Cement News tagged under: corporate
CEMEX supplies Vertua to Khalifa Port expansion07 September 2023, Published under Cement NewsCEMEX will provide over 200,000m 3 of Vertua lower-carbon concrete for the development of the topside infrastructure for the expansion of the Khalifa Port in the UAE, one of the largest port infrastructure projects in the world. Strategically situated midway between Abu Dhabi and Dubai and serving 25 major shipping lines with direct links to over 70 international destinations, Khalifa Port is an 18.5m deep-water multipurpose port with a total of 10.6km of quay wall that include two con... |
MPA welcomes Lex Russell as new chair07 September 2023, Published under Cement NewsThe Mineral Products Association (MPA) has appointed Lex Russell, managing director of CEMEX UK Materials, as its new chair for the next two years. Mr Russell takes over from Simon Willis, CEO of Hanson UK, who held the role for an extended three-year period, ensuring continuity during the period of leadership change with the appointment of Jon Prichard as MPA CEO. According to the association, the role of MPA chair is a non-executive position responsible to the MPA Board, whilst also l... |
CEMEX in talks to sell Dominican Republic business06 September 2023, Published under Cement NewsCEMEX is reportedly considering selling its assets in the Dominican Republic. According to Bloomberg, the cement producer is working with J P Morgan Chase & Co on the potential divestment of its business in the Dominican Republic as it decides to shift its focus onto bigger markets. CEMEX, which has had a presence in the country since 1995, currently runs a 2.4Mta cement plant at San Pedro de Macorís , and also has 10 concrete plants, two aggregate quarries, a gypsum mine and three mar... |
Holcim opens its Innovation Hub06 September 2023, Published under Cement NewsHolcim has announced the opening of its Innovation Hub to showcase its sustainable building solutions and serve as a co-creation lab to accelerate low-carbon, circular and energy-efficient building worldwide. Spread across three floors, the Hub offers working spaces to host start-ups and think tanks to accelerate innovation. It will also serve as an urban dialogue platform to explore the future of sustainable cities and their construction via interactive exhibits and events. Nollaig Forre... |
Argos MD forecasts further investments in the USA and Caribbean05 September 2023, Published under Cement NewsJuan Esteban Calle, MD of Argos SA has revealed that the company is looking to invest in the USA and nearby markets to increase imports. “In the United States, we are making a significant investment in a port in Houston, which will help increase imports,” said Mr Calle. “We are also making other relevant investments in two plants that will allow us to increase our capacity in West Virginia and South Carolina, with an additional 450,000t for the domestic market. “Furthermore, we have ... |
Minister visits Sigus cement and calls for more competitive cement pricing05 September 2023, Published under Cement NewsSigus Cement ( GICA Group ) recently welcomed the inspection field visit of the Minister of Industry and Pharmaceutical Production, Ali Aoun, to the wilaya of Umm Al-Bawaqi, Algeria. Mr Aoun called for improving the competitiveness of cement prices when selling to contribute to the completion of major technical projects in the country, in addition to intensifying efforts aimed at developing the export of cement, where he stressed the support of the public authorities. He inspected t... |
PPC appoints new CEO05 September 2023, Published under Cement NewsSouth Africa-based cement producer PPC has appointed Matias Cardarelli as its new CEO. Mr Cardarelli was employed previously as CEO and chairperson of Natal Portland Cement , part of Intercement , in the last five years. Prior he also held posts at Amreyah Cement in Egypt and Yguazú Cementos in Paraguay. In addition, following the onset of COVID-19 and a new entrant into the Mozambican cement market, his portfolio had been expanded to include Cimentos de Mozambique , where he su... |
JSW Cement reveals IPO plans to fund expansion04 September 2023, Published under Cement NewsJSW Cement is planning to launch an initial public offering (IPO) in 2024 to raise INR40,000m (US$483.8m) to fund its ongoing expansion plans, reports Live Mint. “In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections,” confirmed Parth Jindal, managing director, JSW Cement. According to the company, it hopes to raise I... |
Fitch downgrades West China Cement04 September 2023, Published under Cement NewsFitch Ratings has downgraded West China Cement Ltd ’s (WCC) long-term issuer default rating (IDR) and its senior unsecured debt rating from BB to BB- due to the cement producer's aggressive capex, primarily outside China. The outlook on the IDR is negative. According to Fitch, WCC has been investing heavily since 2021 with a focus on overseas markets, resulting in higher leverage and persistently negative free cash flow. In 2022 West China spent CNY3bn (US$412.7m) in capex, 84 per cent of... |
BUA Cement says new plants will drive down cement prices04 September 2023, Published under Cement NewsBUA Cement has said that it hopes the completion of its two new plants this year would result in the lowering of cement prices in Nigeria. The company plans to add 6Mta of cement production capacity by the end of 2023 with the opening of Line 3 at its Obu plant and Line 5 at its Sokoto plant, according to Punch. Contractors in the country have reportedly been complaining to the government over the high cost of cement, suggesting that imports would be cheaper. The Minister of Works i... |