Cement News tagged: Corporate
Unacem acquires Hormigonera Quito
Peru-based Unacem has bought a 100 per cent stake in concrete producer Hormigonera Quito of Ecuador. Hormigonera Quito operates two industrial plants - one north of Quito on a 16,000m 2 site and another one to the south on a 22,000m 2 plot. The concrete manufacturer was established in 1984 and is part of the American Concrete Institute, the Ecuadorian Chamber of Construction and Indus...
UltraTech sees profit growth in 1QFY18
UltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to ...
FTC approves divestment of Martinsburg plant and related assets
Following a public comment period, the US' Federal Trade Commission (FTC) has approved an application from HeidelbergCement AG and Italcementi SpA to sell the Essroc cement plant in Martinsburg (WV), eight cement terminals in the mid-Atlantic and related assets to Argos USA LLC, a subsidiary of Cementos Argos SA. The divestiture is required by the FTC's August 2016 final order settling char...
Hanil completes acquisition of Hyundai Cement
Hanil Cement Co has completed the acquisition of Hyundai Cement Co in South Korea. The consortium of Hanil Cement and LK Investment Partners has paid US$552.2m for a controlling stake of 84.56 per cent stake (or 14.17m shares) of Hyundai Cement from 32 creditors, including the Korea Development Bank and Hana Financial Investment Co. The two companies formed HLK Holdings, a special purpose com...
ACC achieves sales growth of 18%
India-based cement producer ACC Ltd has recorded a 32.6 per cent growth in consolidated net profit for the April-June quarter, helped by sales growth. The LafargeHolcim group company said net profit for the three months to the end of June 2017 totalled INR3.26bn (US$50.7m). Operating EBITDA improved by 38 per cent to INR6.37bn. Pretax profit was up by 19 per cent in the current quarter. ...
Nova Cimangola’s new clinker line enters service
Nova Cimangola has inaugurated its new 2Mta clinker line in Cacuaco, enabling the country to become self-sufficient in clinker production. The expansion raises the capacity of the plant, which sits on an 687ha site, to 3.8Mta. The project represents an investment of US$300m. Around 220 new jobs were created for the operation of the works with 85 per cent filled by local people.
RINL and CCI to set up cement plant
Steel producer Rashtriya Ispat Nigam Ltd (RINL) and the Cement Corporation of India (CCI) have signed a Memorandum of Understanding (MoU), to establish a 2Mta fly ash and blastfurnace slag-based cement plant in a joint venture in two phases of 1Mta capacity each. RINL is offering around 35 acres of land for the proposed plant on its premises. The project is proposed to be completed in 15 mon...
Sergio Martínez new plant manager at Holcim Carboneras
LafargeHolcim España has appointed Sergio Martínez Hernández as new plant manager at the company’s Carboneras plant. With more than 24 years of experience in the company, Mr Martínez Hernández joined Holcim in 1993 after completing his industrial engineering degree at the ETSII in Madrid, Spain. Since the incorporation of Holcim into the LafargeHolcim Group, Martínez Hernández has been devel...
Caribbean Cement Co to refinance operating lease
Caribbean Cement Co plans to refinance the operating lease for its Rockfort plant in Kingston, the Jamaica Gleaner reports. The company is to set up a dedicated advisory board to address its operating lease, payable to immediate parent company Trinidad Cement Ltd. "The structure of the lease is not the most efficient and might have made sense five years ago when Caribbean Cement had no po...
Cemex Aggregates signs new lease agreement
Cemex Aggregates has signed a new 10 year-lease for an 8.2 acre marine terminal with the Port of Redwood City i n South San Francisco Bay, USA, with an option to extend the lease for another decade. Cemex Aggregates imports building materials from Canada, including sand and aggregated, used in Silicon Valley and Redwood City construction projects. Over the past three years Cemex has import...
BBMG Corp expects increase in 2Q net profit
BBMG Corp said it expects to record a net profit attributable to shareholders of between CNY1825m (US$269m) and CNY1900m for the six months ended 30 June 2017, as compared to the net profit of about CNY1821m for the same period last year. With the significant increase in the unit prices for cement and clinker in the first half of 2017 compared with the same period of last year, the profit f...
Raysut to hold EGM on Oman Portuguese Cement Products sale
Raysut Cement has invited its shareholders to attend an extraordinary general meeting (EGM) to discuss and approve the sale of Raysut Cement’s entire share in Oman Portuguese Cement to Opal Development Co LLC. The EGM will be held on 25 July, Salalah-based Raysut Cement said in a filing to the Muscat Securities Market on Wednesday. Raysut is reportedly planning to sell its entire stake...
Aggregate Industries appoint new MD of Aggregates division
Aggregate Industries, part of the LafargeHolcim Group, has appointed Mike Pearce as the Managing Director of its Aggregates division, as the company looks to cement its position as the UK’s leading construction materials supplier. Mr Pearce has held senior commercial and operational roles in Aggregate Industries since first joining in 1986, and moves into the role from his previous position ...
FLSmidth to acquire part of Sandvik Mining Systems
FLSmidth has reached an agreement to acquire a part of Sandvik Mining Systems. This includes continuous surface mining and minerals handling technologies and competences that will strengthen the Group's core minerals business, FLSmidth said in a statement. "The pending acquisition enables FLSmidth to improve productivity for its customers by closing a gap and cover a wider range of the full ...
Algeria’s GICA to produce 20Mta of cement by 2019-20
Algeria’s Groupe Industriel des Ciments d’Algérie (GICA) will increase its production to 20Mta by 2019-20, said company spokesperson Azzeddine Asfirane. The increase in output will be possible due to the expansion of the company’s cement works at Chlef, Ain El Kebira and Zahana and the commissioning of two new cement works at Sigus (Oum El Bouaghi) and Béchar. Ain El Kebira, which enter...
Scan Togo Awandjelo works to be inaugurated
Scan Togo’s new works at Awandjélo in Togo’s Kara region will be inaugurated on 15 July, according to local news reports. The HeidelbergCement-owned works represents an investment of US$15m and is expected to produce 0.2Mta of cement.