Cement News tagged under: corporate
Bedeschi acquires Mid-West Conveyor Co25 September 2015, Published under Cement NewsBedeschi SpA of Italy announced the acquisition of Mid-West Conveyor Co, a US-based provider of turnkey bulk material handling systems for the utilities, mining, cement, fertiliser, refinery and marine terminal sectors. Founded in 1947, the newly-named Bedeschi Mid-West Conveyor LLC (BMWC) has operations located in Lenexa, Kansas. From there it designs, manufactures and installs bulk materials handling systems, including pipe conveyors and rotary plows. Commenting on the acquisition, manag... |
PPC Ltd: change to the Board Of Directors25 September 2015, Published under Cement NewsDr Daniel Ufitikirezi has resigned as a director of PPC with effect from 22 September 2015. This follows his resignation as the chairman of the board of Cimerwa, PPC's subsidiary in Rwanda, after his replacement as the representative of the Rwanda Social Security Board on that board. Dr Ufitikirezi was appointed to the PPC board in January 2015. |
Siam Commercial Bank Pcl sells stake in Siam Cement Pcl25 September 2015, Published under Cement NewsSiam Commercial Bank Pcl said on Thursday it sold its stake in Siam Cement Pcl to raise THB4.47bn (US$123.17m) funds to cover provisions for loans to struggling steel firm Sahayiriya Steel Industries. The Siam Cement shares were sold to the Crown Property Bureau which is already a major shareholder in Thailand's biggest cement firm, the bank's chief executive Arthid Nanthawithaya told Reuters. "We sold all our holding in Siam Cement to the Crown Property Bureau," he said. |
Government to cancel India Cements plant25 September 2015, Published under Cement NewsThe government of India has decided to cancel the allotment of a cement plant given to India Cements in Gumma, Shimla, Himachal Pradesh. The decision was taken after India Cements expressed its unwillingness to start works, according to local media. "It has been decided to cancel the allotment as the company is no longer keen to set up the plant and they have failed to show any progress in the years since the allotment was made," said Mukesh Agnihotri, industry minister. He added that the ... |
CCI clears HeidelbergCement-Italcementi deal25 September 2015, Published under Cement NewsCompetition Commission of India (CCI) has approved HeidelbergCement's proposed acquisition of Italcementi SpA. The fair trade regulator said in a tweet said it has approved "acquisition of Italcementi SPA by HeidelbergCement AG". |
Siam City Cement to set up Cambodian JV24 September 2015, Published under Cement NewsThailand-based Siam City Cement (SCCC) has approved a plan to set up a joint venture with Chip Mong Group to operate a cement plant in Cambodia. Thailand’s second-largest cement producer SCCC will take 40 per cent equity in Chip Mong Cement Corporation Ltd, the joint venture firm, and Chip Mong Group and three other individuals will hold the majority 60 per cent. The JV firm has a registered capital of US$150m, comprising 75,000 ordinary shares at a par value of US$2000 each. It is expe... |
PPC expansion strategy on track24 September 2015, Published under Cement NewsPPC's expansion strategy remains on track and the new plant in Rwanda was officially opened on 18 August 2015. In an investor presentation posted on PPC's website ahead of the RMB Morgan Stanley Big Five Investor Conference in Cape Town on Monday, the company said all three remaining projects in the DRC, Zimbabwe and Ethiopia are ~45 per cent complete. The 1Mta Slurry Kiln 9 project has commence and production ramp-up is anticipated in 2018. In terms of its operational performance, posit... |
Ecuador: Ucem to invest US$230m in new clinker plant24 September 2015, Published under Cement NewsEcuador’s Unión Cementera Nacional (Ucem) has signed a contract with Peru’s Casaracra and the Ministry of Production, Employment and Competition to build a new clinker plant in Riobamba, Chimborazo. Casaracra will invest US$230m. "This investment will replace imports of the value of US$250m over the next 10 years," said Ecuadorian Vice President, Jorge Glas, at the signing ceremony. The new plant is scheduled for commissioning in 30 months’ time. |
CRH plc announces change of role for Board member24 September 2015, Published under Cement NewsCRH plc announces that Mark Towe, currently president and chief executive of Oldcastle, will assume the new role of chairman, CRH Americas. He will work with the group chief executive to support performance and excellence programmes across the group. The appointment is effective from 1 January 2016. Mr Towe will continue as an executive director on the Board of CRH plc. |
Morgan cuts CR Cement target price24 September 2015, Published under Cement NewsMorgan Stanley lowered its target price for China Resources Cement (CRC) to HK$5.1 from HK$5.6, and maintained its "overweight" rating. The research house said the slow season is behind and it sees more policy support on the infrastructure and property side. Morgan Stanley expects construction demand to improve and cement prices to turn around. It has slightly lowered 2015 sales volume based on management's latest guidance. The research house has also included the one-off tax gain (revers... |