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Dangote Cement truck drivers protest alleged mistreatment 04 November 2020
Nigeria: Dangote Cement truck drivers have used their vehicles to block entries to the company’s Obajana cement plant and a public road in protest to alleged illegal employment practices. The Daily Independent newspaper has listed the drivers’ alleged grievances as: salary deductions, including for damage to cement bags; arrests for no reason; and the sacking of 6000 drivers since 2016. The drivers are demanding the removal of National Director Transportation Juan Carlos Rincos and his deputy Babadinga Mohammed.
In response to the situation Dangote Cement said that, “the issues have been resolved.”
Sberbank acquires Eurocement owner 03 November 2020
Russia: Sberbank has acquired a 100% stake in GFI Investment Limited, owner of Eurocement. RosBusinessConsulting News has reported that the acquisition followed an increase in GFI Investment Limited’s overdue debt to Sberbank in mid-2020. Sberbank in turn reported the largest increase in its overdue corporate loans in its history in July 2020. The bank says it does not have operational control of the group. However, it is reportedly “Looking for a strategic investor” for the asset.
Eurocement is the largest cement producer in Russia operating 10 plants domestically and abroad.
Ramco Cements publishes first-half 2021 financial year results 03 November 2020
India: Ramco Cements recorded sales of US$301m in the first half of the 2021 financial year, down by 15% year-on-year from US$354m in the first half of the 2020 financial year. Its profit was US$46.4m, down by 4% from US$48.4m.
The company said, “Business operations were severely disrupted during April 2020 in view of lockdown imposed by the government due to Covid-19. After relaxation of restrictions by the Government, business recovered gradually and is continuing with weak demand, especially in urban/semi-urban markets. The company continues to comply with the various operating guidelines issued by the relevant regulatory authorities from time to time. As per the current assessment of the company, there is no material impact on the carrying values of trade receivables, inventories and other financial/non-financial assets.”
Lafarge Africa’s sales rise following strong third quarter 03 November 2020
Nigeria: LafargeHolcim subsidiary Lafarge Africa recorded sales worth US$471m in the first nine months of 2020, up by 10% year-on-year from US$427m in the corresponding period of 2019. Its recurring earnings before interest and taxation (EBIT) increased by 15.7% to US$108m from US$93m.
Chief executive officer (CEO) Khaled El Dokani said, “Our robust results for the first nine months reflect the strong recovery of the demand in the third quarter and the successful implementation of our ‘Health, Cost & Ccash' initiatives.” He added that this was despite the impact of coronavirus and negative local currency effects.
Cemex and Carbon Upcycling Technologies plan reduced-CO2 concrete with nanotechnology 03 November 2020
Mexico: Cemex has signed an agreement with Canada-based Carbon Upcycling Technologies to “improve the processing of residue or by-products of industrial processes to produce nanomaterials.” Carbon Upcycling Technologies’ equipment increases the cementitious properties of residues such as fly ash and steel slag by physical processing them into nanomaterials and adding captured CO2, enabling the partnership to produce concrete additives with “greater reactivity and a lower carbon footprint” than their raw materials.
Cemex Ventures Head Gonzalo Galindo said, "This agreement with Carbon Upcycling Technologies is yet another example of our determination to deliver net-zero CO2 concrete products globally by 2050. Our roadmap to achieve this global ambition involves continuing to innovate our technology internally while continuing to seek complementary innovation outside of Cemex through investments in start-ups, consortia, and high-value collaboration agreements such as the one reached with Carbon Upcycling Technologies."