. Nelson was appointed to the PPC board as an independent non-executive director in January this year. His experience covers manufacturing, mining, telecommunications, healthcare, leisure, property, packaging and the motor industry in listed and private entities in South Africa, the UK, Zimbabwe a... |
India: UltraTech purchase of 22.4Mta capacity set to be announced31 March 2016, Published under Cement NewsUltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre... |
LafargeHolcim’s US$3bn spin-off in the making?30 March 2016, Published under Cement NewsLafargeHolcim is reported to have chosen Citi and JP Morgan to explore the sale of its US$3bn Australasian operations, according to the Business Spectator. The news follows Dataroom’s disclosure that the company had been considering a potential spin-off of its Australian and New Zealand assets. The move would help to pay for the US$50bn global merger of Lafarge and Holcim in 2014. Both Citi and JPMorgan are understood to be among the banks funding that transaction at the time, and whil... |
Kenya: ARM nears final talks with foreign investor30 March 2016, Published under Cement NewsKenya's ARM Cement Ltd expects to conclude talks on a foreign investor taking a US$140m stake in the company by 15 April. The investment is expected to be concluded by June, the Nairobi-based company said in a statement by the city’s stock exchange on Tuesday. ARM first announced talks about the potential investor in December, when it said it was seeking a US$125m cash injection. “The board and management of the company believe that the investment would, if made, strengthen the financial p... |
LafargeHolcim to target emerging markets29 March 2016, Published under Cement NewsLafargeHolcim Ltd is confident that a rally will continue in emerging markets this year. Higher cement buying in countries such as India, Indonesia, the Philippines and Vietnam is offsetting slower growth in China, leaving LafargeHolcim CEO, Eric Olsen, optimistic about continued expansion in markets that represent about 55 per cent of his company’s footprint. Indonesia is certainly one country where the comapny is aiming to thrive. PT Holcim Indonesia has lent IDR200bn (US$3bn) to affil... |
Council cancels permit for Massachusetts cement plant29 March 2016, Published under Cement NewsOfficials in Attleboro, Massachusetts, USA, have rescinded a permit given to Attleboro Sand & Gravel to allow it to develop a cement plant. Local newspaper the Sun Chronicle reports that the zoning board of appeals ruled that the plant is not allowed in the industrial business park zone where the company's 180-acre property is located. Attleboro Sand & Gravel, which is owned by Massachusetts construction firm the Lorusso Coporation, had argued that since they had previously produced cement... |
India: Dalmia Bharat wins go ahead for amalgamation29 March 2016, Published under Cement NewsDalmia Bharat has received approval from its Board of Directors for amalgamation of OCL India and Dalmia Cement East 'Bokaro' with Odisha Cement (OCL). The board has approved amalgamation of Adhunik Cement with Dalmia cement (Bharat) and transfer of power assets in Dalmia Cement Bharat Power Ventures to Dalmia Cement (Bharat), the company said in a filing to the Bombay Stock Exchange. The company has enhanced its commitment in adding value to its shareholders by consolidating its easter... |
Egypt: Arabian Cement's revenue falls in 4Q1528 March 2016, Published under Cement NewsArabian Cement Company (ACC) has described its 4Q15 financial results as "mixed". According to Egypt Daily News, the company added that nothing is alarming with regards to profits, losses, and the operating performance. During the quarter, the company’s cement selling price registered EGP497/t (US$55.89/t), three per cent higher than ACC had previously predicted. However, revenues and profits both declined compared to the previous quarter. The company reported EGP338m (US$38m) in rev... |
India: Shree Cement set for more expansion28 March 2016, Published under Cement NewsShree Cement, the fourth largest domestic cement company, is looking to ramp up capacity by another 10Mta in the coming three years. The cement producer has lined up a capital expenditure of INR60000m (US$900m) to construct three new clinker plants. The first plant will be a 3Mta the line at Bazar-Bhatapara district, in Chhattisgarh. The company has recently won a bid for limestone reserves at the Karhi-Chandi area in the state to supply the plant with raw materials. This area has an... |