Cement News tagged under: corporate
Paraguay: INC plans to raise capacity07 January 2015, Published under Cement NewsParaguay’s Industria Nacional de Cemento (INC) plans to increase its production capacity from 50,000 to 70,000 bags/day in 2015, according to Jorge Méndez, head of the company. This is expected to create a good supply to the market and lower prices by the end of the year. Although the company is forecast to have an accumulated deficit of nearly PYG1bn, due to successive years of losses, he assured that in 2014, the firm will produce a profit of PYG8000m. The change in fuel planned for... |
Puerto Rico: Cemex cement sales hit 55-year low07 January 2015, Published under Cement NewsIn 2014, Cemex cement sales in Puerto Rico fell 10.6 per cent YoY to 24,000t, according to Enrique García, president of Cemex Puerto Rico. The 55-year low has prompted the country’s largest cement producer to take action, including laying off 18 staff at its Ponce plant. "We are being proactive after a thorough analysis of the subject. The aim is to ensure the future of our company. In a crisis we can not control, we are focussing our decisions on factors that themselves are within ou... |
Arabian Cement Co names chairman07 January 2015, Published under Cement NewsArabian Cement Co’s board of directors on Thursday approved the appointment of Abdullah Mohammed al-Eissa as board chairman, with a three year term effective 1 January 2015. In early December, the company elected a new board of directors. The other newly-elected board members are Ghassan al-Souleiman, Saud al-Souleiman, Adel al-Zaid, Ibrahim al-Rajhi, Ibrahim Aba al-Khail, Sami Baroum, Mu'taz al-Azawi and Alwaleed al-Dareean. |
Belarusian government to acquire additional shares07 January 2015, Published under Cement NewsThe Belarusian government will acquire additional stakes in three cement companies in exchange for helping them to repay loans to China’s EximBank. The Council of Ministers has issued a directive that provides for the restructuring of overdue debts to the bank incurred by Belarussian Cement Plant, Krychawtsementnashyfer and Krasnaselskbudmateryyaly as of 1 October 2014. The three cement producers will receive the bailout on condition that they meet their profitability of sales targets f... |
Holcim and Cemex close their series of transactions in Europe06 January 2015, Published under Cement NewsHolcim and Cemex today announce the successful closure of their series of transactions in Europe. Holcim acquired Cemex’s operations in western Germany and The Netherlands while Cemex took over Holcim Czech Republic with all its subsidiaries in the country. In Spain, Cemex purchased Holcim’s Gador cement plant and Yeles grinding station, while Holcim keeps its remaining operations. As a result of the transactions, Cemex paid Holcim EUR45m in cash. Holcim said it expects sustainable ad... |
South Cement Co to issue 270-day bills06 January 2015, Published under Cement NewsSouth Cement Co has announced that it will issue CNY750m (US$120.7m) unsecured super short-term bills with a maturity of 270 days on the interbank market on 6 January. The company, controlled by state-owned China National Building Material Co, said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 8 January, and the to-be-issued bills tradable on 9 January. Shang... |
Arabian Cement Co recommends SAR3.25 cash dividend06 January 2015, Published under Cement NewsThe management board of Arabian Cement Co (ACC) has recommended to shareholders a cash dividend of SAR3.25 (US$0.866) per share for the first half of 2014. The dividend translates into a total payout of SAR325m (US$133.5m). If approved, the dividend will be paid to shareholders registered at the close of business on 30 June. In mid-October 2014, ACC said its net profit rose 67.6 per cent YoY to SAR500.9m (US$133.4m) for the first nine months of last year. |
Kenya: Savannah Cement to build second grinding plant02 January 2015, Published under Cement NewsSavannah Cement has announced plans to invest more than US$198.3m for the construction of its second milling plant near Kitengela town in Kajiado County. The high efficiency milling plant will feature a roller press mill, which allows for environmentally efficient cement production. Savannah Cement managing director Ronald Ndegwa said that the ground breaking plans for a clinker manufacturing plant are also well underway. “Once the two plants are installed, Savannah Cement will take pole p... |
China: BBMG acquires 60% stake in Hebei line02 January 2015, Published under Cement NewsBBMG announced that the company held 60 per cent equity of Xingtai Yong Ning Cement through transference at a consideration of CNY245m (US$39.46m). Xingtai Yong Ning Cement owned two 2500tpd dry cement clinker production lines. |
Conch Group unveils restructuring plan, China30 December 2014, Published under Cement NewsState-owned Conch Group of China has unveiled a plan to streamline shareholdings within the company. The Anhui provincial government intends to convert its indirect controlling shareholding of Anhui Conch Cement Co and Wuhu Conch Profiles & Science Co into direct ownership, according to filings to the Hong Kong exchange on Monday. Morgan Stanley said this might be an early step for the Anhui provincial government to exit from its shareholdings. |