Cement News tagged: Corporate
China Shanshui Cement wins injunction in ongoing dispute
Shanshui Cement has obtained an injunction from a Hong Kong court that prevents former executives from removing assets worth up to CNY142m (US$20.6m) from Hong Kong and posing as directors or officers company, Reuters reports. China Shanshui said on Monday that current executives had been attacked with pepper spray, smoke bombs and water guns and held for two hours by associates of a former...
BBMG expects 1Q net profit to increase to CNY380-450m
China-based BBMG Corporation said it expects to achieve a net profit attributable to shareholders of CNY380m-450m (US$55m-65m) for the first quarter ended 31 March 2017, an increase from the CNY151m (US$21.9m) recorded in the same period of last year. An increase in operating results for 1Q17 is mainly due an increase in booked gross floor area for the property development segment compared ...
US Concrete acquires aggregates operation in New Jersey
US Concrete Inc announced yesterday that it has strengthened its aggregates capacity and ability to supply its New York City ready-mixed concrete operations by acquiring the assets of Corbett Aggregates Companies LLC, a provider of concrete sand located in Quinton, New Jersey. The acquisition furthers US Concrete's vertical integration strategy and self-sufficiency in internal aggregates consu...
Patrick Kron to be elected to LafargeHolcim board
LafargeHolcim will propose the election of Patrick Kron as a board member to its general meeting on 3 May. "We are delighted to be able to nominate Patrick Kron, who is an experienced management personality with extensive experience in the transformation of industrial companies," said LafargeHolcim President Beat Hess in the announcement. Mr Kron was formerly head of the industrial group Al...
Adebajo resigns as executive director of Lafarge Africa Plc
Adepeju Adebajo has resigned as an executive director of Lafarge Africa Plc, the company's board of directors announced. Prior to her resignation, Mrs Adebajo was managing director, Wapco Operations and then managing director, Geo-Cycle & Project Management Office at Lafarge Africa Plc. Mrs Adebajo resigned upon her appointment as the Honourable Commissioner for Agriculture in Ogun State. ...
Pakistan: Bestway Cement shelves plans to acquire Dewan Cement
Bestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Ltd located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the compa...
IFC considering equity injection in Myanmar cement plant expansion project
The International Finance Corp (IFC) is considering an equity injection into the brownfield expansion of Shwe Taung Cement Co's cement plant at Pyi Nyaung village, Myanmar . Shwe Taung Cement is part of a local conglomerate, Shwe Taung Group (STG) The total project cost is estimated at US$110m. The proposed IFC investment in STC comprises an investment in common equity for up to US$15m and...
China Shanshui Cement says some properties of unit "illegally occupied" by Jingtian
China Shanshui Cement today informed its shareholders that some properties of its Shandong Shanshui Cement Group unit were "illegally occupied" by Mi Jingtian, the former deputy general manager of Shandong Shanshui and his associates. The company said that on 8 April the directors of the company entered and tried to repossess the properties of Shandong Shanshui in Jinan city. It said the dir...
Croatia: EC prevents Cemex Croatian sale
Cemex SAB de CV has announced that the European Commission has refused Cemex permission to sell its Croation operations to Duna-Drava Cement Kft, a joint venture owned by HeidelbergCement and Schenk Zement AG. Therefore, Cemex will maintain its three cement plants, seven concrete plants and two aggregate quarries in Croatia, as well as its network of maritime and land-based terminals in Croat...
Brazil: Votorantim set to complete key investments abroad in 2017
Votorantim SA will complete key investment projects this year to return return to profit amid a challenging outlook, said Votorantim's CEO, João Miranda. Capital spending needs should ease as several investments in Turkey, Bolivia and the United States as well as a Brazilian wind farm project are slated to turn operational next year. Votorantim's loss came in the wake of a nine per cent d...
Vietnamese PM invites SCG to widen its investment in the country
The Prime Minister of Vietnam, Nguyen Xuan Phuc, has used a meeting with the head of Siam Cement Group to urge the company to expand its activities within the country. The Prime Minister met SCG President and CEO, Roongrote Rangsiyopash, in Hanoi on 5 April and used the occasion to underline the benefits of further investment in Vietnam. In March 2017 SCG announced that it was taking a 100 ...
Uruguay: Ancap to reduce staff by a third
Ancap will reduce its number of employees by a third, according to the Uruguayan cement producer’s President, Marta Jara. While the step is part of a cost-reduction programme, the company said it will keep its three cement plants operational. Ms Jara stressed the need to "reorganise work, including automation, improving working conditions, avoiding overtime and overlapping of work."
UK: small fire at Cemex Rugby plant
A small fire broke out in the dust filtration system at Cemex's plant in Rugby, according to reports in the local press. Firefighters successfully extinguished the blaze, which occurred on Tuesday, 4 April. "No one was injured, everyone was safe, that’s the main thing. The emergency services attended which is standard procedure and the fire was brought under control," said Martin Casey, ...
Philippines: Eagle Cement Corp eyes third Bulacan line
Eagle Cement Corp plans to open the third line of its Bulacan cement plant by 2018. The new line will add 2Mta of production capacity to the 5.1Mta integrated works in San Ildefonso, bringing its total cement capacity to 7.1Mta. Full funding for the new line has already been secured. In addition, the company is also looking to build a cement plant in Cebu by 4Q17 with completion of the 2...
Dominican Republic: Cemex inaugurates San Pedro de Macorís packaging line
Cemex has inaugurated a new packaging and palletising line at its San Pedro de Macorís plant in the Dominican Republic. The new Italian-built facility represents an investment of DOP400m (US$8.5m) will enable the company to increase its capacity by 30 per cent, bringing the plant’s capacity to over 3Mta. "This is the first of several major investments to be made by CEMEX in the Dominica...
Mauricio Doehner new president of Mexico’s cement association
Mauricio Doehner has been appointed as new president of Mexico’s cement association, Cámara Nacional del Cemento (Canacem). He replaces Billy Álvarez of Cruz Azul. The appointment is for one year with the option to re-elect him for a second period. The new president will focus on positioning cement more as an infrastructure option, promoting the use of alternative fuels, transportation effi...