Cement News tagged under: corporate
Improved pricing and exports boost CCCL first half18 August 2014, Published under Cement NewsCaribbean Cement Company Ltd (CCCL), the Jamaican subsidiary of Trinidad Cement Limited (TCL), achieved a 28 per cent increase in revenue for the first half of the year due to improved pricing and increased exports. Turnover rose to JMD7.25bn up from JMD5.68bn a year earlier, “driven by improved pricing and an almost doubling of aggregate clinker and cement export sales volumes,” a report by Mayberry Investments stated. However, revenue was impacted by “general inflationary increases d... |
Ash Grove announces new president and COO18 August 2014, Published under Cement NewsAsh Grove Cement Company’s board of directors announced the promotion of J Randall Vance to president and chief operating officer, effective immediately. Vance, who served three years as senior vice president of administration and chief financial officer, assumes responsibility for manufacturing and sales of the company’s cement operations, as well as continuing to lead its finance, accounting, risk management, information technology and human resources departments. “Since joining Ash Grov... |
Argos considers acquiring Holcim and Lafarge Latin America divestments15 August 2014, Published under Cement NewsColombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. "We are firstly interested in looking at Mexico and Brazil," said José Alberto Vélez, president of the Argos Group, in the local newspaper La República. "We have been watching with interest and enthusiasm, but have nothing concrete yet." Earlier this month, Holcim and Lafarge... |
Wonder Cement places new order with Gebr Pfeiffer, India15 August 2014, Published under Cement NewsIndia-based producer Wonder Cement has placed an order with Gebr Pfeiffer for raw meal and coal mills as part of plans to expand its Tehsil Nimbahera cement works. The mills will supply the new 8500tpd kiln line at the plant situated in Chittorgarh district, India. The MPS 5600 B, with a capacity of 605tph of raw meal and a fineness of 1.5 per cent residue on the 212µm sieve, will be equipped with a 5600kW drive. Wonder Cement will use pulverised petcoke for kiln firing. This fuel will be ... |
Orient in strategic talks to acquire 2Mta plant15 August 2014, Published under Cement NewsOrient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said. Deepak Ketrapal, managing director of Orient Cement, told local press that "strategic discussions“ are being held to acquire a 2Mta cement plant. The names of the companies were undisclosed. Mr Ketrapal added that Madhya Pradesh and Chhattisgarh are the prime locations. The acquisition will form part of Orient Cement’s aim to boost cap... |
FLSmidth maintains 2014 guidance14 August 2014, Published under Cement NewsFLSmidth has reviewed and approved the company’s interim report for the six months to 30 June 2014, maintaining its 2014 guidance and noting a significant improvement in margins. However, its order intake declined declined due to a lack of large orders, whereas announced orders were stable. In 2Q14 FLSmidth's order intake fell by 17 per cent to DKK4643m and the order backlog fell by 20 per cent to DK21,713m. Revenue was down 19 per cent to DKK5577m. EBITA increased 52 per cent to DK472m, c... |
Sagar in talks to buy BMM Cements, India14 August 2014, Published under Cement NewsSagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1Mta integrated cement works along with a 25MW captive power plant near the Tadipatri in Anantapur district of Andhra Pradesh. Sources told the Economic Times of India that a team of Sagar Cements has already inspected BMM’s manufacturing and limestone assets and the legal and t... |
CRH to sell Turkish joint venture14 August 2014, Published under Cement NewsCRH and its Turkish partner, Eren Holding AS, have hired JPMorgan Chase & Co to help sell their cement joint venture in Turkey, according to reports in the Irish Times. Sources familiar with the matter say that three potential bidders are among those shortlisted and the sale process for Denizli Cimento Sanayaii TAS could be finalised as early as October. Companies including Sabanci Holdings, Limak Holding AS and Oyak are reportedly interested in the unit in which CRH holds a 50 per cent sta... |
Badami takes up role of ACC chief executive officer and MD14 August 2014, Published under Cement NewsHarish Badami yesterday assumed the role of CEO and managing director of India’s second-largest cement producer, ACC. "Harish Badami has taken over as CEO & MD from August 13 2014 and Kuldip Kaura has demitted office as CEO & MD from the said date," the Holcim group company said in a statement. The Board had approved Badami’s appointment in June. Prior to joining ACC on 1 August 2014, Badami had served as managing director of Celanese India. He also held the positions of president and MD... |
CVC in talks over Holcim Lafarge assets13 August 2014, Published under Cement NewsPrivate equity firm CVC is in talks with Singapore's Government Investment Corporation over possible joint bids for Holcim and Lafarge assets ahead of their planned merger, Sky News reported on Tuesday. The companies have reportedly received over 100 expressions of interest for assets they must dispose of to facilitate rapid progress of the merger, which has a deadline for completion by 1H15. A disposal committee has identified shared assets, including 23 plants in eight countries amounting... |