25 January 2017
ThyssenKrupp to build cement plant in Algeria 25 January 2017
Algeria: ThyssenKrupp’s Industrial Solutions has been awarded a contract by Société des Ciments de Sigus, part of Groupe Industriel des Ciments d’Algérie (GICA), to build a cement plant at Sigus, in the Wilaya of Oum El Bouaghi, near Constantine. The plant will have a clinker production capacity of 6000t/day. Operation is planned to start in early 2019. No exact value for the order was disclosed but it was placed above US$100m.
GICA has launched several projects to increase its cement production capacity from 12Mt/yr to 20Mt/yr by 2019. ThyssenKrupp previously received an order from GICA in 2013 to build a 6000t/day cement plant.
Eagle Materials revenue up by 5% to US$933m in first nine months of 2017 financial year 25 January 2017
US: Eagle Materials revenue has risen by 5% year-on-year to US$933m in the first nine months of its financial year to 31 March 2017 from US$891m in the same period in the previous year. Its net earnings rose by 43% to US$162m from US$113m. Sales from its cement division rose by 7% to US$359m from US$335m. However, sales volumes fell slightly to 3.89Mt. Sales volumes of cement from its joint-venture in Texas grew faster than wholly-owned plants, despite cement prices falling as production shifted from oil well cement to construction-grade cement over the past year.
Siam Cement Group Building materials Division’s sales fall by 4% to US$4.9bn in 2016 25 January 2017
Thailand: Siam Cement Group’s Building Materials division’s sales revenue fell by 4% year-on-year to US$4.9bn in 2016. Its profit fell by 17% to US$241m. It blamed the falling sales and profit on increased competition, falling earnings before interest, taxation, depreciation and amortisation (EBITDA) and increased depreciation expenses. Overall, across the group’s chemical and packaging division, sales revenue fell but profits rose in 2016 driven by the chemical business.
Roongrote Rangsiyopash, the president and chief executive officer of Siam Cement Group, said the company is focusing on expansion strategies within the Association of Southeast Asian Nations (ASEAN) region. Its 1.8Mt/yr cement plant in Myanmar started commercial production in early 2017 and a cement plant in Laos is undergoing commissioning.
Cemex announces successful take-over bid of Trinidad Cement 25 January 2017
Trinidad & Tobago: Cemex’s indirect subsidiary Sierra Trading has successfully made its offer and take-over bid for Trinidad Cement. The subsidiary received the Foreign Investment License from the Trinidad & Tobago Ministry of Finance confirming that all terms and conditions of an amended offer made in January 2017 had been accepted.
Cemex increased its offer to buy a controlling stake in Trinidad Cement in mid-January 2017 with a value of up to around US$100m. However, the directors of Trinidad Cement recommended twice that its shareholders reject the offer. Although Cemex has passed the threshold required to take control of Trinidad Cement its share offer will remain open in Jamaica for local shareholders until 7 February 2017 due to local legislation.
Tajikistan increases cement production to 2Mt in 2016 25 January 2017
Tajikistan: Tajikistan increased its cement production to 2Mt in 2016, an increase of 0.5Mt from 2015, according to the Minister of Industry and New Technologies. This is due to new cement plants opening in Vahdat, Bobojonghafourov and Yovon, according to the Asia-Plus news agency. The country now intends to export its excess to neighbouring countries. In 2016, Tajikistan exported cement to Afghanistan, Kyrgyzstan and Uzbekistan. Small volumes of cement were also exported to Russia.