Cement News tagged under: corporate
Competition Appellate Tribunal sets aside penalty on 11 cement companies14 December 2015, Published under Cement NewsThe Competition Appellate Tribunal of India has set aside a US$945m penalty imposed on 11 cement firms by the Competition Commission of India (CCI) on accusations of cartel behaviour and asked the fair trade regulator to hear the matter afresh. The Tribunal also allowed the cement manufacturers to withdraw the 10 per cent penalty amount already deposited with the CCI, according to local press reports. The judgement follows appeals filed by the cement firms and their industry body, th... |
China’s ICBC and Anouar sign US$171m financing agreement14 December 2015, Published under Cement NewsMorocco’s investment group Anouar Invest has signed a financing agreement with the Industrial and Commercial Bank of China (ICBC) in the amount of US$171m for the construction of a cement works in Settat, Morocco. The project’s MAD2bn (US$203m) engineering, equipment and construction contract was awarded to Sinoma-CDI, which expects the new plant to be up and running by the end of 2018. Anouar Invest is also building a cement unit in Laâyoune. |
Holcim to close five Belgian concrete plants14 December 2015, Published under Cement NewsHolcim Belgique announced the closure of five concrete plants in Belgium to union representatives. The step will affect around 60 employees in Brugge, Herentals, Izegem, Oostende and Veurne. “The concrete market in Belgium is stagnating and there exists overcapacity in the sector, which has increasingly deteriorated from year to year,” said the company. “As a result, the activity of Holcim Belgique in the sector has been challenged by overcapacity in view of demand. This has affected ... |
Mexico: Cruz Azul opens second Palmar de Bravo line14 December 2015, Published under Cement NewsMexico's Cooperative la Cruz Azul recently opened a second production line at its Palmar de Bravo cement works, operated by its subsidiary CYCNA de Oriente. "CYCNA Orient today reaches 100 per cent of its design capacity. Previously this plant produced 1.2Mta of cement, but with the second line an additional 1.5Mta can be manufactured, giving a total of 2.7Mta, “said Guillermo Alvarez Cuevas, CEO of Cooperativa La Cruz Azul. |
Cementir Board announces forecasts for 2016, new organisational structure11 December 2015, Published under Cement NewsCementir Holding SpA's Board of Directors has approved the forecasts for the year 2016 and a new organisational structure for the group. The Group is expecting to achieve EBITDA of around EUR190m next year, and net financial debt of about EUR180m, with planned industrial investments of around EUR65-70m. The Italian cement producer said these forecasts are based on conservative assumptions, especially for Turkey, where the geopolitical situation is still highly unstable, with possible effe... |
Indonesia cement sales up 4.7% in November11 December 2015, Published under Cement NewsIndonesian cement sales rose by 4.7 per cent YoY to 6.1Mt in November 2015, due to improved government spending on infrastructure projects. Widodo Santoso, chairman of the Indonesia Cement Association (ASI), said domestic cement demand rose sharply in November despite seeing some rainfall (which usually leads to delays in development of infrastructure and other construction projects). Mr Santoso says this rise is due to improved government spending on infrastructure projects. Th... |
Ambuja Cements appoints new CFO, India11 December 2015, Published under Cement NewsAmbuja Cements said it has appointed Suresh Joshi as its Chief Financial Officer (CFO) with effect from February next year. In addition, Christof Haessig was appointed as an Additional Director (Non independent - representing the Promoter Group) on the Board of Directors with effect from 9 December 2015. Haessig, at present, is the Head of Corporate Strategy and Mergers and Acquisitions at LafargeHolcim. |
Shanshui Cement says change of Shandong subsidiary's board was legal11 December 2015, Published under Cement NewsShanshui Cement on Thursday night issued a statement saying that its change of the board and management of its subsidiary, Shandong Shanshui Cement Group, was "legally valid and [does] not violate the relevant laws and regulation of the PRC", based on legal advice from its Chinese lawyers. The statement was in response to allegations made by the Shandong subsidiary, which issued a statement on 4 December that Shanshui Cement's removal of management and directors from Shandong Shanshui was... |
Qalaa Holdings 9M15 revenue driven by energy and cement divisions10 December 2015, Published under Cement NewsQalaa Holdlings reported consolidated revenues of EGP2051.2m in the third quarter of this year, up 19 per cent compared to the same period of 2014. On a nine-month basis, revenues climbed 31 per cent YoY in 9M2015 to EGP6085.5m. Revenue growth in the 9M2015 was driven by both cement manufacturing arm ASEC Cement and energy distribution business TAQA Arabia. TAQA Arabia (energy distribution) posted a 36 per cent rise in revenues to EGP1713.2m in the period, while ASEC Holding (cement ... |
Recent orders for Gebr Pfeiffer in Germany10 December 2015, Published under Cement NewsHeidelbergCement has placed orders for two new Gebr Pfeiffer MBS mills to subsitute older mills at the Burglengenfeld works, in Germany. As part of the modernisation of the kiln line, the four MPS vertical roller mills installed at Burglengenfeld works in Germany will be replaced after 40 years of good operation. HeidelbergCement AG opted for two MPS 4250 B roller mills. Each mill is designed to achieve a capacity of 200tph of cement raw material ground to a fineness of 12 per cent R90 µ... |