04 July 2017
Buzzi Unicem completes acquisition of Zillo Group 04 July 2017
Italy: Buzzi Unicem has completed its acquisition of Zillo Group with its acquisition of the remaining 52.1% of the share capital of Cementizillo. Following the acquisition it now owns 100% of the company. The agreement was originally announced in mid-June 2017. Buzzi Unicem has paid Euro19m plus 450,000 shares in Buzzi Unicem for its purchase of the majority stake in Cementizillo. Further payments will follow with an additional variable payment of up to Euro21m depending on the average price of Buzzi Unicem cement in Italy from 2017 to 2020.
Vietnam: Trinh Dinh Dung, the Deputy Prime Minster, has inaugurated the second production line at the Thanh Thang Cement plant at Thanh Nghi, Ha Nam. The new line has a production capacity of 1.3Mt/yr and it will raise the plant’s total capacity to 1.75Mt/yr, according to the Viet Nam News newspaper. The company has invested US$220m in the upgrade project.
Trinh Dinh Dung also said at the event that the Ministry of Construction would have to review the master plan for the cement industry in the 2017 - 2025 period with a vision towards 2035, and the master plan for exploration, exploitation and use of minerals for cement production by 2025. He urged domestic cement manufacturers to comply with environmental protection requirements, and invest in new technology to improve the quality of their products and protect the environment.
Ciments de l'Afrique secures loan from West African Development Bank for Burkina Faso project 04 July 2017
Burkina Fasa: The West African Development Bank (BOAD) has granted a US$10m short term loan to Ciments de l'Afrique (CIMAF) for the import of raw materials for the production of cement to be sold locally. Morocco’s CIMAF operates a cement grinding plant at Ouagadougou and it is building another at Bobo-Dioulasso that is expected to be completed in mid-2018.