Cement News tagged: Corporate
HASLE Refractories appoints BoD chairman
Carsten Riisberg Lund has been announced as the new chairman of the board of directors (BoD) at HASLE Refractories A/S, Denmark. Mr Lund has undertaken more than 35 years of service in the cement sector. His previous position was as president of FLSmidth’s Global Cement Business. Mr Lund has decided to withdraw from operational leadership and focus on helping companies achieve their growth...
Fortera appoints new chief financial officer
Scott Healy has been appointed as Fortera’s new chief financial officer. The addition of a senior leader from the financial energy sector to the Fortera team will hone strategy and promote the various value streams present in the portfolio of CO 2 reduction solutions available from Fortera, said the company. Mr Healy brings to Fortera a proven history of successfully completing complex, fi...
American Gypsum announces new president
Steven L Wentzel has announced that he is retiring as president of American Gypsum Co LLC, an indirect wholly-owned subsidiary of Eagle Materials Inc , effective from 1 June 2023. Mr Wentzel has been with the company for 28 years and served as president for the last three. Succeeding him will be Eric M Cribbs, the company’s current executive vice president of concrete and aggregates, advan...
VICEM records 30% drop in profit in 2022
Vietnam’s VICEM has reported profits of VND1.53trn (US$63.9m) in 2022, down 30 per cent YoY. Revenue, meanwhile, advanced 17 per cent to VND39.45trn over the same period, reports VN Express. Last year saw total sales of 27.5Mt, marking a 6.7 per cent decline YoY, driven by a fall in exports. Costs in 2022 increased by VND4trn on the back of rising raw material prices. Although VICEM did i...
Jaiprakesh Associates defaults on loans
Jaiprakesh Associates has defaulted on INR40,590m (US$492.9m) of loans from various lenders, according to The Times of India. The company, which has a total debt of INR290,900m, needs to make payments in respect of fund-based working capital, non-fund-based working capital, term loans and foreign currency convertible bonds. In its exchange filing, the company said that in terms of the restr...
Fancesa suspends deliveries to Santa Cruz
Bolivian cement producer Fábrica Nacional de Cemento SA (Fancesa) has suspended deliveries to Santa Cruz due to blockades and mobilisations following the arrest of Governor Luis Fernando Camacho, according to Correo del Sur. The conflict, which has seen clashes with police and blockages, has severely challenged the company’s ability to supply cement to the local market. "Given the permanen...
Colacem's L'Orignal plant could see fresh environmental objections
Colacem’s Canadian cement plant could face further objections. Victor Bonspille, the Grand Chief of the Mohawk Council of Kanesatake, near Oka, Québec, wants the federal and Ontario governments to reconsider plans by Colacem to build a new cement plant near L’Orignal and for more consultation. On 19 December 2022, Mr Bonspille wrote to the federal Minister of the Environment and Climate C...
Ambuja Cements forms new subsidiary, ARL
India’s Ambuja Cements has incorporated Ambuja Resources (ARL), a new wholly-owned subsidiary for the manufacture of cement and allied products, alternate fuel and power generation. ARL was incorporated on 5 January 2023 and is registered with the Registrar of Companies, Gujarat, Ahmedabad. The new subsidiary is yet to commence operations, reports Business Standard.
Holcim extends French footprint with acquisition
Designed to broaden its footprint across France, Holcim has acquired Chrono Chape, one of France’s leading independent providers of on-site self-levelling screeds. Operating an innovative fleet of batching trucks that can mix and apply screeds directly at the customer’s job site, Chrono Chape controls the quantities of materials required for each operation with meticulous precision, deliveri...
Sangwon Cement to increase production in 2023
The workers of the Sangwon Cement complex in North Korea are making innovations in cement production and implementing the decisions of the Sixth Plenary Meeting of the Eighth Central Committee of the Workers’ Party of Korea. On the basis of successes and experience gained last year, the cement plant has proactively conducted the organisational and political work to improve the main bu...
INSEE Cement appoints new CEO
Sri Lanka’s INSEE Cement has appointed Jan Kunigk as its new chief executive officer, effective from 1 January 2023. Mr Kunigk replaces Nandana Ekanayake, who is retiring from the role of CEO but will continue as chairman of the company. Mr Kunigk has previously held the positions of executive vice president at INSEE, as well as commercial director, responsible for marketing, sales, produ...
Unacem acquires Termochilca
Peruvian cement and concrete producer Unacem , through its subsidiary Celepsa, has bought electricity generator Termochilca. Termochilca operates the US$300m, 300MW combined cycle thermal power plant in Santo Domingo, Chilca. The completion of the acquisition is subject to the receipt and acceptance of certain conditions and signature of legal documents. Upon completion, further informatio...
Bangladesh and Saudi Arabian JV cement plant in doubt
State-owned Bangladesh Chemical Industries Corp (BCIC) has threatened to withdraw from a Saudi-Bangladesh joint venture under which a cement factory is to be built in Sylhet's Chhatak borough, Bangladesh. In a recent letter to the Ministry of Industries, BCIC has sought the pull out of the joint venture as it found irregularities, cost escalation and anomalies by their counterpart. The ...
Ambuja Cements forms shipping subsidiary
Ambuja Cements has formed a new, wholly-owned subsidiary called Ambuja Shipping Services Ltd (ASSL). The company has been incorporated by Ambuja Cements for the business of operating ships, the company said in regulatory filing. The company has acquired 100 per cent shareholding in ASSL and the cost of the acquisition is INR10m (US$120,800), reports Mint. ASSL is incorporated in India and...
Lucky Cement chairman passes away
The chairman of Pakistan’s largest cement producer, Lucky Cement Ltd, Muhammed Yunus Tabba, died on 2 January 2023 peacefully, according to a family announcement of the company through local media. Lucky Cement is one of Pakistan’s largest producers and leading exporters of quality cement. The company’s total production capacity (including northern and southern plants) has increased to 15...
Yura achieves 3Mt sales milestone
Peru-based Cemento Yura SA has reached the 3Mt sales mark for the first time in its 56-year history, reports Asocem, the country’s cement association. The company attributes its success to its staff and customers as well as strategic partners such as Rationalización Empresarial Raciemsa, Concretos Supermix and Cal y Cement Sur – all part of Yura’s parent company, Grupo Gloria . “At Yura we...