Cement News tagged: Corporate
PPC sees EBITDA rise 15% in 1H20
South Africa-based PPC has seen its group revenue edge up one per cent to ZAR5.01bn (US$331.1m) in the half-year period ending 30 September 2020, compared to ZAR4.95bn in the 1H19. The rise has been attributed to robust cement sales after COVID-19 restrictions were eased. Group EBITDA increased 15 per cent YoY to ZAR996m from ZAR868m, with an EBITDA margin of 19.9 per cent. Operating profit ...
Scheuch subsidiaries make senior management appointments
Two Scheuch subsidiaries make senior management appointments, while Scheuch USA Inc announces its new President Camcorp (Scheuch), a manufacturer of high-performing air pollution control and pneumatic conveying equipment, has appointed Dan Bruyn as chief operating officer from 16 November 2020. Dan Bruyn will be responsible for engineering, manufacturing, project management and administrati...
Loma Negra forced to stop kilns in Olavarría
A conflict between Argentina’s mining workers' union and Minerar, a key supplier of raw material, has forced Loma Negra to halt its two kilns in Olavarría. If the issue continues, cement dispatches are expected to be interrupted in the coming days. The disruption comes within days of the country’s government announcing the decision to monitor the supply of building materials, to ensure the ...
UltraTech Cement announces 12.8Mta capacity expansion
UltraTech Cement’s (Aditya Birla Group Cement) Board of Directors have approved an increase of cement capacity by 12.8Mta with a mix of brownfield and greenfield expansions. The additional capacity will be created in the fast-growing markets of the eastern, central and northern regions of India. Kumar Mangalam Birla, chairman of the Aditya Birla Group, said: "This significant investment ...
Birla Corp to raise INR1.5bn through NCDs
India’s Birla Corp is set to raise around INR1.5bn (US$20.3m) through secured unlisted redeemable non-convertible debentures (NCDs). As such, the company has approved the allotment of 1500 NCDs worth INR10,00,000 each, on a private placement basis.
Production resumes at Sindri plant following protest
Production at ACC’s cement factory in Sindri, India, resumed on Tuesday with a police presence, a day after a clash between protesting villagers and police. The protestors had blocked the entrance of the factory and were demanding jobs for the locals in the factory, according to The Times of India. As many as 11 people were reportedly arrested on Monday and sent to judicial custody.
Mondi set to open Colombian plant in January
Mondi is expected to open a new paper bag plant in Cartagena, Colombia, in January 2021. It will be the company’s first in South America. South America is home to more than 250 cement plants, requiring 2bn cement bags per year, according to a press release. "Our global network already includes 39 plants across 22 countries. We are excited to be expanding our footprint to Colombia, helping ...
Star Cement to invest INR4.5bn in new plant
India’s Star Cement has announced an INR4.5bn (US$61m) investment in Bengal through the construction of its new 2Mta grinding unit. It will be the company’s first facility in the state and the government has already cleared land for the project in Jalpaiguri, according to the Times of India. Star Cement currently has a manufacturing capacity of 4Mta, which is expected to go up to 6Mta up...
South Valley Cement reports contraction in net loss
Egypt’s South Valley Cement has seen its net loss contract to EGP132.81m (US$8.48m) in the first nine months of 2020, compared to EGP173.97m in the year-ago period. The company had also reported a contraction in its net loss for the first half of 2020.
Riyadh Cement completes record kiln operation
Saudi Arabia-based Riyadh Cement Co has completed its longest kiln operation without interruption with 70 days of continuous operation (1676.67h) without any single minute interruption. The plant also operated the kiln at 103 per cent capacity, averaging 5145tpd of production from 5000tpd of designed plant capacity. The stoppage was preventively taken to inspect the clinker pan conv...
Tanga Cement's Board Chairman forecasts strong infrastructure demand in 2021
Tanga Cement PLC's Board Chairman, Lawrence Masha, gave an upbeat outlook on the company's prospects because of the government’s heavy infrastructure projects and investments. At the shareholders' annual general meeting Mr Masha said: "The group remains optimistic of the positive impact of infrastructure development plans under the government’s development version 2025 programme and ex...
Breedon's asset disposal to complete shortly
The UK’s Competition and Markets Authority (CMA) has now accepted Breedon Group’s undertakings to dispose of certain assets to Tillicoultry Quarries. The company made the move to address the CMA’s concerns that its purchase of certain assets from Cemex UK may lessen competition in certain areas. In a statement to the London Stock Exchange, Breedon confirmed that it now expects the disposal o...
Metallurgical Industries sells 6.4m shares in Tourah Portland Cement
Egypt’s Metallurgical Industries Holding has reportedly sold 6.4m shares in Tourah Portland Cement. The share sale has a value of EGP45.7m (US$2.91m). Tourah Portland also reported a net loss in its 3Q20 results last week.
Gulf Cement Co approves capital reduction
The ordinary general meeting of UAE-based Gulf Cement Co has approved a 50 per cent capital reduction to AED410.55m (US$111.79m) from AED821.1m, as a result of the company’s accumulated losses as of 30 September 2020. The company will therefore cancel 410.55m shares, equivalent to the amount of losses, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Sunday.
HeidelbergCement to move Italcementi's research centre to Germany
HeidelbergCement, parent company of Italcementi, is planning to move the Bergamo research centre to Germany, according to reports in Italia Oggi. The step is part of the company’s strategy to further optimise the effectiveness, processes and structures of its activities, which includes the centralisation of its research functions in a single location. The timing of the move, which is expect...
Hanson UK warned over Cement Data Order breach
Hanson (HeidelbergCement group) has been warned by the Competition and Markets Authority (CMA) for inadvertently releasing sensiitve market information when it made a payment to its trade association, the Mineral Products Association. Sharing information about the cement volumes produced in the last year contravenes the Cement Data Order of 2016, which protects the industry from anti-compet...