Items filtered by date: Friday 06 January 2017
Minister inaugurates Ain El Kebira cement plant 06 January 2017
Algeria: Abdesslam Bouchouareb, the Minister of Industry and Mining, has inaugurated the second production unit at the Ain El Kebira (SCAEK) cement plant near Setif. The new unit will have a cement production capacity of 2Mt/yr, according to the Algerian Press Service. The plant is controlled by the government backed Groupe Industriel des Ciments d'Algérie (GICA).
Bouchouare announced that the 1.5Mt/yr Adrar cement plant is due to be commissioned by April 2017 and the 2Mt/yr Chlef plant by October 2017. He added that national cement production is expected to increase by 5.5Mt/yr in 2017, allowing Algeria to export its surplus by early 2018.
US: Terex Corporation has completed the sale of its Material Handling and Port Solutions (MHPS) business to Finland’s Konecranes for US$595m and Euro200m in cash and 19.6 million newly issued class B shares representing a 25% interest in Konecranes. The final transaction is subject to post-closing adjustments for cash, debt, working capital, MHPS actual 2016 EBITDA and the closing of the sale of the Stahl CraneSystems business.
“We believe that the Konecranes-MHPS combination represents compelling industrial logic that will deliver significant value to Konecranes’ customers, team members and shareholders, including Terex,” said John L Garrison, Terex president and chief executive officer.
Terex Corporation is a manufacturer of lifting and material processing products and services.