Cement News tagged under: international

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South Africa: Cement makers quiet on new co-operator

21 May 2010, Published under Cement News

Cement producers AfriSam and NPC-Cimpor are remaining quiet on which of them has broken ranks and recently committed to fully co-operate with the Competition Commission in its investigation into the cement industry. Lafarge SA yesterday denied it made any recent commitment to the commission. Tembinkosi Bonakele, the deputy commissioner at the commission, confirmed this week that a second of South Africa’s four major cement producers had approached the commission and committed to co-operate...

Kenyan Athi River Mining’s note 60 per cent oversubscribed

21 May 2010, Published under Cement News

Kenya’s third largest cement firm Athi River Mining’s five-year equity-linked bond for KES1.2bn (Euro1208m) was oversubscribed by more than half, the transaction team said, marking the successful sale of the country’s first equity-linked bond. The company had opted for a greenshoe option of a further KES400m (Euro4.02m) in the event of excess demand. Investors for the issue, which was sold through a private placement, offered KES1.9bn. "The return was very good. In the current trend of dro...

Dangote’s Ibese Cement factory to begin production Feb 2011

21 May 2010, Published under Cement News

The dream of moving the nation to self sufficiency in cement production may get a boost soon, as Dangote Group’s Dangote Cement Works Limited, Ibese, Ogun State, is set to commence cement production in its two lines by March 26, 2011. According to the company’s projection, the first line of the 6Mt capacity production plant will begin production on February 26, while the second line is billed to take off exactly one month later. Briefing journalists during a facility tour on Tuesday, Dr Ve...

Heidelberg maintains position in West Africa

21 May 2010, Published under Cement News

After a difficult 18 months during which HeidelbergCement’s efforts to restructure its finances saw the company considering divesting various assets, including those in West Africa, the producer has secured a deal with the International Finance Corporation (IFC), a member of the World Bank, which will ensure that the group retains its sub-Saharan network.
 
   Under the agreement, IFC and its financial partners will inject equity of up to US$180m in exchange for a minority stake in Heidelber...

Indonesia: cement company workers demand pension payment

20 May 2010, Published under Cement News

Some 200 employees of cement company PT Semen Kupang are angry they have still not been paid their pensions and allowances after being made redundant by the company since 2008. Many of the workers complained they were no longer able to send their children to school and that some of their children had dropped out of college as a result. East Nusa Tenggara Governor Frans Leburaya, said his administration had discussed the matter with the company’s management, which had promised to make the p...

Tokyo Cement (Lanka) to sell excess power from power plantTokyo Cement (Lanka) to sell excess power from power plant

20 May 2010, Published under Cement News

Sri Lanka’s Tokyo Cement Company (LANKA) has set up a fully-owned subsidiary to sell excess electricity from a power plant at a cement factory to the island’s national grid. The company said in a stock exchange filing the subsidiary, Tokyo Cement Power (Lanka), will start commercial operations after getting the required licences and permits from regulators. • It said the main aim of the subsidiary is to set up and operate a power generation plant and to use power generated by it to supply t...

Australia: Quarries ‘should be exempt from super profits tax’

20 May 2010, Published under Cement News

Quarry boss Bob Handley has a simple message for Kevin Rudd. “We’re not sitting on a gold mine here, just some sand,” Mr Handley said. Mr Handley, WA manager at Rocla Quarry Products, said quarries should be exempt from the Federal Government’s proposed new super profits tax after recommendations in the Henry Tax Review to exclude it. Mr Handley would not reveal Rocla’s bottom line but admitted the company made “super profits” by the Federal Government’s standards, and, as a result, would ...

South African Cement Maker Cooperates on probe

20 May 2010, Published under Cement News

A second of South Africa’s four "major" cement producers agreed to cooperate with an investigation by the Competition Commission into antitrust practises in the industry, Business Report said. The unidentified company approached the regulator "recently," the Johannesburg-based newspaper said, citing Tembinkosi Bonakele, the deputy commissioner. The remaining companies would face prosecution, it said. Pretoria Portland Cement Ltd. announced in November it had been part of a cement cartel and...

Russia: Freight One to phase out 10 per cent of cement hoppers fleet by end of 2010

20 May 2010, Published under Cement News

Freight One, owned by OAO Russian Railways, will phase out 10 per cent of cement hoppers fleet by the end of 2010. The company said that 2800 cars will be phased out – 18 per cent of all cement hoppers owned by the company (53 per cent of Russia’s cement car fleet). Freight One said that profitability of a cement car is around RUB350 per day, the funds are mainly used to maintain cars and do not allow the company to renovate the rolling stock. The average service life of cement hoppers ope...

USA: Essroc cement plant to hold open house

20 May 2010, Published under Cement News

An investment of more than US$500m in one of Berkeley County’s oldest industries will be celebrated June 5 at Essroc’s new cement production facilities near Martinsburg. An open house from 2-6pm. will give the public the opportunity to take bus tours of the plant at 1826 S. Queen St., Essroc spokesman Marco Barbesta said Wednesday. A dedication ceremony is scheduled to be held at 10:30am that day. “From the 1800s (until now), this is the best its ever been,” plant manager Paul Biel said of...