Cement News tagged: Corporate
Court of Rome declares validity of Buzzi offer for SACCI
Buzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015. The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI. The composition plan will be subject to the vote of the creditors in the ...
ThyssenKrupp merges plant technology businesses in France
ThyssenKrupp is strengthening its plant technology capabilities in France by merging the formerly-separate entities Polysius and KH Mineral to become ThyssenKrupp Industrial Solutions (France), the company said in a statement yesterday. The step came into effect as of 1 October 2015. As of today, ThyssenKrupp Industrial Solutions (France) employs around 300 employees at two locations in Aix-...
Cementos Molins to enter Colombian market
Cementos Molins has signed an agreement to enter the Colombian cement market with local home and construction specialist Corona. The Spanish cement producer plans to build a EUR335m cement works in Antioquia. The plant will have a capacity of 1.35Mta and is scheduled to come online in mid-2018. The production facility will provide 220 direct and 250 indirect jobs during operation and ...
Dangote Cement appoints two regional CEOs
Dangote Cement has appointed two new Regional Chief Executive Officers (RCEOs) to lead its Nigeria and West and Central Africa divisions. Arvind Pathak has been named the new RCEO of Nigeria while Vivek Chawla is the new RCEO for West and Central Africa. Mr Chawla has over 30 years of experience in the cement industry working across functions including management, operations, sales & market...
American Starlinger-Sahm hosts grand opening of US HQ
American Starlinger-Sahm Inc celebrated the official opening of the new US headquarters in Fountain Inn, in the Greenville Metropolitan area, South Carolina, with a two-day Open House. The inauguration ceremony of the new 23,000ft 2 facility was held on the evening of 23 September 2015 and attended by the mayor of Fountain Inn, Gary Long, as well as the Director of Fountain Inn Administratio...
DR Congo: new plant online in December 2016
Dangote’s new plant in the Republic of Congo is expected to enter production in December 2016. The new 1.5Mta plant in Bouenza, Yamba district represents an investment of XOF139.725bn. However, the succesful completion of this project is subject to the construction of a new bridge over the Niari river on the Buiansa-Mouyondzi axis. The old bridge, which has a carrying capacity of 25t, does not...
Pakistan cement industry records revenue growth of 3.4% in FY15
Pakistan's domestic dispatches grew by 7.9 per cent YoY in FY15 to 28.2Mt, while exports fell 11.6 per cent YoY to 7.2Mt. The drop in exports limited revenue growth in the Pakistan cement sector to 3.4 per cent YoY. Overall profitability increased by 20 per cent YoY in the last fiscal to PKR35.6bn compared with PKR29.7bn in FY14. The outlook on local dispatches remain strong due to t...
Venezuela: Trujillo's line 2 construction makes steady progress
The construction of the second line at the Trujillo plant of Venezuela’s Cemento Andino has progressed to 35.1 per cent, according to the president of Corporación Socialista del Cemento. "The growth we are experiencing today will have a major impact on the development not only of Trujillo, but of Venezuela. With this new line, the cement production capacity of this subsidiary will triple, t...
Cemex USA announces divestment in the southeastern United States
Cemex USA announced Friday that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM. The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes. The transaction is expected to be completed by end-2015. Bank of Americ...
Guatemala: Fitch affirms Cementos Progreso IDRs, Outlook Stable
Fitch Ratings has affirmed Cementos Progreso SA's (Cempro) Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlook is Stable. Cempro's 'BB+' ratings reflect the company's leading position in Guatemala's cement industry. Its solid market position is viewed as sustainable considering the country's limited infrastructure and challenging logistics, which limit imports and significantly incre...
Bedeschi acquires Mid-West Conveyor Co
Bedeschi SpA of Italy announced the acquisition of Mid-West Conveyor Co, a US-based provider of turnkey bulk material handling systems for the utilities, mining, cement, fertiliser, refinery and marine terminal sectors. Founded in 1947, the newly-named Bedeschi Mid-West Conveyor LLC (BMWC) has operations located in Lenexa, Kansas. From there it designs, manufactures and installs bulk material...
PPC Ltd: change to the Board Of Directors
Dr Daniel Ufitikirezi has resigned as a director of PPC with effect from 22 September 2015. This follows his resignation as the chairman of the board of Cimerwa, PPC's subsidiary in Rwanda, after his replacement as the representative of the Rwanda Social Security Board on that board. Dr Ufitikirezi was appointed to the PPC board in January 2015.
Siam Commercial Bank Pcl sells stake in Siam Cement Pcl
Siam Commercial Bank Pcl said on Thursday it sold its stake in Siam Cement Pcl to raise THB4.47bn (US$123.17m) funds to cover provisions for loans to struggling steel firm Sahayiriya Steel Industries. The Siam Cement shares were sold to the Crown Property Bureau which is already a major shareholder in Thailand's biggest cement firm, the bank's chief executive Arthid Nanthawithaya told Reuters...
Government to cancel India Cements plant
The government of India has decided to cancel the allotment of a cement plant given to India Cements in Gumma, Shimla, Himachal Pradesh. The decision was taken after India Cements expressed its unwillingness to start works, according to local media. "It has been decided to cancel the allotment as the company is no longer keen to set up the plant and they have failed to show any progress in t...
CCI clears HeidelbergCement-Italcementi deal
Competition Commission of India (CCI) has approved HeidelbergCement's proposed acquisition of Italcementi SpA. The fair trade regulator said in a tweet said it has approved "acquisition of Italcementi SPA by HeidelbergCement AG".
Siam City Cement to set up Cambodian JV
Thailand-based Siam City Cement (SCCC) has approved a plan to set up a joint venture with Chip Mong Group to operate a cement plant in Cambodia. Thailand’s second-largest cement producer SCCC will take 40 per cent equity in Chip Mong Cement Corporation Ltd, the joint venture firm, and Chip Mong Group and three other individuals will hold the majority 60 per cent. The JV firm has a registe...