Cement News tagged: Corporate
Cooperativa Cruz Azul councils take control of Oaxaca plant
The administration and surveillance councils of Mexico’s Cooperativa Cruz Azul have reportedly taken back operational and administrative control of the company’s cement plant in Lagunas, Oaxaca, according to Reporte Indigo. The councils are headed by José Antonio Marín and Víctor Manuel Velásquez. However, other partners have indicated that the recent takeover of the plant will be legally foug...
BUA Cement completes NGN115bn Series 1 corporate bond issuance
BUA Cement Plc has successfully completed its NGN115bn (US$291bn) Series 1 corporate bond issue as part of its NGN200bn bond issuance programme. The development is the largest ever corporate bond issuance in the Nigerian Debt Capital Markets. BUA Cement's N100bn Series 1 issue is a seven-year issuance priced to a rate of 7.5 per cent and was oversubscribed by NGN137.82bn. Meanwhile, BUA Ceme...
Star Cement looks east for expansion
Star Cement, which has a strong presence in northeastern India, is looking to the east of the country to expand its business. The company is currently expanding its capacity at Siliguri, West Bengal. The company is present in the east with 0.6Mta leased grinding capacity and the new grinding unit at Siliguri is expected to replace this supply, accelerating volume growth. Analysts forecast a ...
Holcim completes Yocsina closure
LafargeHolcim has announced the definitive closure of the Yocsina plant in Córdoba’s Industrial Zone, Argentina, to focus its activity in Malagueño from 31 March 2021. In a note sent to the National Securities Commission, Holcim reported: “As of March 31, 2021, the company will unify all its cement grinding operations at the Córdoba industrial zone, located in the town of Malagueño, at the p...
Adani Cementation awarded new jetty clearance
Adani Cementation has been authorised by the state environment ministry to build a captive jetty in Raigad district, India. The new jetty will supply the company’s planned cement plant, near Shahbaj village, in Alibag taluka. The proposed site consists of a berth head, conveyor line and mooring facilities. For the jetty, 2ha of land are to be prepared and a further 1.5ha for the conveyor co...
Southern Province Cement elects new board members
Saudi Arabia's Southern Province Cement Co has elected new members to the board of directors for its new session, which began on 1 January 2021 for a period of three years. As such, Dr Hamad Bin Suliman Al-Bazai will serve as the new chairman of the board. Mohammed Bin Nasser Al-Nabit is vice-chairman and Saud Bin Safar Al-Bargan is secretary of the board.
Suez Cement receives approval to delist from EGX
The Egyptian Exchange’s (EGX) listing committee has approved the voluntary delisting of Suez Cement Group from the EGX, according to a disclosure. Suez Cement's capital amounts to EGP909.28m (US$57.74m) distributed on more than 181.8m shares. The company purchased the shares of dissenting shareholders at EGP7.50 each.
Reel International acquires FLSmidth Hamburg
France’s Reel International, which specialises in industrial lifting equipment, has announced the acquisition of FLSmidth Hamburg GmbH. FLSmidth Hamburg, operating under the Möller brand, installs and maintains complex handling equipment for the energy, cement and aluminium industries. The company will be integrated into the French group on 1 January 2021, and will operate as Reel Möller...
Angarskiy Cement Co begins work to improve energy supply
Russia’s Angarskiy Cement Co, part of Siberian Cement Co, has begun works to improve its energy supply. As such, it has started the construction of a 335m cable overpass from its Tsemzavod substation to a transformer substation. The construction of the cable overpass is necessary for the restoration of the transformer substation, as its electrical equipment has reached end of life. The main ...
Mfamosing plant is presented with MANCAP product quality certificates
The Standards Organisation of Nigeria (SON) has presented the Mandatory Conformity Assessment Programme (MANCAP) product quality certificates to Lafarge Africa Plc, Nigeria's operations. The presentation comes after products from the company's Mfamosing plant satisfactorily met confirmatory and standardisation requirements set by SON. While presenting the certificates, Mallam Farou...
UltraTech Cement to raise US$135.8m in private placement
UltraTech Cement Ltd, India's largest manufacturer and distributor of cement and cement-related products, has announced it will raise INR10bn (US$135.80m) in a private placement of unsecured redeemable non-convertible debentures (NCDs). UltraTech is considering a proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs of INR10,00,000 each.
Dalmia adds 2.3Mta to Bengal capacity
Dalmia Cement (Bharat) Ltd has expanded its capacity in Bengal, India, by 2.3Mta to 4Mta. The expansion represents an investment of INR3.6bn (US$48.9m). The company expects pent-up demand from infrastructure projects and affordable housing following business disruption due to the COVID-19 pandemic. Therefore, it is also adding 2.3Mta of brownfield capacity in Odisha and revamp the operations...
Al Karama announces prequalifiers for Carthage Cement
Al Karama Holding has published the list of prequalified candidates in the sale of the majority stake of Tunisia-based Carthage Cement. It includes domestic companies such as Madja Tunisia SA, Les Ciments Artificiels Tunisiens SA and Société des Ciments de Gabès SA as well as overseas cement producers such as SECIL (Portugal), Cemolins International SLU (Spain), and the consortium of M Boure...
FLSmidth enters fabric filter technology agreement with Simatek
FLSmidth has agreed to sell its fabric filter technology, a non-core business of FLSmidth's advanced filter technology (AFT) to Denmark-based industrial filter producer, Simatek A/S. Under the agreement, Simatek will supply FLSmidth with fabrick filters while FLSmidth will become a supplier of filter bags and filter cages to Simatek. Through the transaction, FLSmidth will retain its core AF...
Dangote Cement set to begin share repurchase scheme
Nigeria’s Dangote Cement is planning to begin a share buyback programme, starting with a first tranche of 85.2m shares or 0.5 per cent of the total in issue. The purchase is set to take place on 30 December. It is Nigeria’s first company to undertake a share buyback, as previous attempts failed due to fears that the process may be abused. The repurchase plans are not expected to exceed 10 p...
Breedon trading exceeds expectations
Breedon, a leading construction materials group in Great Britain and Ireland, today issued an update on recent trading. The Group’s recent trading update, published on 18 November 2020, noted continuation of positive trading into the fourth quarter. Since then, the company said performance has continued to exceed expectations across the group, with revenues in November ahead of the prior ye...