06 December 2017
Shareholders approve merger of CNBM and Sinoma 06 December 2017
China: China National Building Material’s (CNBM) shareholders have approved a merger agreement between the company and China National Materials (Sinoma) at an extraordinary general meeting. The two companies formerly entered into a merger agreement in September 2017. The South Korean Fair Trade Commission approved the pending merger in early November 2017.
Dalmia Bharat to bid for Binani Cement 06 December 2017
India: Dalmia Bharat Cement has made an agreement with the Piramal Bain Resurgence Fund to jointly bid for Binani Cement. The deal will see the two companies make an offer for Binani’s two plant in Rajasthan, according to the Economic Times newspaper. Binani Cement has debts of US$530m and the potential buyers are aiming to pay around US$930m. Binani Cement became insolvent following a US$110m royalty payment to state government for its limestone quarries. Other Indian cement producers, including Ultratech Cement, Shree Cement, Nirma, JSW cement and My Home Industries, have expressed interest in the cement producer.
Nepalese standards body removes certification from two cement brands 06 December 2017
Nepal: The Nepal Bureau of Standards and Metrology (NBSM) has removed Nepal Standard (NS) certification of two cement brands marketed by Ambe Cement. Hi-Tech OPC Cement and Ambe Premium OPC Cement have had their certification cancelled, according to the Himalayan Times newspaper. The NBSM has also restricted the company from selling these brands locally. The government body says it found slag in the products despite requiring producers to only include clinker and gypsum in Ordinary Portland Cement (OPC) products.
Rexnord introduces Smart Coupling products 06 December 2017
US: Rexnord has added Smart Coupling to its portfolio of products that use its industrial internet of things (IIoT) Smart Tag. The mechanical components manufacturer says that its range of connected products can monitor equipment parameters providing operational analytics that can be used to increase system performance. Its coupling and shaft products, including elastomeric, disc, grid, and gear coupling products as well as torque limiters, are used in a variety of applications across industries including the material handling sector.