Cement News tagged: Corporate
MI Cement Factory moves forward with expansion plans
Bangladesh’s MI Cement Factory has reopened its investment plan worth BDT7.70bn (US$91.74m), which will see it set up its sixth production line at its factory in Munshiganj. The new production line will add 8280tpd to its existing capacity of 11000tpd. The company has postponed the project in October last year, but has reversed the decision following the industry’s recovery from the impacts...
Vulcan Materials Co to acquire US Concrete
Vulcan Materials Co and US Concrete Inc have entered into a definitive merger agreement. Vulcan will acquire all of the issued and outstanding shares of US Concrete common stock for a purchase price of US$74/share in cash, which represents a total equity value of US$1.294bn. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in...
JSW Group links steel and cement for large project businesses
Following the successful integration of its retail trade across steel and cement into JSW One in the east, the US$12bn JSW Group and India's largest steel producer will now have a single group interface for all its large project divisions in the steel and cement businesses. The Indian conglomerate has created Aikyam, a technology platform where details can be accessed by the managers of la...
Steppe Cement records 14% rise in profit
Kazakhstan’s Steppe Cement has posted a net profit of US$11.1m for 2020, up 14.4 per cent YoY from US$9.7m in the previous year. EBITDA also saw a modest increase to US$24.2m from US$23.9m in 2019. However, the company’s cement sales volume decreased 4.1 per cent YoY to 1.65Mt from 1.72Mt. Local sales declined by six per cent, due to milling limitations during two months of the high season,...
Lehigh acquisition of Keystone Cement breaks down
The Federal Trade Commission has announced that Lehigh Cement Co (HeidelbergCement Group) and Keystone Cement Co (Giant Cement group) have decided to abandon their proposed merger. The news comes about two weeks after the FTC said it was challenging Lehigh Cement’s planned acquisition of Keystone Cement. "This is great news for cement customers in eastern Pennsylvania and western New Jersey...
Caribbean Cement sees sales rise 31%
Jamaica’s Caribbean Cement Ltd has posted a 31 per cent YoY increase in sales to JMD5.97bn (US$40.15m) for the first quarter of 2021. Net profit also surged 216 per cent to JMD1.53bn, already representing 48 per cent of 2020’s full-year total, according to the Jamaica Observer. The company also set a new production record of 100,000t of cement in March. The rise in figures comes as the count...
Schwenk to increase stake in Akmenės Cementas
Germany’s Schwenk has received approval to increase its stake in Lithuania's only cement manufacturer, Akmenės Cementas. It was already the majority shareholder at 50.42 per cent but is now set to increase this to 96.98 per cent. Schwenk Zement Beteiligungen will also acquire 75.41 per cent of Kalcitas, a limestone and clay producer, and 100 per cent of Cemeka and Lanku Bokstai.
Cecon plant to enter service in August 2022
Cementos Concepción (Cecon) in Paraguay has completed around 70 per cent of the civil engineering works at its new plant, according to Esmerk Latin American News. The 1.03Mta plant is located in Concepción, San Lázaro, south of Vallemí. The US$200m project is expected to start production in August 2022.
Zambezi Portland Cement produces 1.2Mt
Output from Zambia-based Zambezi Portland Cement reached 1.2Mta following the EUR23m capacity expansion project at the Ndola plant, which has seen an extra 100 staff employed. Zambezi Portland Cement CEO, Gomeli Litana, said the increase would help meet the growing demand for the product in both local and regional markets, according to the Times of Zambia.
Burnpur Cement posts net loss in the March quarter
India’s Burnpur Cement has seen an INR158.7m (US$2.17m) standalone net loss in the January-March quarter of 2021, compared to INR1.25bn in the year-ago period. However, net revenue surged 142 per cent YoY to INR432m from INR178.5m in the 4Q19-20. Operating expenses increased 138.7 per cent YoY to INR421.8m from INR176.7m.
Southern Province Cement announces new 10,000tpd line
Saudi Arabia’s Southern Province Cement has announced a new 10,000tpd production line at its Jizan cement plant in the south of the country. The project will replace the plant’s current production lines, with construction expected to begin in the second half of 2021.
Continental Cement announces price increase
US-based Continental Cement Co (Summit Materials) has announced a price increase for customers served by its Louisiana and Memphis terminals. As a result of increasing industry operating and logistics costs, the company is increasing cement prices by US$6/st. Delivered prices will be adjusted at the time of shipment to reflect any increases in freight rates, fuel surcharges and/or taxes, acco...
Tigers could halt greenfield Reliance cement plant
Birla Corp Ltd's greenfield plant for its Reliance cement subsidiary in Mukutban, Yavatmal district, India, has to wait for a four-member committee to pass wildlife clearance for the project. The company received Stage II clearance from the environmental ministry for the diversion of 467.45ha of forest land. However, the land, which has resident tigers in the area is part of the Tiger Co...
Verder Scientific acquires Mager scientific
Scientific equipment supplier and manufacturer Verder Scientific (Verder Group) has acquired Mager Scientific, the distributor of metallographic and hardness testing equipment in the USA. The acquisition is based on a long-standing successful cooperation between the two companies and will greatly improve Verder Scientific’s impact on the US market, claims the Verder Group. Mager Scientif...
Iran's largest cement line inaugurated
Iran’s largest cement line at Abyek Cement Complex was put into operation on Tuesday, according to the Tehran Times. Speaking at the inauguration ceremony, Alireza Razm Hosseini, the country’s industry, mining and trade minister, noted that Iran’s cement capacity has now reached 80Mta with a demand of 70Mta. However, the exact production capacity of the new line has not been reported. Curre...
New CEO for LafargeHolcim's US cement business
LafargeHolcim has announced the appointment of Toufic Tabbara as CEO of its US cement operations. "Toufic is a proven leader in this industry. With a professional background that crosses diverse business divisions and spans both US and global geographies, he is well positioned to drive continued growth across the US cement business," said Group Executive Committee Member and Region Head of ...