Cement News tagged: Corporate
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 ...
Shree Cement plans new plant in Guntur
India’s Shree Cement is planning to set up an INR15bn (US$198.52m) greenfield cement plant in Guntur, Andhra Pradesh. The project will be the company’s first plant in the state and is expected to complete in 24 months. The location was chosen as the growth rate in Andhra Pradesh is reportedly higher than the national average and is expected to improve further.
SBI acquires minority stake in JSW Cement
The State Bank of India (SBI) has acquired a minority stake in JSW Cement Ltd at an investment of INR1bn (US$13.23m). The capital is expected to support the company’s capacity expansion plans from 14Mta to 25Mta. "In a short span of three years, we have increased our capacity from 6Mta to 14Mta and are now working towards achieving the 25Mta milestone over the next 24 months. We take great...
Kalambaina Cement sees successful start-up of Line 3 project
Sinoma CBMI has announced the successful start-up of its EPC project for Kalambaina Cement (BUA) in Sokoto, Nigeria. Work on the 3Mta Line 3 began in the 2Q19 and carried on throughout 2020 and 2021. Sinoma has now begun works on Line 4 for the same site. Kalambaina Cement Line 3
Cruz Azul legal dispute risks sustained cement production
Mexico-based cement producer Cruz Azul is currently facing a legal conflict in its plant in Tula, Hidalgo, that threatens to impact cement production. The plant currently employs 1300 workers and two groups are seeking control of the company. A day after the failed seizure of the facilities that the dissident group intended that resulted in a riot, the cooperative members chaired by Federico...
World Cement Association unanimously approves Climate Policy
The World Cement Association (WCA) has today announced the unanimous approval of its proposed Climate Policy and the re-election of CUCC Chairman Cui Xingtai to the Board of Directors at its fifth General Assembly, which took place virtually this month. Climate Policy The WCA's Climate Policy focusses on accelerating the decarbonisation of the cement and concrete industry by encouraging a...
VostokCement completes repair of kiln
Russia’s VostokCement has completed the repair of the second rotary kiln at its Teploozersk facility. During two months of work, the lining was replaced, the smoke pump was repaired and a new foundation for the sixth support of the furnace was filled in. The heat exchanger has also been replaced, which will improve heat exchange in the furnace and optimise fuel consumption, according to the ...
Morocco's listed cement producers to end 2021 on positive note
Cement producers listed on the Casablanca Stock Exchange are expected to end 2021 with net results up 30.1 per cent YoY, according to Ecofin Agency. The positive performance is driven by active real estate and construction sectors. Holcim Group and Ciments du Maroc posted favourable operating conditions despite the COVID-19 health crisis with combined consolidated sales of MAD8.7bn (US$939m) ...
Yamama Cement Co makes early loan repayments
Yamama Cement Co announced the early repayment of SAR130m (US$34.6m) worth of two loan installments to Saudi Industrial Development Fund (SIDF), according to a bourse filing. The company has an outstanding debt balance of SAR1.178bn, reports Argaam. The repayment of the two installments, which were due in 2022, was financed from the company’s available cash. The early repayment is in line...
Carbon Re joins WCA
Carbon Re has joined the World Cement Association (WCA) as an associate corporate member. Carbon Re is the world’s first AI-powered platform developing solutions to cut costs and reduce emissions in the energy-intensive manufacturing sector. Its Delta Zero software enables cement plants to increase efficient fuel use when firing kilns, resulting in lower fuel costs and emissions reductions o...
Foundation stone for Shree Cement's Punjab plant
The Punjab Chief Minister, Charanjit Singh Channi, has laid the foundation stones of Shree Cement’s Punjab plant at Deh Kalan village, and a medical college at Ghabdan village with a total cost of INR1050m (US$13.7m). The chief minister said that the 5Mta project have an estimated cost of INR700m, and includes a captive railway siding. The plant site and rail siding have a total land ar...
BUA Cement announce passing of company secretary
The Board and Management of BUA Group regret to announce the passing of Ahmed Aliyu (1975-2021), company secretary and chief legal adviser of BUA Cement Plc. Ahmed was also the company secretary for BUA Cement Plc.
Holcim acquires Marshall Concrete Products
Holcim completed the acquisition of Marshall Concrete Products, a longstanding and trusted supplier of concrete products and services in Minneapolis/St Paul and the surrounding metropolitan area, USA. Jan Jenisch, Holcim CEO, said: “This acquisition is another step in our Strategy 2025 to become the global leader in innovative and sustainable building solutions. We welcome the employees of Ma...
Fauji Cement Co appoints new CEO
The board of directors at Pakistan’s Fauji Cement Co Ltd has approved the appointment of Qamar Haris Manzoor as chief executive officer. The appointment became effective from 13 December 2021 and is expected to last until 12 December 2024.