Cement News tagged: Corporate
Fauji Group receives largest syndicated cement financing project
Pakistan's Fauji Group, parent company of Fauji Cement Co Ltd (FCCL) and Askari Cement Ltd (ACL), has announced the signing of PKR37.4bn (US$212.2m) syndicated term loan facilities for an expansion programme from a local banking consortium, led by Habib Bank Ltd (HBL). The facilities, which have a combined project cost of PKR60bn (including a debt component of PKR37.4bn), will be used to e...
Minister urges reopening of the Adilabad cement plant
Industries and IT Minister, KT Rama Rao, has requested the central government to reopen the Cement Corp of India (CCI)’s plant in Adilabad. In letters to Union Finance Minister, Nirmala Sitharaman, and Union Heavy Industries Minister, Mahendra Nath Pandey, Mr Rama Rao said that the unit had the necessary infrastructure and limestone reserves to produce 48Mta of cement. In addition, it had a...
Two Pakistan cement plants complete power projects
Attock Cement Pakistan Ltd (ACPL) and Flying Cement Co Ltd (FCCL) have both opened new power plants in Pakistan. ACPL informed the Pakistan Stock Exchange that its 20MW solar power plant project has been completed at Hub Chowki, Lasbella in Baluchistan. According to ACPL Company Secretary, Irfan Amanullah, the solar power project was implemented at an estimated cost of PKR1.8bn (US$10.19m) i...
Arabian Cement expects start Rabigh mills for 4Q22
While completion of the new cement mills at Arabian Cement Co’s Rabigh plant in Saudi Arabia has reached 99.5 per cent, the project’s contractor, CNBM, has not been able to enter the country to resume work on the project, said Arabian Cement Co in a statement to the Saudi stock exchange. Resumption of work will be possible following the approval of relevant government agencies in China for the...
Cemex to sell Costa Rica and El Salvador operations to Cementos Progreso
Mexico-based Cemex has signed an agreement for the sale of its operations in Costa Rica and El Salvador with Guatemala’s Cementos Progeso Holdings, for the amount of US$335m, to be completed in the first quarter of 2022. The assets up for sale include an integrated cement plant, a grinding station, seven concrete plants, an aggregates quarry and a distribution centre in Costa Rica as well as...
Kohat Cement establishes a letter of credit for Punjab plant
Kohat Cement Co Ltd (KOHC) has informed Pakistan Stock Exchange (PSX) that the company has established a letter of credit for the import of plant and equipment for the pyro-process optimisation of its 6700tpd grey cement production line at Khushab in Punjab. On 17 February 2021, the company approved, subject to all regulatory approvals, setting up of 7800- 10,000tpd cement plant (along w...
Natal Portland Cement secures five-year loan
As part of Natal Portland Cement’s (NPC) strategy to enhance its capital structure and investments opportunities, company CEO and Chairman, Matias Cardell has announced the approval of a five-year loan by Standard Bank totalling ZAR500m (US$32.1m). “This transaction shows recognition from the largest South African bank on NPC’s solid results and our ability to generate sustainable cash flo...
Lafarge Cement Zimbabwe Ltd appoint new CEO
Lafarge Cement Zimbabwe Ltd (Holcim group) has appointed Mr Geoffrey Ndugwa as the new CEO. Prior to his appointment, Mr Ndugwa was the CEO of Lafarge Malawi between December 2019-November 2021. He has 17 years of cement industry experience working in various capacities across Africa, including Director for Bamburi Group in Kenya, General Manager of Innovation and Marketing for Lafarge WAPC...
InterCement sees light at the end of the tunnel
Following InterCement Participações’s financial and management adjustment measures of the last two years, the cement producer is set to return to the markets in a leaner, healthier way. Between 2015-2018 the company, like other industry players, was hit in Brazil by falling cement demand and weighed down by high debts. “Many difficult decisions were made, but they made a lot of sense for t...
Holcim set to acquire Malarkey Roofing Products
Holcim has signed an agreement to acquire Malarkey Roofing Products, a leading company in the US residential roofing market with projected 2022 net sales of US$600m and EBITDA of US$120m. Malarkey is complementary to Firestone Building Products’ leadership in the commercial segment, positioning Holcim as a full roofing provider. Malarkey’s strong brand recognition is driven by its leadershi...
Cementos Molins acquires Pretersa Prenavisa
Through its subsidiary Precon, Cementos Molins has acquired 100 per cent of precast concrete company Pretersa Prenavisa, owned by the European investment group Kartesia. The acquisition will support Cementos Molins’ growth in the precast concrete markets of Spain, Portugal and France and improve its product range of sustainable solutions in the construction sector. Founded more than 30 years...
Eduardo Sánchez takes over management of Unacem Peru
Eduardo Sánchez Verdejo has taken over the general management of Unacem Peru. At the same time, Mr Sánchez will continue to fulfill the role of Corporate Industrial Vice President of Unacem Group, a role he has been performing since February 2021. He has more than 25 years of experience in the cement industry. In addition to his long career at Unacem, Mr Sánchez has been alternative fuels man...
Oman Cement invites bid for Line 4 project
Oman Cement has invited bids for a contract to expand the capacity of its plant in Rusayl. The company’s CEO, Salim al Hajri, noted that planned expansion includes the construction of a new line (Line 4) with a capacity of 10,000tpd of cement. In addition, the existing Line 3 would be upgraded to 5000tpd from the current 4000tpd. The expansion is expected to meet domestic demand and redu...
Cemex signs five-year agreement with HCL Industries
HCL Industries has signed a five-year agreement with Cemex, which will see it focus on global end-to-end transformation of IT lifecycle management, including IT managed services, digital transformation, infrastructure and application services, alongside end-user support. “Cemex selected HCL Technologies because we have a vision of working smarter to cater to the global company’s fast-growin...
Titan Cement announces progress of share buyback
Titan Cement International SA has announced the progress of its share buyback programme. The company and its subsidiary, Titan Cement Co SA, purchased 42,514 shares of Titan Cement International on Euronext Brussels and the Athens Stock Exchange in the period between 13 December until 20 December 2021. The value of the shares amounts to EUR575,484. Following the transactions, Titan Cement ...
Argos announces US$23m investment in Honduran strategic projects
Argos will invest US$23m in several projects to improve operations at its Honduran plants. The investment is also expected to support the country’s growth and development. The company will expand its installed capacity at Piedras Azules, Comayagua, to increase its annual cement production by 35 per cent as it forecasts accelerated market demand. Furthermore, Argos will invest in renewable ...