Cement News tagged under: corporate
Court of Rome declares validity of Buzzi offer for SACCI02 October 2015, Published under Cement NewsBuzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015. The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI. The composition plan will be subject to the vote of the creditors in the meeting set by the Court for 18 January 2016. If the vote of the creditors of SACCI is positive, it ... |
ThyssenKrupp merges plant technology businesses in France02 October 2015, Published under Cement NewsThyssenKrupp is strengthening its plant technology capabilities in France by merging the formerly-separate entities Polysius and KH Mineral to become ThyssenKrupp Industrial Solutions (France), the company said in a statement yesterday. The step came into effect as of 1 October 2015. As of today, ThyssenKrupp Industrial Solutions (France) employs around 300 employees at two locations in Aix-en-Provence and Sarreguemines. Samir Abi Ramia, CEO of ThyssenKrupp Industrial Solutions (France):... |
Cementos Molins to enter Colombian market01 October 2015, Published under Cement NewsCementos Molins has signed an agreement to enter the Colombian cement market with local home and construction specialist Corona. The Spanish cement producer plans to build a EUR335m cement works in Antioquia. The plant will have a capacity of 1.35Mta and is scheduled to come online in mid-2018. The production facility will provide 220 direct and 250 indirect jobs during operation and an average of 800 jobs during the construction phase, according to local press reports. |
Dangote Cement appoints two regional CEOs01 October 2015, Published under Cement NewsDangote Cement has appointed two new Regional Chief Executive Officers (RCEOs) to lead its Nigeria and West and Central Africa divisions. Arvind Pathak has been named the new RCEO of Nigeria while Vivek Chawla is the new RCEO for West and Central Africa. Mr Chawla has over 30 years of experience in the cement industry working across functions including management, operations, sales & marketing, projects and commercial. Prior to his appointment at Dangote Cement Plc which became effective ... |
American Starlinger-Sahm hosts grand opening of US HQ01 October 2015, Published under Cement NewsAmerican Starlinger-Sahm Inc celebrated the official opening of the new US headquarters in Fountain Inn, in the Greenville Metropolitan area, South Carolina, with a two-day Open House. The inauguration ceremony of the new 23,000ft 2 facility was held on the evening of 23 September 2015 and attended by the mayor of Fountain Inn, Gary Long, as well as the Director of Fountain Inn Administration, Eddie Case, Gary Smith, member of the South Carolina State House of Representatives, and importan... |
DR Congo: new plant online in December 201629 September 2015, Published under Cement NewsDangote’s new plant in the Republic of Congo is expected to enter production in December 2016. The new 1.5Mta plant in Bouenza, Yamba district represents an investment of XOF139.725bn. However, the succesful completion of this project is subject to the construction of a new bridge over the Niari river on the Buiansa-Mouyondzi axis. The old bridge, which has a carrying capacity of 25t, does not allow construction workers to transport structures of over 75t. The Congolese market is currently... |
Pakistan cement industry records revenue growth of 3.4% in FY1528 September 2015, Published under Cement NewsPakistan's domestic dispatches grew by 7.9 per cent YoY in FY15 to 28.2Mt, while exports fell 11.6 per cent YoY to 7.2Mt. The drop in exports limited revenue growth in the Pakistan cement sector to 3.4 per cent YoY. Overall profitability increased by 20 per cent YoY in the last fiscal to PKR35.6bn compared with PKR29.7bn in FY14. The outlook on local dispatches remain strong due to the initiation of China–Pakistan Economic Corridor (CPEC) projects and the construction of major dams... |
Venezuela: Trujillo's line 2 construction makes steady progress28 September 2015, Published under Cement NewsThe construction of the second line at the Trujillo plant of Venezuela’s Cemento Andino has progressed to 35.1 per cent, according to the president of Corporación Socialista del Cemento. "The growth we are experiencing today will have a major impact on the development not only of Trujillo, but of Venezuela. With this new line, the cement production capacity of this subsidiary will triple, to place it in third place production of the country, "he said. The project represents an investme... |
Cemex USA announces divestment in the southeastern United States28 September 2015, Published under Cement NewsCemex USA announced Friday that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM. The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes. The transaction is expected to be completed by end-2015. Bank of America Merrill Lynch and Citigroup acted as financial advisors to Cemex in this transaction. |
Guatemala: Fitch affirms Cementos Progreso IDRs, Outlook Stable25 September 2015, Published under Cement NewsFitch Ratings has affirmed Cementos Progreso SA's (Cempro) Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlook is Stable. Cempro's 'BB+' ratings reflect the company's leading position in Guatemala's cement industry. Its solid market position is viewed as sustainable considering the country's limited infrastructure and challenging logistics, which limit imports and significantly increase cement distribution costs. Further deterrents include the company's extensive distribution netwo... |